EURJPY has shown real buying momentum since the 10th of April. Resistance at the 126.500 may cap the bullish buying momentum if JPY trade balance data proves to be good. Forecasts expect to beat previous trade balance which may favour the JPY, However, the EUR may continue up for a little longer if 126.900 is reached. The best option is to wait for a SELL...
The EUR/GBP has been in a strong downtrend since early January, Price has come to Role reversal level at 0.86550 level where we may need to see whether this level will place a hold on buyers and introduce sellers. My plan is to short this level but I wait for price confirmation.
Please remember RISK MANAGEMENT!
Brent Crude oil has formed a visible pattern on the Daily TF. as you can see the trendline has been broken from the bottom, there may be a potential sell signal around this area. My minimum target is 52.55 where we might find the support area.
Remember RISK MANAGEMENT!
GBP Strengthened due to Brexit headlines. As we see, this supply zone is a current battle for the moment but we may eventually see a break to the upside within the next weeks. We hope to see the GBPCAD fall and find support at 1.7250 as this will be our take profit level.
Remember RISK MANAGEMENT!
As we know the GBP has strengthened in the past couple of days but seeing the bigger picture, Bulls may be wearing out as the 4HOUR timeframe is starting to show signs of rejection around the supply zone. We wait to see a candlestick pattern form at the resistance before entering the market.
Remember your RISK MANAGEMENT!
A doji is formed at the supply zone which indicates indecision in the market, a break below the candlestick gives sellers more reason to sell as price creates a new low.
Price has tested the are of resistance twice this year, will there be enough bears to push the market lower?
Bulls are discomforted around this level with the resistance around 79.89, Bulls may be attracted to the if price trades higher above the 79.90
Risk management is IMPORTANT!
