EURJPY retreats from intraday highs at 135.50
October 24, 2013 6:15 amVideo
Latest News
- Technical Analysis – GBPUSD retreats further after BoE’s decision May 9, 2024
- Technical Analysis – UK 100 index swings to all-time high May 9, 2024
- GBP/USD: trading plan for the US session on May 9th (analysis of morning deals). The pound continues to be held within the May 9, 2024
- EUR/USD: trading plan for the US session on May 9th (analysis of morning deals). The euro rebounded from 1.0726 May 9, 2024
- EUR/USD. May 9th. Bulls have exhausted their strength May 9, 2024
- GBP/USD. May 9th. Bulls fear Bailey’s “soft” rhetoric May 9, 2024
- Midweek Technical Look – EURUSD, Gold, US 500 May 9, 2024
- Technical Analysis – EURCHF flirts with uptrend line May 9, 2024
- Technical Analysis – EURGBP runs out of steam near 0.8600 May 9, 2024
- Forex forecast 05/09/2024: EUR/USD, GBP/USD, Oil and Bitcoin from Sebastian Seliga May 9, 2024
- USD/JPY: trading tips for beginners for European session on May 9 May 9, 2024
- Technical Analysis – USDJPY advances after bouncing off 50-day SMA May 9, 2024
- Market Comment – Pound slides ahead of Bank of England decision May 9, 2024
- Technical Analysis – NZDUSD bulls face strong resistance May 9, 2024
- GBP/USD: trading tips for beginners for European session on May 9 May 9, 2024
- EUR/USD: trading tips for beginners for European session on May 9 May 9, 2024
- Key events on May 9: fundamental analysis for beginners May 9, 2024
- Trading plan for GBP/USD on May 9. Simple tips for beginners May 9, 2024
- Trading plan for EUR/USD on May 9. Simple tips for beginners May 9, 2024
- Forecast for EUR/USD on May 9, 2024 May 9, 2024
Technical outlook and chart setups:
The currency pair is producing an engulfing bearish candle stick formation at current levels, after printing intraday highs at 135.50 yesterday. It is indicative of next move lower from here on. We would either like to go long after a retracement, around 132.20; or to initiate short positions upon a trend line break. Initial support begins from 131.00, followed by 128.00, and then 125.00; while resistance is at the 135.50 area (intermediary). Please note that till the time prices remain above the 131.00 levels, they are heading higher towards 136.00 and above. Only a break of trendline and subsequent 131.00 would give control back to bears.
Trading recommendations:
Remain flat for now.
Good luck!
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: