Will go long if price manage to close above 1.19600.
Expect higher prices here. First test is 0.7340 level. A break and hold above will unlock potential to re-test highs of 0.7550
Expect EURJPY to re-test highs at 131.70 after recent wave of selling.
There seems to be very little resistance for further bullish move in the EURO despite extreme bullish sentiment.
My proprietary technical signal has given a bearish trigger on the S&P500. I am short as at open on Friday 8th Sep. I am also long VXX.
Expect retest of 0.7340 in the short term, longer term, on daily timeframe, retest of 0.7550
Expect at least re-terst of 1.5000, could also break trading range and head towards 1.52
I trade shorter time frames in the directional bias of that market.
There are no clear technical signs of weakness in the bullish trend despite negative geo political news flow. Expect at least test of all time high and potentially, continuation of the bull market for the foresable time.
Expect continued move lower along channel
Sellers exhausted at 87 level, look for bulls to take command