I hope everyone has had time a relax and recuperate over the weekend.
Following on from Friday's economic impact to further downside likely caused by both a BOJ stimulus package and/or various EU countries issuing further lockdown talks Re Coronavirus, the overall trend looks bearish for now
However, there may be room for some short term trades in a Long position based on D1 Price rejection from support and oversold Stochastics most of last week, and i have set my target points of interest in Blue, aiming for around the 50 SMA or 129.725 initially with the hope of continuing through to 130.094 before further analysis.
It should be noted that there is also price rejection on the W1 chart, so the potential for a reversal should not be ruled out.
Let's see what the week brings. and best of luck.
Following on from Friday's economic impact to further downside likely caused by both a BOJ stimulus package and/or various EU countries issuing further lockdown talks Re Coronavirus, the overall trend looks bearish for now
However, there may be room for some short term trades in a Long position based on D1 Price rejection from support and oversold Stochastics most of last week, and i have set my target points of interest in Blue, aiming for around the 50 SMA or 129.725 initially with the hope of continuing through to 130.094 before further analysis.
It should be noted that there is also price rejection on the W1 chart, so the potential for a reversal should not be ruled out.
Let's see what the week brings. and best of luck.