EURJPY WEEKLY ANALYSIS
This pair has frustrated me a lot!
This pair is in a indecisive trend which could suggest the bulls are exhausted. We have been in an uptrend since 07/2013 with a peak in 12/2014. The mid price (50% fib) is 121.800. This is in confluence with AB=CD completion around 120.000
I see many confluences to the downside. A break and close above the Descending channel resistance will invalidate this idea unless it's a clear fake-out.
We are trading above the MA's atm however we have crossed over to the downside and it is the first day of the week so we could see a rally to the 50% Fib (DTL res) before tanking lower to make new lows.
This pair is in a indecisive trend which could suggest the bulls are exhausted. We have been in an uptrend since 07/2013 with a peak in 12/2014. The mid price (50% fib) is 121.800. This is in confluence with AB=CD completion around 120.000
I see many confluences to the downside. A break and close above the Descending channel resistance will invalidate this idea unless it's a clear fake-out.
We are trading above the MA's atm however we have crossed over to the downside and it is the first day of the week so we could see a rally to the 50% Fib (DTL res) before tanking lower to make new lows.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.