Forum Replies Created
-
USDJPY 4 HOUR CHART – CONSOLIDATION?
With Goldman raising its 3-month USDJPY forecast (see prior post), let’s take a look at a 4-hour USDJPY chart.
With 151.90 remaining the major resistance (shown on a daily chart), currently protected by 1.5181-86, the current range is consolidating between 150/152, with 151 acting as a neutral midpoint.
The key support is at 150.26. above it keeps 151.90 in play, a stronger risk if 151.00 can become support.
The reason that I looked at the range as consolidation is that the upcoming week is not a normal one
Pre-Easter week and a 4-day long weekend break
A week normally dominated by position adjustment rather than aggressive positioning
Light economic calendar, highlight Friday’s US PCE report
Month/quarter end for many on Thursday with markets closed on Friday-Monday
The actual quarter end is Friday
EURUSD 15 Minute Chart
Look at this chart and then Click on the following to see Why I love Repeat Trades
And then scroll down to see my earlier EURUSD updates
NAS100 DAILY CHART
When looking at CFDs, remember that different brokers quote different symbols (e.g. NDX00 vs NAS00) and even with the same symbols there can be different price feeds between brokers,
So, look at the chart pattern on this chart rather than the price level as the red line needs to hold after another high yesterday to give a whiff that the retreat could turn into a deeper retracement.
‘
