2020-03-06 • Updated
If you don’t want to deal with the violent moves of the USD these days, consider crosses, for example, EUR/JPY. The currency pair has been moving down since the start of January as the yen strengthened on the rising demand for safe havens.
On the W1 chart, there are many negative signs: the 50-week MA limits EUR/JPY at 120.90, the 100-week MA is about to cross the 200-week line to the downside, the Awesome Oscillator is declining. We can see that the break below the 61.8% Fibonacci retracement at 118.55 will open the way down to 117.35 (78.6%).
On the D1, there’s still room for consolidation between 118.55 and 120.20. If some positive news appear and EUR/JPY gets above 119.35, the targets will be at 119.80 and 120.20.
SELL 118.30; TP 117.40; SL: 118.55
BUY 119.40; TP1 119.80; TP2 120.20; SL 119.25
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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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