GBP/USD
Analysis:
The downward wave of the British pound from April 30 completes the correction of a wave of a larger scale. In its structure, the middle part (B) is nearing completion and the price has reached the lower border of a strong potential reversal zone.
Forecast:
In the next trading...
USD/JPY is trading in the green and maintains a bullish outlook, the extended sideways movement could give us a great chance to catch the next bullish momentum. The optimism and the Nikkei's rally could weaken the Japanese Yen, but the dollar needs a bullish spark from the USDX to be able to...
Traders of the USD/JPY pair ignored the general weakening of the US currency, which was observed at the start of the new trading week. Despite the fact that other pairs of the major group showed increased volatility yesterday, the yen still fluctuates within a narrow range flat when paired with...
USD/JPY
There was no decisive breakout of the pair up, which we expected yesterday, did not happen. The price remained at the signal level of 107.78. The day's low tested the support of the price channel, the closing of the day took place above the balance indicator line (daily). But the price...
Good afternoon traders! A trading idea for the USD / JPY pair.
A pin bar was formed in the trend last Friday, marking the last day of spring as bullish.
D1 chart:
The formation of the bar caused the quotes to roll back 50% this morning.
Open long positions to update seller stop...
USD/JPY
The yen traded in the range of more than 80 points on Friday, closing the day by 15 points with the release of US data on personal income and expenses for April. Revenues rose 10.5% from expectations of -7.0%, which will lead to increased consumption in the coming months. Stock indices...
GBP/USD
Analysis:
In the short term, the incomplete bearish wave of the British pound has been reporting since April 30. It traces the first parts (A-B). Since May 26, a reversal structure has been formed, preceding the beginning of the final part (C).
Forecast:
Today, the price rise is expected to...
USD/JPY
The US stock market (S&P 500) lost 0.21% on Thursday due to weak economic data: the volume of orders for durable goods fell by 17.2% in April, the second estimate of GDP for the first quarter was revised down from -4.8 % to -5.0% against an unchanged forecast (i.e. -4.8%). The...
The yen continues to trade in a narrow price range against the dollar, despite the rapid news flow. The international scandal surrounding Hong Kong, the mutual threats of Washington and Beijing, the decline in oil prices, additional incentives from the Japanese authorities - these, and many other...
Trading RecommendationEntry: 107.873Reason for Entry: horizontal swing high resistance and 78.6% fibonacci extensionTake Profit: 108.087Reason for Take Profit: Horizontal swing high resistanceStop Loss: 107.335Reason for Stop loss: Horizontal swing low support The material has been provided by...
