USDJPY is now @ critical resistance zone shown by confluence resistance zone. Interesting candle formation currently underway. However we need a daily close below blue resistance turned support trend line to confirm definite further decline and a bearish continuation of former trend which began on the 4th of January 2017.
Sustained trading above orange downward sloping trendline shown is needed to fully confirm mid term bullish run. A daily close below downward sloping trendline and back into the wedge formation cancels the bullish view
USDJPY bias is still heavily short. Wave structure unfolding as expected and has stretched beyond the 1.618 target. This suggests current price behavior is brief pause in present downward trend. Looking for further short opportunities in current pseudo-rally.
Here we have a potential buy trade coming up on the Eurusd . Prices are currently in the 50-61.8 zone and at the trend line . Prices are also in the support zone , so if we can see signs of strength entering the market we will look to take the buy.
A break of the wedge pattern may also give us a buy, If we get the buy here prices can rally into the ...
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EURUSD is proving to have traced out the end of an initial corrective move and as such our weekly outlook is slightly bullish. We will take long (upside) opportunities on daily price close above downward sloping trend line shown with a target of 1.07628 first and at which point selling pressure might resume again to bring price back down over the coming...
