Technicaly EURJPY is one of the best short on Daily chart , but due to risk on mode JPY has been depreciating and EURJPY rose today mostly because of JPY weakness ,
As us stock markets are near all time high and have fallen this week to 26047 levels and further retracement can be expected as price has been rejected from top line of minor ascending...
If you have seen my previous analysis on oil where we explained how multidays ascending channel may now act as strong support :
Price is moving lower towards retest of same and we expect price to bounce from support as we are in good uptrend ,providing us buy opportunity in oil towards recent highs... break below channel line wud put uptrend in risk....
Price has broken away from descending channel with strong upside move which indicates that long term short on USDJPY is not suitable ,
Anyhow we cannot confirm yet uptrend too as on daily chart price is still in Triangle pattern , since trend is not confirmed there may arise possibility of selling pair at resistance zone for intraday or scalping...
We have seen gbpusd trading in very narrow range these days , which in turn can become a strong move in any direction .
As price is forming Triangle pattern and is in verge of breakout , its better to stay away from pair at the moment and let it break and retest triangle ,
Also beware of false breakouts..
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Price is perfectly respecting minor ascending channel for now... we recommend buying from low and selling from top of channel with stops immediately above or below channel untill channel pattern is not broken..
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Hello traders ,
We can see potential short setup forming in AUDNZD , price has broken away from ascending trendline and retested higher , there is divergence in stochastic and price is also near to resistance zone ,
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Price has came out of ascending trendline which was supporting pair since its start of up movement , we expect price to move down to test support before continuing up, leaving us opportunity of short trade,
Please consider volatility during news before placing trade.
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Hello Traders ,
Price has faced resistance at top of descending channel , if price don't move above same in coming days we expect price to move lower towards bottom of channel ,
Currently towards downside BB middle band and ichimoku cloud is offering resistance ,
As per technical price is bullish , whereas in naked setup we expect price to move...
From past days movement we have seen that price has not been able to break through neckline of probable head n shoulder pattern , which suggests price may move up again to retest descending TL on daily ,
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Here we can see textbook example of how strong resistance can be later used as strong support , In days to come we expect channel top line to act as strong support and prevent price dipping further ,
Over all bias is strongly bullish on Oil as price was already trading in Bullish ascending channel & managed to jump above same coming out of...
Hello Traders ,
Price was trying to push higher retracing back towards resistance but came back sharply lower due to Bollinger Squeeze and minor channel upper band resistance ,
This is normal during consolidation and retracement after strong trend run as technical indicators don't give much space price to move freely ,
EURCHF is still in downtrend but...
Hello Traders ,
USDJPY is currently trading in triangle pattern on daily chart and very close to descending trendline , ascending trendline is not far away too..
We would like to see how this pair reacts in this week on current levels as price is expected to oscillate between 2 trendlines till friday NFP which may provide fresh direction to the pair ,