FOMC may have doved in but technical still leads in my own court of analysis! I expect a nice correction or complete reversal of the current short term uptrend.
EU looking good for short after two daily hammers! And consolidating at 618 retrace of the last drop on the 4hr.
I'm expecting the downtrend to continue after price has ran into resistance and consolidated for about 7trading days. This is my outlook on other yens as well. Used CADJPY for the study because it has the best set up. Check the chart to find levels.Cheers!
after the latest rally failed to take out the highs, this pair is likely to continue lower based on technical outlook but fundamentally aussie could weaken on glen's speech. careful trading out there
SPX500 has been bullsih this week after testing support. At this point it is back at resistance. If it breaks out, it is likely headed for 2147 zone. If it does not, it might retest the support. To conclude If it breaks out above resistance, YEN is going to weaken causing the yen pairs to rally. If it does not break out, then the reverse will be the case. Cheers!...
Got piped out on this after first enttry. Now waiting for a candlestick formation to re-enter or just stay out until NFP read! Careful trading out there
you can correlate this to other yens! careful trading out there
EUR gathered some upward momentum against the buck in the past couple of days because of USD weak data. That upward momentum could be dying out as price has hit a speed bump. If USD continues to deliver bad data, EUR can keep rallying. Pay close attention to fundamentals and remember NFP is this FRIDAY! careful trading out there
Bullish bias was built based on price structure and fib levels. This is a reversal play which is very risk because of fundamental divergence between ECB and the FED. I look to go long on any bullish candle stick formation preferably the morning star. I have my previous projected move attached so you can also take a look at that before deciding on a trade. Cheers!!
As SPX500 is starting to show some bearish movement, a potential head and shoulders on daily chart and a bearish engulfing for the end of January on the monthly chart. These structures could be the precursor for a reversal or a major pullback and it could mean a strong YEN in the month of Feb.
ONE TO ONE R:R. THIS IS A HIGH VOLATILITY PAIR SO BE CAREFUL
After printing a daily shooting star this pair is finally printing another trend reversal pattern on the 2hr. This high probability of paying except if the fundamental tone changes. Careful trading out
leave your comment and ideas