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We are overbought territory in 4hour ,RSI, just shy of 80. Stochastics are slightly diverging.
Look to sell around 134.70/74 area and look for a retarcement of 50% to 133.64 , which coincides with todays PIVOT area. USe a stop at recent high of 135.33. Also stocks should continue to the downside and dollar should sell off. Furthermore technicals look good for a ...
The market has retraced 38.2% retracement of the last move down from 138.27 to todays low of 135.60. I think good risk reward for a move back to the lows (around 100 pips).
Any thoughts would be appreciated.
thanks for looking
The previous 1 hour bar in gbpjpy formed a pin bar, which looks bullish. You have two entry points in the body of the pin between 137.77 to 137.82 owith a stop say 5/10 ticks below the low of the pin bar at 137.59. Alternatively wait for a close above the high of the pinbar at 137.845 and use it as a long and look for an extended high of 1.618% retracement at ...
Its worth looking at a short in uj here at 111.00/10 area , this is the 61.8% retracement of the fall we saw late yesterday. Yesterdays high also came up to 111.45 which is also 61.8% retracemnt of the fall for the week from monday to wednesday and we subsequently fell to make a low of 110.22 area. I think its worth a short here between 111.00/10 for another test ...
The up channel (around 70 ticks wide) has been broken on the hourlies and has retested the trend.....this is a sell and the objective is around 118.10
Any thoughts please
go long at 113.13 , stop just under recent low of 112.89 say 10 pips for a move to 113.62...good risk reward .....
I like a short here at 107.75 , using a stop at 108.00 for a move to 107.05. The up channel is testing the upside and i think we could come under some pressure to the downside.
The Euro has retraced 61.8% retracement from 104.94 to 106.40 at 105.50, we should bounce
to 105.76 if not to 105.84 the 38.2% retracement.
The move from 104.94 to 106.40 has retraced to 105.50 its 61.8% level. I think we bounce to central pivot at 105.76 or even 106.85......
Uj needs to close below 114.55'ish otherwise bulls will keep momentum and head for recent highs to 115.40.......thoughts please ?
just want to know what the crowd thinks about direction on a break out on this hourly chart of UJ