EUR-JPY Bear Market

2018-08-03_23-46

Forex Technical Analysis - There are plenty of support and resistance levels in this snap shot but I have kept this simple and highlighted the main points. Entry Trade ISSL on the breakout.

1. Rising channel breaks bear market

2. Horizontal Support breaks bear market

3. Circa 130 Support breaks bear market

4. Narrow sideways channel breaks dynamic resistance but horizontal resistance holds. Horizontal support soon breached for bear market to continue.

5. Support identified current market = Negative Non Trading Zone.

Hope it helps.

Sir Gissa ........ Out !!!!!!!

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Comments

  • Excellent EY chart and description Sir Gissa, adding this to my watch list and tuning in with my own indis for next week. Joe113.gif

  • Thanks for saying Joe and you are welcome. As you know its always good to prepare the trade by analysing the market to realize which way you should be trading. Hope you caught the short too! 113.gif

  • Awesome and thanks for my share of the pips Sir Gissa
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Forex Market analysis relies on two types of analysis much like Stock Markets: Technical Forex Market Analysis views the data on a chart and considers that the News and Data is built into the Price already (economic, political, social, sentimental and psychological). Various tools and indicators will be used by technical traders, for instance MACD, Bollinger Bands, Moving Averages and more.
Fundamental Forex Market Analysis also uses indicators, for instance reports, Gross Domestic Production (GDP), Retail sales, Consumer spending, Industrial Production, Consumer Price Index, Commodities, Economic Calendars, Balance of Trade levels which could identify Trends between other Nations and more.

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