Usdshort
EUR USD LONGEUR USD Long
Break of the 50 EMA, bounce of the pivot point, stron bullish engulfing.
MACD crossing over the 0 line
Trade with care - upcoming brexit likely to play a strong part in the volatility on this pair
TP1 at R2 and TP2 below R3 but still requiring price to make a higher high.
0.5% on each TP
1:2 risk reward
US 30 Correction again? Potential US30 correction
Price rejecting the downward trending high points making lower highs.
Brexit is causing some trouble with potential weakening of the Pound/EUR
MACD is showing divergence above the 0 level and could indicate price to go higher
Daily candle shows high test / doji.
Could wait to see if it turns around or keeps going..?
Thoughts?
USD/JPY LONG TERM SELL OFFWe have been waiting for an opportunity to get into the USDJPY for a short for a while. We had hoped the USD rate hike would have given the opportunity for a price around 125.00 but that didn't materialize. By all intensive purposes the USD bull run is over and the rate hikes of 2016 are priced in the slow down in China is causing investors to look for safe haven flows such as the JPY and with the Japanese economy apparently showing signs of recovery we can expect a return to a more sensible price against the USD I would suggest 10600 by year end and possibly 9600 by mid 2017. bankonadam.com learn to trade like a pro for free!