Been trading and tracking this one for some time. Very choppy waters with 100 pip+ swings as per usual with anything JPY related..... Anyway, I am still waiting a good breakout and price to take on for a big monster move further down. Key eco reports due the rest of this week should be the spark we need for it. All I really need to see is that angled support bar...
As we stated in our last week's analysis, cable may rise up once more reaching 1.39-1.41 levels before downtrend resumes.
Euro like other pairs is moving sideways, and price may still go up temporarily, revisiting 1.1185 or maybe reaching 1.1230 before going down. But if EURUSD manages to break below its corrective channel, chances are, bears are back again.
We all would love to be able to call the top. I have been burnt to the tune of 25k or so the last few days trying to short a "top". Fact is after much further chatting and some back to basics trend analysis over the Long Mid and Short term as of right here and now today the signals are strong bullish and for LONG. So that is what I am doing. Hoping for this...