EURJPY after another resistance retest forms a false-break and on the local timeframe the currency pair draws a pair of H&S. What should we expect from the price?
On the 1H timeframe the price forms the pattern "Head & Shoulders", which is a precondition for the possible decline.
The price is falling and testing the support of 148.864, which is a strong zone. Most likely, a pullback to the base area of H&S will follow. I assume that after a technical pullback to 149.75 - 150.00, the price may continue its fall to 148.86, then to 147.800, as there is a huge pool of liquidity below these levels, which may be of interest to the market maker.
Strong resistance: 150.00, 150.500, channel resistance
Strong support: 148.864
I expect a rebound from the support for a possible retest of the base of the reversal pattern, from which I will further expect a decline.
Regards R. Linda!
On the 1H timeframe the price forms the pattern "Head & Shoulders", which is a precondition for the possible decline.
The price is falling and testing the support of 148.864, which is a strong zone. Most likely, a pullback to the base area of H&S will follow. I assume that after a technical pullback to 149.75 - 150.00, the price may continue its fall to 148.86, then to 147.800, as there is a huge pool of liquidity below these levels, which may be of interest to the market maker.
Strong resistance: 150.00, 150.500, channel resistance
Strong support: 148.864
I expect a rebound from the support for a possible retest of the base of the reversal pattern, from which I will further expect a decline.
Regards R. Linda!
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🌹TRADING is a CASINO💔!?
NO‼️
Join me, I'll guide you to PROFITABLE TRADING💵!
(don't copy, click on the links!)
🟢Telegram Channel: telegram.me/RLindaTrade
🧿 Web: rlinda.com
🔴Contact: telegram.me/RLindaSignals
NO‼️
Join me, I'll guide you to PROFITABLE TRADING💵!
(don't copy, click on the links!)
🟢Telegram Channel: telegram.me/RLindaTrade
🧿 Web: rlinda.com
🔴Contact: telegram.me/RLindaSignals
Publications connexes
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.