As expected (like you can expect something from the market), the Nikkei and the USDJPY pair are in a rather strong resistance zone.
The Nikkei is taking a brake below 17 500 with daily RSI and stochastics moving out of the overbought region. Ichimoku's tenkan line is playing as support line and ADX is pointing downwards. This could last hours, days or weeks, but now is a time of seesaw and not a good time to place a trade.
The USDJPY pair is showing few signs of tiredness. Daily ADX is above 50 and pointing up. However round numbers are often psychological thresholds, all the more when it's a level that hasn't been seen in a long time. In this case, we just hit 119 and the pair was rejected. The current daily candle starts to look like a doji. After the incredible rise over the week end of November 1st, we could (maybe) see the pair fill the gap, at least to find support at 113,700 (Fibonacci 38%).
Anyway, the resistance we had talked about in the previous post has played, and the bullish trend is still in place. The rest is nothing but speculation. You don't want to trade here obviously, but simply wait for the pair to show that the brake is over and it's time to continue climbing.
About EUR/USD
Twitter is getting excited about the Euro which has bottomed. How can you tell ? 1.25 is certainly a strong support zone, but the no higher high or higher low has been made. Ichimoku is very red and ADX is around 19 and down. If you are a bottom caller, then go ahead and trust your crystal ball to go long here.
The Nikkei is taking a brake below 17 500 with daily RSI and stochastics moving out of the overbought region. Ichimoku's tenkan line is playing as support line and ADX is pointing downwards. This could last hours, days or weeks, but now is a time of seesaw and not a good time to place a trade.
The USDJPY pair is showing few signs of tiredness. Daily ADX is above 50 and pointing up. However round numbers are often psychological thresholds, all the more when it's a level that hasn't been seen in a long time. In this case, we just hit 119 and the pair was rejected. The current daily candle starts to look like a doji. After the incredible rise over the week end of November 1st, we could (maybe) see the pair fill the gap, at least to find support at 113,700 (Fibonacci 38%).
Anyway, the resistance we had talked about in the previous post has played, and the bullish trend is still in place. The rest is nothing but speculation. You don't want to trade here obviously, but simply wait for the pair to show that the brake is over and it's time to continue climbing.
About EUR/USD
Twitter is getting excited about the Euro which has bottomed. How can you tell ? 1.25 is certainly a strong support zone, but the no higher high or higher low has been made. Ichimoku is very red and ADX is around 19 and down. If you are a bottom caller, then go ahead and trust your crystal ball to go long here.
Aucun commentaire:
Enregistrer un commentaire