USDJPY had been trapped in a range bound trading for few days now and the same pattern might continue for some days.
We can find the same range, i.e. between 116.50 and 115.50 stay for today and again short trades might be order of the day for USDJPY. RSI is just around 40 mark and currently will support trades in both directions.
Trade: Sell USDJPY @ 116.45 for Profit Level @ 115.85 and Stop Loss @ 116.75 Target is at 115.51
USDJPY had been trapped in a range bound trading for few days now and the same pattern might continue for some days.
We can find the same range, i.e. between 116.50 and 115.50 stay for today and again short trades might be order of the day for USDJPY. RSI is just around 40 mark and currently will support trades in both directions.
Trade: Sell USDJPY @ 116.45 for Profit Level @ 115.85 and Stop Loss @ 116.75 Target is at 115.51 usd/jpy chart analysis
Since Euro reach to the 1.3030s support level that we mentioned yesterday as 1.3020s and it couldn't brake it out we expect euro today to move up again to reach 1.328s resistance level.
The general trend is up as far as 1.2640 remain intact targets now at 1.3500 and 1.3200 target then at 1.3420.
The key resistance will be at 1.3200 and the key support at 1.2900.
The European currency did not face any problems in breaching the barriers ahead of it except the 1.3220 and the credit goes to the supporting fundamentals on Germany which indicated improvement in industrial and employment which is considered the best since 1990, this came a good initiative for further rate hikes in the coming year in the Euro Zone. On the American economy we witnessed the release of some what good PPI data whereas they aren't good enough as they were hoping for compared to the CPI data released earlier; nevertheless expectations indicate the power of the European Union currency that minimized the barriers to the 1.3500 except for the 1.3365.
The general trend is up as far as 1.2640 remain intact targets now at 1.3500 and 1.3200 target then at 1.3420.
The key resistance will be at 1.3200 and the key support at 1.2900.
Euro was natural yesterday Since it couldn't breach up the 1.3245 resistance level, but since euro stopped at 1.3050s support level last time which seems to be the end of the correction wave it rallied up to hit the mentioned resistance at 1.3245. hence we still expect euro to move in the upside today.
The general trend is up as far as 1.2640 remain intact targets now at 1.3500 and 1.3200 target then at 1.3420.
The key resistance will be at 1.3200 and the key support at 1.2900.
USDJPY had been trapped in a range bound trading for few days now and the same pattern might continue for some days.
We can find the same range, i.e. between 116.50 and 115.50 stay for today and again short trades might be order of the day for USDJPY. RSI is just around 40 mark and currently will support trades in both directions.
Trade: Sell USDJPY @ 116.45 for Profit Level @ 115.85 and Stop Loss @ 116.75 Target is at 115.51 chart analysis
EUR/USD - Euro Dollar
Short term (Intraday)
1,3307. EUR USD is in an uptrend supported by 4H exponential moving averages. EUR USD is in a consolidation after the last bullish movement. The volatility is low. Bollinger bands are flat. Oscillators are neutral. The uptrend should continue to gather momentum. The target is expected at 1,3500.
=> We could take a long position at 1,3300. We will put the stop loss below 1,3260 (-40 pips). The targets are 1,3350 (+50 pips) 1,3380 (+80 pips) 1,3400 (+100 pips) 1,3500 (+200 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 2.
Last week was correction toward the downside for euro, this week we expect it to continue in this correction to hit 1.3020s support level. since euro couldn't brake out 1.3360 last Friday due to the economic data that came out in the American session.
The general trend is up as far as 1.2640 remain intact targets now at 1.3500 and 1.3200 target then at 1.3420.
The key resistance will be at 1.3200 and the key support at 1.2900.
Euro yesterday hit the critical support that we mentioned before at 1.3140s, and it just closed at it. therefore we expect today from euro to continue in the correction toward the down side
The general trend is up as far as 1.2640 remain intact targets now at 1.3500 and 1.3200 target then at 1.3420.
The key resistance will be at 1.3200 and the key support at 1.2900.
Re: Daily Trade forex Recommendation USDJPY
Hybrid Mode
