After analysis i can say we will haveve much more bigger UP trend. EUR trade negotations betwen CHN AND USD are be positive today, that is give some power to EUR. EUR will recover my opinion today. JPY is the weakest currency today, and they are have some poor economy results in last week.
Join on this idea i expect big profit here.
I am folow situation on trade talks we are have 5 diferent news today, last news are be positive for EUR, AUD, NZD, CAD they are gain power, CHF, JPY are lose power, i expecting after analysis to see push higher in price.
Chart time frame - 1D
Time for reaching TP - 1-5 days
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PAIR IN FOCUS: EURJPY
Price has retraced to the 61.8 Fibonacci retracement level and bounced off. Adding on, a bullish engulfing candle on the Daily and H4 charting serves as a bullish trigger. A continuation of a retracement of a larger wave could continue on from here.
As usual, TP 2 is a medium-term view, and my near-term bullish bias on EURJPY...
The price crossed the downtrned line and then returned again to it. 117.50 - 117.90 is a strong level of support. If the price doesn't cross under 117.50, then this would be strong BUY signal which will drive the price at levels of 121.00 and if the uptrend is still available it would reach 123.60 .
PAIR IN FOCUS: EURJPY
Price has printed a Bullish Engulfing candle on the weekly charting, signalling a long trade trigger. For this trade, looking for a retrace for a better R:R, with 2 TP areas, TP 2 being a longer-term outlook if TP 1 hits successfully. TP 2 fits nicely into a Fibonacci retracement level of a larger bearish wave.
The Entry Zone,...
Forex basket Trade the NEWS : 10:01 05-Sep-19
For most new traders, the biggest challenge is getting a profitable strategy that works
for the long term. Usually, trend-following systems are favored because they tend to have
a very good risk-to-reward ratio. Trading the currency market is essentially a numbers
game, basically traders look for strategies...
The EUR/JPY on the 4-hour time frame has been following a downtrend recently. The price dipped below 116.800 on 30 August to register the lowest level of period under study at 116.411. Bears are pushing the price lower as key technical indicators are supporting the bearish trend. The price action in the EUR/JPY is mainly driven by the weakness in the Euro. As of...
We are initiating EURJPY long at current levels.
We have hit a demand zone on daily (marked in green). Stops just below the base of the zone.
Ideally, we would like to let it run till then Supply zone marked in red.
However, we will recalibrate our exit strategy as we go.
eurjpy is currently trading is a falling parallel channel called flag pattern.
pair is very close to a major demand zone and we can expect strong bullish pressure inside this area.
wait and buy bullish breakout of a flag.
T1 - 121.0
T2 - 121.3