EURJPY ANALYSIS SMART MONEY
DAILY :
The price for the past 2 weeks has been bullish.
However, in the last 4 days, we have seen a bearish tendency to test support. Even after closing today with a bullish engulfing, the price didn´t break the last higher high of the last week.
4H TIMEFRAME :
As you can see, the price has reached the resistance of the channel. However, we can see a tendency to form a douple top. For this case, I designed the 2 most likely cases to be verified:
1st case--> We can have the formation of a double top with the price drop to the bottom of the channel.
2nd case-->We can have the impulsive price rise in order to break the resistance of the channel and thus continue its bullsih trend.
Simple as this. Trade carefully and Good luck for this week !
The price for the past 2 weeks has been bullish.
However, in the last 4 days, we have seen a bearish tendency to test support. Even after closing today with a bullish engulfing, the price didn´t break the last higher high of the last week.
4H TIMEFRAME :
As you can see, the price has reached the resistance of the channel. However, we can see a tendency to form a douple top. For this case, I designed the 2 most likely cases to be verified:
1st case--> We can have the formation of a double top with the price drop to the bottom of the channel.
2nd case-->We can have the impulsive price rise in order to break the resistance of the channel and thus continue its bullsih trend.
Simple as this. Trade carefully and Good luck for this week !
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