Resistance clearly holding, breakout target reached and bounced. Everything in favour of a downtrend.
Looks like there are all chances for reversal down
Uptrend trendline bounce and downtrend trendline breakout confirms bullish sentiment. USDJPY is likely to continue growth and test one or both targets.
The breakout above long term trendline gives some bullish momentum to US Oil that could push price back to 54
With multiple downtrend confirmations EURUSD should be testing 1.0420. According to cyclic analysis that should happen in approximately two weeks.
Our first trade was stopped out, although EURGBP failed to break above next resistance. Excellent risk/reward is offered on this recovery trade.
Our first trade was stopped out, although EUR failed to break above next resistance. Good risk/reward is offered on this recovery trade.