EURJPY Update for October 23, 2015

23 October, 2015

The 133.42 – 134.05 target hit in EURJPY. I pointed out in my October 15th analysis how EURJPY failed to challenge the channel top and fell down from it. My view at the time was that it was too late to short the pair as it was trading near support levels. Therefore, I suggested that we should sell the rallies.  I wrote at the time: looks like there could be some short opportunities should the market rally first. Now that the market has dropped down to 137.35 support it is too late to be an aggressive seller but the sell opportunities could be found at or near 136.33 resistance (if momentum reversal signals confirm the idea) while the support range at 133.42 – 134.05 is likely to be an area to attract buyers and would therefore make sense as a target level for short trades. 

Market rallied from the support, hit the 136.33 resistance and fell down to the target range suggested in the report. Currently the pair is trading inside my target range and is about to create a bullish pin bar in 4h chart. This suggests to me that it is time to close the short trade and bank the profits. The trade brought over 230 pips profit to our traders.


Source link  
Stock markets were underpinned

Asian Market Wrap: Core yields moved higher and stock markets were underpinned as Trump tweeted enthusiastically about the summit with North Korea's leader...

Gold spikes to near two-week tops

Last week’s recovery move supported by persistent USD weakness. Reviving safe-haven demand/subdued US bond yields provides an...

Gold falls at Friday close to 1275

The key commodity was pivoting around $1285 with support at $1282 and resistance around 1286. The London close, put pay to that as a raft of futures...


Stock market recovery continued

Still, U.K. and U.S. futures are also moving higher, indicating that abating fears over North Korea are keeping markets underpinned, while earnings optimism...

NZDJPY beneficiary of Asian session

With a the NZD is overvalued on one side and Sabre rattling between North Korea and the US continuing overnight there was really only...

Euro above 1.18 against the dollar

Asian stock markets moved higher, with a rally in banks underpinned by earnings reports and helping to offset pressure on exporters and automakers...


Gold support at 1258 but rolled over 15m

Gold remains bullish having posted at high over 1265 yesterday. My bias remains long and I entered again at 1258 last night. However, the intraday...

FOMC held rates steady

The Fed’s reluctance to commit to a time for QT beyond “relatively soon” and the fact that the Fed appeared to be moderately more concerned...

FOMC decision to outline its balance

U.S. markets will have a lot on their plates this week as they continue to assess the June jobs data, global developments in the aftermath of the G20 meeting...


In the past 24 hours Bitcoin has gained 1.58% and reached $6726.5362551. Open your trading account with the best cryptocurrency brokers on special terms today.

In the past 7 days the EUR/USD pair has gained 1.2994% and is now at $1.1781. Start trading and making money on Forex today.

In the past 7 days Ethereum has gained 11.81% and is now at $240.666865931. Have the most popular cryptocurrencies compared online 24/7.


Top Brokers offering Forex Market Analysis



Forex Currencies Forecasts



Top 10 Forex Brokers 2018

# Broker Review
1easyMarketseasyMarkets90%
2FXTMFXTM88%
3HYCMHYCM87%
4Alfa-ForexAlfa-Forex86%
5FxProFxPro85%
6FIBO GroupFIBO Group84%
7OctaFXOctaFX83%
8HotForexHotForex82%
9FXCMFXCM79%
10AvaTradeAvaTrade77%
  


Share: