EURUSD is in consolidation mode and a harmonic pattern is taking shape on H4 chart. 1.272 extension and .786 retracement line up around 1.09250, so I'm placing an order near that level.
EURJPY found support on a descending channel lower side and the short term trend could have turned upwards; maybe a retracement around 127.50 could be a good place to enter long.
Bearish Bat on hourly chart already completed. PRZ lines up with .618 retracement of last decline. Also a bearish divergence on Stochastic reinforces the bearish bias. Follow my trades on www.pimpmypips.com
Looks like EURJPY is printing an inverse H&S on the hourly chart. Moving averages already crossed upward, and a closure above 128.00 may trigger the pattern completion.
Bullish Cypher on hourly chart. Good opportunity to grab some pips heading north.
Nothing more to say, 1.4700 is a former support now should become resistance.
It's a bit early to call this 2618 trade and clearly define an entry point, but we have to be one step ahead of the market. The double top is pretty well marked, as well as it's neckline breakdown. So, what we are waiting for is a retracement to the .618 major Fibonacci level to hop back on the down side. I'm not convinced that the current down leg is over, so I'm...
If you missed the first train southbound as I wrote some days ago, maybe you can get a second chance; price has been rejected exactly at 93.00 so we might see a further weakness in the coming days. Drilling on a lower time frame respect to my former analysis, we can see how the pair is consolidating in a lateral congestion and we can easily identify a resistance...
Finally we got a breakout of the congestion going on since a long period. Needless to say this is a very good long opportunity: previous resistance should become support (120.40) fibonacci .382 confluence pivot daily should provide support
Double top at previous structure level. I'm expecting a snap in volatility in the days ahead which could lead to a breakout on the down side. Should this happen, prices could be pushed back towards last lows.
Heavy downtrend now consolidating during asian session. Should price retrace till 1.3900 I'd look for a sell opportunity as this level shows some nice confluences: daily pivot point previous structure level (support) major fib level (.618)
A bearish Bat could be forming, which reversal zone lines up with a previous structure. Further confirmation is the .618 fib retracement from las drop and a possible retest of the ascending channel trendline as resistance.
EURJPY looks like it has broken a bullish flag popping out from the descending channel. On the hourly chart 130.25 level could turn to support and lead price higher towards 131.5. This opportunity has a very good risk to reward ratio.
Even if the main trend is still bearish on a daily timeframe, drilling down to hourly chart we can see some sort of relief taking shape. Moving averages crossed over providing a bullish rotation signal, so I could wait for a retracement in a confluence area marked by static levels (fibonacci) and EMA21 to go long.
The pair seems to have broken the bearish flag and could be resuming the downtrend. A retest of 92.00 area could be a good level to sell. There's some confluence supporting this idea: - 92.00 is a major psychological level - previously support, now should become resistance - EMA21 could also act as dynamic resistance - resistance area lines up with fibonacci level 38.2%