Daily Analysis | EUR/JPY | 8 of November

Posted 08 November, 2017

Different Forex crosses are breaking out of their consolidation phase, making breakouts off the important levels as we could see yesterday in the example of the GBP/NZD. Today we have a consolidation with a possible breakout on EUR/JPY. The POC zone 132.12-132.30 (D H3, EMA89, 38.2,are pivot) could reject the price towards 131.90. Break below 131.90 might target 131.75 and 131.30. The current ATR is 37 pips while the projected ATR is 86 pips so the price still has the room till next support levels.

W L3 - Weekly Camarilla Pivot (Weekly Interim Support)
W H3 - Weekly Camarilla Pivot (Weekly Interim Resistance)
W H4 - Weekly Camarilla Pivot (Strong Weekly Resistance)
D H4 - Daily Camarilla Pivot (Very Strong Daily Resistance)
D L3 – Daily Camarilla Pivot (Daily Support)
D L4 – Daily H4 Camarilla (Very Strong Daily Support)
POC - Point Of Confluence (The zone where we expect price to react aka entry zone)
Follow @TarantulaFX on twitter for latest market updates
Sign up for Live Trading Webinars with Nenad Kerkez T
Connect with Nenad Kerkez T on Facebook for latest market update
Read the Camarilla trading blog

                                                                                                                 By Nenad Kerkez | Admiral Markets

 

Follow @TarantulaFX  on twitter for latest market updates

Previous forecast

13 November, 2017 11:33

← Daily Analysis | GBP/JPY | 13 of November

The GBP/JPY rally and profit taking on short trades that happened on Friday has been negated by an early Monday drop and sell off. Brexit concerns are still weighting on the pound and investors tend to flee in the JPY safe haven. The GBP/JPY, popular "Dragon" dropped below the trend line and a subsequent retest of the POC zone might spur another sell off.

Daily Analysis | GBP/JPY | 13 of November

Next forecast

07 November, 2017 14:05

Daily Analysis | GBP/NZD | 7 of November →

The GBP/NZD is consolidating within the cup with handle pattern and we might see a breakout as there is also a trend line confluence. If the price spikes above the trend line/ EMA89 /D H4 / ATR pivot -1.9035 and/or we see a 4h close above the level the price might continue its move towards 1.9095 and 1.9145.

Daily Analysis | GBP/NZD  | 7 of November
Write a comment
 
Prove you’re not a bot + 14 = 29