The Australian dollar begins the second quarter of 2017 with a downfall. AUD/USD is struggling to hold onto the 0.76 level, just under support at 0.7610. The pair has been trading in the 0.7610 to 0.77 level for quite some time. The main driver to the downside is retail sales. The volume of sales dropped by [...]
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EURJPY has been bearish on the H4 chart. The pair is having upside correction on the H1 chart now. There is a possibility that the pair would try to make a new lower low later today. Let us find out the levels to watch for to ride on that potential sell move.
EURJPY Free Forex Trading Signals – 3rd April 2017
This is the H1 chart of EURJPY. The pair made a break at 119.100, which was an important level of support. The price has been going towards the North by obeying a Trend line. Most probably, the price would go up to 119.100. If it really does and be the level be the level of resistance by producing an H1 reversal candle, then we should wait for a breakout at the Trend line. Actually, I should call it the anti Trend line here. Once there is a breakout, the confirmation, then selling the pair would be the best option for EURJPY traders as far as H1, and H4 charts are concerned.
This trade setup is based on ABC trading pattern. Traders often have to find out their trading opportunities on ABC trading pattern. Especially Mondays seem to offer entries on ABC trading pattern. No doubt, this is one of the most reliable patterns to take entries on. However, we have to be spot on setting our Take profit. The price often moves towards the opposite abruptly after hitting the target.
You can also take a look at our previous (and most likely profitable) Free Forex Trading Signals Here.
We hope that you enjoy our Free Forex Trading Signal today: EURJPY Free Forex Trading Signals – 3rd April 2017
The post EURJPY Free Forex Trading Signals – 3rd April 2017 appeared first on Advanced Forex Strategies.
AUDUSD Weekly Forex Forecast – 3rd to 7th April 2017
The AUDUSD technical pattern remains bullish but inside a very narrow ranging market. However, there is still a possibility for another marginal intraday low towards the big psychological number 0.7500 before to see any rally. But first, we need a break and a close below support level 0.7600. As long as we trade above 0.7600 AUDUSD should retest 0.7700 resistance level. The stochastic indicator is also in oversold territory which is constructive for the bullish case but for a real trend development, we need a break above 0.7740 swing high.
The Australian economic calendar looks heavy. Monday we have the Retail Sales and based on the market consensus we should expect a flat reading. Tuesday is quite a busy day that will bring the Trade balance figures followed by the RBA Interest Rates decision. The RBA is expected to keep rates unchanged. Later in the day, the RBA Governor Lowe is due to speak at the Reserve Bank Board Dinner, in Melbourne. Thursday RBA assistant governor Debelle has scheduled a speech and on Friday the NFP should be the main drivers.
Previous AUDUSD Weekly Forex Forecast
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