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:1f636::1f636::1f636::1f636::1f636:
completely understand the essence of support and resistance trading strategy you should firstly know what a horizontal level is. Actually, it is a price level indicating either a support or resistance in the market. The support and resistance in technical analysis are the terms for price lows and highs respectively. The term support indicates the area on the chart where the buying interest is significantly strong and surpasses the selling pressure. It is usually marked by previous troughs. Resistance level,contrary to the support level, represents an area on the chart where sell- ing interest overcomes buying pressure. It is usually marked by previous peaks.
In case this is not so, for instance, if the support level comes down to the previous trough, it may signify that the uptrend is coming to the end or at least it is turning into a sideways trend. It is likely that trend reversal from up to down will occur. The opposite situation takes place in a downtrend; the failure of each support level to move lower than the previous trough may again signal changes in the existing trend.
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EUR/JPY - Euro to Japanese Yen
EUR/JPY
120.75-0.5535(-0.4562%)
08:54:06(GMT)|Real-Time Data, Quoted in JPY
Open
121.30
Day's Range
120.51 - 121.37
Class
Currencies
Bid/Ask
120.75/120.75
Symbol
EURJPY
Subclass / Sector
Minor
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Eurjpy
euro / japanese yen
120.892
jpy
+0.754 (+0.63%)
market open (feb 27 11:13 utc-5)
120.138
prev
120.138
open
562.375k
volume
119.951 — 121.027
day's range
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completely understand the essence of support and resistance trading strategy you should firstly know what a horizontal level is. Actually, it is a price level indicating either a support or resistance in the market. The support and resistance in technical analysis are the terms for price lows and highs respectively. The term support indicates the area on the chart where the buying interest is significantly strong and surpasses the selling pressure. It is usually marked by previous troughs. Resistance level,contrary to the support level, represents an area on the chart where sell- ing interest overcomes buying pressure. It is usually marked by previous peaks.
In case this is not so, for instance, if the support level comes down to the previous trough, it may signify that the uptrend is coming to the end or at least it is turning into a sideways trend. It is likely that trend reversal from up to down will occur. The opposite situation takes place in a downtrend; the failure of each support level to move lower than the previous trough may again signal changes in the existing trend.
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(Reuters) - Futures indicated that the Dow Jones Industrials index would shed more than 300 points at the open on Thursday after the rapid spread of the coronavirus outside China deepened worries about growth and corporate earnings.
The number of new infections in China, the source of the outbreak, was overtaken for the first time by fresh cases elsewhere on Wednesday, most notably in Italy and Iran.
Adding to worries, the U.S. Centers for Disease Control and Prevention confirmed an infection in California in a person who reportedly did not have relevant travel history or exposure to another known patient.
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Eurjpy
euro / japanese yen
120.937
jpy
+0.799 (+0.67%)
market open (feb 27 12:56 utc-5)
120.138
prev
120.138
open
653.521k
volume
119.951 — 121.042
day's range
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Dear i.forex members
EUR.JPY
On this Day i will predicted this pair have being bearish down direction.
the price is break Resistance and Trend Line and it is moving down side with having the long signal from the parabolic SAR.
the market trend could remain in this position and I expected support resistance levels.
A dot below the candles that indicates a downtrend direction
in addition to that we can see a SELL signal on the MACD indicator.
I suggest to take short terms position on SELL today.
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Today this pair of Market trends & technical Analysis justified for me.
TRENDING
1)Gator Osillator:BUY = (3)dEMARKER :BUY
2)Fractals :BUY = (4)Evelopes :BUY
EUR/JPY
Paraboloc SAR : BUY
The RSI is still on :BUY
StDev on BUY direction.
4hour time frame also telling these condtional exprations.
Indicator shows market going UP and technical Analysis same thing.
All technical and fandamantal follow the BUYing trends.
Note:Always Follow the making experienced with others having great knowledge about trading.
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Eur/jpy>>
pivot point :120.85
first resistance is on point : 120.97
second resistance is on point :121.10
third resistance is on point : 121.155
In my observation the profitable next selling point will be 121.00
and by my mind the profitable next buy point will be 118.80
I think thats the successful key points for selling and buying for this pairs.>>>
You will earn more money if you will follow my views,
because i have posted this after checking the previous routine of daily time frame of H1,H4 clearly.
note;simply moving on parabolic levels entry.>
