PHOENIXFX4

PHOENIXFX4

Looking from the perspective of market structure price has to break its support from 0.65140 since it formed a recent lower high for the bears. things could change and turn into an opportunity for the bulls when its resistance is broken ( 0.65466), then it will keep moving in that direction until it reaches its second resistance of 0.65673. Still with hope, when...

PHOENIXFX4

With current price level my stance remains neutral because taking a position at the moment is a trap that one might regret. There are opportunities for bears and opportunities for bulls but resistance or support zone has to be broken first to see the direction price might move with. Zones with indication " 1 " are short term opportunities for both sides, zones...

PHOENIXFX4

With regards to current price there is good opportunity to short USDJPY before the first support line is broken . As it fails price is driven down towards the second support zone within the channel. when price fails to break it moves back up to retest the resistance level of the channel or else the bears will keep authority over the market and drive price...