Earlier today I commented that taking quick profits is a wise strategy these days. Time and again we have been seeing the market make a logical move but then quickly reverse. However when I look at EURGBP chart (see H12 chart below) the 20EMA has held price really well. A retracement also seems to have been completed today (Fri 18 July).…Continue
Some of the Yen crosses are showing bullish signs. I like CADJPY the most for a few reasons:
1) Price has moved above 200sma.
2) Recent high at 94.700 has been broken.
3) Price has tested that level over the last few days and it has held as support.
4) Bullish pin bars have formed at that level during the last two days.
See daily chart below.…Continue
I have never traded DJ30 but the daily chart below is really clean and crisp. Price action is so measured with minimal shadows. It does point to a move higher.
Perhaps someone who trades this can give an opinion?…Continue
For the 12th time this year, UJ is back to 101.30-101.50 zone. Each of the previous visits have resulted in a bounce up, although they have been declining in magnitude recently. The 200MA is a level that most traders consider a buy/sell line and price is still above it.
I was not able to…Continue