The price of GBPJPY has been in a steady uptrend for a couple of days, trending very nicely as seen on the ADX indicator. Now the price has closed just at the Fibonacci R3 and is unable to break higher at the last session of the previous week. This forms a tweezer top right at the resistance, signalling a possible reversal or a slight pullback. To confirm this,...
With falling US markets and equity, EURUSD are also showing signs of reversal after a long bullish rally. As FED cuts interest rates, it is likely to have a significant impact on the dollar. This is effect is immediately shown in the dark cloud cover formed in the 4 hour chart at the last 2 trading sessions of the previous week, both of which have very high...
I rode the uptrend of this pair from the previous support of 111.843, and sold it at the doji at the top. The next session forms a 'dark cloud cover' which signals a bearish reversal. The following dojis suggest unclear signals, hence i waited for a confirm of a bearish reversal. MACD is also showing signs of slowing momentum and a potential crossover. Stochastic...
EURUSD has been in a downtrend for quite some time now, after the retest at its support of the EMA 20. MACD is showing no signs of decrease in momentum, but there has been a slight decrease in volume traded compared to 2019. The next support support would be at S3, where some substantial profits can be made. Some may decide to long at the next support.
