This is my idea on EUR/USD, please leave your opinion on my TA
We are currently in a down trend on EURUSD and have been for some time now, i have been long but closed my position and have now set up a short.
we are very close to a supply zone and bordering oversold on rsi, i will look for confirmation of downwards movement before entering a trade.
So as you can see from my TA i am expecting USD/JPY to rise from here, i have been keeping a close eye on this pair over the last week and my overall outlook has been long and that is staying the same unit i have confirmation otherwise, the pair currently seems to be testing 23.60 fib which is also a key area of support based on price action analysis, it is also...
We have been in a sellers market for some time now with EU, trend line resistance is close by and rsi have been trending down.
any comments are appreciated as im still learning and looking to see others opinions on my analysis
happy trading people
This is my take on USD/JPY, I believe that it is going to head up towards the downwards trend line before heading downwards again, oversold on 4hr RSI and this upwards movement would give USDJPY chance to finish filling the start of the weeks gap. Let me know your thoughts on this :)
We have now made a lower low on the 4hr chart so a retracement at some point soon is possible... over sold on 1hr and 4hr timeframes and possible support at fib level. whats your thoughts please let me know what you think