Get started

STAR

Nikkei Struggling At Key Resistance as Revised Coronavirus Data Optimism crept back into the market earlier this week, with market participants speculating that cases of 2019-nCoV may peak by the end of February. However, a revision of the counting methods used to identify infections led to a 15,000 case jump in the Hubei province; with the WHO stating many of these cases date back up to three weeks. This has seen doubt creep back into the market with the Nikkei FOREXCOM:JPXJPY pegging back most of its gains from earlier in the week, after failing to break key resistance at the 24000 handle. Early formation of a shooting star candle, a potential triple-top reversal pattern and RSI divergence highlights exhaustion in the recent uptrend from late August 2019, and could see price begin to pull back to retest the 2020-low (22637) and 38.2% Fibonacci (22525). Break of support & sustained momentum to the downside could see price push towards significant uptrend support ,extending back to June 2016, and confluence with the 61.8% Fibonacci (21509). FOREXCOM:JPXJPY
FOREXCOM:JP225
by dmoss94
EUR/USD - 700 Pips Down Potential!Hello traders, I bring you here an interesting view LONG TERM on EUR/USD. In this chart we can see EUR/USD is about to become a long time bear. We have a bearish cross on MAs, Broke an almost 2 year old support trend line and now after retest the trendline a Shooting Star Candle. This trade has big downside potential and for those who love swing trading will certanly appreciate this analysis. I personally am more of a Daily trader, but i spotted this oportunity and wanted to share with you all. If you find this post useful dont forget to leave a like :) See you on next trade, ForexAcademyClub
Short
by RodrigoFAC
1