InvestMacro

Analytics by JustForex

The EUR/USD currency pair

• Prev Open: 1.12602
• Open: 1.12939
• % chg. over the last day: +0.25
• Day’s range: 1.12715 – 1.12969
• 52 wk range: 1.1214 – 1.2557

EUR/USD has an ambiguous technical picture. Right now the quotes are consolidating after a long fall. The demand for USD remains high. The investors are waiting for additional drivers. The US/China negotiations and Donald Trump`s edicts regarding the White House operations are in the spotlight. The local support and resistance levels are 1.12700 and 1.13000. You should open positions from these levels.

At 15:30 (GMT+2:00) the US will publish an array of economic reports. Keep an eye on the difference between the real and forecasted data.

The indicators do not provide precise signals, the price has crossed 50 MA.

The MACD is close to 0

The Stochastic Oscillator is in the neutral zone, the %K line has started to cross the %D line. There are no signals at the moment.

• Support levels: 1.12700, 1.12500, 1.12000
• Resistance levels: 1.13000, 1.13250, 1.13500

If the price fixes below 1.12700 expect the quotes to fall toward 1.12300-1.12000.

Alternatively, the quotes can recover toward 1.13250-1.13500.

The GBP/USD currency pair

• Prev Open: 1.28444
• Open: 1.27972
• % chg. over the last day: -0.37
• Day’s range: 1.27891 – 1.28226
• 52 wk range: 1.2438 – 1.4378

The pound remains under pressure due to the Brexit conundrum and weak economic reports. Yesterday, the parliament of the UK refused Theresa May’s proposal to move the Brexit date. Right now the quotes are consolidating at 1.27800-1.28200. You should open positions from these levels.

At 11:30 (GMT+2:00) the UK will publish the retail sales report.

The price fixed below 50 MA and 200 MA which points to the power of they buyers.

The MACD histogram is in the negative zone but above the signal line which gives a weak signal to sell GBP/USD.

The Stochastic Oscillator is close the the overbought zone, the %K line is crossing the %D line. There are no signals at the moment.

• Support levels: 1.27800, 1.27500, 1.27000
• Resistance levels: 1.28200, 1.28500, 1.28850

If the price fixes below 1.27800 expect the quotes to fall toward 1.27500-1.27300.

Alternatively, the quotes can recover toward 1.28600-1.28900.

The USD/CAD currency pair

• Prev Open: 1.32520
• Open: 1.32905
• % chg. over the last day: +0.30
• Day’s range: 1.32878 – 1.33128
• 52 wk range: 1.2248 – 1.3664

USD/CAD is consolidating close to the monthly maximums. The technical picture is ambigous. The local support and resistance levels are 1.32900 and 1.33250. You should open positions from these levels. Keep an eye on the US economic reports and the oil quotes dynamics.

The Economic News Feed for 15.02.2019 is calm.

The indicators point to the power of the buyers, the price fixed above 50 MA and 200 MA.

The MACD histogram is in the positive zone, but below the signal line which gives a weak signal to sell USD/CAD.

The Stochastic Oscillator is in the negative zone, the %K line is above the %D line which points to a bullish mood.

• Support levels: 1.32900, 1.32600, 1.32300
• Resistance levels: 1.33250, 1.33600

If the price fixes above 1.33250, expect the quotes to grow toward 1.33600-1.33800.

Alternatively, the quotes can fall toward 1.32600-1.32300.

The USD/JPY currency pair

• Prev Open: 110.972
• Open: 110.440
• % chg. over the last day: -0.41
• Day’s range: 110.257 – 110.550
• 52 wk range: 104.56 – 114.56

The USD/JPY started to descend. During the last tow days of trading, the quotes fell by 60 points. The safe haven currency updated the key extremums and is consolidating around 110.250-110.500. The quotes have a tendency to descend further. Keep an eye on the US news feed and open positions from the key levels.

The Economic News Feed for 15.02.2019 is calm.

The indicators do not provide precise signals, the price fixed between 50 MA and 200 MA.

The MACD histogram is in the negative zone but above the signal line, which gives a weak signal to sell USD/JPY.

The Stochastic Oscillator is in the neutral zone the %K line is crossing the %D line. There are no signals at the moment.

• Support levels: 110.250, 110.000, 109.600
• Resistance levels: 110.500, 110.650, 110.850

If the price fixes below 110.250, expect the quotes to fall toward 110.000-109.800.

Alternatively, the quotes can grow toward 110.700-110.900.

Analytics by JustForex

by JustForex

Yesterday, the US dollar weakened slightly against a basket of major currencies. At the moment, the dollar index (#DX) is consolidating near monthly highs. The US published weak economic reports. Thus, core retail sales declined by 1.8% in December, although experts expected the figure to remain unchanged. The producer price index also dropped by 0.1%, while the growth by 0.1% was forecasted. Retail sales also fell by 1.2% in December instead of the expected growth by 0.3%. Today, financial market participants closely monitor negotiations between Beijing and Washington, as well as expect Donald Trump to sign budget documents.

The British pound weakened again after members of the UK House of Commons did not support the idea by Theresa May to agree with Brussels on the rescheduling of Brexit. Parliament voted against the amendment, which offered to postpone the Brexit deadline for at least three months. All this greatly undermines the authority of the British Prime Minister, Theresa May. Today, we expect important economic statistics from the UK.

The “black gold” prices are consolidating after growth the day before. At the moment, futures for the WTI crude oil are testing the mark of $54.50 per barrel.

Market Indicators

Yesterday, there was a variety of trends in the US stock market: #SPY (-0.22%), #DIA (-0.25%), #QQQ (+0.12%).

The 10-year US government bonds yield fell again. Currently, the indicator is at the level of 2.64-2.65%.

– Retail sales in the UK at 11:30 (GMT+2:00);
– A number of important statistics from the US at 15:30 (GMT+2:00).

by JustForex

By Michael J. Kosares, USAGold.com

SPECIAL REPORT – February, 2019

“Who on earth, or in global finance, will buy this looming mountain of Treasuries?”

“Investment in gold now is insurance. It’s not for short-term gain, but for long-term protection. I view gold as the primary global currency. It is the only currency, along with silver, that does not require a counter-party signature. Gold, however, has always been far more valuable per ounce than silver. No one refuses gold as payment to discharge an obligation. Credit instruments and fiat currency depend on the credit worthiness of a counter-party. Gold, along with silver, is one of the only currencies that has an intrinsic value. It has always been that way. No one questions its value, and it has always been a valuable commodity, first coined in Asia Minor in 600 BC.” – Alan Greenspan, former Fed chairman

In a recent Financial Times editorial, Gillian Tett, who rose to prominence for her coverage of the 2008 financial crisis, raised the question of financing the U.S. debt. Headlined America faces a battle to find buyers for its bonds, her article begins by referencing a letter to Secretary Mnuchin from Beth Hammack, a Goldman Sachs banker who also chairs the Treasury Bond Advisory Committee. The letter, she says, contains a bombshell:

“According to TBAC calculations, America will need to sell an eye-popping $12 trillion of bonds in the coming decade, sharply more than it did in the past 10 years.  This will ‘post a unique challenge for the Treasury, Ms. Hammack warned, even ‘without the possibility of a recession’. In plain English, the Wall Street luminaries on the committee were asking who on earth – or in global finance – will buy this looming mountain of Treasuries.” [LINK]

When Jerome Powell and the president sat down for dinner at the White House in early February one wonders what was on the agenda. Treasury Secretary Steven Mnuchin, who also attended the dinner along with Fed vice-chair Richard Clarida, joked that having the Fed chairman over to dinner was “somewhat of a covert operation … so it didn’t create speculation.” The Fed press statement that followed went to great lengths to assure Wall Street and the rest of the world that nothing of consequence happened. Individuals at this level of government, though, do not have hastily-called, high-profile meetings at the White House simply to socialize and attend to their friendship.

The rhinoceros in the room could very well have been how the federal government will go about financing the $12 trillion in debt Goldman’s Beth Hammack earlier brought to the Treasury Secretary’s attention and what role the Federal Reserve intends to play in the process. China and Japan, America’s two largest financiers by far, have withdrawn from the market and there is no certainty as to when they might return. That leaves domestic U.S. private investors and financial institutions to fill the yawning gap and, failing that, the Federal Reserve with a new round of quantitative easing.

How the $12 trillion debt bombshell is handled will carry very large implications for the stock and bond markets, the value of the dollar and consequently the price of gold. Some would say we are a long way from another round of quantitative easing, but we will remind our readers it was only a few months ago that we were assured of at least two additional rate hikes in 2019 and stepped-up quantitative tightening. Circumstances and response, as we have seen over the past few weeks, can change in a heartbeat.  Ominously, San Francisco Federal Reserve president Mary Daly told reporters last week that the Fed is considering quantitative easing as a permanent option in the monetary toolkit and not, as Bloomberg put it, “just as a last-ditch measure to deploy in emergencies.” (Please see Balance Sheet Could Be in Regular Fed Toolkit/Bloomberg/2-8-2019)

We end with a timeless observation from the now-deceased Richard Russell (Dow Theory Letter):

“Paper money is now being created wholesale throughout the world. Stated simply, all paper currency is now valued against each other. But more important, ultimately ALL paper is ultimately valued against the only true, intrinsic money – gold. In world history, no irredeemable paper currency has ever survived. Since all the world’s currency is now irredeemable (in gold), this means that in the end, the only form of money that will survive is real intrinsic money – gold. It’s not a question of whether gold will survive, it’s a question of when the world’s current paper money will deteriorate and finally die. I can tell you that irredeemable paper will not survive – but obviously I can’t tell you when it will die. The timing is the only uncertainty.”

The chart below from the World Gold Council speaks to Russell’s point. It shows the performance of various currencies – past and present – against gold over the long term.  When the end comes, as the chart illustrates, it can come abruptly and without warning. For those who stick to the proposition that gold is not really an inflation hedge, or that it is not really a safe-haven against currency debasement, the chart offers instruction. For those who already own gold as a safe-haven, it provides justification. For those who do not own gold, it serves as an incentive.  As the old saying goes:  All is well until it isn’t.

Chart courtesy of the World Gold Council

–– Michael J. Kosares

A word on USAGOLD – USAGOLD ranks among the most reputable gold companies in the United States. Founded in the 1970s and still family-owned, it is one of the oldest and most respected names in the gold industry. USAGOLD has always attracted a certain type of investor – one looking for a high degree of reliability and market insight coupled with a professional client (rather than customer) approach to precious metals ownership. We are large enough to provide the advantages of scale, but not so large that we do not have time for you. (We invite your visit to the Better Business Bureau website to review our five-star, zero-complaint record. The report includes a large number of verified customer reviews.)

ORDER DESK
1-800-869-5115 Ext#100
[email protected]

Scott Stantis cartoon published with permission. All rights reserved.

Disclaimer – Opinions expressed on the USAGOLD.com website do not constitute an offer to buy or sell, or the solicitation of an offer to buy or sell any precious metals product, nor should they be viewed in any way as investment advice or advice to buy, sell or hold. USAGOLD, Inc. recommends the purchase of physical precious metals for asset preservation purposes, not speculation. Utilization of these opinions for speculative purposes is neither suggested nor advised. Commentary is strictly for educational purposes, and as such USAGOLD does not warrant or guarantee the accuracy, timeliness or completeness of the information found here.

About the Author:

Michael J. Kosares is the founder of USAGOLD and the author of The ABCs of Gold Investing – How to Protect and Build Your Wealth With Gold [Third Edition]. He is also editor and commentator for USAGOLD’s Live Daily Newsletter and editor of the News & Views monthly newsletter.

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Article By RoboForex.com

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is trading at 0.7118; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the downside border of the cloud at 0.7125 and then resume moving downwards to reach 0.6985. Another signal to confirm further descending movement is the price’s rebounding from the resistance level. However, the scenario that Implies further decline may be cancelled if the price breaks the upside border of the cloud and fixes above 0.7185. In this case, the pair may continue growing towards 0.7285.

NZDUSD, “New Zealand Dollar vs US Dollar”

NZDUSD is trading at 0.6829; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the upside border of the cloud at 0.6845 and then resume moving downwards to reach 0.6655. Another signal to confirm further descending movement is the price’s rebounding from the channel’s downside border. However, the scenario that Implies further decline may be cancelled if the price breaks the upside border of the cloud and fixes above 0.6865. In this case, the pair may continue growing towards 0.6955. After breaking the support level and fixing below 0.6695, the price may continue moving downwards to complete Head & Shoulders reversal pattern.

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is trading at 1.3237; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the downside border of the cloud at 1.3195 and then resume moving upwards to reach 1.3445. Another signal to confirm further ascending movement is the price’s rebounding from the support level. However, the scenario that implies further growth may be cancelled if the price breaks the downside border of the cloud and fixes below 1.3155. In this case, the pair may continue falling towards 1.3065. After breaking the resistance level and fixing above 1.3325, the price may continue moving upwards to complete upside-down Head & Shoulders reversal pattern.

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Analytics by JustForex

The EUR/USD currency pair

• Prev Open: 1.13249
• Open: 1.12602
• % chg. over the last day: -0.53
• Day’s range: 1.12490 – 1.12948
• 52 wk range: 1.1214 – 1.2557

The EUR started to descend. Yesterday the quotes fell by 70 points. The trading instrument updated the new monthly minimums. The pressure on EUR is cause by the weak economic reports, the loss of profitability of the Germany government bonds and a high demand for USD. Right now the currency pair is testing the 1.12500 support. 1.12850 acts as the resistance. Keep an eye on the US/China negotiations and open positions from the key levels.

The Economic News Feed for 14.02.2019:

• – GDP report (EU) – 12:00 (GMT+2:00);
• – Retail Sales report (US) – 15:30 (GMT+2:00);
• – Manufacturer’s Price Index (US) – 15:30 (GMT+2:00);

The indicators point to the power of the sellers, the price fixed below 50 MA and 200 MA.

The MACD histogram is in the negative zone and keeps falling, which points to the further descend of the EUR/USD quotes.

The Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, which also suggests that you should sell EUR/USD.

• Support levels: 1.12500, 1.12000
• Resistance levels: 1.12850, 1.13250, 1.13500

If the price fixes below 1.12500, expect the quotes to fall toward 1.12000.

Alternatively, the quotes can rise toward 1.13200-1.13400.

The GBP/USD currency pair

• Prev Open: 1.28910
• Open: 1.28444
• % chg. over the last day: -0.29
• Day’s range: 1.28132 – 1.28775
• 52 wk range: 1.2438 – 1.4378

The GBP/USD quotes keep showing a negative trend. Right now the trading instrument is testing the monthly minimums. The pressure on the pound is caused by the weak inflation report in the UK. The Brexit ambiguousness remains in the spotlight. The quotes have a tendency to descend further. The local support and resistance levels are 1.28200 and 1.28500. Open your positions from these marks.

The Economic News Feed for 14.02.2019 is calm.

The indicators point to the power of the buyers, the price fixed below 50 MA and 200 MA.

The MACD histogram is in the negative zone and below the signal line which gives a strong signal to sell GBP/USD.

The Stochastic Oscillator is in the neutral zone, the %K line is below the %D line which also points to a bearish mood.

• Support levels: 1.28200, 1.28000
• Resistance levels: 1.28500, 1.28850, 1.29250

If the price fixes below 1.28200, expect the quotes to fall toward 1.27800-1.27500.

Alternatively, the quotes can correct toward 1.28850-1.29000.

The USD/CAD currency pair

• Prev Open: 1.32360
• Open: 1.32520
• % chg. over the last day: +0.18
• Day’s range: 1.32288 – 1.32680
• 52 wk range: 1.2248 – 1.3664

USD/CAD is showing an ambiguous technical picture. Right now CAD is consolidating. The local support and resistance levels are 1.32300 and 1.32650. The trading instrument has prospects for future correction. CAD is supported by th epositive oil quotes dynamics. You should open positions from the key levels.

The Economic News Feed for 14.02.2019 is calm.

The indicators do not provide precise signals, the price crossed 50 MA.

The MACD histogram is close to 0.

The Stochastic Oscillator is in the neutral zone, the %K line is above the %D line which points to a bullish mood.

• Support levels: 1.32300, 1.32000, 1.31600
• Resistance levels: 1.32650, 1.32950, 1.33250

If the price fixes below 1.32300 expect the quotes to correct toward 1.320001.31700.

Alternatively, the quotes can grow toward 1.33000-1.33250.

The USD/JPY currency pair

• Prev Open: 110.458
• Open: 110.972
• % chg. over the last day: +0.41
• Day’s range: 110.865 – 111.126
• 52 wk range: 104.56 – 114.56

The safe haven currency keeps losing postions against the USD. During the last two days, the quotes grew by 60 points. The trading instrument found the resistance around 111.000. The closest support is 110.850. USD/JPY has prospect for further growth. Keep an eye on US economic reports. You should open positions from the key levels.

Today Japan published a weak GDP report.

The price fixed above 50 MA and 200 MA which points to the power of the buyers.

The MACD histogram is in the positive zone but below the signal line which gives a weak signal to buy USD/JPY.

The Stochastic Oscillator is in the neutral zone, the %K line is below the %D line which points to a bearish mood.

• Support levels: 110.850, 110.650, 110.300
• Resistance levels: 111.100, 111.500

If the price fixes above 111.100 expect the quotes to grow toward 111.500.

Alternatively, the quotes can fall toward 110.600-110.400.

Analytics by JustForex

by JustForex

Yesterday, the US dollar strengthened against a basket of currency majors. The dollar index (#DX) reached new monthly highs and closed in the positive zone (+0.45%). The US currency was supported by positive data on inflation in the US, as well as the optimism of financial market participants regarding the conclusion of a trade agreement between Washington and Beijing. The euro is still under pressure amid weak statistics. Thus, the volume of industrial production decreased by 0.9% in December instead of 0.4%.

The British pound weakened again relative to the US dollar after the publication of weak economic data from the UK. The consumer price index counted to 1.8% in January, while experts forecasted 1.9%. The Japanese yen is also declining against the US currency. Today, during the Asian trading session, a preliminary report on Japan’s GDP has been published, the figure has risen by 0.3%, while investors expected growth by 0.4%. Meanwhile, positive data were published in China. The country’s exports increased by 9.1% in January instead of the expected decline by -3.2%. Imports fell by 1.5% instead of 10%.

The “black gold” prices are strengthening. At the moment, futures for the WTI crude oil are testing the mark of $54.55 per barrel.

Market Indicators

Yesterday, the bullish sentiment was observed in the US stock market: #SPY (+0.32%), #DIA (+0.50%), #QQQ (+0.07%).

The 10-year US government bonds yield has increased. Currently, the figure is at the level of 2.69-2.70%.

– Eurozone GDP data at 12:00 (GMT+2:00);
– Report on the US retail sales at 15:30 (GMT+2:00);
– Producer price index in the US at 15:30 (GMT+2:00).

by JustForex

By TheTechnicalTraders.com

Our research team has been actively discussing the potential that the entire Marijuana stock sector could be setting up for another upside price rally.  Since the bottom set up in the US stock market near December 24, 2018, many of the cannabis-related stocks and ETFs have seen incredible upside recoveries (of 25% or more).  We believe the current setup in MJ, the Alternative Harvest ETF, is indicative of a new bullish momentum breakout.

The upside potential for this move is likely 12~25% or more over a short span of time.  Watching MJ move from $34 to $39 over the next few weeks could result in a 14%+ move where a breakout of $39 to the upside could see MJ retesting recent highs near $45 (a +32% upside move).

One aspect of this market sector to consider is the recent talk of nationalizing legal US cannabis in the US as well as the expected gains in state sales from legalizing the industry.  We’ve all read about how some of the largest drink and tobacco producers in the world are investing heavily into this blossoming sector in preparation to secure market share when the dust settles.  The entire Marijuana market sector could be a boom cycle, similar to Cryptos in 2016~2017, over the next 12~24+ months in the USA. Canada recently legalized its use which could help open the door for other territories to make it legal.

MJ has room to run to the upside and our initial projected targets for this upside move are just below $38.  If our longer-term analysis is correct and the US major stock market indexes continue to rally, we believe MJ could attempt to retest recent highs near $45 over the next 30~60+ days.

These types of opportunities don’t happen very often. Fledgling industries with strong interest drive investors to make speculative plays while driving prices higher and higher in most cases.  Play this one smart and look to take profits above +8% on no less than half of your initial trade, then let the rest of your position ride out the run.  If we are correct in our targets, $41~44 should be the next upside target before resistance is found.

Another interesting way to look for interest in any sector is to look at the Google Trends for the search term popularity for a particular asset class or similar related phrases and Bitcoin is the perfect example.

Marijuana Stocks Searches

As you can see in the graph below Google trends is shows a steady increase of interest for “Marijuana Stocks” stocks.

We should warn you that this is also a capitulation and contrarian indicator once it breaks the 80-100 level. When search demand spikes and everyone is interested in these stocks that is when they top. So, we do expect a run-up in price, but after that price could go up in smoke as this is somewhat of a bong bubble in the asset class.

If you want to join a group of professional traders, researchers, and friends, then visit TheTechnicalTraders.com to learn how we can help you find and execute better trades.  Some of our recent winners are GDXJ 10.5%, ROKU 8.1%, two other open positions with 15.4%, and 4% as we wait for new a couple high momentum trades to mature.

We believe 2019 and 2020 will be incredible years for skilled traders and we are executing at the highest level we can to assist our member’s profit from our trades with us. In fact, we are about to launch our newest trading solution for ourselves and members that is unparalleled anywhere else.

Chris Vermeulen
Technical Traders Ltd.

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

EURUSD has formed another ascending impulse; right now, it is consolidating at the top. Possibly, today the pair may expand the range towards 1.1345 and then fall to reach 1.1300. Later, the market may start a new growth with the target at 1.1325.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD has completed the ascending impulse. Today, the pair may be corrected towards 1.2868. After that, the instrument may form one more ascending structure with the target at 1.2937.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is trading downwards with the target at 1.0038. Later, the market may resume growing to reach 1.0100.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is moving upwards. Possibly, today the pair may grow to reach 110.67. After that, the instrument may form a new descending structure with the first target at 110.10.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is moving upwards as well. Possibly, the pair may reach 0.7136 and then form a new descending structure towards 0.7042.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is still consolidating around 65.75 without any particular direction. If later the instrument breaks this range to the upside, the price may continue trading upwards to reach 66.37 and then start a new decline with the short-term target at 62.90; if to the downside – resume trading inside the downtrend towards 64.70.

XAUUSD, “Gold vs US Dollar”

Gold is still consolidating above 1307.85 and forming the Triangle pattern. If later the instrument breaks this range to the upside, the price may resume trading upwards to reach 1325.45; if to the downside – continue the correction towards 1290.35.

BRENT

Brent is trading upwards. Possibly, the pair may reach 63.73. Later, the market may be corrected towards 62.35 and then start a new growth with the key target at 63.95.

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Article By RoboForex.com

GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the H4 chart, after reaching the retracement of 38.2%, GBPUSD slowed down a bit. In case the downtrend continues, the targets will be the retracements of 50.0% and 61.8% at 1.2807 and 1.2710 respectively. However, if the price continues growing, the targets may be the high at 1.3216 and the long-term retracements of 50.0% at 1.3386.

In the H1 chart, the convergence made the pair reverse and start a new uptrend. Which is getting closer to the retracements of 23.6%, 38.2%, and 50.0% at 1.2923, 1.2978, and 1.3024 respectively.

EURJPY, “Euro vs. Japanese Yen”

As we can see in the H4 chart, after failing to reach the retracement of 23.6%, EURJPY started a new growth, which is heading towards the high at 125.94. If the price breaks this level, the instrument may continue growing to reach towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 126.62 and 127.04 respectively.

In the H1 chart, the uptrend has reached the retracement of 76.0% and may continue growing towards the high at 125.94.

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.