2019-11-11 • Updated
Recommendation:
SELL 128.9
SL 129.45
TP1 127.9 TP2 127.45 TP3 125.7
On the daily chart of EUR/JPY, bears managed to form “Shakeout-Fakeout” pattern and lead the pair out of the medium-term consolidation range of 129.15-132.15. As a result, the pair triggered AB=CD pattern. Its 127.2%, 161.8% and 200% targets correspond to 127.45, 125.7 and 123.85. Resistance is near 128.9-129.15.
On H1 of EUR/JPY, there’s a downtrend. Bears are dominating at the market, so pullbacks may be used for selling.
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Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...
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Don’t waste your time – keep track of how NFP affects the US dollar and profit!
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