Japan's trade figures come in, its exports were higher for June but its trade balance was also higher then expectations. Doesn't look as the strong Yen heart exports so much.
USD/JPY Daily Chart:
Price is near Moving Average with period 20 and it's possible reversal zone. If MACD starts rising, we'll have confirmation for opening long trades on daily chart. Bearish candle and RSI reversal give us opportunity to search entry levels for buy positions on hourly chart.
Entry 0.86, SL 0.872, T1 0.83, T2 0.82
alternative entry: 0.85750
This is pure technical, so watch out for UK and US fundamental data today and tomorrow!
Trade your own ideas! Make your own analysis!
Good luck!
SinatraFX
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EUR/GBP pauses upside at 0.8626, near 3-year highs of 0.8652 (Aug 28th).
The pair has shown a decisive breakout above major resistance at 0.8330 on the weekly charts.
Momentum studies are bullish, RSI, Stochs and MACD on the weekly charts support further upside in the pair.
Rising expectations for Bank of England rate (by 25bp) at its August policy meeting adds...
shorting in supply zone...for analyse purpose only
due to the brexit i would just wait a little bit more and dont trade the gbp at the moment..
i am just curious about the outcome
On the Weekly we can see the strong bearish bias with the large red candles all over the place. After the price has formed Bearish Engulfing on the 61.8% FIB it then made LH and came all the way down to the Monthly support level. Was a false breakout of the support when the price came back to retest the prior LH. The level 0.79370 is a very strong resistance as we...
They say that the technical side of the market is already has the information about upcoming news. That's why maybe all the technical analysts are not diving too deep into the fundamentals. I guess it's happening because of relatively same type of the news coming out every month which is why people have same reaction on them. So doing technicals we can just check...
