What happened? Japanese shares fell on Monday…
USD/JPY: bullish "Hammer" still on the table.
2019-11-11 • Updated
The price is still consolidating in a tight range. However, the last bullish "Hammer" is on the table, so bears are likely going to test the 144 Moving Average soon. If a pullback from this line happens, there'll be an option to have a downward movement towards the nearest support level.
The lower "Window" is acting as strong support, so we've got a lot of pullbacks from this level. Also, there's resistance by the 34 Moving Average. In this case, bulls are likely going to test the 89 Moving Average in the coming hours. If we see a pullback from this line, bears will have an opportunity to push the price towards the last low.
Similar
Weaker dollar - cheaper dollar. What else may be a conclusion to be drawn from the USD's weakening?
In a few days, primary Forex currencies will hear what their respective central banks think about the future - and we're about to trade it!
Latest news
Jerome H. Powell, the Federal Reserve chair, stated that the central bank can afford to be patient in deciding when to cut interest rates, citing easing inflation and stable economic growth. Powell emphasized the Fed's independence from political influences, particularly relevant as the election season nears. The Fed had raised interest rates to 5.3 ...
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...