EUR/JPY: bulls are trying to resume the uptrend

EUR/JPY: bulls are trying to resume the uptrend


BUY 131.85

SL 131.3

TP1 132.65 TP2 133.25 TP3 136.65

On the daily chart of EUR/JPY, the “Shakeout-Fakeout” pattern is implementing.  It is worth to sell at the 130 level. To resume the uptrend and reach the 88.6% target of the “Shark” pattern, the pair needs to break the April high.   


On H1, bulls hope to implement the corrective “Three Indians” pattern. To succeed, bulls need to break the resistance at 131.85 and pull the pair out the downward channel.



XAU/USD: a short-term trade

Last week XAU/USD recovered 38.2% of the November decline. However, the advance of gold was limited by the declining 50-period MA on the H4.

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The outlook for the GBP

The British pound has been enjoying itself versus the other major currencies during the past weeks. WIll the advance of the GBP continue?

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