Price got rejected at 61.8 Fibo Extension, 50 EMA. Bearish Trend continuation in my opinion. USD strenght is the key at the minute.
TP1: 0.7885 - 127.20 Fib Extension
I'm aiming with this short for the 1.00000 price level, which has to be retested in my opinion before any new highs happen.
Price felt bellow 13 and 20 MA and couldn't manage to close above the MAs' again.
EURUSD closed the weekly candle with a long legged Doji outside the bollinger band.
Not to mention the massive support zone we have around 1.0510.
This could activate a rocket correction from the last 14 days of downtrend.
Another interesting thing is the movement from November 2015.
After weeks of downtrend the price turned in the last November week at 1.0510...
Entry Date: Thursday 03/11/2016
Entry Level: 104.16
Stop Loss: 103.30
Target 1: 105.50 (50% Size)
Target 2: 106.90
Target 3: 109.90
USD/JPY Monthly Candle was a long bullish candle and in my opinion we will see in this month a similar candle.
The last bullish movement in gold stopped at the EMA 200, 0.382 retracement, and the old trend channel.
I would like to see the gold price going down to $1240 to retest the October low where it might continue the bearish trend towards $1200.
We have important news for the USD this week and the US election is in 10 days.
So there might be soon a lot of action in...
Looks to me like the USDJPY pair is on the way to test the high from July 2016 at 107.50
Around that level is the EMA200 which will be a resistance.
If the Bulls' have collect enough strength to break trough and close over the EMA200 and the High from July 2016, i will expect a bullish movement towards 111.00
Breakout through 10650 will be a short setup down to 10600///10500
Breakout through 10730 will be a long setup up to 10830
I except that the DAX for the first few trading hours goes down to 10650 then up to 10700//10730.