We look at the Weekly chart of the Euro and last weeks trading suggests more downside. Understand that the selling that happened last week and the fact that we are back inside the wedge suggest more selling is coming. We will look for bounces to resistance and look for TRIGGERS. If they take another stab at a breakout watch the high of last week. If we reach...
Break of the blue CTL should see the dollar yen back up to 126.00. Weekly hammer bar, 62.8% retracement and major support held.
Since publishing last USDJPY chart suggesting bearish pull back or correction the price action has been relatively choppy and sideways congestion with associated difficulties in labelling correct counts on each swings. However it appears that with initial zigzag decline in to Dec low, the price action has formed what appears to be bearish triangle which could...
Entry = + CCI cross. SL= D point @ 1.1765 TP1 = 100% fib @ 1.1824
After making a decent 178% off USDJPY on friday. I closed saying to myself, Monday morning. I'll wake up and short, well here I am with my speculative sell order again. I noticed volatility is dying down but lots of volume is being driven through this market. We should see some good movement in the bull runs by tuesday/wednesday with some data releases.
Lots of build up in momentum today. Between consumer price index, unemployment, and overall household spending we should see markets take a move back towards 118 or fall back to 116.4. right now we are testing 117.6 and hoping it might start heading back down to 117.35 (metrics I'm waiting to short this market). Roughly in about 8-9 hours we'll see these markets...
There is a clear bearish order block located around the 107.20 level. Watch closely how agressively price dropped form that particular order acumulation last week. Also, a retest of the 107.00 level was imminent and issued further weakness. USDJPY has turned bearish since the 9 & 18 EMAS crossed over on the daily time frame. Also, a retracement to the 79%...
Short if 107 holds and price action remains in the channel. Price likely to move back to the first support level. However, a break through the channel could see upside to 107.37. The dollar and S&P seen a bounce after sharp declines, but this is likely to be short lived. Outlook til the end of the week.
There are many commentators and fundamental analyst as they continue to review and propagate how brilliant Abenomic is and how they will continue to flood the world with YEN in the form of Japan's version of QE, YEN will continue to weaken beyond anyone's expectation and warped view of seemingly continued massive USD strength going forward. I this this is over...