USDJPY BIAS for Week of June 28 2020As a follow up : USDJPY on a current bearish pressure. Waiting for a more clear indication for another ride to the short side.
The horizontal RED line is the Land in the Sand which bears have kept price shy of breaking that level. A break above that line
would most likely change the bias.
Price-action
After a nice push USDJPY is ready to retrace back to its zoneBased on historical support zones and current bullish price movement I decided to trade the market because of short term exhaustion. Please set your stop loss at your respectable daily stop loss limit. If you require more room reduce your lot size.
EURO USD BULLISH✅I personally think that price will retrace back to the 1.10 Support zone as its exhaustion phase before pushing up to the 1.115 Area (1st potential Take profit). Highest Take profit target being 1.15 after another retest to relevant support zone (Swing Trade)
A reason for this is because on the daily chart we can see a wick rejection towards the 1.115 Resistance area. Price has been moving in an uptrend after it has broken the 1.10 Resistance area after price has been moving in a range since the start of April.
Let me know if you see any other confluences, if not please tell me why you disagree. Thanks
Forecast: Short opportunity for EURCHF next week.Price for EURCHF has been trading in a range for some time. Now, price is at resistance and a high volatility two bar resistance has formed. This is very significant. I think it will push price downwards to the next support. Whatever happens after that support is left to the market. I expect few pips from this short trade. Somewhat like 50 pips.
Forecast: Short opportunity on EURUSD next weekThis is a eurusd short opportunity for the coming week of trading. I see exhaustion of the bullish trend at the resistance and this is followed by a three bar reversal with momentum and volatility. That means price will most probably reverse. But since the pair is trading in a range, the fall in price would be like 100 pips or less.