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.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.