I haven't posted in a while on TV and I will keep it that way as I am to busy with coaching and analysis on my personal blog, however I will try to post a trade idea a week here too.
Today I am shorting EURJPY, even tough the EUR is pretty strong in todays EURO/UK trading session and even in the US session, I expect/believe (based on my analysis) that EURJPY is at a key resistance level, ofcourse I am no guru and my analysis is many times wrong, not becasue its not solid, my method is excellent, but nothing can be 100%.
Right now I have two technical reasons to short the pair,
1. Price action is testing the recently broken, short-term, trend line
2. Price action is at the 30% level from the recent high to the recent low
Looking at the EUR I see plenty of reasons for uncertinaty as I believe the Catalonian's will not let go lightly and I expect riots to slowly begin in the Barcelona region and around, the people of Catelonia want an independace from Spain and the Spanish goverment used plenty of force which in return injured many people, these people have all circles of family and friends around them which are rigth now "pissed off" with the police and the Spanish goverment, since their family, friends, loved ones got hurt for trying to vote. This "cause" can turn into an "effect" and that effect is possibly, riots.
We have on going terror attacks in Europe which have recently not affected the markets (going back to 2016 the terrorist attacks caused issues to the EUR) so I am not expecting terror attacks to hurt the EUR unless its something BIG.
In terms of the JPY, again fundamentally, the tensions in the Korean peninsulla are giving a boost to the YEN and I fully expect the tensions to continue so I expect a rapid rise in the YEN coming soon.
So there you have it, a little bit of fundamentals and a little bit of technicals. My SL is tight and my TP is targeting only the 1st of 4 take profit levels. The take profit levels are listed below.
TP1: 131.300
TP2: 130.515
TP3: 129.770
TP4: 129.025
PS: Apoliges for any spelling mistakes, im rather busy to go over what I wrote a second time.
Size those pips!
Today I am shorting EURJPY, even tough the EUR is pretty strong in todays EURO/UK trading session and even in the US session, I expect/believe (based on my analysis) that EURJPY is at a key resistance level, ofcourse I am no guru and my analysis is many times wrong, not becasue its not solid, my method is excellent, but nothing can be 100%.
Right now I have two technical reasons to short the pair,
1. Price action is testing the recently broken, short-term, trend line
2. Price action is at the 30% level from the recent high to the recent low
Looking at the EUR I see plenty of reasons for uncertinaty as I believe the Catalonian's will not let go lightly and I expect riots to slowly begin in the Barcelona region and around, the people of Catelonia want an independace from Spain and the Spanish goverment used plenty of force which in return injured many people, these people have all circles of family and friends around them which are rigth now "pissed off" with the police and the Spanish goverment, since their family, friends, loved ones got hurt for trying to vote. This "cause" can turn into an "effect" and that effect is possibly, riots.
We have on going terror attacks in Europe which have recently not affected the markets (going back to 2016 the terrorist attacks caused issues to the EUR) so I am not expecting terror attacks to hurt the EUR unless its something BIG.
In terms of the JPY, again fundamentally, the tensions in the Korean peninsulla are giving a boost to the YEN and I fully expect the tensions to continue so I expect a rapid rise in the YEN coming soon.
So there you have it, a little bit of fundamentals and a little bit of technicals. My SL is tight and my TP is targeting only the 1st of 4 take profit levels. The take profit levels are listed below.
TP1: 131.300
TP2: 130.515
TP3: 129.770
TP4: 129.025
PS: Apoliges for any spelling mistakes, im rather busy to go over what I wrote a second time.
Size those pips!
Note
Things are so far going great. Price action heading lower. Draghi speaks tomorrow and I expect a weaker EUR during his speech.Note
Half way there!Note
Next swing down should reach TP1, strong chances for TP3 being achieved in the next week of trading.Note
just 86 pips left for TP to be achieved
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.