-Previous idea for UJ was invalidated by bearish price movements.
-The price has since retraced back to previous demand zone.
- I think the bearish movement will continue, see analysis.
- Bullish price action, engulfing candlestick on 4HR
- Price was in key demand area/level/support and has risen since
- Check Chart Analysis - trendlines.
EURUSD Bearish - EURUSD is overall in a downtrend - if you view the chart from the monthly view, you will see the monthly trendlines.
The EURUSD market completed the form of a classic Head and Shoulder pattern last week. The market is now retracing back to its previous price, however the price has nearly retraced back to a key support line (Red Line). This key...
USDJPY Bearish
- Price is currently floating in the Supply zone which has been met before
- Bearish Pinbar formation on 4HR time
- Trend line on 1HR has been broken
