It is time for me to share with you my personal analysis on the EURUSD and USDJPY for the coming week 25th to 29th March 2019
For the weekly chart, it is still in a strong down trend
On the 4 hourly chart, you can see that the price has broke the 400 EMA but in the end get pull back to below the 100 EMA to continue the down trend
On the 15 minutes chart, you can see that the 100EMA has crossed over the 200 and 400 EMA which is a sign of trend change
Actually we have taken a 63 pips and a 54 pips profits from the EURUSD last Friday when the sudden down move occur and I have taken a screenshot of the profits below. For those of you who are in my trade copier, you will get the trade as well.
Below is the screenshot of the 2 trades
After I have taken out the trade, I have entered another SELL trade on the EURUSD which can be seen on the picture below
However the price is now moving very close to our 25 pips stop loss. You can see that our win is much bigger than our loss which is why a high risk reward ratio is very important for trading
For the EURUSD, I will look to SELL as the lower time frame is now in the same trend as the higher time frame
For the weekly chart, you can see that the price is still moving within a symmetrical triangle
For the 15 minutes chart, you can see that the price has hit the 0.618 Fibonacci retracement and is now moving toward its 1.618 extension level. If you have read my blog post on the Fibonacci tutorial, you will know what I am talking about.
If you take a look at the picture above, you can see that I have 2 target profits above the 1.618 level as the price will most likely retrace once it hits that level. For those of you who are in my trade copier, these trades will be shown on your platform as well.
The 1st target profit is ard 67 pips and the second one is 92 pips. Actually I have shifted my stop loss to breakeven for this trade which means that the outcome is only a winning or breakeven trade.
Currently these 2 trades are at 40+ pips profits each which adds up to 80+ pips profits.
For the USDJPY, I will look to SELL until it hits the 1.618 extension level
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