
Last week brought a selloff in markets. Some assets reached the most crucial support levels and are likely to reverse in a short term. Be ahead of trends and make the most out of this week!
2019-11-11 • Updated
Trade ideas
BUY 113.00; TP 113.60; SL 112.80
SELL 112.60; TP 112.20; SL 112.75
SELL 112.00; TP 111.45; SL 112.20
As the market is waiting for the release of the American Nonfarm Payrolls (NFP), let’s pick a currency pair that will definitely show a big reaction to this event. This pair is USD/JPY.
Technically it remains in an uptrend as long as it’s trading above 112.20 (100-day MA, 23.6% Fibo). At the same time, upside momentum of this trend has clearly declined. If the US figures disappoint, it will be easy for USD/JPY to break down. At the same time, as long as support stands, the pair may return to the resistance if the economic data are good.
On H4, there’s a short-term downtrend resistance line that currently limits the buyers. The market is likely to make its move after 15:30 MT time.
Last week brought a selloff in markets. Some assets reached the most crucial support levels and are likely to reverse in a short term. Be ahead of trends and make the most out of this week!
It was an intense week across all the markets! We saw decent movements of major pairs, gas, stock indices, and oil prices. What should we trade this week? Time to check!
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Don’t waste your time – keep track of how NFP affects the US dollar and profit!
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