November 26, 2012

Daily Market Rhythm November 26

Daily Market Rhythm November 26

eurjpy forex market rhyhtm november 26

Right. The MACD shows a round top formation, after successful bullish move made by EURJPY. Is it ready to pullback?

The EURJPY already up for about 8 days without any significant pullback. Always remember the rhythm of the market: The price move, up or down. The pullback and the move on.

There is always possibility that the EURJPY will pulled back down to around EMA21, of course after breaking the nearest support around EMA 8. To short EURJPY is recommendable, as it found 107.00 too hard to break right now.

eurusd forex market rhythm philip nel method


The major currencies halt its energetic movement against the safe haven yen. EURUSD also hesitate to move forward.

With today's range of only around 40 pips compared to the average 90 pips lately, its clearly shows that the EURUSD is waiting for something. Will it reached the EMA 365, or pulled back down to EMA 21 just a few pips below the 1.2900 round figure?

It is advised to stay out for a while.

Trade well
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About ArrowFX

Technically analyze the forex market mainly on USDJPY, EURUSD and GBPUSD by using market rhythm method started by Philip Nel on Forex Factory. The thread started on 2007 and still alive.
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