Welcome back to setups and charts which will help you position for the upcoming week.
ejdaily
EURJPY: 200 DMA and the lower bollinger bands of the 100 DMA stand at 138. But the pair has arrested its lower lows trend started at 140.8 at the beginning of May.
EURUSD daily torpedoes into the 200 DMA and there was no recovery at all into the friday close. It is foolhardy to short EURUSD at 200 DMA but the lack of recovery suggest it could test 1.3521
EURJPY: On the 480min chart which is what we have been trading for some days now, we see the pair comfortably holding the 25 MA at 139.12. But the pair has not proceeded down to the 200 DMA at 137.8 yet. As long as the pair stands below 139.2, there is a chance of a test of 138.
EURJPY: Monthly Netlines are at 137.5 which will provide strong downside protection in case the pair decides to clean out the stops under 138.
ejdaily
EURJPY: 200 DMA and the lower bollinger bands of the 100 DMA stand at 138. But the pair has arrested its lower lows trend started at 140.8 at the beginning of May.
EURUSD daily torpedoes into the 200 DMA and there was no recovery at all into the friday close. It is foolhardy to short EURUSD at 200 DMA but the lack of recovery suggest it could test 1.3521
EURJPY: On the 480min chart which is what we have been trading for some days now, we see the pair comfortably holding the 25 MA at 139.12. But the pair has not proceeded down to the 200 DMA at 137.8 yet. As long as the pair stands below 139.2, there is a chance of a test of 138.
EURJPY: Monthly Netlines are at 137.5 which will provide strong downside protection in case the pair decides to clean out the stops under 138.
Recommended Content
Editors’ Picks
EUR/USD clings to gains above 1.0750 after US data
EUR/USD manages to hold in positive territory above 1.0750 despite retreating from the fresh multi-week high it set above 1.0800 earlier in the day. The US Dollar struggles to find demand following the weaker-than-expected NFP data.
GBP/USD declines below 1.2550 following NFP-inspired upsurge
GBP/USD struggles to preserve its bullish momentum and trades below 1.2550 in the American session. Earlier in the day, the disappointing April jobs report from the US triggered a USD selloff and allowed the pair to reach multi-week highs above 1.2600.
Gold struggles to hold above $2,300 despite falling US yields
Gold stays on the back foot below $2,300 in the American session on Friday. The benchmark 10-year US Treasury bond yield stays in negative territory below 4.6% after weak US data but the improving risk mood doesn't allow XAU/USD to gain traction.
Bitcoin Weekly Forecast: Should you buy BTC here? Premium
Bitcoin (BTC) price shows signs of a potential reversal but lacks confirmation, which has divided the investor community into two – those who are buying the dips and those who are expecting a further correction.
Week ahead – BoE and RBA decisions headline a calm week
Bank of England meets on Thursday, unlikely to signal rate cuts. Reserve Bank of Australia could maintain a higher-for-longer stance. Elsewhere, Bank of Japan releases summary of opinions.