#rangetrading

[wetalktrade]

8 Types of Trading in FX.

[tradersir]

Each individual follows a certain trading style which suits him well and he adopts some trading strategies that work for his trading style.

Read the article to know more. https://tradersir.com/forex-trading-strategies-for-beginners/

[mintingprofit]

Wake Up Wall Street (SPDR, S&P 500, SPY): Range-trading time as volumes vanishes

Wake Up Wall Street (SPDR, S&P 500, SPY): Range-trading time as volumes vanishes

Here is what you need to know on Thursday, December 22: What, you’re still here? Why? Do you think something is going to happen? Well, if 2022 is anyt #Wake #Wall #Street #SPDR #SampP #SPY #Rangetrading #time #volumes #vanishes

[traderpulse]

Learn to adapt and survive! 3 Forex tips for you to adjust to the low volatility.

[forexrealbroker]

The Beginners Guide To Best Trading Strategy

Forex is a combination of foreign currency and exchange. exchange is that the method of fixing one currency into another currency for a huge sort of reasons, including:

• Commerce • Trading • Tourism

Forex, or exchange, is explained as a network of patrons and sellers, WHO transfers currency between associateother} at an united value. By doing these people, corporations and central banks convert one currency into another. whereas plenty of exchange is finished for sensible functions, the overwhelming majority of currency conversion is undertaken with the aim of earning a profit.

Learning the way to trade Forex are often an advanced method for beginners. the general public have a dream of obtaining wealthy long, which can prove precisely as false because it sounds. the globe of Forex commerce are often overwhelming, particularly after you area unit new the sport, and don’t grasp or perceive the principles yet. There area unit plenty of figures concerning several|what percentage|what number} traders with success build cash and the way many traders occur a loss of cash. the foremost common figure appears to be that ninetieth of traders occur a loss of cash, and solely 100 percent of traders area unit systematically profitable. what's it that this 100 percent do that place them during this league? initial, you'll need:

• A fast wit • The ability to figure and keep calm below stress • The courageousness to require risks • Persistence a • The ability to create fast selections

Decoding the foremost common terms employed in forex can speed up traders understanding of the globe of currencies: Currency Nicknames:

• Single Currency – EUR (Euro) • Loonie – CAD (Canadian dollar) • Swissie– CHF (Swiss franc) • Aussie – AUD (Australian dollar) • Kiwi – NZD (New Seeland dollar) • Greenback, Buck – USD (U.S. dollar) • Sterling, quid – GBP (British pound)

-Popular phrases

• Going Long – gap a optimistic (buying) trade • Going Short – gap a pessimistic (selling) trade • Cutting Short – to shut a losing position early • Plunging – A value that’s sinking or falling from its previous worth • Currency rallying – A value that recovers when a amount of its decline • Position Trading–Trading with Brobdingnagian stop-losses for many months to years, while not being too involved with short term movements in quality costs

Technical Indicators in Forex commerce methods Technical indicators area unit the calculations supported the worth and volume of security and area unit used each to substantiate the trend and therefore the quality of chart patterns, and to assist traders verify the obtain and sell signals.

• Moving Average • Bollinger Bands • Relative Strength Index (RSI) • Stochastic generator • Moving Average Convergence/Divergence (MACD) • RSI-Bars • ADX • Momentum

In Forex technical analysis a chart may be a graphical depiction of value movements over an explicit time-frame. It will show security’s value movement over a month or a year amount.

The Best Forex commerce methods are:

Perhaps the most important a part of forex commerce methods relies on the most sorts of Forex marketing research wont to perceive the market movement.

1. Forex Technical Analysis methods

What is Forex technical analysis? Forex technical analysis is that the study of market action by the first use of charts for the aim of prediction future value trends. Forex traders can develop best strategies and tips of trading based on various technical analysis tools together with –

• Market trends • Volume • Range • Support • Resistance levels • Chart patterns • Indicators

Forex traders will conduct a Multiple time-frame Analysis by the utilization of various timeframe charts. Technical analysis methods area unit an important methodology of evaluating assets supported the analysis and statistics of past market action, past costs and past volume.

2. Forex trend commerce Strategy

Trends represents one in every of the foremost essential ideas in technical analysis.All the technical analysis tools that area unit used have one purpose which is to assist determine the market trends. what's Forex Trend? very like the other trend as an example in fashion- it's the direction within which the market moves. a lot of exactly sensible to grasp, the exchange market doesn't move in an exceedingly line, however a lot of in sequent waves with clear peaks or highs and lows. looking on the movement of those ‘highs and lows’ one will then perceive the trend’s sort. There area unit 3 sorts of trends that the market will move in:

• Uptrend • Downtrend • Sideways Traders and investors confront 3 sorts of decisions: • To buy • To sell • Do nothing

Learn how to trade Forex. transfer our free e-book

During any kind of trend, traders ought to develop a particular strategy. The shopping for strategy is desirable once the market goes up and equally the commercialism strategy may be profitable once the market goes down. however once the market moves sideways the third possibility – to remain aside– are the cleverest call.

3. Support and Resistance commerce Strategy

In order to completely perceive the core of the support and resistance commerce strategy, traders ought to perceive what a horizontal level is. A horizontal level is:

 A price index indicating either a support or resistance within the market. In technical terms – value lows and highs severally.

The term support indicates:

The space on the chart wherever the shopping for interest ispointedlystrong and exceeds the commercialism pressure.

The Resistance level indicates:

An space on the chart wherever commercialism interest overpowers shopping for pressure. It isusually markedby previous peaks.

In order to develop a support andresistance strategy traders ought to be conscious of however the trend is known through these horizontal levels.

4. Forex RangeTrading Strategy

What is vary trading?

• A vary commerce strategy (Channel trading) is generally related to the shortage of market direction and it's used throughout the absence of a trend.

Range trading identifies currency price movement in channels to find the range. This process is carried out by connecting a series of highs and lows with a horizontal trendline.

5. Forex Volume trading strategy

The volume shows the number of securities that are traded over a particular time.

• Higher volume = higher degree of intensity or pressure.

In order to determine the upward or downward movement of the volume, traders should look at the trading volume bars usually presented at the bottom of the chart.Any price movement is more significant if accompanied by a relatively high volume + a weak volume. Take note:Not all volume types may influence the trade, it’s the volume of large amounts of money that is traded within the same day and greatly affects the market.

6. Multiple Time Frame Analysis Strategy

Using Multiple Time Frame Analysis suggests following a certain security price over different time frames. Itisa very useful strategy for traders to analyse various time frames while determining the “trading circle” of the security. Through the Multiple Time Frame Analysis (MTFA) traders can regulate the trend both on smaller and bigger scales and recognize the overall market trend. The whole process of MTFA starts with the exact identification of the market direction on higher time frames (long, short or intermediary) and analysing it through lower time frames starting from a 5-minute chart.

7. Forex Trading Strategy Based on Fundamental Analysis

While technical analysis is focused on the study and past performance of market action, Forex fundamental analysis focusses on the fundamental reasons that make an influence on the market direction.

8. Forex Trading Strategy Based on Market Sentiment

Market sentiment is defined by investors’ attitude towards the financial market or particular security. What and how people feel and how it behaves in Forex market is the notion behind the market sentiment strategy. Forex trading strategies can also be developed by following popular trading styles including day trading, carry trade, buy and hold strategy, hedging, portfolio trading, spread trading, swing trading, order trading and algorithmic trading.

Selecting A Trading Strategy

Selecting a trading strategy doesn’t have to be complicated and you don’t have to stick with just one. A key thing to remember is that the best traders are adaptable and can change their trading strategy based on opportunities. Therefore, it’s a good idea to learn about each individual trading strategy and by combining different approaches to trading, you will become adaptive to each situation. Nevertheless, remember not to become disheartened if you encounter initial losses on your capital. Patience is key when learning to become a successful trader, and mistakes and losses are inevitable in order to grow and develop your trading skills. Successful traders often track their profits and losses, which helps to maintain their consistency and discipline across all trades. Read full review and article- Tips and Strategies for trading on Xlntrade that could help to improve your trade performance.

[taylordmorris]

USDJPY stays in n/t range-trading, with the upside being in focus

New Post has been published on http://u.to/5_nkDA

USDJPY stays in n/t range-trading, with the upside being in focus

EURUSD

Near-term consolidation above 1.0895 low, remains capped by falling trendline that connects 1.1712 and 1.1458 peaks, which currently lies at 1.1042. Barrier is reinforced by falling daily 10SMA and together with 200SMA at 1.1106, marks strong resistance zone, which is seen capping upside attempts, ahead of fresh push lower. Near-term studies are in neutral/negative mode, while bears prevail on daily technicals and favor bearish resumption of larger bear-leg from 1.1494, peak of 15 Oct, after completion of corrective phase from 1.0895, 28 Oct low. Alternatively, sustained break above 200SMA and 1.1124, Fibonacci 38.2% of 1.1494/1.0895 downleg, would sideline bears, in favor of extended correction.

Res:1.1029; 1.1042; 1.1071; 1.1094 Sup: 1.0983; 1.0964; 1.0937; 1.0895

GBPUSD

Cable entered near-term consolidative phase, after yesterday’s attack at key 1.5506, stalled ticks below the barrier, after unsuccessful attempt above daily Ichimoku cloud top at 1.5475. Subsequent easing returned below daily cloud base at 1.5435, however, dips found temporary support at 1.5400, Fibonacci 38.2% of 1.5240/1.5495 upleg. This marks consolidation range floor and is expected to hold and keep immediate focus at the upside. Bullishly aligned near-term studies, support the notion. On the other side, yesterday’s daily candle with long upper shadow, signals rising pressure, along with bearish momentum building up, seeing potential for stronger pullback on loss of 1.54 handle. Extension below 1.54 and violation of daily 20SMA at 1.5371 is needed to confirm scenario.

Res: 1.5435; 1.5475; 1.5495; 1.5506 Sup: 1.5400; 1.5371; 1.5338; 1.5300

USDJPY

The pair probes again above daily Ichimoku cloud top at 120.70, following yesterday’s positive close that occurred ticks above cloud’s top. However, the price action remains entrenched within near-term range established between120.00/121.46 and sustained break of either range boundary will signal fresh direction. Near-term studies hold bullish/neutral tone, while daily indicators are bullishly aligned, but setup of MA’s is still mixed. Lift above daily Ichimoku cloud top, to expose 121.03, 200SMA, which guards key barriers at 121.46, consolidation top and 121.64, 31 Aug high and top of multi-month congestion. Daily Tenkan-sen marks initial support at 120.53, ahead of psychological 120 handle, also range floor and widened daily cloud base at 119.76.

Res: 120.83; 121.03; 121.46; 121.64 Sup: 120.53; 120.16; 120.00; 119.76

USDTRY

The pair breaks above 2.8107/2.8347, near-term consolidation range, in attempts to resume recovery, following yesterday’s over 5% fall on strong gap-lower opening, after which the price posted fresh 3-month low at 2.7575. Indecision was seen after yesterday’s wide-range trade between 2.7575 and 2.8577, as trading ended in a shape of long-legged Doji candle. Extended consolidation between fresh low at 2.7575 and strong barrier at 2.8590, former low of 23 Oct / daily Ichimoku cloud base, which capped yesterday’s upside attempts is seen as favored near-term scenario. Overall structure is firmly bearish and favors fresh downside attempts, after completion of consolidative phase. Initial resistance lies at 2.8500, Daily Tenkan-sen line, which guards pivotal 2.8590 barrier, penetration of which would sideline bearish scenarios and signal further correction. Next pivot lies at 2.8719, Fibonacci 61.8% of 2.9426/2.7575 fall, while regain of descending daily 20SMA, currently at 2.8997, will neutralize bears and open way filling Monday’s gap

Res: 2.8500; 2.8590; 2.8719; 2.8997 Sup: 2.8105; 2.7989; 2.7781; 2.7575

Read More http://u.to/5_nkDA

[breakbit]

USDJPY stays in n/t range-trading, with the upside being in focus

New Post has been published on http://u.to/5_nkDA

USDJPY stays in n/t range-trading, with the upside being in focus

EURUSD

Near-term consolidation above 1.0895 low, remains capped by falling trendline that connects 1.1712 and 1.1458 peaks, which currently lies at 1.1042. Barrier is reinforced by falling daily 10SMA and together with 200SMA at 1.1106, marks strong resistance zone, which is seen capping upside attempts, ahead of fresh push lower. Near-term studies are in neutral/negative mode, while bears prevail on daily technicals and favor bearish resumption of larger bear-leg from 1.1494, peak of 15 Oct, after completion of corrective phase from 1.0895, 28 Oct low. Alternatively, sustained break above 200SMA and 1.1124, Fibonacci 38.2% of 1.1494/1.0895 downleg, would sideline bears, in favor of extended correction.

Res:1.1029; 1.1042; 1.1071; 1.1094 Sup: 1.0983; 1.0964; 1.0937; 1.0895

GBPUSD

Cable entered near-term consolidative phase, after yesterday’s attack at key 1.5506, stalled ticks below the barrier, after unsuccessful attempt above daily Ichimoku cloud top at 1.5475. Subsequent easing returned below daily cloud base at 1.5435, however, dips found temporary support at 1.5400, Fibonacci 38.2% of 1.5240/1.5495 upleg. This marks consolidation range floor and is expected to hold and keep immediate focus at the upside. Bullishly aligned near-term studies, support the notion. On the other side, yesterday’s daily candle with long upper shadow, signals rising pressure, along with bearish momentum building up, seeing potential for stronger pullback on loss of 1.54 handle. Extension below 1.54 and violation of daily 20SMA at 1.5371 is needed to confirm scenario.

Res: 1.5435; 1.5475; 1.5495; 1.5506 Sup: 1.5400; 1.5371; 1.5338; 1.5300

USDJPY

The pair probes again above daily Ichimoku cloud top at 120.70, following yesterday’s positive close that occurred ticks above cloud’s top. However, the price action remains entrenched within near-term range established between120.00/121.46 and sustained break of either range boundary will signal fresh direction. Near-term studies hold bullish/neutral tone, while daily indicators are bullishly aligned, but setup of MA’s is still mixed. Lift above daily Ichimoku cloud top, to expose 121.03, 200SMA, which guards key barriers at 121.46, consolidation top and 121.64, 31 Aug high and top of multi-month congestion. Daily Tenkan-sen marks initial support at 120.53, ahead of psychological 120 handle, also range floor and widened daily cloud base at 119.76.

Res: 120.83; 121.03; 121.46; 121.64 Sup: 120.53; 120.16; 120.00; 119.76

USDTRY

The pair breaks above 2.8107/2.8347, near-term consolidation range, in attempts to resume recovery, following yesterday’s over 5% fall on strong gap-lower opening, after which the price posted fresh 3-month low at 2.7575. Indecision was seen after yesterday’s wide-range trade between 2.7575 and 2.8577, as trading ended in a shape of long-legged Doji candle. Extended consolidation between fresh low at 2.7575 and strong barrier at 2.8590, former low of 23 Oct / daily Ichimoku cloud base, which capped yesterday’s upside attempts is seen as favored near-term scenario. Overall structure is firmly bearish and favors fresh downside attempts, after completion of consolidative phase. Initial resistance lies at 2.8500, Daily Tenkan-sen line, which guards pivotal 2.8590 barrier, penetration of which would sideline bearish scenarios and signal further correction. Next pivot lies at 2.8719, Fibonacci 61.8% of 2.9426/2.7575 fall, while regain of descending daily 20SMA, currently at 2.8997, will neutralize bears and open way filling Monday’s gap

Res: 2.8500; 2.8590; 2.8719; 2.8997 Sup: 2.8105; 2.7989; 2.7781; 2.7575

Read More http://u.to/5_nkDA

[cute1dfacts]

USDJPY stays in n/t range-trading, with the upside being in focus

New Post has been published on http://u.to/5_nkDA

USDJPY stays in n/t range-trading, with the upside being in focus

EURUSD

Near-term consolidation above 1.0895 low, remains capped by falling trendline that connects 1.1712 and 1.1458 peaks, which currently lies at 1.1042. Barrier is reinforced by falling daily 10SMA and together with 200SMA at 1.1106, marks strong resistance zone, which is seen capping upside attempts, ahead of fresh push lower. Near-term studies are in neutral/negative mode, while bears prevail on daily technicals and favor bearish resumption of larger bear-leg from 1.1494, peak of 15 Oct, after completion of corrective phase from 1.0895, 28 Oct low. Alternatively, sustained break above 200SMA and 1.1124, Fibonacci 38.2% of 1.1494/1.0895 downleg, would sideline bears, in favor of extended correction.

Res:1.1029; 1.1042; 1.1071; 1.1094 Sup: 1.0983; 1.0964; 1.0937; 1.0895

GBPUSD

Cable entered near-term consolidative phase, after yesterday’s attack at key 1.5506, stalled ticks below the barrier, after unsuccessful attempt above daily Ichimoku cloud top at 1.5475. Subsequent easing returned below daily cloud base at 1.5435, however, dips found temporary support at 1.5400, Fibonacci 38.2% of 1.5240/1.5495 upleg. This marks consolidation range floor and is expected to hold and keep immediate focus at the upside. Bullishly aligned near-term studies, support the notion. On the other side, yesterday’s daily candle with long upper shadow, signals rising pressure, along with bearish momentum building up, seeing potential for stronger pullback on loss of 1.54 handle. Extension below 1.54 and violation of daily 20SMA at 1.5371 is needed to confirm scenario.

Res: 1.5435; 1.5475; 1.5495; 1.5506 Sup: 1.5400; 1.5371; 1.5338; 1.5300

USDJPY

The pair probes again above daily Ichimoku cloud top at 120.70, following yesterday’s positive close that occurred ticks above cloud’s top. However, the price action remains entrenched within near-term range established between120.00/121.46 and sustained break of either range boundary will signal fresh direction. Near-term studies hold bullish/neutral tone, while daily indicators are bullishly aligned, but setup of MA’s is still mixed. Lift above daily Ichimoku cloud top, to expose 121.03, 200SMA, which guards key barriers at 121.46, consolidation top and 121.64, 31 Aug high and top of multi-month congestion. Daily Tenkan-sen marks initial support at 120.53, ahead of psychological 120 handle, also range floor and widened daily cloud base at 119.76.

Res: 120.83; 121.03; 121.46; 121.64 Sup: 120.53; 120.16; 120.00; 119.76

USDTRY

The pair breaks above 2.8107/2.8347, near-term consolidation range, in attempts to resume recovery, following yesterday’s over 5% fall on strong gap-lower opening, after which the price posted fresh 3-month low at 2.7575. Indecision was seen after yesterday’s wide-range trade between 2.7575 and 2.8577, as trading ended in a shape of long-legged Doji candle. Extended consolidation between fresh low at 2.7575 and strong barrier at 2.8590, former low of 23 Oct / daily Ichimoku cloud base, which capped yesterday’s upside attempts is seen as favored near-term scenario. Overall structure is firmly bearish and favors fresh downside attempts, after completion of consolidative phase. Initial resistance lies at 2.8500, Daily Tenkan-sen line, which guards pivotal 2.8590 barrier, penetration of which would sideline bearish scenarios and signal further correction. Next pivot lies at 2.8719, Fibonacci 61.8% of 2.9426/2.7575 fall, while regain of descending daily 20SMA, currently at 2.8997, will neutralize bears and open way filling Monday’s gap

Res: 2.8500; 2.8590; 2.8719; 2.8997 Sup: 2.8105; 2.7989; 2.7781; 2.7575

Read More http://u.to/5_nkDA

[jettadarkwynd]

USDJPY stays in n/t range-trading, with the upside being in focus

New Post has been published on http://u.to/5_nkDA

USDJPY stays in n/t range-trading, with the upside being in focus

EURUSD

Near-term consolidation above 1.0895 low, remains capped by falling trendline that connects 1.1712 and 1.1458 peaks, which currently lies at 1.1042. Barrier is reinforced by falling daily 10SMA and together with 200SMA at 1.1106, marks strong resistance zone, which is seen capping upside attempts, ahead of fresh push lower. Near-term studies are in neutral/negative mode, while bears prevail on daily technicals and favor bearish resumption of larger bear-leg from 1.1494, peak of 15 Oct, after completion of corrective phase from 1.0895, 28 Oct low. Alternatively, sustained break above 200SMA and 1.1124, Fibonacci 38.2% of 1.1494/1.0895 downleg, would sideline bears, in favor of extended correction.

Res:1.1029; 1.1042; 1.1071; 1.1094 Sup: 1.0983; 1.0964; 1.0937; 1.0895

GBPUSD

Cable entered near-term consolidative phase, after yesterday’s attack at key 1.5506, stalled ticks below the barrier, after unsuccessful attempt above daily Ichimoku cloud top at 1.5475. Subsequent easing returned below daily cloud base at 1.5435, however, dips found temporary support at 1.5400, Fibonacci 38.2% of 1.5240/1.5495 upleg. This marks consolidation range floor and is expected to hold and keep immediate focus at the upside. Bullishly aligned near-term studies, support the notion. On the other side, yesterday’s daily candle with long upper shadow, signals rising pressure, along with bearish momentum building up, seeing potential for stronger pullback on loss of 1.54 handle. Extension below 1.54 and violation of daily 20SMA at 1.5371 is needed to confirm scenario.

Res: 1.5435; 1.5475; 1.5495; 1.5506 Sup: 1.5400; 1.5371; 1.5338; 1.5300

USDJPY

The pair probes again above daily Ichimoku cloud top at 120.70, following yesterday’s positive close that occurred ticks above cloud’s top. However, the price action remains entrenched within near-term range established between120.00/121.46 and sustained break of either range boundary will signal fresh direction. Near-term studies hold bullish/neutral tone, while daily indicators are bullishly aligned, but setup of MA’s is still mixed. Lift above daily Ichimoku cloud top, to expose 121.03, 200SMA, which guards key barriers at 121.46, consolidation top and 121.64, 31 Aug high and top of multi-month congestion. Daily Tenkan-sen marks initial support at 120.53, ahead of psychological 120 handle, also range floor and widened daily cloud base at 119.76.

Res: 120.83; 121.03; 121.46; 121.64 Sup: 120.53; 120.16; 120.00; 119.76

USDTRY

The pair breaks above 2.8107/2.8347, near-term consolidation range, in attempts to resume recovery, following yesterday’s over 5% fall on strong gap-lower opening, after which the price posted fresh 3-month low at 2.7575. Indecision was seen after yesterday’s wide-range trade between 2.7575 and 2.8577, as trading ended in a shape of long-legged Doji candle. Extended consolidation between fresh low at 2.7575 and strong barrier at 2.8590, former low of 23 Oct / daily Ichimoku cloud base, which capped yesterday’s upside attempts is seen as favored near-term scenario. Overall structure is firmly bearish and favors fresh downside attempts, after completion of consolidative phase. Initial resistance lies at 2.8500, Daily Tenkan-sen line, which guards pivotal 2.8590 barrier, penetration of which would sideline bearish scenarios and signal further correction. Next pivot lies at 2.8719, Fibonacci 61.8% of 2.9426/2.7575 fall, while regain of descending daily 20SMA, currently at 2.8997, will neutralize bears and open way filling Monday’s gap

Res: 2.8500; 2.8590; 2.8719; 2.8997 Sup: 2.8105; 2.7989; 2.7781; 2.7575

Read More http://u.to/5_nkDA

[wetalktrade]

All roads lead to same destination. But what is your way of doing it? Choose the one which suits to your personality.

[tradersir]

Each individual follows a certain trading style which suits him well and he adopts some trading strategies that work for his trading style.

Read the article to know more. https://tradersir.com/forex-trading-strategies-for-beginners/

[chloe-jayde]

USDJPY stays in n/t range-trading, with the upside being in focus

New Post has been published on http://u.to/5_nkDA

USDJPY stays in n/t range-trading, with the upside being in focus

EURUSD

Near-term consolidation above 1.0895 low, remains capped by falling trendline that connects 1.1712 and 1.1458 peaks, which currently lies at 1.1042. Barrier is reinforced by falling daily 10SMA and together with 200SMA at 1.1106, marks strong resistance zone, which is seen capping upside attempts, ahead of fresh push lower. Near-term studies are in neutral/negative mode, while bears prevail on daily technicals and favor bearish resumption of larger bear-leg from 1.1494, peak of 15 Oct, after completion of corrective phase from 1.0895, 28 Oct low. Alternatively, sustained break above 200SMA and 1.1124, Fibonacci 38.2% of 1.1494/1.0895 downleg, would sideline bears, in favor of extended correction.

Res:1.1029; 1.1042; 1.1071; 1.1094 Sup: 1.0983; 1.0964; 1.0937; 1.0895

GBPUSD

Cable entered near-term consolidative phase, after yesterday’s attack at key 1.5506, stalled ticks below the barrier, after unsuccessful attempt above daily Ichimoku cloud top at 1.5475. Subsequent easing returned below daily cloud base at 1.5435, however, dips found temporary support at 1.5400, Fibonacci 38.2% of 1.5240/1.5495 upleg. This marks consolidation range floor and is expected to hold and keep immediate focus at the upside. Bullishly aligned near-term studies, support the notion. On the other side, yesterday’s daily candle with long upper shadow, signals rising pressure, along with bearish momentum building up, seeing potential for stronger pullback on loss of 1.54 handle. Extension below 1.54 and violation of daily 20SMA at 1.5371 is needed to confirm scenario.

Res: 1.5435; 1.5475; 1.5495; 1.5506 Sup: 1.5400; 1.5371; 1.5338; 1.5300

USDJPY

The pair probes again above daily Ichimoku cloud top at 120.70, following yesterday’s positive close that occurred ticks above cloud’s top. However, the price action remains entrenched within near-term range established between120.00/121.46 and sustained break of either range boundary will signal fresh direction. Near-term studies hold bullish/neutral tone, while daily indicators are bullishly aligned, but setup of MA’s is still mixed. Lift above daily Ichimoku cloud top, to expose 121.03, 200SMA, which guards key barriers at 121.46, consolidation top and 121.64, 31 Aug high and top of multi-month congestion. Daily Tenkan-sen marks initial support at 120.53, ahead of psychological 120 handle, also range floor and widened daily cloud base at 119.76.

Res: 120.83; 121.03; 121.46; 121.64 Sup: 120.53; 120.16; 120.00; 119.76

USDTRY

The pair breaks above 2.8107/2.8347, near-term consolidation range, in attempts to resume recovery, following yesterday’s over 5% fall on strong gap-lower opening, after which the price posted fresh 3-month low at 2.7575. Indecision was seen after yesterday’s wide-range trade between 2.7575 and 2.8577, as trading ended in a shape of long-legged Doji candle. Extended consolidation between fresh low at 2.7575 and strong barrier at 2.8590, former low of 23 Oct / daily Ichimoku cloud base, which capped yesterday’s upside attempts is seen as favored near-term scenario. Overall structure is firmly bearish and favors fresh downside attempts, after completion of consolidative phase. Initial resistance lies at 2.8500, Daily Tenkan-sen line, which guards pivotal 2.8590 barrier, penetration of which would sideline bearish scenarios and signal further correction. Next pivot lies at 2.8719, Fibonacci 61.8% of 2.9426/2.7575 fall, while regain of descending daily 20SMA, currently at 2.8997, will neutralize bears and open way filling Monday’s gap

Res: 2.8500; 2.8590; 2.8719; 2.8997 Sup: 2.8105; 2.7989; 2.7781; 2.7575

Read More http://u.to/5_nkDA

[benmauerberger]

USDJPY stays in n/t range-trading, with the upside being in focus

New Post has been published on http://u.to/5_nkDA

USDJPY stays in n/t range-trading, with the upside being in focus

EURUSD

Near-term consolidation above 1.0895 low, remains capped by falling trendline that connects 1.1712 and 1.1458 peaks, which currently lies at 1.1042. Barrier is reinforced by falling daily 10SMA and together with 200SMA at 1.1106, marks strong resistance zone, which is seen capping upside attempts, ahead of fresh push lower. Near-term studies are in neutral/negative mode, while bears prevail on daily technicals and favor bearish resumption of larger bear-leg from 1.1494, peak of 15 Oct, after completion of corrective phase from 1.0895, 28 Oct low. Alternatively, sustained break above 200SMA and 1.1124, Fibonacci 38.2% of 1.1494/1.0895 downleg, would sideline bears, in favor of extended correction.

Res:1.1029; 1.1042; 1.1071; 1.1094 Sup: 1.0983; 1.0964; 1.0937; 1.0895

GBPUSD

Cable entered near-term consolidative phase, after yesterday’s attack at key 1.5506, stalled ticks below the barrier, after unsuccessful attempt above daily Ichimoku cloud top at 1.5475. Subsequent easing returned below daily cloud base at 1.5435, however, dips found temporary support at 1.5400, Fibonacci 38.2% of 1.5240/1.5495 upleg. This marks consolidation range floor and is expected to hold and keep immediate focus at the upside. Bullishly aligned near-term studies, support the notion. On the other side, yesterday’s daily candle with long upper shadow, signals rising pressure, along with bearish momentum building up, seeing potential for stronger pullback on loss of 1.54 handle. Extension below 1.54 and violation of daily 20SMA at 1.5371 is needed to confirm scenario.

Res: 1.5435; 1.5475; 1.5495; 1.5506 Sup: 1.5400; 1.5371; 1.5338; 1.5300

USDJPY

The pair probes again above daily Ichimoku cloud top at 120.70, following yesterday’s positive close that occurred ticks above cloud’s top. However, the price action remains entrenched within near-term range established between120.00/121.46 and sustained break of either range boundary will signal fresh direction. Near-term studies hold bullish/neutral tone, while daily indicators are bullishly aligned, but setup of MA’s is still mixed. Lift above daily Ichimoku cloud top, to expose 121.03, 200SMA, which guards key barriers at 121.46, consolidation top and 121.64, 31 Aug high and top of multi-month congestion. Daily Tenkan-sen marks initial support at 120.53, ahead of psychological 120 handle, also range floor and widened daily cloud base at 119.76.

Res: 120.83; 121.03; 121.46; 121.64 Sup: 120.53; 120.16; 120.00; 119.76

USDTRY

The pair breaks above 2.8107/2.8347, near-term consolidation range, in attempts to resume recovery, following yesterday’s over 5% fall on strong gap-lower opening, after which the price posted fresh 3-month low at 2.7575. Indecision was seen after yesterday’s wide-range trade between 2.7575 and 2.8577, as trading ended in a shape of long-legged Doji candle. Extended consolidation between fresh low at 2.7575 and strong barrier at 2.8590, former low of 23 Oct / daily Ichimoku cloud base, which capped yesterday’s upside attempts is seen as favored near-term scenario. Overall structure is firmly bearish and favors fresh downside attempts, after completion of consolidative phase. Initial resistance lies at 2.8500, Daily Tenkan-sen line, which guards pivotal 2.8590 barrier, penetration of which would sideline bearish scenarios and signal further correction. Next pivot lies at 2.8719, Fibonacci 61.8% of 2.9426/2.7575 fall, while regain of descending daily 20SMA, currently at 2.8997, will neutralize bears and open way filling Monday’s gap

Res: 2.8500; 2.8590; 2.8719; 2.8997 Sup: 2.8105; 2.7989; 2.7781; 2.7575

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