EUR-JPY is Facing Correction Stage, Waiting for Next Signal of Buying Stance

EUR-JPY, in general, has entered a mature trend area, even for certain times it is already in an overbought condition. The short-term trend is bullish. It can be said that the conditions for holding back buy must be taken seriously.

But don’t rush to sell. See also analysis for longer-term trends. For your information, the medium-term trend is neutral, according to our internal technical team. Even though it seems that the stochastic is over-bought, the MACI is over-bought, please remember that the area above level 80 means a strong bullish trend as well.

We see that consolidation conditions are taking place. This means that there may be a correction, but we see that the corrections that occur are limited. Short-term players may be interested in releasing some of their positions as profit-taking actions. You can also buy short to quote a few pips, but we tend to think that the trend will still rise again.

The conclusion we can take, we will still hold long positions for a few moments and see if there will be another resistance break-out. Since the breakout of 122.75, the EUR-JPY currency pair was evolving in a relatively neutral short-term trend, but the recent rise in the Euro currency pairs has allowed the currency pair to reach the target of the medium-term trend that has become bullish recently. In the case of a break-up, the trend and turnaround could be confirmed.

Our suggestion is to watch if the RSI line can break 70 level line trough from above. If it doesn’t so, then buying stance is confirmed. Remember as well that Stoch-osc sometimes stays above 80 level for several days meaning that strong bullish condition is taking place.

Resistance: 127.54
Next resistance: 136.00

Gold is Signaling Buy (wait on Short Sell) in Uptrend Market

Our analysis of the 4H Gold chart shows that there is still a chance of an expanding long term trend (uptrend). Despite of that possibility, in the short term it appears that there is a tendency for prices to fall.

A reading of the Stochastic Oscillator marker demonstrates a decent quality among purchase and sell. Stoch-Os is starting to rise again in the lower part of the indicator windows. The same thing is indicated by the RSI indicator. The line is touching the lower level and make a move above. This is also confirmed by the MACD indicator which indicates that the signal is still in neutral condition. Even the histogram is still below the zero level, it is not quite far from the level and remember that the leght of the histogram is shorter from some periods before.

In our conclusion, overall Gold is trending up, and the previous breakout of 1261.80 has been confirmed as this level is now support. Despite a new high point of short-term trend, the return of the ounce of gold on this support sends a possible neutralization of the global trend. However, a bearish break in this support could signal a downward trend.


Gold expected to rise after short fallThis is a kind of tricky situation when thader should always aware. Our advice for trading Gold, traders should be cautious about the limited decline in gold prices. Given the possibility of a trend price increase, we recommend a TP that is not too large. Open buy position when it start to rise near the support level.

Support: $ 1261.80

Next support: $ 1246