We’ve seen some big falls in the markets over the past week and this week we have a mixture of potential longs and shorts where we’re looking at some of the euro and yen pairs.
EURJPY – Short
EJ has engulfed demand on the daily and there are green candles below which could indicate a smooth ride down. We’ll see if PA confirms this as the week goes on.
GBPJPY – Short
GJ has continued to fall heavily and there doesn’t seem to be many levels in the way to stop it so I’ll be looking to get in on the way down with confirmation.
GBPUSD – Long
GU has also seen big drops and he’s heading towards the next demand level which can be seen below. Price also rallied from the area where price closed last week so watch PA around here.
USDCHF – Long/Short
The Swizzy hit supply last week, but there’s a base standing right in the way. I’d like to see that engulfed before shorting here. Price could hit that and rally higher from there.
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