What happened? Japanese shares fell on Monday…
USD/JPY: bearish "Harami"
2019-11-11 • Updated
There's a bearish "Harami", which has been formed on the upper "Window". So, the market is likely going to test the lower "Window" in the short term.
The 89 Moving Average has acted as resistance once again, so there's a "Harami" pattern. Therefore, the market is likely going to continue moving down in the coming hours.
Weaker dollar - cheaper dollar. What else may be a conclusion to be drawn from the USD's weakening?
In a few days, primary Forex currencies will hear what their respective central banks think about the future - and we're about to trade it!
A comparative examination of the strength of the US-Dollar often gives tangible insight into the direction of Gold (XAUUSD). The chart above indicates the expectation of a bullish price reaction from the demand zone
The US Dollar has been remarkably sluggish for the past few weeks despite being within a distinct Demand zone. My expectation of a springing rebound off the demand zone has not exactly played out yet, however, the zone remains unbroken.
For those who may be unfamiliar with Price Action trading, the horizontal arrows represent areas where the market structure was broken. As you can see in the scenario above, price broke below the previous low at the two marked instances