czwartek, 18 listopada 2010

Currency Sticks Pairs Analysis

Current level-8632

Longer term trade still bearish, now the main bearish trend line has hold weekly close during 0,89 area

Intraday: lower valleys in place but keep 38,2% fib, Note the descending wedge created with bullish ramifications. Strategy: sell on strength to 0.8700 around objectives during 38,2% FIB or reverse positioning on a brake on 0.8720s

Profit law affect gold silver and Platinum media areas

Current level-1.0027

Long term bias for USD/CAD remain neutral, solid foundations formed now around parity level.

Intraday: holds 0.9980 aid although bias remains bearish. while prices quote above parity levels, we see that try small long positions against 1.0100-1.0150s or turn a braking under 0.9980.

Current level 65-130.

Long term bias remains bearish and break through previous year lows retains the bears in the control of the couple.

Intraday: the downside with Channel divided and obtain a de-commitment to 131.00s but still unclear direction. Stand sideways until we get a clear braking and turning over 132.00s or 129.80.

Forex Commentary: Gold pin bars recap, 9th November 2010

Forex commentary:

The dollar gained strength today as European countries that are heavily indebted were behind the headlines, the cost of protecting government debt against default increased substantially in the last week in Ireland, Portugal and Spain.

The euro has reached its lowest level in over a week against the dollar, hitting a low of 1.3750 today. the dollar was against a basket of currencies as the dollar increased at the rear of the currency market uncertainty today.

Negotiation/chart settings in the foreground:

GOLD

Gold formed a couple of good pin bar Setup last week that then pushed higher and savvy traders netted some seeds very decent.

We sent pin bar last Friday in the comment of Member before it came, broke with resistance and did what was an all time high. lower Price has rotated in Florida today close to, but this setting might have provided a risk of 1-2/reward if it was traded successfully. installing bar pin from 3 November worked very well.

1289340165-clip-8kb

For deeper analysis of the major currency pairs and analysis of forex price action, check out my forex trading course.

Other markets:

On Wall Street stock fell today for a second day in a row as sell collected up closing, led by big losses as stocks of metal and Bank.

The Dow shed 60.09 points, or 0.53%, S & P 500 has lost 9.85 points or 0.81%, the Nasdaq lost points 17.07 or 0.66%.

The next important ads: 11/10

Safe boot: China – trade balance
06: 30: Britain – BOE Gov King speaks
06: 30: Britain – in BoE inflation report
09: 30: Canada-trade balance
09: 30: United States – trade balance
09: 30: United States – Unemployment Claims
2: 00 pm EST: speaks of the eurozone – ECB President Trichet
8: 30 pm EST: Australia – employment change
8: 30 pm EST: Australia-unemployment rate
10: 00 pm EST: China – CPI y/y

Comment by installations of Trade Forex: EURUSD and Daily hit support, Ocotober 27 2010

EURUSD:

The EURUSD moved at a low level of 1.3733 today, this is close to the support that arrives in about 1.3700, traders short from quality pin bar installation of Monday probably took profits as price moved to this obvious support level.

Could we see price consolidate and rotate upper if support approximately 1.3700 can contain, if only we could see push down.

1288221466-clip-9kb

AUDUSD:

The daily moved lower today and hit support near 0.9650 before closing approximately 70 pips off its low figures of intra-day begin to push higher and we may see this pair to stay in a range between approximately 0.9650 and 1000 for the short term.

Notice on 4 HR Daily chart below which a setup fakey started this the last bear Moves.

1288221824-clip-11kb

For deeper analysis of the major currency pairs and analysis of forex price action, check out my Forex course.

Comment:

The dollar gained strength today while stocks and commodities weakened on doubts on how aggressive the Fed will act at the next week policy.

"The dollar's slide since September was pricing in aggressive price action by the Fed about $ 1 trillion," said Omer Esiner, Chief market analyst at Commonwealth. switching However, market participants because they started to reduce expectations that the Fed will act this aggressive, leading to the recent rise in the dollar.

The dollar was against a basket of major currencies today, with the index USD 0.48% towards the 78.084.

The Dow fell 42.18 points, or 0.39%, the S & P 500 lost points 3.19 or 0.27% and the Nasdaq added 5.97 points or 0.24%.

środa, 17 listopada 2010

Trade idea Update: EUR/USD – sales of 1; 3920

EUR/USD – 1.3810

Original strategy:

Buy at 1.3720, Target: 1.3820, Stop: 1.3685

New strategy:

Sell at 1.3920, Target: 1.3800, Stop: 3955

The single currency continued to keep the above trading-day support in .1 3735 and has recovered, suggesting consolidation with mild upside bias would be reviewed and break the Kijun-sen (now at 1.3855) would have a retracement Ichimoku cloud down (now at 1.3895), but the renewed selling interest should pop up around 1; 3920 and get another decline. Break of that aid would extend a more fall to the 1.8 3690-97 (61,8% projection of 1.4283 to 1.3823 measurement from 1.3974 and earlier support) but the loss of momentum would limit the downside to 1.3650.

Against this background, we see to enable short recovery. only above 1.3944 (38.2% Fibonacci retracement of the 1.4283 to 1.3735) would postpone and risking retracement to 1.3974 (yesterday's high) before the prospect of another decline.

Forex Trade Setups Commentary: EURJPY rotation higher, Dollar Index reversal, 20th 2010 Ocotober

As we discussed yesterday, the EURJPY did turn higher, however the rally was a bit stronger than expected, as it was in the other currency pairs as well.

On 8 and 9-day ema is still trying like will lower transverse soon, we could see a move lower from here but we'd like to see 1 hr graphs or signal confirmation of price action for 4 hours before committing any new courts.

1287617039-clip-12kb

Classification of dollar:

The below chart is the index of the dollar, we put this to show how yesterday is toro move quickly in the USD was reversed today as bears right rear stepped in to sell the dollar down on the back of continued weak fundamental data.

1287616769-clip-14kb

For deeper analysis of the major currency pairs and analysis of forex price action, check out my forex trading course.

Comment:

Note: We did get a rotation today in most majors as we discussed in the commentary yesterday, however, given the depth of the selloff yesterday and the strength of the rally today, these two forces have effectively neutralized with one another. Personally, I'm sitting on the sidelines and waiting for some strong h 1 or 4 h action price signals before committing a new short.

The dollar weakened today as investors anticipated that the Federal Reserve bank will soon provide cheaper stimulus. the dollar dropped across the Board against other majors on the back of the talk that the US Central Bank plans to spend $ 500 billion in bonds purchases the next six months, with the ability to commit to doing more in the next 18 months.

"Weak dollar on November 3, FOMC meeting is clearer now trade. investors want to continue on this path," said Amelia Bourdeau, senior currency strategist at UBS in Stamford, Connecticut. "Currencies (many) plunged against the dollar yesterday and investors are buying them back. "

Trade Idea Update: USD/CHF – Stand aside

USD/CHF-9688

New strategy:

Stand aside

Despite trading-day rise to 0.9728 (only reached the destination indicated on the upside to 0.9725-100% projection of 0.9548 to 0.9685 measurement from 0.9588), price has retreated from it, suggesting consolidation with mild downside bias would be reviewed and fall to 0.9657 (downstream of the point in the Kijun-sen and the Ichimoku cloud up) is likely, however, during the lower Kokemäki (now at 0.9616) is needed to confirm up up and a test of yesterday's low at 0.9588.

On the upside and would entail a above resistance stronger retracement latest decline of 0.8 9758-60 (previous aid and 50% Fibonacci retracement of the 0.9972 to 0.9548).

When the near term are still mixed, stand aside in the meantime.

AUD / gain on u.s. holding 8-11 April

November 8, 2010 posted in Yohay
Filed under forex news | leave a comment

And enjoy strong indicators for big profits after the retention AUD / USD QE2 rooted in the high range. Whether the State can be the next move. Technical and fundamental social trends is a quick update here.

aud to usd November 8

AUD $ 1. 0120.

AUD / USD technical

Asian session: AUD / USD trading, in narrow range, in direction of both the level of the range of 1. 0080 around.Current 1.0180.Further: under 1. 0080, 0023, 1, 1.0000, 0... 9920, 0... 9850, 0... 497.5, 0... 9669. 1. 0180, 1. 0220, 1.03). To parity now becomes strong support. AUD / USD looks forward toward unknown area).

AUD / USD Foundation

All the time is GMT. Emphasized the most important events.

00: 30 Minutes ANZ job ads :+0.6% %-official job figures.16:30 United States FOMC Member James Bullard talks.20:30 United States FOMC members Kevin Warsh talks.00:30 (fire) plus NAB business confidence.

AUD / USD attitude

Gave Australia surprisingly Australia rate hike to increase, and more good position send rise.QE2 weakened, USD, and AUD / USD new historic highs. is shrugged gold.The Australia off Green back, so job report.Employment numbers Australia later this week probably Australia help. Currensee community: 92% are short, 8% is long. 324 Account of actual this pair in the moment of trades to open position. Community sees big fixes?

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Tags: ANZ job ads, AUD / USD technical analysis, James Bullard, Kevin Warsh, NAB business confidence

A Forex Trading strategy in a phase of master

Wystąpił błąd podczas deserializacji treści komunikatu odpowiedzi dla operacji „Translate”. Podczas odczytywania danych XML został przekroczony maksymalny przydział długości zawartości ciągu (8192). Wartość tę można zwiększyć, zmieniając właściwość MaxStringContentLength obiektu XmlDictionaryReaderQuotas użytego podczas tworzenia modułu odczytującego XML. Wiersz 1, pozycja 8679.
Wystąpił błąd podczas deserializacji treści komunikatu odpowiedzi dla operacji „Translate”. Podczas odczytywania danych XML został przekroczony maksymalny przydział długości zawartości ciągu (8192). Wartość tę można zwiększyć, zmieniając właściwość MaxStringContentLength obiektu XmlDictionaryReaderQuotas użytego podczas tworzenia modułu odczytującego XML. Wiersz 1, pozycja 9086.

Forget everything you have learned up to this point in your trading career, because if you truly want to master a new forex trading strategy you really need to wipe the slate clean of all the confusing indicator and software based trading systems you have likely used thus far. One of the biggest problems that plague traders who are trying to adopt a new approach to the forex market is that they seem to bring a lot of preconceived notions and failed trading concepts with them. If you really want to excel at forex trading and adopt a fresh new trading strategy, you need to focus on one strategy or way of thinking and stop allowing previously failed trading methods to influence your current perspective on the market.

• Train your Brain

Learning to master one trading setup at a time will help you properly train your brain to become more disciplined and objective, two characteristics that you absolutely must possess if you wish to excel at forex trading. The process of truly mastering and “owning” one forex trading setup at a time might take months or even years to accomplish, but your chances of making money are increased dramatically by doing so. After you completely master one trading setup you will know almost instantly whether or not your setup is present, there will still be some discretion involved, but owning and mastering a setup means that you have fine-tuned your sense of discretion when it comes to deciding which trades to take and which ones to pass on. Many traders search long and hard for some “holy-grail” trading system that allows them to avoid having to develop their discretionary trading skills, unfortunately for them, professional trading inherently involves a fine-tuned sense of being able to discern between A, B, and C grade trade setups.

The discipline and objectivity that you will require as a result of learning to master one forex trading strategy at a time should spill over into other areas of your trading such as managing your risk and remaining calm and collected. When your thoughts are scattered on multiple trading strategies and (or) you have little confidence in the strategy you are currently using, you are obviously not going to make very wise trading decisions. Learning to master and “own” one forex trading strategy at a time will solve both of these problems because your focus will not be scattered amongst multiple strategies and you will naturally gain confidence in each setup as you master them one by one. Essentially, our goal in mastering one setup at a time is to reduce variables in our trading, many traders do they exact opposite when starting out by actually increasing variables through analyzing greater and greater amounts of technical and fundamental market data. Yet, the reason most traders lose money is not because they aren’t analyzing enough data, it’s because they over-trade, over-leverage, and analyze TOO MUCH data.

• Learn to Think like your Mentor

Obviously, if you are looking for a new trading strategy or mentor, what you were doing before was not working for you. Thus, it is paramount to your success as a trader that you adopt the same trading philosophies that your new mentor or trading strategy teaches, wash your mind of what you have learned thus far and completely immerse yourself in this new approach to the markets. In regards to what we teach here at learn to trade the market, this means learning to master one price action setup at a time, as this is how I initially found success in the forex market and so it is also what I recommend all my students do. As I have stated previously, after you master one price action setup you can move on to master another, until eventually your forex trading arsenal is fully loaded.

• Specialization is the Universal Key to Making Money

What do most people that make a lot of money in this world have in common? What do Tiger Woods and Bill Gates have common? Or how about George Soros and Venus Williams? At first you might say “nothing” besides the fact that they all make a lot of money. But what is the fundamental reason, behind all else, that these people and others like them make so much money while the rest of the world struggles to get themselves out of bed in the morning? One word; specialization.

People that make a lot of money focus in on one thing that they are passionate about, and they do it over and over and over until they achieve the result they are looking for. Simply put, you cannot really make a lot of money at anything in life if you master nothing. All of the people in the above example have literally “mastered” one thing, sure they had ups and downs along the way, but they did not let that bother them, instead they transmuted this negative energy into motivation and pressed on because they believed in what they were doing. Had they got involved and distracted with numerous other side-projects or interests they simply would not have achieved what they did. In forex trading we need to focus on one price action setup at a time and become a “specialist” in it, get to the point where you find yourself being someone that other traders look to for advice on the setup that you “own”. Become an authority on each price action setup before you move on to the next, there is no sense in doing anything half-ass in this world, and trading price action setups is no different.

• How to Master the Setup

Mastering one price action setup at a time is accomplished through literally making it the only setup you think about or look for when interacting with the market. You essentially live, breath, and sleep this one setup until you feel confident you know every angle and condition it can or should be traded in. Keep a trading journal to record under which market conditions the setup excelled in and which conditions it performed weaker in. Find all the information out on the setup you choose and learn everything you can about it. Once you do this you can begin implementing this knowledge on a demo account, only after you master this one setup on a demo account should you attempt to master it on a live trading account. If you find you are becoming consistently profitable with this one setup on a live trading account and you truly feel like you “own” it, then and only then should you think about adding a new setup to your trading toolbox.

• One Setup does not mean One Variable

In closing, a very important distinction to make here is that one price action setup does not only mean entering a trade when you see a well defined pin bar or other price action setup. By learning to master one “setup”, we mean you learn to master trading that particular setup in a particular market context. For example, you might learn to master the pin bar setup in a trending market and only enter or exit at confluent levels within the trend, this is an example of how a “setup” can mean the actual price action setup itself and the market conditions that it is traded in. So, in order to fully master one price action setup you must learn to master this setup in one particular market condition, perhaps you want to master the fakey setup in range-bound markets, or the inside bar in down-trending markets; the totality of the actual price pattern itself combined with the particular market condition you trade it in is what you must master in order to consider yourself a “master” of one forex trading strategy.

If you would like to find out more about my price action strategies as well as my “mastering one setup at a time” approach to the markets, checkout some of the other cool areas of my site as well as my forex trading course.

Visit the course page here: forex trading course –  Good trading as always – Nial Fuller

Here are some other parts of my site you might like to check out

What is Price Action? – Forex Price Action Video Tutorials – Forex Strategies Articles – Trader Development Articles

You may also be interested in the following 4 articles

Why Most Traders Fail at Forex Trading , Less is More in Forex , Keep it Simple Stupid Forex Trading Method, Trading Pin Bars from Key Levels

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AUD/USD Nov. 10 – parity depend support

November 10, 2010 posted by Yohay
Filed under forex news | leave a comment

AUD / USD, and start to feel the heat from the European search support for parity. Is, from the Australia high range or to increase employment figures from?. Technical and fundamental social trends is a quick update here.

aud to usd parity support november 10

AUD $ supports parity.

AUD / USD technical

Asian session: active sessions in both directions 1. 0023 to test range 1... 0080 further levels between parity.Current Australia: under 1. 0023, 1.0000, 0... 9920, 0... 9850, 0... 497.5, 0... 9669. 1. 0080, 1... 0180, 1. 0220, 1.03). Parity's strong support line now. 1. 0180 Is uncharted territory before a strong line of resistance.

AUD / USD Foundation

All the time is GMT. Emphasized the most important events.

00: 30 Minutes Australia mortgage. Expert +1.1%. +1.3% Actual. Australia positive.2:30 China trade balance. Expert +25.3 yen. Actual +27.2 circle. Requests United States unemployment at 13: 30. Expert 451 K... 13: 30 Minutes United States trade balance. Experts - 45 billion.19:00 United States federal budget balance. Experts - 153 billion.00:00 Australia MI inflation expectations. 00: 30 Australia employment data. Employment change expert + 20 K. Unemployment rate 5%.

AUD / USD attitude

QE2 $, weaken, and then sends a new historic highs AUD / USD. So is gold.European problems begin and weigh around the world. Help in Australia employment numbers probably Australia. Currensee community: 86% is short, 14% are long. 354 Account of actual this pair in the moment of trades to open position. Community sees big fixes?

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Tags: AUD / USD technical analysis, employment in the federal budget balance, home loan, MI inflation expectations, trade balance, and unemployment claims that the unemployment rate is

wtorek, 16 listopada 2010

Ireland [video] Unfortunately, Australia strength and skill level

November 8, 2010 posted in Yohay
Filed under Forex opinion | leave a comment

In an interview on Forex TV download, print, even though the USD weakness, get boost for another week selected Australia strength, dollar, technology level, might have pair, and Julie Sinha talked about the main events of the week. Please enjoy!

Last week the QE2 in very intense many central banks non-agricultural decisions to evaluate without wrapping it in amazing farm and around the world. Times this week in the strength of final last week still be some significant events and news - Ireland some unplanned, Ireland, go to post Europe, still suffering from a serious debt problem in more bad news then may.

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Tags: Forex TV, if Ireland debt, Julie Sinha

Forex Commentary: AUDUSD range-bound, 1st November 2010

The daily currently is consolidating into a trading range between 1.0000 to 0.9675. There are chances of consolidation later mid-term elections American Tuesday and u.s. Federal Reserve announced Wednesday as regards quantitative easing.

Generally, these situations where we have a break in a trend and the price action is laterally, we give the favor of the previous trend, then it would be up. However, it's best to wait for a break of consolidation to occur and then look at the strength of breakout and wait for confirmation Settings action price before committing all positions.

1288654483-clip-8kb

Intra-day update:

The Reserve Bank of Australia raised interest rates by.25% today, as you can see in the chart below the market has rallied strongly out this news. it seems that a break off the top of this range is possible in the near future, this is a historic moment for the Australian dollar, further upside earnings are probably in the near future.

1288681104-clip-7kb

For deeper analysis of the major currency pairs and analysis of forex price action, check out my forex trading course.

Comment:

The dollar rose today on the back of production data USA and Chinese forts and as investors wait for the next elections intermediate Tuesday and the announcement of the Fed Wednesday.

In recent weeks dollar's decline has slowed down a bit as traders reduce expectations about aggressive as it could be the fed and betting against the dollar has grown.

The dollar rose to 0.2% against the yen to 80 59 and the euro fell 0.4% for the dollar to 1 3882.

The Dow added 6.13 points or 0.06%, the S & P 500 added 1.12 points or 0,09% and the Nasdaq lost points 2.57 or 0,10%.

Know when to Hold em – know when passing em

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One of the most challenging decisions that forex traders are faced with on a day to day basis is…knowing when to hold on to a trade and when to close it.

This decision is usually the one that gives traders the most difficulty and frustration, and it is something that you must learn to effectively deal with if you want to make consistent money in the forex market. Trade management is often the area that gives forex traders the most trouble; it is relatively easy to get into a profitable trade but it is much harder to manage that profitable trade in such a way that it produces an outcome you are satisfied with.

This article will only focus on one area of the process of trade management; knowing when to hold on to a winning trade in order to let your profits run, and knowing when to close a winning trade and take your money. Pardon the cliché, but as the Kenny Rogers song goes, “You’ve got to know when to hold em’, and know when to fold em”…(If you never heard the song click here: Kenny Rogers)

How to manage a trade with a big open profit…

While there are certainly worse problems to have in the world, trying to figure out what you should do with a trade that is deep in profit can actually be quite puzzling for many forex traders. The problem that traders in this situation face is whether they should hold their trade for an even larger gain that may or may not materialize, or close the trade out and walk away with a very nice profit.

What this decision really comes down to is one of logic vs. emotion. Take a look at the technical picture of the chart that you are trading while completely disregarding how much money you are up or how you feel. When you look at the chart from this perspective think about how big the recent move has been that you have traded, how much has price moved compared to the ATR (average true range)? Do you really believe there is a logical technical reason that such a large move will continue on in your direction before reversing, or are you just being greedy? Remember that just because a trade is heavily in your favor does not mean you should necessarily keep it open. If you are in a trade that is up more than 3 or 4 times your risk, you should really stop to ask yourself, “Do I really believe this trade will keep going up or down in a straight line or is it more likely to experience a correction?” It usually makes more sense to lock in most of your profit or close a trade out that is deep in profit, because if there is one thing we can all agree on about the forex market it’s that it ebbs and flows and doesn’t travel in a straight line for very long except on rare times of economic volatility.

Here is an example of the point above illustrated in the daily GBPJPY daily chart from mid – 2010…

Another example….

How to manage a winning trade in trending markets…

Trending markets can increase the odds of a trade moving in your favor and as a result the chances of being able to let your profits run into bigger gains. One good way to tell whether or not you should try and let your profits run when a market is trending is whether or not new highs (in an uptrend) or new lows (in a downtrend) are being made on near daily basis. If this is happening you can simply trail your stop loss along the 8 day ema or slightly above / below the previous day’s high or low and let the trade run in your favor until it reverses and hits your stop.

Here is an example of the above point illustrated in the recent EURUSD bullish move on the daily chart…

Another example…

How to manage a winning trade in the midst of opposing price action or support / resistance level…

Another factor you want to look for when trying to decide if you should hold your winning trade or fold it is whether or not there is an opposing price action signal or a nearby support or resistance level. A nearby opposing price action reversal signal or strong support or resistance level can be a good reason to close out a winning trade. Also, if there is a previous support or resistance level that has held strong in the past, you might want to use this level for a profit target, usually putting your target just in front of the level works better than trying to squeeze every last pip out by putting your target right at the level or slightly beyond it.

Just as we can use price action signals to enter into high probability trades, we can also use the opposite signal to exit a trade. How many times have you been in a pin bar trade and then after a day or two an opposing pin bar forms? In this case you might want to trail up your stop to just above the high or below the low of the opposing pin bar, depending on which direction you are trading. Opposing price action signals can be used to exit a profitable trade if they occur in the natural course of that trade, however, you should not wait or depend on such an opposing signal to exit a profitable trade, it is just something to be on the lookout for in case you are in a profitable trade.

Here is an example of the above point illustrated on the daily GBPJPY chart:

Another example…

How to manage a winning trade when reaffirming price action occurs…

One of the best signs that a particular trade is a good candidate to be held instead of folded is reaffirming price action. For example, if you are long the market and you get a bullish pin bar or consecutive bullish pin bars that form in the context of the uptrend you are trading you can be reassured by this price action because it “agrees” with the direction you are trading. This is essentially the opposite of the “opposing price action” rule that we discussed in the point above. This reaffirming price action can be a very good indicator that you should hold a winning trade instead of folding it. Learning to “read” a price chart in this discretionary manner is really what distinguishes the pros from the amateurs.

Here is an example of the above point illustrated on the AUDJPY daily chart…

Another example…

How to manage a winning trade in different market conditions…

Another factor to take into consideration when deciding whether to hold or fold your winning trade is the current state of the market. Is the market trending or consolidating, quiet or volatile? In a strong trend you will likely have a better chance to hold a trade for bigger gains, in a consolidating market you are probably better off using support and resistance levels and / or opposing price action signals to exit your trade. It is crucial that you consider what condition the market that you are trading is in before deciding whether or not to exit your trade.

Here are examples of managing a winning trade in a trending market on the daily USDJPY chart and an example of managing a winning trade in a consolidating market on the daily GBPJPY chart:

Don’t count your money when you’re sitting at the table…

When deciding whether to hold or fold your trade it is important that you look at your trade in terms of risk to reward instead of the amount of pips you are up. This is analogous to not counting your money when you’re sitting at the table; don’t count your pips when you are in a trade but instead calculate your risk to reward scenario. Before entering any trade it is very important to figure out how much reward you can reasonably make relative to the amount you are risking. As the trade progresses it is important to remember your pre-defined risk / reward scenario, you really don’t want to take anything less than this pre-defined risk / reward amount unless there is a logical reason to do so like one of the points we discussed above.

If in doubt…

If you find yourself in a profitable forex trade and you are unsure whether or not you should hold or fold it, the first thing you need to make sure you do is NOT let your emotion influence your exit decision as this is one of the most common and detrimental mistakes that forex traders make. If all else fails you can always refer back to this article and the points discussed above, go through them and see if any of them apply to the current trade you are in, you can think of this article as a sort of “check list” for what to do when you are in a winning trade.

The most important and useful thing that you can do when in a profitable trade is to stop and ask yourself, “should I stay in this trade or should I close it?” Have a logical think about it for more than a few minutes and remind yourself that you need to avoid an emotional exit at all costs. Refer back to the points above and ask yourself if any of them apply to you, make yourself a pros and cons list if you need to weigh the advantages of staying in the trade vs. the disadvantages. If after all of this you still cannot control yourself than you might need to seek additional help by reading some of our other forex articles. Producing a satisfying outcome for profitable trades is one of the most difficult aspects of successful forex trading, use the information in this article and the logical-thinking part of your brain to decide how to exit your winning forex trades and you will be in a very good position to profit on a consistent basis in the markets. To learn more about price action and simplistic trading check out my forex trading course.

Here are some other parts of my site you might like to check out.

Forex Price Action Video Tutorials -   Forex Strategies Articles  -  Trader Development Articles – Nial’s Forex Course

You may also be interested in the following 2 articles

Habits of Successful Forex Traders -        ‘The Path To Success – ‘Less is More’

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Technical Analysis: GBP/USD Daily

GBP/USD 1.6004

GBP/USD open 1.5997 High 1.6185 low 1.5949 Close 1.5981

On Tuesday continued pound/dollar decreases significantly with over 230 PIPs in line with the negative feeling of ca-interbank 9%. Cable depreciated from 1.6185 to 1.5949 yesterday, closing day at 1.5981. The British pound is today still hesitant and without large movements. On the 1 hour chart has quotes divided to the upward channel, while the 3 hour chart upward channel looks great. Initial resistance is yesterday's peak at 1.5949. Break above should include the bullish movement further against the psychological 1.6300. The nearest scheme is yesterday's at the bottom of the 1.5949.Will the bellow it should include the reduction of the British pound further down towards the next downward targets 1.5830.Today is the UK BoE quarterly inflation report at 10: 30 GMT quotes move just bellow 20 and 50 EMA in 1 hour chart is showing bearish pressure slim. the value of the indicator RSI is negative and inclining up, MACD is negative and quiet, while the CCI has thin crossed down 100 line in 1 hour chart provides comprehensive easy short tones.

Technical resistance levels: 1.6185 1.6300 1.6426
Technical support levels: 1.1.1 5949 5830.5700

Trading of spectrum: 1.6015-5950

Trend: down

Sell to $ 6004 SL 1.6034 TP 1.5964

Having patience – waiting to Ambush the opportunities

Hey, trader today article tackles one of the most effective weapons that we have in our forex tradingarsenal against common enemies over-trading and beyond-analyzing … that weapon is patience. This article should not be taken lightly, that contains some very important concepts I learned after being in the markets for many years, patience is necessary forex trading success, actually is probably the most important factor you, and this article provides some in patience and how can help avoid trading and lose your shirt in the markets of ...

One of the most powerful tool and more important that all Forex traders have in their Toolbox of negotiation is immaterial tool called patience. The old saying, "patience is a virtue" is as applicable to the world of forex trading as is any.Patience is also the main virtue that most traders are deficient in during negotiation of the markets, one could also say there is a positive correlation between the curve of fairness of your merchant account and the amount of patience that you possess when trading on Forex market. in other words, using the correct amount of patience while the commercial market will cause the curve of fairness to climb much more consistent than pays no attention or little attention to patience, as do most traders.

You just say that patience is important to your long-term business success; However, most people reading this will want to know why patience is important forex trading and how to implement it. The reason why patience is a vital part of being a consistently profitable trader is mainly because patience increases the precision or the "strike rate".As you become more accurate in your trades, obviously you will have less losers and winners, that will have a direct impact on your management plan Forex money. When you hit a winning trades being patient and waiting for that perfect image long installation and then run it without hesitation, essentially strengthen one of the best commercial habits that anyone can learn, that naturally is patience. Trading success depends entirely on the concept of strengthening good habits and eliminating commercial bad habits, unfortunately most traders do the exact opposite, why most of them fail.

Now, let's how can start implementing patience in your routine commercial. If you have studied trading price action for some time, you already have an excellent trading method that will reward many times in the course of being a trader of the patient. Be patient when negotiating with the price action goes something like this: see what it looks like a decent pin bar training, but is going up against a tendency rather strong, because you know that this configuration has a very low probability of work compared to an installation of bar pin with a strong market trends, sit on your hands and pass it, don't think about it more, even if it works out, no matter how just exercised patience, and you'll be rewarded for the more you use it. Now, it's been a day or two, still no good action configurations have price format, then known as the session closes out there's a nice setup fakey that formed with the underlying trend of daily, you enter the parameters of negotiation and leave the trade to take its course.

The scenario above is an example of trading with patience. remember that once you commit to become a merchant patient who can waffle on it, meaning can't be patient for a week and then loses patience next week.Being a trader patient means you could trade only 4 times per month.But if you win on all 4 businesses than take 15 trades and lose 10 of them, you're going to be much later, both financially and emotionally.There is much to say about the power of patience to help you stay calm and objective in all your commercial decisions.

Be a patient trader is only a piece of the puzzle that must be put to the image of the consistently profitable forex trading complete. If not learn to put the correct amount of patience when negotiating with the price action, you will start doing all sorts of things self-destructive to your trading account; over-trading, trading off too low of a period of time, over-leveraging, etc. in a nutshell, you can't become a consistently profitable Forex Trader if you do not understand why patience is a critical component for successful Forex trading and make it a part of your forex trading routine. the power of negotiation of price action and positive habit patience is a very powerful combination that can drastically improve your odds of becoming a great professional. If you want to learn some trading strategies excellent price action that you can set on the way to becoming a profitable trader check out my forex trading course.

Here are some more informative tutorial you should check out.

To learn more about the full power of your mind profit in Forex click here: Forex Trading success is within

Read more about becoming a patient merchant click here : set and forget Forex trading

To learn more about simple price action click here trading strategies : price action Setups

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Forex Technical Analysis

Current level-1.3825

The dollar is in a few after bottoming at 1.1876 (June 7,2010). Technical indicators ascending and trade is located above the 50 and 200-day SMA, currently estimated at 1.3445 and 0.7866.

Yesterday's rise peaked at 1.3974 and current bias is negative, the ceiling at 1.3830 resistance; we expect a pause over 1.3830 selecting reverse 1.3974 and 4089. ruling 1 3756.

Profit law affect gold silver and Platinum media areas

Current level-81.65

The couple is a decreased steadily from 94.96 high.Trade is below the 50 and 200-day SMA, currently calculated at 83; 08 and 88 37.

A bullish momentum emerged intraday area, focus 82.90 resistance area.Initial support is estimated at 81.45, followed by the crucial 80.50 and first resistance on the upside is 81 98.

Current level-1.6017

The pair is in a few after bottoming at 1.4226. trade is situated above the 50 and 200-day SMA, currently estimated at 1.5707 and 1 5323.

Testing 1.6170 resistance area failed and the current bias is still negative above 1.5875 support area we are for a reverse the above support zone, a gain of 1.6299. Intraday resistance comes at 1. c(2007) 6070.

Trade idea: USD/CHF to sales at 0.9620

USD/CHF-9568

Latest candlesticks patterns: N/A
Trend                                    : Down

Tenkan-sen level: 0 9563
Kijun-sen level: 0.9573
Ichimoku cloud at the top: 0; 9645
Ichimoku cloud bottom: 0.9639

New strategy:

Sell to 0.9620, Target: 0.9540, Stop: 0.9655

Even if the greenback resumed later decreased steadily in morning price broke during previous support at 0.9555, lack of follow-up by selling the proposed consolidation would take place and recycling-0.9615/20 cannot be excluded, but count the Ichimoku cloud (now at 0.9639-45) would Cap upside and bring another depression later in 0.9546 would extend weakness vis-a-vis 0.9500/10, however, Oversold conditions should limit the downside to 0.9439 (100% projection of 0.9844 to 0.9555 measurement from 0.9728) and remedies at a later time.

In light of this, we look to sell the dollar's recovery; Only a persistent breach of the upper Kokemäki (now at 0.9645) proposes a temporary low formed possible and risking correction against 0.9700/05.

poniedziałek, 15 listopada 2010

EUR/GBP Daily Outlook

Daily pivots: (S1), 0.8588. (P) 0.8616. (R1) 0.7988. More

With 4 hours MACD signal line crossed above, a temporary low formed at 0.8589 in EUR/GBP and intraday bias is neutral.Note that another case remains mild for as long as 0.8816 resistance possession and under 0.8589 will focus on 0.8530. Nevertheless, break of 0.8816 will enter the withdrawal from 0.8940 is finished and will give stronger rise to be tested again so high.

In the bigger picture, the entire decline from 2008 high of 0.9799 is seen as a three-wave correction that the greater the trend and possibly carried out by three waves down to 0.8067 already.The focus will now be on trend line resistance (now at 0.8895).Sustained break it will signal that long term up trend continues for another high above 0.9799. The downside over, break resistance 0.8530 enabled support will alleviate this perception and specify that the EUR/GBP cannot have stabilised yet; however, note that we also in another case, would continue to look for reverse signal inside 0.7693/8186 support zone.

EUR/GBP 4 Hours ChartEUR/GBP Daily Chart

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Forex Trade Setups Commentary: EURUSD pin bar update/Gold inside bar, 26th October 2010

EURUSD:

Bar pin EURUSD discussed in comment yesterday broke downwards, today, bottom closure from just over 100 seeds from yesterday.

We can see that this pair is starting to trade in a range between approximately 1.4000 and 1.3700. many traders who captured pin installation bar yesterday are now in a "free trade" and looking for a possible move down test support near 1.3700.

1288132938-clip-10kb

Gold:

Gold formed an internal bar/pin today and last Friday was formed a bar small pin bullish, as we can see in the following chart Is gold setting. up to defy the recent all-time highs near $ 1387? it is not clear at this point, but given the strength of recent uptrend is definitely a possibility.Keep in Mind, this setting needs to see a trigger of momentum to break the resistance evident just above the current prices, which would see a move up in the United Kingdom/New York session.The risk of failure of this configuration is high, unless the chart gold can follow through on the resistance to zone 1349.

1288133645-clip-7kb

For deeper analysis of the major currency pairs and analysis of forex price action, check out my forex trading course.

Comment:

The dollar advanced today, increase about 0,8 percent against a basket of currencies. the dollar, however, substantial do lose ground pound after the best of British GDP expected numbers caused an increase in GBPUSD upward.

The Japanese Yen was weaker today against other majors, but against the euro ended the dish of the day. Winning today in the Forex market has been the pound, which rose by about 120 pips against the dollar and more than 130 pips against the euro.

Today's Session has led to a slow-down in recent inverse correlation between stocks and the dollar; stocked with top edges and the dollar advanced 0.8%, against a basket of major currencies.

The Dow added 5.41 points or 0.05%, the S & P 500 added point 0,02 and NASDAQ added 6.44 points or 0.26%.

Forex Daily Outlook – November 09 2010

Posted by anat on November 9, 2010
Daily Forex forecast filed | leave a comment

Canada United Kingdom & Governor Mark Kearney voice is part of the manufacturing and forecasts a significant event production. Today let's wait for us.

United States provides to investors business daily (IBD) /TechnoMetrica research policy and to evaluate the economic and political (TIPP) economic optimism, monthly survey of the relative level based on the consumers has risen to approximately 47. 8 consumer for approximately 900, and yet investigated indicating the pessimism and diffusion index

After United States, drip held total about stock wholesale inventory products wholesalers in 0.2% is. Company is most likely to purchase and have run out of stock, so signal future business spending.

Is Canada in the new housing price index (NHPI), the sales price of new housing approximately 0.4% rise. Rise in housing prices and attract investors because they spur industry activities each month leading indicators.

Canada, BOC Governor Mark Kearney, details, for the delivery of a speech titled "looking back, moving forward: Canada and global financial reform" in the center of the Bank in Geneva of international financial. Use for dropping a subtle clues to the future of monetary policy.

Read the CAD forecast about u.s. $ / CAD.

In Europe, Germany final consumer price index (CPI); prices of goods and services consumers to purchase to about 0.1% in the previous month is. Preliminary release is the earliest, that affect almost like this tend to be.

Europe, France Government budget balance by Central Government revenue and expenditure is until the year value-of like 122. 1 B shows the deficit in the previous month.

And B the value of the import to rise France Japanese trade balance, approximately-3.7 last in Europe, and products exported, reported, while the deficit.

Euro for more information, read the analysis of latest USD forecast and Casey Stubbs.

There is a tendency to dominate the market impact in the valuable, such as total inflation adjustment value output generated by the makers of United Kingdom, production, manufacture of 0.3%, approximately 80% of the total industrial production manufacturing and;.

In the United Kingdom reported trade balance, between value between imported and exported goods is B. in approximately 0.3 to cut deficit was shown.

Later United Kingdom United Kingdom Retail Consortium (BRC) retail sales monitor the retail level in same store sales value, 0.5% of the previous month is like.

Also, British Royal institution of Chartered Surveyors (RISC) house price balance, surveyed property surveyor judgment DI approximately 0.3% rise is based on. Because there is access to the most recent price data thanks to the surveyors work leading indicator of inflation.

Is that finally United Kingdom, industrial production, inflation adjusted values manufacturers, mines, and utility generated output of approximately 0.2% rise. Approximately 20% of the mines and utilities total production?

Pounds, read more about prediction GBP / USD.

Released Switzerland State Secretariat of economic issues (SECO) consumer climate, survey, 3 per month, rising 17 points in evaluating the relative level of approximately 1,100 homes optimism past and future economic situation.

It is to rise to new lending Australia allows home loan, home ownership House about 1%. Excellent gauge to qualify buyers how much of the market in the market.

Further Australia, Australia Bank (NAB); business confidence about 350 shows, improvement criteria in evaluating the current state of business companies monthly survey, relative levels of 10 points of the previous month.

In evaluating the relative level of Australia, Westpac consumer attitudes, past and future economic situation last study of approximately 1,200 consumer monthly employment and climate is big shopping, 3% were similar to last month.

Australia for more information, please read AUD / USD forecast.

New Zealand provides insight view New Zealand (RBNZ) financial stability report Reserve Bank Bank of inflation, growth, and other economic conditions that affect future interest rates.

Japan, economic attitude of the mind is to evaluate the relative level of the current economic situation survey of nearly 2,000 workers about 0.5 point rises in the is still on show pessimism 41.7 point is.

Newer Japan order machine tool manufacturer and deploy initial release, and trends that affect almost like this. Last month in September, 112% in May.

It is today. Forex trading and happy!

? I want to ensure is doing in the accounts of other trade commercial real? check Currensee ? Free.

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Tags: economic attitude of the mind is France Government budget balance, France Japanese trade balance, Germany final consumer price index, home loan, IBD/TIPP Economic optimism, industrial production, production, manufacturing mark Kearney, NHPI to spare machine orders, RBNZ financial stability report, SECO consumer climate, trade balance, Westpac consumer attitudes, wholesale inventories

Daily Forex Update: USD/JPY

USD/JPY daily chart shows a high quality Channel Down chart patterns are formed. The quality of this pattern is grade 8 bars by Autochartist. The high quality of this chart pattern, as a result of the high reading on all quality indicators that contribute to its value. These are the first trend reading 8 bars, Uniformity 8 bars and Clarity reading at 9 bar.

The high quality of this chart pattern underlines the strength of the current down trend. Price has recently turned from the area near the level of the strong support of 80,00.This level has not been tested since 1995; the strength of this level of support, in addition to the bullish divergences on the trending indicators suggest that the couple could continue the upward correction in the coming sessions.

Tim USD/JPY chart shows a complete Double bottom reversal chart patterns; this pattern reverses the previous downward trend with a breakout is measured by at 6 bar of Autochartist.Price has already reached the target area is located between 81.6175 and 81.8175.

Be careful to buy upside breakout inside the daily down trend channel; it is advisable to use stricter Stop-losses, placed at a distance not greater than 2 EPR (expected price range) from the record. Expected price range in each hour, USD/JPY chart represents 21 pips as you can see below:

Comment by installations of Trade Forex: EURJPY and GBPUSD update, October 19, 2010

EURJPY:

The EURJPY is losing momentum, we can see moving averages day 8 and 21 are rolling over and look for traversing lowest soon. there would see any gatherings intraday in this pair as potential shorting opportunities on the back of declining quality of price action Setup.

The area 113.00 has proven to be solid support recently, we assume that this level could acts as resistance we should see a higher rotation.

1287529130-clip-12kb

GBPUSD:

Installing bar GBPUSD pin discussed in last Friday's commentary came downwards in what was a huge move that was very profitable for merchants willing to price action. now we're trying to sell the strength of this pair and see the resistance in zone 1.5830-1.5870. we should get a nice bearish signal intraday there would appear to get summary.

1287529530-clip-11kb

For deeper analysis of the major currency pairs and analysis of forex price action, check out my forex trading course.

Comment:

The dollar gained considerable force today as risk aversion harvest because of concerns renewed on banks of the United States and a surprise tightening of credit from China.

Prices weakened today as feard in u.s. mortgage market grew, crude oil futures fell 4.5 percent and gold fell nearly 3 percent.

Japanese Yen also gained considerable ground against other Major except the dollar, that was definitely the strongest currency today.

Forex Trade Setups Commentary: Weekend Forex Update, 23rd October 2010

Friday's price action has proved to be relatively quiet in the FX market, there are still some very interesting support and resistance levels that we would take note this next week trading.

The graphs below show the important horizontal levels that can influence the price action on EURUSD, GBPUSD, Daily and GBPJPY trading this next week.

EURUSD
: in intermediate trend, but currently looks congested, resistance to zone 1.4000 seems to be holding if wheel less earlier this week, probably that will fall in support to 1.3700.
GBPUSD:This chart was weak late, currently support 1.5650, we could see a rotation up to resistance in zone 1.5920-50 to allow a sales opportunity.If this error 1.5650 we could go lower in earlier this week.
Daily:Pair of trend, but currently showing internal bar, looks more congested, resistance comes near 1.0000, support sits near 0. long-term 9660. Prejudices postive neutral.
GBPJPY:If 127.50 holds earlier this week, we could see a boost, but there is strong resistance to 129.10 which should contain the price and can provide a point of sale to merge the downward trend.

Check out this video on a drawing by support and resistance levels for more information.

For deeper analysis of the major currency pairs and analysis of forex price action, check out my forex trading course.

Comment:

Movement yesterday in the Forex market was relatively quiet, the dollar was mixed against other Major, closing modestly higher against the British pound, Swiss franc, Canadian dollar, losing ground modest to the euro, Australian dollar, New Zealand dollar and Japanese yen.

The Dow has end lower, however, closing around 14.01 points, or 0.13%, S & P 500 added 2.82, or 0.24% and the Nasdaq added 19.72 points or 0.80%.

niedziela, 14 listopada 2010

Forex Trade Setups Commentary: EURUSD Update, 21st Ocotober 2010

The EURUSD pushed higher in the early stages of the trading session today, but couldn't sustain itself above 1.4000. Price quickly dismissed lower back into this area of resistance and closed the day around 1.3920.

We can see in the chart below today's downward refusal candle formed a break false high near resistance recently about 1.4000, lower price continue to remain below this level. support next approaching low starting this week about 1.3700.

1287702083-clip-10kb

For deeper analysis of the major currency pairs and analysis of forex price action, check out my forex trading course.

Comment:

The dollar strengthened today, the euro rose to $ 1.4050 against the dollar soon in session, but during the day it was up to $ 1 3820.

The Japanese Yen closed today stronger against other Majors with the exception of a slight loss in the surging dollar neutral.

The Dow has added 38.60 points or 0.35%, S & P 500 add points 2.09, or 0.18% and the Nasdaq acquired 2,28 points or 0.09%.

USD/CAD Daily Outlook

Daily pivots: (S1), 1.0065. (P) 1.0124. (R1) 1.0158. For more.

USD/CAD still reside in short intervals above 1.0061 and intraday bias remains neutral. 1.0377 resistance intact is expected to still another downturn in the USD/CAD.We would, however, continue to expect strong support from around parity to contain the downside and rebound. Break of 1.0377 will confirm that falls from 1.0671 is over and get stronger rally against 1.0675 resistance.

In the bigger picture, consolidations from 1.0851 is not clear with another descending leg is in progress.Now, we still expect strong support from parity to contain the downside and finally rally resumption. Above 1.0675/0671 resistance zone will draw 38,2% retracement of 1.3063 to 0.9929 at 1.1126 least. sustainable trade in parity, however, will enter 0.9929 is not yet the bottom and becomes the focus back to the low.

USD/CAD 4 Hours ChartUSD/CAD Daily Chart

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USD Nov. 9 – Finding Low Support

November 9, 2010 posted by Yohay
Filed under Forex News | 1 comment  

USD fall to reach a to the lower part of the QE2 range the previous continues,. To preserve the current support? Or should you expect many waterfalls? technical and fundamental social developments located here is a quick update.

euro dollar November 9

Supported by the decline in the euro / US dollar

If technical

Asian session: If under 1... 39, and delete support at 1. 3830 range 1... 3950 further level both directions between 1.3830.Current on discovery: under 1. 3830, 1.37 and 1... 3637. Above 1... 3950, 1... 4030, 1. 4030, 1. 4160, 1. 4217, 1... 4280, 1. 4450, 1. 4580. 1.37 Fairly low point 1. 4030 Quite high points.

USD Foundation

All the time is GMT. Emphasized the most important events.

7: 00 Pm Germany final consumer price index. Expert 0.1%. Actually + 0.1%. 7: 45 Pm France trade balance. Experts - 4 billion.15:00 United States IBD/TIPP Economic optimism. Expert 47. 8 points.15:00 United States wholesale inventories. Expert :+0.6% %.

If attitude

Major than the QE2 stronger effect commodity currencies. Ireland debt problem issue again in becoming. In yesterday's article Ireland bad that about Ireland times still echoes.Tensions upcoming weekend's g-20 Summit towards also has little chance of any agreed agenda. Currensee community: 51% long, 49% are short. These are account of actual this pair in the moment of trades positions in 1139,. Looking to escape $ community QE2 and bearish trend?

Are you want to ensure is doing with other trade trader real account? sure Currensee. Free of charge.

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Tags: USD technical analysis the final consumer price index, IBD/TIPP Economic optimism, trade, wholesale inventories

Forex Trade Setups Commentary: Silver price action, 30th October 2010

Gold Silver performed Outside this week as both the rose of precious metals, on the back of continued signs of weakness of the dollar.

We can see in the workplace-daily chart below which the silver metal formed a small bar pin indicated the bullish refusal to support dynamic of exponential moving average on day 21 on October 22nd. Price more consolidated for several days, forming a second bullish bar pin "confirmation" and within a bar in the process.

Friday price higher and broken exploded Thursday in Setup.log bar we can see in the chart that resistance enters the head closer around $ 24.90 per ounce, it will be interesting to see what price action transpires around this level next week.

1288486310-clip-11kb

For deeper analysis of the major currency pairs and analysis of forex price action, check out my forex trading course.

Comment:

The dollar eased on Friday after economic data showed that the u.s. economy grew in the third quarter, but not strongly just change the expectation of monetary easing from the Fed next week.

The index of the dollar edged lower, while the Japanese Yen however near its peak records in 1995 of 79 74 yen for one dollar.

The combination of American mid-term elections next week and the announcement of the Fed will probably have a profound effect on the currency markets and could set in place an inflection point up or down.

The Dow rose 4.54 points, or $ 0.04%, S & P 500 lost only 0.52 a point, or 0.04 percent and the Nasdaq acquired only point 0.04 or 0.00%.

EUR/JPY Daily Outlook

Daily pivots: (S1) 111 77. (P) 112 43. (R1) 113 14. More

Despite the steep decline of EUR/JPY holds above 111.51 and restores. Intraday bias is enabled neutral at the moment.But the risk remains on the downside over so long 115.40 resistance possession. Rebound from 105.42 might finish on 115.65 already and break of 111.51 support will confirm this bearish cases and direct a test at 105.42 low next.

In the bigger picture, a medium term bottom formation at 105.42.The lack of persistent strength in increase from there suggests that the EUR/JPY is only in the consolidation.In addition, EUR/JPY still trade far below 55 weeks EMA who argue that in the medium term, fell from 169.96 ongoing. Break of 105.42 will draw 100 psychological level next To the upside and above 115.65, but will bring another rise to 38.2% retracement of 139.21 to 105.42 at 118.32 instead.

EUR/JPY 4 Hours ChartEUR/JPY Daily Chart

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