We can see on the Daily Chart that we were on a consolidation range after a spike up on GBP/AUD and we have just last Friday broke out of the consolidation zone to the downside.
Overall we are on a descending trend, Weekly chart shows us a nice ASCENDING trendline bein broken and being retested in the last couple of weeks.
4-hour chart price is now hanging...
As we head for another market open today, I have identified a new opportunity on CJ.
The Canadian Dollar is showing some strength and momentum to the upside this past few days, and my guess is that this will continue, the CAD has been making new highs all over the markets.
And specifically in this pair (CAD/JPY) we are now re-testing a new higher high -...
Our very own AUD/JPY seems to be on a massive Daily Resistance which makes price lose momentum every time it gets near it.
The most important thing to look for is the 4H chart to make a lower low to confirm our downtrend, finding entries on the lower TF's, like the 30M which is forming a nice market range.
Be on the lookout for it!
Just a personal analysis and personal opinion on what will happen with the New Zealand Dollar against the Japanese Yen, it has shown really great swing with major zone being respected.
Don't take my word for it, do your own analysis and trust your own technical terms. ;)
U.S even with ''great'' fundamentals have its economy still being hurt by economic data with GDP, CPI and Interest Rates being slowed down.
Regarding the Technical with the diagonal downside trend line it is an easy trade to just put your stop loss above where the trend line was last touched and take profit towards the next support.
Thank me later
Long Term profit investment -
ECB - Draghi announced today that they will be careful with inflation and the economy slow down, also stating that they are likely to keep the idea of cutting rates in mind, investors saw this as a bearish sign for the European economy, which will be depreciating the EUR against a basket of major currencies across the markets.
DAX has been on an upward rally for the past few months and has now come to an end. With fundamentals and technical analysis we can clearly see where DAX is now headed, DAX last week managed to break an important level of support with the Trade War and now the Mexican tariffs being imposed by Trump, the market is now on a downtrend potential, with nothing...
Resistance on the daily chart shows that 3 days ago price got rejected, by not only the horizontal resistance line but also the diagonal resistance that can be seeing clearly on the monthly chart, horizontal resistance on which was a really strong level of support and potential reversal for this chart right now.
Stop loss should be above resistance and take...
Diagonal resistance. Price just touched the level again, on which indicates a good downside momentum, with a gap opening and candle being rejected, not only diagonal resistance being touched but also a horizontal resistance.
Stop loss should now be above the gap opening candle, and take profit should be at the next support level .