Same play as i posted before on the 4hr chart but this time on a smaller timeframe. (attached in the related links) Same rationale as well as there is clear selling pressure building from the triangle/wedge pattern from the last few days. Expected price target for this play is 130.90
SO AFTER THE REFERENDUM WE WILL BE ABLE TO WATCH THE EURO PAIRS FOR SOME SETUPS. THE CURRENT SITUATION WITH EUR/JPY IS A SIMPLE ON IN MY EYES. THE WEEKLY TF IS TELLING ME WE ARE BEARISH AFTER A NEW LOWER LOW AND THIS FIB RETRACEMENT TO 61.8 COULD BE THE NEW LOWER HIGH BEFORE A BIG CRASH DOWN. WE HAVE HAD A TRENDLINE BREAK AND SUPPORT BROKEN ALONG WITH OUR MA'S...
If you have drawn a channel as seen above in the EURJPY, you can see that the pair has came back down to retest the bottom trend line of the channel. It formed a bullish low test, signaling an upwards continuation. Other confluences that can be seen in the currency pair are the .382 retracement level, the 138.0 support and resistance level and the recent golden...
The price is finding support at 50% fib level ( 137.879). We can see a Flag pattern, therefore my target would be the 144.062 level which is the 100% fib extension level.
Here we see a plain old bearish bat pattern on the euro yen charts. It is likely that the market will quickly rally down to the 1.618 extension of the BC leg, i have it forecast at 1.5 hours. I placed my stop at the point X My entry at point B And my limit at the 1.618 extension of the BC leg Thanks for checking in, come back and see if it completes. As...
UPDATE FROM YESTERDAYS TRADE: After the sell off this morning EUR/JPY is re testing its 4h trend line which came into play yesterday, fresh lows of 133.90 but failure to close at these levels show potential further downside to my target of 133.50. RSI is still holding its downwards trend, plus Ichimoku shows that we've had a cloud crossover as well as a TK...
It looks to me like the Euro is starting to rally after a very tough period for the currency. Here we can see on the weekly chart that the pair hasn't been able to make any new lows for at least a month. The moving averages have also crossed over in a bullish manner and we have some candle conformation in the form of some big bull candles with small wicks. The...
We are looking for buying opportunities. Therefore we are going to place our trade after the price retracement based on the regression channel trend. However, all the euro pairs might affect by any news related to Greece/Eurozone, so we have to be carefull and well informed.
The price tried recently to break the 0.5 fib level. We should wait to see if it would try again. Otherwise a break below the level of 127.42 would lead the price through the area of 126.86/126.00
Just broke this pair down in my Live Trading Room. After looking at the LLLC of the triple top highs, our traders were gearing up for a potential 2618/Kiss of Death trading opportunity. As we dug a little deeper into things we noticed that if we got the retracement back into previous structure then that 2618/KOD would be bet with a bearish bat which could be used...
We will take only short opportunities in coming week 23 - 27 March ...
A breakout is wanted. Then, according to the direction our targets are the fib retracement (if bullish trend comes up), or the second rectangle if bearish
two scenarios which could happen. price could bounce off the support turned resistance where it is at now or it could extend higher and then bounce off the next structure level.
Believe I'm not the first to say this but EURJPY has closed below the bottom of daily cloud yesterday. Tenkan and Kijun-sen both points bearish for the pair. The red descending TL also suggests pair might be heading for the sub-140 region. Coupled with the current market risk off sentiment and holding the opinion that a reversal in USDJPY is more likely than one...
EUR/JPY remains on the downside the last couple days. Fall from 141.X area to 135.7X witch can act as support. The Price action from 145.x is probably developing into a triangle pattern. I expect strong support in the 135.95-135.50 area. 137-136 level can bring a reversal in the price. i will long this pair next days @ 137 level.
This pair has had one of the largest moves of the day. Currently pushing into the major psychological at 138. It is also pressing into a resistance point that has rejected it twice. Could be a triple top leading to a horizontal channel. If it breaks and closes above 138 then I see a little more upside before a pull back and a continued move north. Happy...
in daily chart, we see bullish bat pattern . and we see last daily candle show us exhaustion.. so in my op price will move up. if its not, it will in 138-134 area then go long