About mePro Trading Africa (http://www.protradingafrica.co.za/) is considered one of the best market analysis and Education providers in Africa.
Founded in 2015 it is one of the fastest growing transparent service providers in the industry with 10 000+ Traders
Another classic example of a cup and handle chart pattern, Guys the markets always repeat them selves, after a while you will be able to analyze the market by just looking at it,
Wait for a handle to form. The handle often takes the form of a sideways or descending channel or a triangle. Buy when the price breaks above the top of the channel or triangle.
This a classic example of a break out after the market tested the High highs 3-4 times,
We wait for a breakout, than a small retest then place trades,
Please send us a text should you have any questions
A broader understanding of where the market is at, this will help you make right decisions moving forward,
As we can see the market crossed the 1.19735 level on the FIB.
PLEASE do comment below should you have any questions,
The pair broke the broke the bottom level of the uptrend line,and the reason of the sell, is due to the strength of the Dollar.
This analysis is based on both fundamental and technical analysis.
The pair has been moving in an ascending channel, and failed to break the top level, There is a huge possibility the pair will continue the downtrend. This analysis is based purely on technical analysis.
Please feel free to make contact should you have any questions.
The CHFJPY is moving in an ascending channel, that wick indicates a possible down trend, will bounce off the support Level, than head-back in an upward direction.
Please leave your comment below, what are your thoughts ?
As we can see, The AUDJPY has formed an Ascending Triangle pattern,even though this is a bullish chart pattern. Breakouts can also happen in both directions. Statistically, upward breakouts are more likely to occur, but downward ones seem to be more reliable.
This analysis is based purely on Technical analysis , Fundamentally, the Australian Dollar is stronger...