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EURJPY Trading Analysis

Posted on Nov 17th, 2019

by colibritrader

EURJPY Trading Analysis

Dear traders,

The trading analysis that I posted this week on XAUUSD is still performing as expected.

I managed to open a small long position and even though the weekend was ahead, it looks like XAUUSD is going to go up further.

I will be closely monitoring the open and if I see a disturbing sign of reversal I might close that position.

So far, I am looking at how price will behave around 1483. If there is no disturbing sign there, I might keep until price reaches 1550 (assuming there is no price action reversal sign).

EURJPY Trading Analysis

Today, I am looking at EURJPY. It looks like there might be more buyers joining this wagon, too.

There is a minor support level that the price has bounced off forming a bullish engulfing pattern.

I will be looking for the price to potentially go down to 120.00 and if the 4H chart confirms the bullishness I might go long.

A potential first target could be the level of 121.40, where the closest resistance level is formed.

Happy Sunday,

Colibri Trader

p.s.

Have you checked my recent article on Day Trading?

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