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Strifor || EURUSD-Week StartingPreferred direction: BUY Comment: At the beginning of the new week, the euro remains on the buy list, especially if we are talking about the prospect of 1-3 days (before the Fed meeting on Wednesday). This event, as well as the NFP , forces one to be as flexible as possible and be prepared for changes in trading plans at the beginning of this week. Nevertheless, growth is still more likely, but unfortunately, the targets are not as promising as last week. This week, as part of the growth, targets above 1.08000 are not yet being considered. If the dollar's weakness is demonstrated, one can count on growth towards 1.09000 , where there is a large liquidity zone. Two scenarios are considered, where the more likely scenario №1 says about growth near the level of 1.07225 (breakout trade). A less likely scenario №2 is about the strengthening of the US dollar on Wednesday, within which we can expect a fall to the level of 1.06500 . But since technically there is still a possibility of growth to 1.08000 , then in the event of this fall, we can consider going long again according to scenario №2 . Additional comments on this trade will be provided as situation changes. Follow us! Thank you for like and share your views!
Long
by Strifor
1
What's the NEXT? EURJPYHello, friends! This is ESS team. EURJPY is ready for the next wave after a strong rally. Let's check what next happens. This is the EURJPY 4H chart. After breaking through the short bearish extended wave, the chart is currently being drawn in the bullish extended wave. After reaching 618 with the Fibonacci retracement, the 4H orderblock zone flips to convert resistance to support, the candle make consolidation and prepares to draw the next wave. If it break out the RED short-term trend line and then is supported the zone or the short-term trend line and rise, it is likely to rise up within the extended wave for some time. On the contrary, If candle is resisted at RED short-term trend line and breaks down the zone, There is a possibility that it may fall to the bottom of the wave.
by honeyping
Strifor || USDJPY-02/05/2024Preferred direction: SELL Comment: The dollar is expected to fall even when paired with the Japanese yen . By the way, our previous trading idea worked out perfectly, and the target was fixed at the level of 153.222 . At the moment, another approach to this level is expected, with a high probability of its breakdown downward. The trade is short-term, and one can count on such a movement within 1-2 days . The two most likely scenarios for this trading idea are depicted in the chart. Additional comments on this trade will be provided as situation changes. Follow us! Thank you for like and share your views!
Short
by Strifor
3
Strifor || EURAUD-01/05/2024Preferred direction: SELL Comment: Previous trading ideas for this currency pair worked perfectly, and, as expected, the resistance level of 1.64767 has stopped buyers. At the moment, the probability of resuming the downward movement is high. An increase towards 1.65500 is not excluded within the framework of scenario №2 . However, the more likely scenario №1 involves a fall from current prices with a target at the level of 1.63067 . Additional comments on this trade will be provided as situation changes. Follow us! Thank you for like and share your views!
Short
by Strifor
3
LONG EUR/JPY from 166.87It may have escaped some traders notice that the JPY has been hammered in the last few months. So much so that GBP/JPY hit 200.49 earlier today, USD/JPY hit 160.00 and EUR/JPY hit 171.65. Some of these are historic highs, in fact USD/JPY is a 30 year high. I'm unaware of any intervention by the BOJ that would cause the 570 pip fall in USD/JPY (mirrored EUR and GBP) but all the signs are that JPY SELLERS are steaming back into this market and we may see a return to the recent highs. Getting LONG here looks a no brainer as we could see this pair go from WS1 at 166.00 all the way back to WR1 at 171.00 and maybe even higher. The major concern would be if the BOJ DOES intervene which would see the JPY rise sharply. So get LONG this pair with breakeven stops and with luck we could see a shed load of pips on offer.
Long
by forextraplaces
Strifor || USDJPY-26/04/2024Preferred direction: SELL Comment: The long-awaited meeting of the Bank of Japan took place, at the moment it is best to focus on technical analysis. Previously, we published two scenarios where scenario №2 is already active. Everything is unchanged here and most likely near the level of 157 , we can expect a fall with a target at the level of 153.222 . Additional comments on this trade will be provided as situation changes. Follow us! Thank you for like and share your views!
Short
by Strifor
5
Strifor || EURUSD-26/04/2024Preferred direction: BUY Comment: All previous trading ideas for the euro were closed with profit. For now, it's best to wait until next week, but we're already highlighting the two most likely scenarios. The euro remains bullish and there is short-term growth potential. In addition, there are assumptions regarding the level of 1.09000. and even 1.09500 , where the price may be heading. But these are just thoughts and rumors for now. There are two most likely scenarios in front of you; there is a possibility that today the price will record its presence near 1.08000. Additional comments on this trade will be provided as situation changes. Follow us! Thank you for like and share your views!
Long
by Strifor
1
Strifor || AUDUSD-25/04/2024Preferred direction: BUY Comment: The previous trading idea for the Australian dollar was successfully closed with a profit. At the moment, the US dollar continues its downward correction on almost all fronts. We expect further growth for this pair, but of course it will be more limited than before. In our decisions, we are tied to the support level of 0.65010 . Scenario №1 assumes an increase from current prices towards the local resistance level of 0.65474 , and scenario №2 - after a test of the level of 0.65010 , the goal is the same as in scenario №1 . Additional comments on this trade will be provided as situation changes. Follow us! Thank you for like and share your views!
Long
by Strifor
3
Strifor || USDJPY-BoJ MeetingPreferred direction: SELL Comment: The main event of the week is just around the corner. At the end of this week there will be a meeting of the Bank of Japan, where the interest rate will be decided, and most importantly, the immediate prospects for monetary policy will be announced. A large number of market participants expect intervention from the Bank of Japan against the backdrop of a weakened yen , which should strengthen the Japanese currency, especially against the US dollar. On Thursday, the USDJPY currency pair recorded a new high this year, breaking last year's high a month ago. The current aggressive growth is most likely related to the upcoming meeting of the Bank of Japan , and the price of the instrument is simply being increased to confuse market participants. Against this background, we continue to adhere to the selling priority, according to which the main scenario №1 assumes a fall from current prices. But the likelihood of increased volatility is high, especially during a meeting of the Japanese central bank, so scenario №2 is also in our arsenal. We set the downside target at 153.222 . Additional comments on this trade will be provided as situation changes. Follow us! Thank you for like and share your views!
Short
by Strifor
1
Strifor || EURUSD-24/04/2024Preferred direction: BUY Comment: The long-awaited growth in the euro , which we considered and held the position for two weeks. Most of the potential growth has been spent. Buyers still dominate and buy off sales in the market. Most likely, there will be another shot upward towards the level of 1.08000 . However, we limit ourselves to the target at the level of 1.07500. We highlight two scenarios (see chart). Today, just like yesterday, we are waiting for a lot of statistics from the EU and especially the US , against the backdrop of which the expected upward movements may act. Additional comments on this trade will be provided as situation changes. Follow us! Thank you for like and share your views!
Long
by Strifor
1
What is EURJPY's next move that is rising well?!Hello, guys. This is ESS team. We are cheering for your safe trading. So, Let's talk about "EURJPY". It is pleasure to RISING well. Of course, We prepare for the EURJPY's next movement. ::::::::::::::: Currently, It's RISING with middle line's support within the rising channel. If candle is resisted at the GREEN line, It could temporarily fall to the bottom line of the channel. If it breaks strongly through the GREEN line OR the top of the channel, and RETEST, The LONG position will be safe.
by honeyping
1
EURJPY → Buyer strength will lead to a continuation of the trendFX:EURJPY is in an uptrend phase. Regarding what is happening on the chart, we can assume that the bullish trend will continue in the medium term. The market is redeeming the strong drop that happened at the end of 2023 on the fundamental background in a few months. The Japanese Yen is weakening strongly on the back of weak regulation by the Central Bank of Japan. There is a high probability that the mentioned resistance will be broken in order to further strengthen the trend. Resistance levels: 164.9, 165.4 Support levels: MA-50, 163.9 The ascending triangle demonstrates the buying power in the market, the fundamental background confirms it. A break of the triangle resistance will be a trigger to buy. Regards R. Linda!
Long
by RLinda
8
EURJPY - Bearish Crab Pattern Indicates Potential ReversalEURJPY is currently showing signs of a Bearish Crab Harmonic Pattern (XABCD) on the 4-hour chart, indicating a potential reversal in trend. Additionally, the price is approaching a significant trendline, further supporting the bearish bias. Bearish Crab Harmonic Pattern (XABCD): The formation of a Bearish Crab Harmonic Pattern suggests that the price is likely to reverse downwards from Point D. This pattern typically indicates a high probability of a trend reversal. 4-Hour Trendline: The price is currently at a 4-hour trendline, adding confluence to the potential bearish scenario. A breach below this trendline could signal further downside momentum. Entry, Stop Loss, and Take Profit Levels: Entry: 165.900 Stop Loss: 167.060 Take Profit Levels: TP-1: 164.720 TP-2: 163.600 TP-3: 162.450 Risk Management: It's essential to adhere to proper risk management practices when executing this trade. Position sizing should be adjusted to ensure that potential losses are within acceptable limits relative to account size and risk tolerance. Conclusion: In conclusion, the technical analysis suggests a bearish outlook for EURJPY, with the formation of a Bearish Crab Harmonic Pattern and the price approaching a 4-hour trendline. Traders may consider selling at 165.900 with a stop loss at 167.060 and targeting take profit levels at 164.720, 163.600, and 162.450.
Short
by trading_jupiter
1
Sights Set HIGH for EURJPY?!Here I have EURJPY on the Daily Chart! Currently you can see price back up at the Resistance Area of ( 164.3 - 165.3 ) after having tested the Rising Support 4 times with each time successfully having Strong Bullish reactions ... this Price Action has formed what looks to me to be a Bullish Triangle Pattern! Fundamentally, there's a lot to unpack but with JPY trading down at its 34 Yr Lows and the ECB looking at Rate Cuts soon .. Fundamentals could play a key sticky role! - EUR has their Final CPI and Final Core CPI y/y tomorrow morning followed by Lagarde Speaking so lets see how things begin to play out!! Technically, with this potential Bullish Triangle we are looking for continuation of this markets trend prior to entering this pattern! Back in Dec. '23, price made quite a Bullish Recovery off the 200 EMA and has shown great Bullish Momentum thus far! *If Price gives a solid Break and Close ABOVE the Resistance Area, this could give us a good area of potential Buy Entries -Beware of FALSE BREAKS!! *If Price Breaks and Closes BELOW the Rising Support, I'm no longer interested in looking for Buying Opportunities!
Long
by Novi_Fibonacci