Nelayan FxM 2013 SNelayan FxM 2013 S
By FX Empire Analyst - Christopher Lewis:
The EUR/JPY pair fell over the course of the week, bouncing off of the 130 level in the end. We expect 130 to be supportive, so a supportive candle were to form in this general vicinity, we would be more than happy to start buying. However, the range is so tight at the moment that we feel this is more or less a short-term market. Of course, we see plenty of upside bias and therefore aren’t selling regardless. Below here, expect quite a bit of support at 128 and 125, with 125 being almost impenetrable.
As for the Monday 29th daily forecast:
The EUR/JPY pair fell over the course of the week, bouncing off of the 130 level in the end. We expect 130 to be supportive, so a supportive candle were to form in this general vicinity, we would be more than happy to start buying. However, the range is so tight at the moment that we feel this is more or less a short-term market. Of course, we see plenty of upside bias and therefore aren’t selling regardless. Below here, expect quite a bit of support at 128 and 125, with 125 being almost impenetrable.
As for the Monday 29th daily forecast:
The EUR/JPY pair had a very bearish day on Friday, slamming into the 130 handle. We lost 200 pips during the session, what we found interesting is the fact that the 130 level stop this fall dead in its tracks. That doesn’t happen very often, and will normally when it does it shows just how strong a supportive level is. With that being the case, this market looks like it’s ready to find a bounce from this level, and perhaps go quite a bit higher. We’re looking for supportive candles in this general vicinity, and will not hesitate to buy them as they appear.
This candle does look rather bearish, but the fact that the area could stop it is cleanly as it did really has us wondering whether or not this wasn’t simple profit taking at the end of the week that was exacerbating the downdraft. Because of this, we feel that this market will get picked up somewhere in the general vicinity, and because of that we are more than willing to start buying the Euro, and start selling the Yen. Going forward, we fully expect this market to hit the 133 level again, not to mention the 135 level and beyond.
As far as selling is concerned, it’s almost an impossibility at this point in time. This is simply because the 130 level has several hammers just underneath it, which of course is almost always a sign of significant support. Below there, one 28 level looks to be supportive as well, as it is where the bottom of those hammers are sitting. With that in mind, we are buying this pair and if you are a bit aggressive, and you could even start buying right now.
However, the more conservative trader will want to see some type of supportive candle formed before they go ahead and start committing their trading capital. Either way is fine, as we think the market has certainly settled on the direction it once the go over the longer term. We fully expect see 135 hit over the next couple of months, and are plain this pair as such.
Nelayan FxM 2013 S
Nelayan FxM 2013 S
Nelayan FxM 2013 S
Nelayan FxM 2013 S
Nelayan FxM 2013 S
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nelayanforex@gmail.com
By FX Empire Analyst - Christopher Lewis:
The EUR/JPY pair rose during the previous week, breaking the top of the hammer from the week before. This suggests to us the market is about to go higher, and probably aim for 133 in the short term. We ultimately believe that this is a nice buy signal, and are perfectly comfortable buying it right here as far as selling is concerned, we will not do so because of the Bank of Japan, and look at any pullback as a potential buying opportunity as this market seems to have a long way to go still.
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Here are six simple tips to help you manage technical analysis efficiently:
Always make sure that the data you are using is valid for what you are using it for. Forex charts are there to help you get a trading edge. Use the charts wisely and don’t fall into the trap of trying to day trade. Short term trends are random and contain noise and it is extremely difficult to make a profit as a day trader.
Look for the support and resistance levels. Use weekly and daily charts to check where the levels are and that they coincide on both charts. A level that has been tested at least three times in a couple of different time frames is probably valid.
If you want to spot and follow trends use time frames where the trend is obvious. Use the weekly charts to see the major trends. Trends tend to follow economic cycles which can have a duration of many years. These trends can be observed on weekly charts. Once you have spotted the trend it is then easy to spot where your entry and exit points should be.
Most major trends in forex trading tend to breakout from new market highs not from market lows. For some traders it goes against the grain to buy on a new high as they feel they have missed out on some heavy profit. However, breakout trends quickly move higher so wait for them and then get in there.
Use Relative Strength Index and stochastic as momentum indicators to predict when a currency will have price momentum and see that the support and resistance levels will not hold. Trading with momentum will get you better more profitable trades. If you trade without momentum you will lose your capital for sure.
Never ever trade because you feel you should be doing something. Keep it simple. If you don’t have clear forex signals don’t do anything. Have patience and wait for the right opportunities. Discipline is paramount to good decision making. When you do trade make sure your stop loss and limit loss are placed correctly. Don’t be greedy.
Following these six simple steps will give you a trading edge and enable you to make some reasonable profits.
The above simple yet important article can be originally found HERE.
The above simple yet important article can be originally found HERE.
By FX Empire Analyst - Christopher Lewis:
The EUR/JPY pair fell during the balance of the week, but as you can see the market bounced enough to form a hammer. It seems like this market is simply attracted to the 130 handle, so it doesn’t surprise us to see that the market is closed just below it. That being the case, we think that it’s only a matter of time before this market breaks out to the upside, and a move above the highs from this past week would be a valid buy signal after all. Because of this, we fully expect see this market grind higher, and feel that it’s only a matter of time before we reach for the 135 level.
CLICK HERE FOR DETAILS
CLICK HERE FOR DETAILS
By FX Empire Analyst - Christopher Lewis:
The EUR/JPY pair went back and forth over the course of the last week, eventually closing just below the 130 handle. This candle is relatively neutral though, and as a result it suggests that the support that we have seen over the last couple of weeks should continue to keep this market going higher. Granted, the Euro itself is looking relatively weak, but the Yen continues get absolutely pummeled by almost everybody in the Forex markets now. That being the case, we think that this market will eventually grind its way up to the 133.50 level, and possibly quite higher.
DETAILS AND VIDEO, CLICK HERE
DETAILS AND VIDEO, CLICK HERE
