Technical outlook and ideas for Forex pairs
We have outlooked several promising Forex pairs and the result can surprise you!
AUD/JPY looks exposed
Information is not investment advice
AUD/JPY formed a “shooting star” candlestickon the W1. This week, it’s testing levels below the 50-week MA at 75.45. That’s probably why the pair went down on the news that a pneumonia-like virus is spreading in China: the technical setup was negative and traders took the first cue from the fundamentals to go selling. All in all, we don’t know for how long this will affect the market, but in the short term the pair is vulnerable for the further decline to the support at 74.90. The slide below the 200-period MA on the H4 at 75.27 will confirm the downside. The picture on the H4 also looks like a double top with the neckline around 75.60 – the price will remain under pressure as long as it’s staying below this point.
Similar
Another EUR/USD Trade!
4H Chart Daily Chart We sent out a signal yesterday to long EUR/USD between 1…
New EUR/USD Trade
4H Chart Daily Chart EURUSD declined back yesterday after trying to test its 1…
Popular
Japan's inflation is at 2%, but what about a weaker Yen?
Japan's inflation is set to reach 2% in April's reading, for the first time since 2015. But what about the weaker Yen?!
What to trade on May 16-20?
Last week brought a selloff in markets. Some assets reached the most crucial support levels and are likely to reverse in a short term. Be ahead of trends and make the most out of this week!
Swiss Franc is About To Reverse
Historically, the stability of the franc is caused by the solid Swiss economy and a highly developed banking system…
Choose your payment system
