On the daily time frame we can clearly see a down trend has formed. Price action has clearly hit a big level of resistance at the 132 area and has made clear its bearish sentiment. I think we can easily see a drop to the 126 level. Be patient and always practice proper risk management.
EURJPY 4H triangle short. There is nothing much to describe as the set up speaks for itself. Except that there could be spikes either way as Yen news is expected soon. Although I expect an impulse move to the downside all eur pairs seems to be in Daily/weekly correction.
Learn 2 trade like a pro FOR FREE boafx.com - We expecting positive data and hawkish tones from the BoE today with a possibility of the MPC vote coming in at 2-0-7 as the BoE already said they would not let the chinese market effect their decisin on monetary policy. Pressure is on the ECB to extend and increase the QE program which should weaken the Euro currency further
KEEPING THINGS SIMPLE ON THE EURUSD - NOT OUT OF THE WOODS YET (1 day, log scale) As said previously, I couldn't even believe EUR would show itself to be THIS strong. Well, it turned out to be short-lived. At least for now. Let's see where we stand. It's not all that negative :o) - ever since the EURUSD is looking for support - but hasn't found it yet - the RSI...
Let's look at the really big picture here on the EUR/USD- the MONTHLY chart (log scale). Note: this is of course NOT suitable for trading. Beware. Usage: - protecting your savings (by going into USD) - determining the overall trend (which pressure prevails, when going down to lower time frames?) - as well as determining important support & resistance...
Let's look at the really big picture here on the EUR/USD- the MONTHLY chart (log scale). Note: this is of course NOT suitable for trading. Beware. Usage: - protecting your savings (by going into USD) - determining the overall trend (which pressure prevails, when going down to lower time frames?) - as well as determining important support & resistance levels...
KEEPING THINGS SIMPLE ON THE EURUSD / UPDATE (1 day, log scale) ( little has changed, things working out as expected ) -the April/May negative divergence worked out -price was meeting resistance in June turned down as expected -at the time, RSI was just slightly at overbought levels (I would prefer a larger RSI overbought reading for a start of an uptrend) -we...