ads Banner
Link https://www.cryptoder.com/en
Ads Banner
ForexFunction Logo

"Forex trading involves a high level of risk"

GICM Banner
 Market Comments |  Technical Indicator Signals |  Cross Pair Rates |  Live Spread |  Live Charts |  Daily Pivot Points

Can EUR/JPY bears extend head and shoulder pattern? | November 26, 2018



Print PDF

Please be noted that  EURJPY 0.37%  has witnessed the sizeable price slumps and rallies upon below mentioned candlesticks patterns.



Technical chart and candlestick patterns formed – The minor trend has formed head and shoulder pattern with head at 133.131, left shoulder at 130.866 and right shoulder at 130.148 levels. If bears prolong downswings, then it is most likely to extend right shoulder.



Hammer patterns have occurred at 127.574 and 128.694 levels, on the flip side, the stern shooting star patterns have occurred at 129.690, 129.607 and 132.336 levels (on both daily and monthly terms). While the stiff resistance is observed at 129.135 levels.



Momentum study:Both leading ( RSI & stochastic curves) oscillators show downward convergence that indicate intensified bearish momentum and overbought pressures on both monthly and daily terms.



The current major trend is stuck in range, while bearish swings are backed by the momentum oscillators.



MACD signals downswings continuation in the major trend and mild rallies on daily terms.



The major trend has formed streaks of bearish patterns, such as, shooting star , hanging man & bearish engulfing evidence price drops below EMAs, ever since then, bears managed to retrace more than 38.2% Fibonacci levels. But for now, stuck in between 23.6% and 38.2% Fibonacci levels.



Overall, the trend continues to be weaker on the major terms and drifts upward for today.



Trade tips: On trading perspective, at spot reference: 128.452 levels, it is advisable to snap any abrupt rallies and bid tunnel put option spreads, use upper strikes at 128.6437 and lower strikes at 127.929 levels, the strategy is likely to fetch leveraged yields as long as the underlying spot FX keeps dipping further until expiration.



Alternatively, we advocate shorts in futures contracts of mid-month tenors with a view to arresting potential dips.



Currency Strength Index: FxWirePro's hourly EUR spot index is flashing at -54 levels (which is bearish ), while hourly JPY spot index was at 12 (mildly bullish ) while articulating at 05:09 GMT 0.66% .



Submit Your Comments:

 Forex Trading VPS


FOREX FUNCTION MEMBERSHIP

FX PREMIUM SIGNAL & AUTOCOPY
Email & Twitter SMS Alert | Secured & Errorless Auto Copy | Support All Broker & Account Types | Premium eBooks, Analysis & Strategy | Custom Risk Management

Plan NameBuy LinkEmail AlertTwitter
SMS Alert
Signal Auto
Copier EA
Free VPS
(1-3 Months)
Monthly Target
(Minimum)
Price
(Montly)
Price
(Quarterly)
Price
(Semi-Annually )
Price
(Annually)
Setup
AUTO COPY Subscribe NowYes Yes Yes Yes*
(Min 3 Month Subscription)
500+ Pips $25 23$ 20$$15Via Live Support
SIGNAL ALERT Subscribe NowYes Yes No No 500+ Pips $14 12$ 9$$7No Need
CashBack View DetailsYes Yes Yes Yes 500+ PipsFree Free FreeFreeVia Support

FF FOREX VPS
Windows 2008/2012 | Server Location Amsterdam, France, Canada | Low Latency From Brokers| Super Fast Trading Experience | All types of EA supported | 3 Days Money Back Guarantee

Plan NameBuy Link CPU RAM Disk BandWidth Price (Montly)Price (Quarterly)Price (Semi-Annually )Price (Annually) InstallationBackUpSetup Fee
Economy buy now2 Core 756MB 15GB 1TB $6.50/M$6.20/M$5.90/M $5.50/M MT4 Pre-InstalledYesFree
Standard buy now 2 Core 1GB 25GB 1.5TB $8.50/M$8.20/M$7.90/M $7.50/M MT4 Pre-InstalledYesFree
Premiumbuy now 2 Core 2GB 40GB 2TB $16/M$15.50/M$15/M$14.50/M MT4 Pre-InstalledYesFree
Advanced buy now4 Core 3GB 60GB 2.5TB $26/M$25/M$24/M $22/M MT4 Pre-InstalledYesFree
Professionalbuy now 4 Core 4GB 80GB 3TB $33/M $32/M$31/M$29/MMT4 Pre-InstalledYesFree
Business buy now 4 Core 6GB 100GB 4TB$46/M $45/M$44/M$42/MMT4 Pre-InstalledYesFree
Platinum buy now 4 Core 8GB 120GB 6TB $59/M $58/M$57/M$55/M MT4 Pre-InstalledYesFree
Diamond buy now 4 Core 12GB 180GB 8TB $89/M $87/M$85/M$81/MMT4 Pre-InstalledYesFree

***We accept Neteller, Skrill, MasterCard, Paypal, Payza, Perfect Money, Webmoney !