{"id":113598,"date":"2017-09-26T16:01:45","date_gmt":"2017-09-26T20:01:45","guid":{"rendered":"http:\/\/countingpips.com\/?p=113598"},"modified":"2017-09-26T16:01:45","modified_gmt":"2017-09-26T20:01:45","slug":"daily-market-report-eurjpy-risind-wedge-september-26-2017","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/09\/daily-market-report-eurjpy-risind-wedge-september-26-2017\/","title":{"rendered":"Daily Market Report \u2013 EUR\/JPY Risind Wedge? September 26, 2017"},"content":{"rendered":"
September 26, 2017<\/div>
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By<\/b> Mexgroup.com<\/a><\/p>\n

EUR\/JPY Losing Altitude<\/strong><\/p>\n

The currency pair dropped further today and touched new lows. It has dropped as much as 131.74 level, but failed to stay there and now is trading above the 132.3o level. EUR\/JPY is into a corrective phase on the short term, but this could end up as the Nikkei stock index could jump much higher again. Price has squeezed in the last hours because the JP225 has managed to increase and to stay above the 20320 static support (resistance turned into support).<\/p>\n

The Nikkie consolidates the latest gains and should resume the upside movement. Technically, it is expected to climb towards new peaks after the breakout above the 20320 previous high. I’ve said in the last articles that it could come down the 20058 horizontal support, but could increase further if the USDX will increase as well.<\/p>\n

\"27eurjpy\"<\/a><\/p>\n

 <\/p>\n

Price has dropped significantly since Friday and ignored the support from the median line (ml) of the black ascending pitchfork. Now is pressuring the sliding parallel line (sl) of the major red ascending pitchfork. A valid breakdown will confirm a further drop towards the upper median line (UML) of the major red ascending pitchfork. I’ve drawn a Rising Wedge pattern on the daily chart, but this needs confirmation before we take action.<\/p>\n

However, it could find support at the downside line (up sloping red line) of the potential Rising Wedge pattern.<\/p>

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We’ll have a larger drop only after a valid breakdown from the Rising Wedge and below the upper median line (UML) of the major ascending pitchfork.<\/p>\n

EUR\/CHF Further Drop Seems Possible<\/strong><\/p>\n

\"27eurchf\"<\/a><\/p>\n

The EUR\/CHF dropped further and resumed the bearish momentum. It has touched fresh new lows, but the downside momentum was paused by the confluence area formed between the upper median line (uml) of the minor ascending pitchfork with the fourth warning line (WL4). Technically, it should drop further after the failure to stay above the dynamic obstacles.<\/p>\n

EUR\/GBP Focused On Correction<\/strong><\/p>\n

\"27eurgbp\"<\/a><\/p>\n

Price goes down after the minor retreat and is seems poised to approach and reach the next major downside target from the lower median line (LML) of the ascending pitchfork. I’ve drawn a black descending pitchfork hoping that I’ll catch a downside movement, the rate could be attracted by the confluence area formed between the LML with the median line (ml) of the descending pitchfork.<\/p>\n

By Olimpiu Tuns<\/strong><\/p>\n

Market Analyst<\/strong><\/p>\n

Risk Disclaimer:<\/span><\/em><\/p>\n

Trading, in general, is very risky and is not suited for everyone. There is always a chance of losing some or all of your initial investment\/deposit, so do not invest money you can’t afford to lose. You are strongly advised to carry out your independent research before making any trading decisions.\u00a0 All the analysis, market reports posted on this site are only educational and do not constitute an investment advice or recommendation to open or close positions on international financial markets. The author is not responsible for any loss of profit or damage which may arise from transactions made based on any information on this website.<\/span><\/em><\/p>\n

The post Daily Market Report – EUR\/JPY Risind Wedge? September 26, 2017<\/a> appeared first on mexgroupblog<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

By Mexgroup.com EUR\/JPY Losing Altitude The currency pair dropped further today and touched new lows. It has dropped as much as 131.74 level, but failed to stay there and now is trading above the 132.3o level. EUR\/JPY is into a corrective phase on the short term, but this could end up as the Nikkei stock […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-113598","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/113598","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=113598"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/113598\/revisions"}],"predecessor-version":[{"id":113599,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/113598\/revisions\/113599"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=113598"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=113598"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=113598"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}