Prices are below KUMO Chico crossed its KUMO and just broke it + exhaustion on the last candle. Expect downside to at least 1.81300
...here we go, similar setup as in the EURUSD. P!
Even i have my long position setup on the Dayli, i would like to show you this setup. Price price produces a slanted coil (small one), washes out the stops above and below and finally resumes the main trend. Here we even have a nice support zone (green), where it is super nice to enter. I allways put my stop below the stop running spike, or on bigger scales even...
Prices did not hold double resistance (Tenkan Sen + Kijun Sen) today. They should now test the top of KUMO, which is very thin suggesting that a change of trend could be easily done. 1st target = Weekly TS (orange) 2nd target = Top of KUMO (red) 3rd target = Weekly KS (purple) Good luck
Yen long positions on the futures market are at record highs and historically any high risk event to the dollar supports the Yen as investors seek to protect themselves from uncertainty. Price rejecting the 50% fib level and an interesting candle formation lead to a reasonable conclusion that further downside gains are to be made this week. Poor US news will...
As it's a non farm week markets will historically trade sideways pending the release of Friday. The weekly close below the 61.80% fib indicates further downside gains with a rest of the 200EMA and 50% fib likely. At this point it's likely price will break or correct at the 50% fib level towards the 76.4% or 38.2% fib levels where it will likely consolidate until...
Quite a solid symmetrical triangle forming here and getting very close to the apex. Profit targets based on previous structure. (Zoom out to see lower target structure.) Trade a close outside the triangle.
Last friday price held well on KS. Since we've had three consecutive bullish candles, I expect a short retracement before going up again. We should probably test the top of the KUMO, corresponding to the 61.8% fib retracement.