Forex Intraday: EUR/JPY with "buy" opportunities after a support test

05.04.2019 / 12:08

Rating:

EUR/JPY

Time frame: H4

Technical analysis: A clearly visible upward trend is seen on the chart. After the pair made a 23.6 Fibonacci test, it headed north again and showed that the channel support is still active. Currently, the price is around the previous registered peak from where the price needs to make a new correction to channel support and 50 EMA. After the correction is made and we see "price action" formation, we can position ourselves with "buy" orders.

Indicators: The price is above 50 and 200 EMA, and for the time being they indicate strong price support.

DeM - In overbought values, which supports the correction scenario to support.

Entry into Deal: Only after a Trend Channel Support Test.

SL: 124.90

Alternative scenario: If the price can break through channel support and 50 EMA, it will continue to decline again to the previous level at about 125.00

Trader Milko Zashev

Read more:

RECCOMEND WAS THIS POST USEFUL FOR YOU?
If you think, we can improve that section,
please comment. Your oppinion is imortant for us.

WARNING: Any news, opinions, research, data or other information contained within this website is provided as general market commentary and does not constitute investment or trading advice. Varchev Finance Ltd. expressly disclaims any liability for any lost principal or profits which may arise directly or indirectly from the use of or reliance on such information. Varchev Finance Ltd. may provide information, quotes, references and links to or from other sites and blogs and other sources of economic and market information as an educational service to its clients and prospects and does not endorse the opinions or recommendations of the sites, blogs or other sources of information.

Varchev Finance

Varchev Finance Ltd is registered in the FCA (FINANCIAL CONDUCT AUTHORITY) with a passport in the United Kingdom: FCA, United Kingdom - registration number: 494 045, which allows provision of financial services in the United Kingdom.

Varchev Finance Ltd strictly comply with the statutes of the European directive MiFID (Markets in Financial Instruments). targeting increased efficiency, transparency and uniformity of financial instruments.
Varchev Finance Ltd is authorized and regulated by the Financial Supervision Commission - Sofia, Bulgaria: License number RG-03-02-05 / 15.03.2006

The information on this site is not intended for distribution or use by any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

Disclaimer:

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63,41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

Forex Intraday: EUR/JPY with "buy" opportunities after a support test

London

Universal numbers