UnknownUnicorn832543

UnknownUnicorn832543 Updated 

I suspect the EUR/JPY will start it's steady descent to a lower price. The price is consolidated within a descending channel and it seems as if though a double top has formed on the 1 h chart which is a good indicator of a bullish to bearish reversal (it might even be a triple top). Using the Fib extension tool, I identified two possible take profit points....

UnknownUnicorn832543

Looks like a nice descending triangle. Took short position with TP at about 0.87. When it reaches the TP, I'll long again once price reversed. A breakout is likely to happen in the next week or two.

UnknownUnicorn832543

Looks like a possible double top on the Ozzie vs Loonie. Price tested the initial close high at about 1.0065 twice. There is a strong bearish divergence on the RSI, so let's see if the bears can hold and drive the price lower. Stop-loss at 1.0110 - this is 10 pips higher than the 1.0100 level. First take profit level at 0.9850 Hoping for second take profit level at 0.9650

UnknownUnicorn832543

The South African Rand seems to gain some traction against the greenback. It's expected that the South African Rand will strengthen to approximately R12/$. There is a possibility of a retracement to the support turned resistance at 13.2000 level which also corresponds with a 50% Fibbonachi retracement level on the 4 hour chart. If it doesn't pull-back, I'll short...