EURUSD recovered the losses from last few days. It appears that the bulls manage to break out of the short term down trend (Red channel).
Blue line represent a strong support line for the past week which is turned into a hard resistance for the EURUSD bulls to breakthrough. I foresee a short term retracement for next week.
EURUSD 4H chart is currently forming a descending triangle.
Look to short with good entry point at the high of the triangle (Resistance)
notice that pattern is confirmed with decreasing volume, breakout should see a spike in trading volume.
SL: 1.12500 (just above double top pattern)
TP: 1.10500 (psychological level, also widest distance of...
Possible inside bar reversal at previous gap has formed in H4 AUDJPY Chart, alongside with a hammer candlestick at friday close.
MFI not in oversold region yet, good entry at blue line.
USDJPY trading within 111.500 (resistance area) and 111.200 (above 200ma) since last friday.
If break above resistance, could see big upside as past few actions within yellow region has been significant up and down until touches either support or resistance.
Look out for the JPY export import data tomorrow, any surprises should see price moving rapidly.
I'm back with some cypher pattern, this time on AUDJPY H4 chart.
I would go long after reversal indication in the PRZ.
look out for AUD data report in 13 hours, price will most probably trade within the PRZ until then.
If data comes out promising, go long on this pair.
Else, price action is going to fill the gap last month (retest support at 82.400...
I am bullish on NZDJPY, will probably go buy tomorrow on open.
Fundamentally if sales report comes out good tomorrow, we could see a bounce.
Price is currently at support, seems to be a good entry point.
Next key resistance level: 78.200 and 78.800 mark.
Good luck trading.
Ahead of Germany GDP outlook, it can be seen that EUR stabilized around the 1.08500 region. Could be a good entry point for long as GDP outlook is bullish otherwise look for breakout indication on blue line for entry
RSI also shown divergence during the last near term bear price action.
Bulls are gaining momentum as shown in the MFI.
Next resistance area is 1.09300.