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My Trading Journal- Learn to reach out my first $1000 withdrawal
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[QUOTE="ijak8510, post: 96608, member: 35571"] Let us made some market review for a moment before opened a trade. W What happened in this week which is the majority of USD rivals stronger than the USD , which means that the long-term weakening of the USD in sight This is due to weaker US economic data than anticipated. PMI is below expectations, ADP which is above forecast, Forecast 195k, actual 205K The unemployment rate rose 8k the NFP today, market expectations about jobs created and opened : 189k , and if the data released under 180k can harm USD fundamentally. With the reluctance of the Fed to raise interest rates, the ECB QE plan in March 2016, and the BOJ is set negative interest rates, today's NFP data is crucial as a guide to where the next market direction next. [B]Technical analysis :[/B] , based on Tickmill weekly chart, the USDJPY this week , weakened as much as 500.0 pips. Head and Shoudler has been formed, and if the NFP data this week could make close USDJPY weekly chart with a bearish engulfing pattern, then the USDJPY weakness for the medium-long term was inevitable with the first target at 113.00 area [IMG]https://charts.mql5.com/10/112/usdjpy-w1-tickmill-ltd.png[/IMG] if this picture does not load, use this link : [URL]https://charts.mql5.com/10/112/usdjpy-w1-tickmill-ltd.png[/URL] Recommendation : USDJPY Bearish, risk in the area of 121.75 -122.00 Target: 113.00, 110.00, and 109.00 [/QUOTE]
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