USDJPY - Short Idea
- Bearish: Downtrend
- Rejection of 4 Hour 50ema
- Double top formation
- Reversal out of Fibonacci Golden Pocket
- DXY - stalling at structure of 98.25
- Safe Haven currencies in demand due to Yield Curve Inversion
Price is very corrective and the Risk/Reward isn’t fantastic as you would need a large stop loss but it’s certainly a...
In daily chart we can see the GBP/USD is forming the 5th double bottom/top movement.
This time 1,193 seems like the support line of this movement. After the second dip on support line, uptrend may start towards to downtrend channel’s resistance which is ~1,26
Strategy: trade long on the second dip time. Stop loss will be the just below 1,193 support line....
Wow! What crazy short term market moves!!
That right on a day like today where the EU zone reported weaker economic numbers but seemingly the EUR held up in value until news / rumors / or presidential Tweet on social media, announced that the China trade war was relaxing just a bit. Pushing tariffs out which gave the impression of relaxing the hard line trade war...