Sell below 121.09. Stop loss at 121.86. Take profit at 119.65. Reason for the trading strategy (technically): Price has reacted perfectly from our selling area. We remain bearish below 121.09 resistance (Fibonacci retracement, horizontal overlap resistance) for a push down to 119.65 support (Fibonacci extension, horizontal support, recent swing low...
Sell below 121.09. Stop loss at 121.86. Take profit at 119.65. Reason for the trading strategy (technically): Price has shot up and reached our profit target perfectly. We now turn bearish below 121.09 resistance (Fibonacci retracement, horizontal overlap resistance) for a push down to 119.65 support (Fibonacci extension, horizontal support, recent swing low...
Buy above 119.62. Stop loss at 118.63. Take profit at 121.08. Reason for the trading strategy (technically): We remain bullish above 119.65 support (major horizontal support, Fibonacci retracement) for a push up to 121.08 resistance (Fibonacci retracement, horizontal pullback resistance). Stochastic (21,5,3) is seeing strong support above the 6% level and also...
Buy above 119.62. Stop loss at 118.63. Take profit at 121.08. Reason for the trading strategy (technically): We look to buy one more time above 119.65 support (major horizontal support, Fibonacci retracement, EURUSD positive correlation) for a push up to 121.08 resistance (Fibonacci retracement, horizontal pullback resistance). Stochastic (21,5,3) is seeing...
Buy above 121.11. Stop loss at 120.48. Take profit at 122.00. Reason for the trading strategy (technically): We remain bullish above 121.11 support (Fibonacci projection, horizontal support, Fibonacci retracement) for a bounce up to at least 122.00 resistance (Fibonacci retracement, swing high resistance). Stochastic (21,5,3) is approaching strong support at...
EURJPY is currently in a downtrend on the Daily and 4H, with price nearing the bottom of the daily consolidation zone. We expect price to continue to S2 where it will either bounce back towards R2 or break lower towards S3. Confirmation of this bounce is given by a break of the upper band of the trendline channel. However, until then price is bearish.