Trading news

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

Weekly chart:

In the big picture, this currency pair is still in a mature trend stage and has dived deep into the correction. The end of the correction is located at 115.585 JPY. As long as the price does not fall short of this marker, the trend can still proceed onwards. But soon, the price should slowly start to turn around in order to actually keep this chance.

Chart1

Daily chart:

Unfortunately there is still no valid trend in this trend size, meaning that there is still no serious possibility of making a trade here. However, the short-term chances are rather on the lower side.

Chart2

Hourly chart:

On the other hand, in this trend size, we can see an uptrend that is still young. After the last high at 118.556 JPY, this uptrend corrected deep into its correction zone, namely precisely to the last point three. There, it seems that several buyers entered the market and induced a long trade. With a close stop beneath the green correction zone, one could enter a long trade here. However, one should take into account that the higher trend offers no support at all.

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, 08 Jan, 2016 / 10:29

Note: Company News is a promotional service of the Directory and the content isn't created by Finance Magnates.

Source :

Trading news

 

The USD Remains Under Pressure

By Dmitriy Gurkovskiy, Chief Analyst at RoboForex   EURUSD continues [...]

Posted on Monday, 24 Jun, 2019 / 11:50 under

Weekly Outlook: June 24 – June 28: G20 Summit Takes Center Stage, RBNZ Decision Also in Focus

This week, market participants are likely to be sitting on the edge of their [...]

Posted on Monday, 24 Jun, 2019 / 7:00 under

Oil added almost 5% against the backdrop of the possible conflict in Middle East

Brent crude has got over the important mark of $65 per barrel and added about [...]

Posted on Friday, 21 Jun, 2019 / 3:58 under