OVERBOUGHT
Comment:
Eurjpy forex sell trade idea and opinion: www.youtube.com/watch?v=LPXxcTwx... (VIDEO VERSION)
Comment:
In video version EURJPY: www.youtube.com/watch?v=LPXxcTwx...
Comment:
The whole town was talking and having optimism over the Brexit deal. Sentimentally market worked out for pound on Tuesday as the Brexit positive developments news were covering overall the internet news portal which pumped the bullish sentiment on retail traders for the cross pair GBPJPY blown above my golden sma ( 1 and half month period). Even though the Average Earnings Index + Bonus for Aug and U.K. jobs data were below the forecast (Quite bad) leaving the Claimant Count Change positive. The whole market was eyeing for pound pairs on Tuesday as BoE Gov Carney had speech plus BoE FPC Meeting Minutes which were enough to spark high volatile on all pound pairs and yes we can't deny it was "Sterling day!". Moreover from the European side "German ZEW Economic Sentiment, German ZEW Current Conditions, ZEW Economic Sentiment index, Industrial Production" was released positively supporting the economy of the European which help retailor to have bull bias on euro and as we all know euro is like a big bruh for sterling and they love to walk together (positively correlated currencies) which increased the power of two major counter currencies like sterling and euro to shake the whole market by knocking off the king ass (greenback). In this case, GU, EU, GJ, EJ were all bullish (this freaking highly volatile major and cross pairs had a range above 100pips last night) for those intraday traders who shorted the pound and were holding before the end of European session must have faced issues but talking about swing traders there is still some hope for retracement or even reversal as the stop-loss hadn't triggered after all those big upward moves from last night and trade is still alive. I assume it's all about Brexit development sentiment news which was in play for 70% of pound bullish move last day so if only the sentiment changes (and we know it changes like a girl changes her dress for every new party) then the pound will surely be even more perfect sell from this high on GPBJPY and risk to reward must be good for downside. The same goes for the EURJPY!