EURJPY (1D Timeframe) Analysis
Market Structure:
The price is moving within an uptrend channel, consistently forming higher highs and higher lows. However, it is now approaching the upper boundary of the channel, where selling pressure may increase. A potential rejection from this resistance area could lead to a short-term bearish move within the channel.
Forecast:
A sell opportunity is anticipated if the price faces rejection from the upper boundary of the channel, signaling a potential pullback toward lower levels within the channel.
Key Levels to Watch:
- Entry Zone: Near the upper boundary of the channel after confirmation of bearish signals.
- Risk Management:
- Stop Loss: Placed above the channel resistance or the recent swing high.
- Take Profit: Target the midline or lower boundary of the channel for potential downside movement.
Market Sentiment:
Although the overall trend remains bullish, a temporary correction within the channel is possible. Confirmation of rejection at the resistance is essential before entering a sell position to align with market momentum.
Market Structure:
The price is moving within an uptrend channel, consistently forming higher highs and higher lows. However, it is now approaching the upper boundary of the channel, where selling pressure may increase. A potential rejection from this resistance area could lead to a short-term bearish move within the channel.
Forecast:
A sell opportunity is anticipated if the price faces rejection from the upper boundary of the channel, signaling a potential pullback toward lower levels within the channel.
Key Levels to Watch:
- Entry Zone: Near the upper boundary of the channel after confirmation of bearish signals.
- Risk Management:
- Stop Loss: Placed above the channel resistance or the recent swing high.
- Take Profit: Target the midline or lower boundary of the channel for potential downside movement.
Market Sentiment:
Although the overall trend remains bullish, a temporary correction within the channel is possible. Confirmation of rejection at the resistance is essential before entering a sell position to align with market momentum.
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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.
✅ Discover my trading strategies signals educational resources 👇
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✅Join my recommended broker World best broker 👇
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t.me/+COYsInxWoMg1OTg8
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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.