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Published on Oct 27, 2016
The
USD/JPY pair initially fell during the day on Thursday, but found
enough support yet again to continue going higher. However, what was
different about Thursday is that we broke out above the 105 level which
has been so resistive. The candle started to close towards the upper
part of the range, which of course is bullish as well. A break above the
top of the candle would be very positive, and it should send the market
looking for the 107 level. Pullbacks at this point in time should be
thought of as value, and therefore buyers will more than likely reenter
this market again and again. I see the 103 level below as massively
supportive, and with that being the case it’s likely that the market
will continue to grind its way to the upside, although it could be a
little bit volatile.
DailyForex
DailyForex
Published on Oct 27, 2016
The
EUR/USD pair initially tried to rally during the course of the day on
Thursday, but turned around to form a bit of a shooting star. Because of
this, the market looks as if it is ready to continue to go lower. The
1.0850 level below should continue to be rather supportive, but I do
believe that we will break below there given enough time. Any rally at
this point in time will more than likely offer selling opportunities
based upon the exhaustion above, that we have seen time and time again. I
think that the 1.10 level above is massively resistive, and I do think
that we eventually go down to the 1.05 level given enough time. With
this, I sell rallies again and again, but I do recognize that we will
probably have quite a bit of volatility.
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