Menu
Brokers
MT4 Forex Brokers
MT5 Forex brokers
PayPal Brokers
Skrill Brokers
Oil Trading Brokers
Gold Trading Brokers
Web Browser Platform
Brokers with CFD Trading
ECN Brokers
Bitcoin FX Brokers
PAMM Forex Brokers
With Cent Accounts
With High Leverage
Cryptocurrency Brokers
Forums
All threads
New threads
New posts
Trending
Search forums
What's new
New threads
New posts
Latest activity
Log in
Register
Search
Search titles only
By:
Search titles only
By:
Menu
Install the app
Install
Reply to thread
Forums
Forex Discussions
Technical Analysis
Daily Technical Outlook
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Message
[QUOTE="katetrades, post: 40721, member: 21862"] EUR/JPY just formed a complex head and shoulders pattern or a triple-top on the 4-hour time frame. The pair is currently testing the neckline while stochastic is in the oversold region, which means that it could consolidate for a bit before breaking down before the end of the week. Euro zone just released weaker than expected GDP reports earlier this week, pushing the region deeper into a technical recession. Germany posted a contraction of 0.6% for the last quarter of 2012 while France showed a 0.3% decline in economic activity. This fueled expectations of a rate cut or further easing from the ECB later on, causing a sharp euro selloff right after the release. [IMG]http://www.earnforex.com/forum/attachment.php?attachmentid=2781&stc=1&d=1360913910[/IMG] The selloff could continue until the end of the week even as traders position themselves for the G20 Summit. The yen could continue rallying heading off into the weekend as G20 leaders could criticize Japan for resorting to loose monetary policy to weaken their currency. Traders who have short yen positions could take profits on their trades and possibly result in an overall yen rally. A short trade below the neckline (124.00) with a 100-pip stop will offer a 2:1 reward to risk ratio if you’re aiming for the next support area around 122.00 or a 4:1 reward to risk ratio if you’re aiming for the 120.00 handle. [I]By Kate Curtis from Trader's Way[/I] [/QUOTE]
Insert quotes…
Verification
Post reply
Top
Bottom
This site uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
By continuing to use this site, you are consenting to our use of cookies.
Accept
Learn more…