Friday's low and close to 61.8% of the 108.65-110.02 rise. Looking for uptrend to resume and clear May's 110.02/05 highs, the 200-DMA at 110.18 and 61.8% of the 113.75 104.56 drop at 110.24, for a run at 110.85, Nov's low & 61.8% of the 114.73-104.56 drop. Source:eFXplus
Trades below 109.30 daily tenkan Fri and cracked twin Fibos, 100-DMA and the up TL from March low by 108.75. However, a long legged candle doji into Frid close and further long legged action early Mon, o 100DMA suggest supply fade. We have a bid by daily cloud top at 108.05 but a close above converged 10DMA and tenkan, 109.30, could force strategy re-think. Source:eFXplus
TECHNICAL - SHORT-TERM — Latest Rationale Pair pierces the 61.8 Fib of 1.1553-1.2556 and sets a new trend low to keep bear sentiment elevated. RSIs are biased down so further losses are likely. We look to sell a rally to 1.1970 and will target sub-1.1800 levels once short. Rationale History Initial Rationale May 4, 9:39 AM Bears remain focused on the downside...
- Entry:109.11, Target: 104.00, Stop: 110.70 (Medium-Term) MACRO - MEDIUM-TERM — Latest Rationale Data in this trade have been derived from a short CHF/JPY position promoted by Morgan Stanley Research. "The time has come for us to re-enter our structural,longer-term CHFJPY short position."JPY longs should benetand outperform CHF, given that the structure of...
Simple bullish pattern with oversold stochastic. Excellent R:R ratio.
Buy EuroUSD on pullback around %50 fib level, sto are oversold.