Technically: After remaining it its 500 pip range for most of the year, is it time for the pair to move up and break above 114.00? Additional to the range, we have also seen a downwards channel from late 2016 to September 2017. The price broke above this channel in September and has pulled back … Continued
David has successfully traded the FX markets since 2010 from a semi-professional standpoint, principally using technical analysis. His strategy uses price action, support and resistance levels, Fibonacci retracements, Dow theory and Trendlines to decide upon directional themes and entry/ exit points.
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Support Convergence at 1.1730 The 200 day MA, the 13 day MA, the high from 15th July and the 38.2% retracement from the move down 15th May are converging around 1.1730. The Euro is likely to continue its good run after the post-German election jitters, after a string of positive data in September and hawkish announcements … Continued
USDJPY has reached a crucial level of resistance, at 112.50 to 113.00 where 2 trendlines converge on the daily chart (down trend from December 2016 and the broken up trend from September 2016). This is also clustered close to the 78.6% retracement from the previous swing lower. This short opportunity, however, is counteracted by a … Continued