Potential bat pattern completion at the 1.618 level as well as previous resistance. We are also in a descending channel and approaching resistance. When price reaches the 1.49000 area, hopefully we see some confirmation; maybe a doji followed by a lower close, or and bearish engulfing candle. I've gained some confluence by using the Fibonacci retracement tool,...
UPDATE FROM YESTERDAYS TRADE: After the sell off this morning EUR/JPY is re testing its 4h trend line which came into play yesterday, fresh lows of 133.90 but failure to close at these levels show potential further downside to my target of 133.50. RSI is still holding its downwards trend, plus Ichimoku shows that we've had a cloud crossover as well as a TK...
Most of the other YEN pairs have recently declined strongly from earlier in the year which in varying degree are being retraced with some possibly still in progress and others might have just completed. CADJPY - appears to be such pair that might have completed the retracement and could be in very early stage of resumption of the down trend and potentially offer...
We placed NZDUSD on our radar during yesterday's Live Room session and have been tracking it ever since. I apologize in advance, but the analysis that I did on this pair is somewhat advanced so I'm not going to attempt to duplicate what I shared with you in last night's Syndicate video. Honestly speaking it's a lot clearer on the 13 period range bar charts (as...