The pair seems to have broken a previous uptrend and judging by price behavior, the broken support zone seems to now be acting as a resistance. The market opened today below the pivot price which is at 0.9660. Technical indicators including the RSI and the 50 MA are also bearish in their signals.
Best trade recommendation would be short positions targeting 0.9615 and 0.9600. Stop loss can be placed just above the pivot price. Any occurrence of price moving above the pivot price would mean long positions can instead be considered with targets around 0.9675 and 0.9700.
Posted on: July 17, 2017
The pair opened today high above the pivot point which is at 112.8. In the early hours it pulled back towards the support of a rising trend line. Price has bounced back upwards at the point where the pivot price coincides with the support line. Technical indicators are positive on further bullish movement.
Posted on: July 4, 2017
The pair is building some good momentum which started from before last weekend and seems to be continuing. An open above pivot price which is at 0.9580 and positive indications from technical indicators including the RSI and the 50 hourly MA, gives a thumbs up to the likelihood of further upward movement.
Best trade recommendations for the pair would be long positions targeting 0.9615 and 0.9630 in advance. Stop losses for the long position should be placed just below the pivot line. In the event that price reverses and moves below the pivot point, short positions can be considered with targets around 0.9565 and also 0.9550.
Posted on: July 3, 2017
Following the sharp drop that the metal witnessed on Monday, its now looking to make a recovery with a series of visible higher lows seen from yesterdays session. Today the market opened above the days pivot price which is at 1246. Technical indicators including the RSI and the 50 hourly moving average indicates prospects for further rise in price.
Best trade recommendation would be to go long targeting 1257 and also 1259, provided conditions remain as stated. Stop loss can be placed just below the pivot price. However in the event that price moves below the pivot, then short trades can be considered with targets around 1241 and 1238.
Posted on: June 28, 2017
USDJPY seems poised for further bullish movement after bouncing off a support zone yesterday. Today market opened above the pivot price which is at 109.60. And target for intraday trading would be price moving to a higher level.
Posted on: June 13, 2017
traders must continuously learn about these trends to help them stay ahead of their business. –… https://t.co/aoKT6vCg1e
Trading Rules: The global markets are shaped everyday by trends and happenings around the world, hence, 1/2