Trading news

USDJPY – prognosis via Dow Theory for calendar week 44/2015

Weekly chart:

In the big picture, this currency pair is in a mature trend and in the trend itself, it is within a correction. Since a continuation of the trend is always more probable than a break in the trend, here, the chances are more likely to be found on the upper side.

Chart1

Daily chart:

In this trend size, the situation is not clear, since there is no valid trend yet. After the interruption of the trend at 120.42 JPY, no new trend has been able to form yet. If one wishes to trade in the direction of the big picture, then it is necessary to wait until a new long trend has formed in this trend size too.

Chart2

Hourly chart:

Contrary to the daily chart, we can see a nice, young long trend in the hourly chart. The price corrected almost into the last correction zone and is now once more on its way to the last point two at 121.26 JPY. With a stop loss below the green correction zone, one could speculate on a continuation of the trend.

Chart3

I hope you will remain favorably disposed towards me and always remember: the journey is the reward!

All the best

Markus Gabel

Head of Sales/Trading

AgenaTrader/TradeEscort

AgenaTrader Trading Software

IMPORTANT NOTE: Exchange transactions are associated with significant risks. Those who trade on the financial and commodity markets must familiarize themselves with these risks. Possible analyses, techniques and methods presented here are not an invitation to trade on the financial and commodity markets. They serve only for illustration, further education, and information purposes, and do not constitute investment advice or personal recommendations in any way. They are intended only to facilitate the customer's investment decision, and do not replace the advice of an investor or specific investment advice. The customer trades completely at his or her own risk. Please refer to the current version of the Terms and Conditions.

Friday, 30 Oct, 2015 / 10:13

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