Good Morning Traders,
Today we chose UJ to analyse in the Long Term
The black horizontal line in the chart is a key level, which, as you can seen, is also a rejection zone along with the horizontal rectangles.
Once the pair reached the key level, the pair rejected and didn't drop or rise much more from the key zone
We are 30 pips, more or less, from the support and resistance zone. In the actual position, with the actual setup from the pair, the price might drop 50% till the middle of previous bullish candle since it's a big movement but it could also drop much further than the 50% and catch the support zone before rising again and reaching the Resistance
Depends all from 10/02 where we have the Core CPI and Unemployment claims from USD. If the reports favor the USD, we could have a rise of all USD pairs, if bad, the pairs will , probably, drop
Today we chose UJ to analyse in the Long Term
The black horizontal line in the chart is a key level, which, as you can seen, is also a rejection zone along with the horizontal rectangles.
Once the pair reached the key level, the pair rejected and didn't drop or rise much more from the key zone
We are 30 pips, more or less, from the support and resistance zone. In the actual position, with the actual setup from the pair, the price might drop 50% till the middle of previous bullish candle since it's a big movement but it could also drop much further than the 50% and catch the support zone before rising again and reaching the Resistance
Depends all from 10/02 where we have the Core CPI and Unemployment claims from USD. If the reports favor the USD, we could have a rise of all USD pairs, if bad, the pairs will , probably, drop