EUR / JPY LONG
1M
EMAs have now crossed to the upside, while last month’s candle forming a higher high.
1W
EMA also crossed to the up side on weekly, with clear rejections of it. Broken and closed above the weekly support.
1D
Tweezer bottoms have been formed to create the latest higher low. This have also rejected the EMA’s which are upwards facing. Todays close completes a three inside up formation, again showing signs of bullish momentum.
4H
The news today helped push the bullish market up, but quickly reversed with a bearish engulfing. The market has now settled and the original trend taking form. Rejecting the EMA’s again while forming a marubozu at the EMA support. CTL has been broken and candle closed above it. EMA has also crossed to the upside to line up with all other time frames. 50% fib has also been rejecting but as it’s so close to the weekly level should be a good confluence for a long.
EMAs have now crossed to the upside, while last month’s candle forming a higher high.
1W
EMA also crossed to the up side on weekly, with clear rejections of it. Broken and closed above the weekly support.
1D
Tweezer bottoms have been formed to create the latest higher low. This have also rejected the EMA’s which are upwards facing. Todays close completes a three inside up formation, again showing signs of bullish momentum.
4H
The news today helped push the bullish market up, but quickly reversed with a bearish engulfing. The market has now settled and the original trend taking form. Rejecting the EMA’s again while forming a marubozu at the EMA support. CTL has been broken and candle closed above it. EMA has also crossed to the upside to line up with all other time frames. 50% fib has also been rejecting but as it’s so close to the weekly level should be a good confluence for a long.
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