Blog about Forex market – Page 2

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In our previous analysis, we were expecting a bullish movement towards minimum 1.9067, Price moves up but fails to touch its first resistance and reverse back from 1.8550. We have 2 different thoughts for next possible movement. I am sharing weekly and daily time frame technical analysis to give my overview.

Weekly EURUSD Technical Analysis

Price fail to move up in a weekly movement and trading near to its support zone around 1.16400. The volume is still in a favor of the bullish movement. If price moves up and breaks above 1.1855 in a weekly closing, this will be the confirmation for bullish entry and the target could be 1.2000 which is also the resistance level of the weekly and daily chart.

We will look for daily analysis for a close overview and alternative scenario.

Please have a look at weekly EURUSD chart, I have drawn an expected movement diagram with target levels.

 

Weekly EURUSD Technical Chart

Weekly EURUSD Technical Chart

Daily EURUSD Technical Analysis

EURUSD is trading near to its support zone and yesterday closing indicating little bit more bearish move for coming day. The movement above 1.1855 may confirm the bullish pattern and could take price towards 1.2000 level.

 

Alternately if the price moves lower and breaks below the support line then it will invalidate our bullish thoughts and could open the next bearish level 1.3000, however, the chances for the break of support is lower.

 

Please have a look at the EURUSD daily technical chart below, I have mentioned to possible movement diagram with target levels.

 

Daily EURUSD Technical Chart

Daily EURUSD Technical Chart

EURUSD SUPPORT & RESISTANCE LEVELS

Support 1:     1.15544

Support 2:     1.15080

Resistance 1 :   1.18495

Resistance 2 :    1.2000

Feel free to visit to the link to understand the term Money Management.

Note: Never risk more than 2% of your capital in a single trade and always trade with proper money management plan.

EURJPY is trading between the range of 124.00 and 130.50 from a couple of weeks. The pair of Doji candles in the weekly chart indicating confusion between bulls and bears.

Our thoughts are still the same as per our previous analysis; I am sharing weekly and daily technical analysis below to give my view about possible next movement.

Weekly EURJPY Technical Analysis Forecast

EURJPY trading is trading in a small range from many days and almost closes at the same price for a couple of weeks. This indicating a sideways market and it could be the signal of confusion between buyers and sellers. The pair is also forming a symmetric triangle in a big overview and price could bounce from the support towards resistance level mentioned in the chart below.

The support is at 124.00 and the bounce is expected from the support towards symmetric resistance level which is at 134.00 in a weekly chart.

Please have a look at weekly EURJPY technical chart below; I have mentioned possible next target levels.

 

Weekly Technical EURJPY Chart

 Weekly Technical EURJPY Chart

Daily EURJPY Technical Analysis Forecast

 

The EURJPY is trading in higher low and lower low direction since few days and price is facing a support level around 124.00 as per the daily and weekly chart. Current market price is 128.21 and it could move lower towards 124.00 to touch its extreme support.

The bounce is expecting from the support towards minimum 132.00 and 134.00 in case of extension.

We will look for bullish entry from the better price around 124.00.

 

Please have a look at the EURJPY daily technical chart below, I have mentioned the possible movement levels.

 

EURJPY Daily Technical Chart

 EURJPY Daily Technical Chart

 

EUR JPY SUPPORT & RESISTANCE LEVELS

Support 1:     124.00

Resistance 1:   132.00

Resistance 2 : 134.00

Note: Never risk more than 2% of your capital in a single trade and always trade with proper money management plan.