EURJPY inverse head and shoulder

9 juni 2019Pattern is nice but lacks divergence on indicators but fundamentals are in line after the weekend. It is bouncing of a major weekly trend line (you can see in the comments). Expected to make it to MPO but long term ECB will not let euro get too expensive as it would be devastating to the economy. Recent comments from ECB suggest even further dovish outlook on rates possible if EU economy stagnates below 0.4% that it grew from the start of the year.

9 juni 2019

Kommentera

9 juni 2019

Kommentera

Major level tested again, long term looks like it is gearing up for a break but first a retest of the MPO level at 123.70.