Making lower highs on the bigger time frames. 3 strong resistances to breakthorugh to reach stop loss, good reward/ratio. Forming a doji on the daily resistance on the 4hr. DXY is also on tough support, seeing a rebound in the dollar will force the (EURUSD) down towards target 1.
July 2 - Update - Short EURJPY -- Trade Entered at 128.85
Original Analysis - June 26 - Below:
The global risk-off move is being fuelled by US President Trump slapping tariffs and trade barriers on two of the world’s biggest economies, China and the EU. And it is against this background that we look to go short EURJPY with the EUR under pressure from tariffs,...
Our bottom line in this week’s NZD/USD Technical Outlook noted that, “The near-term risk is for a larger recovery on this rebound with our focus higher while above 6850. Ultimately a larger recovery should offer more favorable short entries near structural resistance. From a trading standpoint, I’ll favor fading weakness while above today’s low targeting a move...
