It is time for me to share with you my personal analysis on the EURUSD and USDJPY for this coming week
I hope that my analysis will help you to make profits in your trading this week.
On the daily chart, you can see that the trend is still in a strong down trend
On the hourly chart, you can see that the price is being held within a trend channel. In fact, the price has been held by the support at 1.12129 for sometimes
On the 15 minutes chart below, you can see that the price has broke the symmetrical triangle.
For the EURUSD, I will look to go SHORT if the price manages to break below the 1.12129 level successfully.
In fact, if you are a user of my trade copier, you can see that we have 2 SHORT trade on the EURUSD already and we are now in 5 pips profit only.
Actually, it is only one trade but I split the lot size into 2 separate trades so that I can get the trade out in 2 different target profit.
On the daily chart, you can see that price is moving within a symmetrical triangle
On the hourly chart, you can see that the price is in a strong uptrend and has broke the resistance. Do note that past resistance will turn into new support.
For the USDJPY, I will look to go LONG as the price will mostly likely move towards the upper resistance of the symmetrical triangle on the weekly chart.
In fact, we have 2 LONG trades on the USDJPY which I have shifted the stop loss to breakeven. If you are a user of my trade copier, this means that the USDJPY trade will either be a winning or breakeven trades.
For those of you who are interested in my trade copier service, please click on the link below for more info