EURJPY Likely To Fall Further! A SHORT trade Setup
Updated
TRADE TYPE: SELL WHEN THE MARKET OPENS AT AROUND 124.800 LEVEL
STOP LOSS: 126.750
TAKE PROFIT: 123.000
RR: 1:1
TECHNICAL ANALYSIS
With the trendline and channel on daily charts broken convincingly, the cross is aiming to test the next crucial support that lies in the 123.000 level! Price has already given the confirmation and the short trade can be executed once the market opens on monday. There are other crucial technical analysis that are too long too explain behind this trade setup, all in all the analysis is based on weekly charts but the structure on the daily TF has given me enough confirmation to take this trade short
FUNDAMENTAL ANALYSIS
Well what can be said about the EUR! ECB on thursday surprised the markets by its more than expected dovish announcement which sent all the EUR pairs into high selling pressure. The EUR is sentimented to fall further in the coming days.
Shall there be any updates i will provide them here. cheers
STOP LOSS: 126.750
TAKE PROFIT: 123.000
RR: 1:1
TECHNICAL ANALYSIS
With the trendline and channel on daily charts broken convincingly, the cross is aiming to test the next crucial support that lies in the 123.000 level! Price has already given the confirmation and the short trade can be executed once the market opens on monday. There are other crucial technical analysis that are too long too explain behind this trade setup, all in all the analysis is based on weekly charts but the structure on the daily TF has given me enough confirmation to take this trade short
FUNDAMENTAL ANALYSIS
Well what can be said about the EUR! ECB on thursday surprised the markets by its more than expected dovish announcement which sent all the EUR pairs into high selling pressure. The EUR is sentimented to fall further in the coming days.
Shall there be any updates i will provide them here. cheers
Trade active
Note
ADJUST TAKE PROFITS LEVELS TO 123.400. AND STOP LOSS TO 126.000 LEVEL
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