The pair has been in a downtrend basically for all of 2019, but the momentum seems to have slowed significantly in August. While still in a downtrend last month, it was a slow grind lower (forming a falling ‘highs’ pattern in the process) while finding major support around 0.66857-0.66783 (being strong area of interest/Support). But the market is currently...
Overall was a downtrend market just made some upward move which could probably be the retracement of the earlier bearish trend?! The golden SMA (3-month avg) is acting well as a dynamic SNR and if it did hold price then this pair gonna act fakeout and fading the breakout will be a good option. If our sterling babe doesn't wanna continue to travel with us in the...
The Bearish ABCD Harmonic Chart Pattern emerge! Those Blue lines are some past days Pivot Points.
I have been working with my buddy EURJPY been some months and seems like I have collected some good information of my buddy behavior of those all past weeks. There are some major key levels of Fibonacci Retracement Levels like "78.60% and 127.20%" as those two levels are playing some major role in EJ. Those zones should be taken care if price should breakout one...
Entry Level: 129.86 Stop Loss Level: 129.29 Target Profit Level: 130.86
Entry Price Level: 86.327 Stop Loss Level: 85.810 Target Profit Level: 87.320
I can see the inverted head and shoulder had a nice breakout last time. Volume was also legit during the breakout as we can see highly intense and Chaikin Money Flow also was having uptrend above the 0.0000 level. Yesterday some news on yen wasn't so good either as Aussie had some chance over it. Charts tell everything I don't have to.
Entry Level: 1.70469 SL: 1.69830 TP: 1.71460
Entry Price level: 1.71035 Stop Loss Level: 1.71740 Target Profit Level: 1.70020
Here we could have some chance on euro against weak yen.
Keeping a Stop loss of amount $100 USD we could easily place trade having wide SL which will be below the minor support level. It will have enough breathing rooms and as EUR, GBP doing well cause of there eurozone well reports on last Friday of the week. It went well for EURUSD and GBPUSD as we know. Getting back some strength on European currency I guess it will...
Inverted Head & Shoulder Spotted!
I was testing yen strength as the EURJPY and GBPJPY are doing nice with there fall USDSEK could better relly upward too. I am saying this cause USDSEK currently has like -0.80 correlation to the EURJPY and GBPJPY. Seeing a weak pound USD is also pulling down the GBPUSD and talking about this pair it is highly positively correlated to EURJPY and GBPJPY so, if it...