Daily Market Update: EURUSD & USDJPY – Dec 11TH, 2024
NOTE: This market newsletter is based on analysis conducted using the daily chart timeframe. Each market discussed is accompanied by a corresponding price chart for clarity and reference.
EURUSD: Selling On Retracement Higher To Within The Range Of Bearish Pin Bar Signal
Comments: Price moved lower from the recent Bearish Pin Bar Signal that had formed just below the 1.0610 short-term resistance level on Friday, Dec 6th (We suggested selling on a retracement higher into the range of this signal in the Dec 10th weekly newsletter and hopefully some traders got onboard).
Potential Trade Signal: We are looking to sell on a retracement higher to within the range of the recent Bearish Pin Bar Signal that had formed on Dec 6th.
Sell Limit: 1.0585 – This Trade is Active. Limit Orders were filled
Stop Loss: 1.0649
Take Profit: 1.0457
To Trade This Market With Our Preferred Broker, CLICK HERE
USDJPY: Buying On Retracement Lower & After Price Action Signal At Or Above 148.64 Support Level
Comments: Price recently moved higher from the 148.64 short-term support level.
Potential Trade Signal: We are looking to buy on a retracement lower and after a price action buy signal, at or just above the 148.64 short-term support level.
To Trade This Market With Our Preferred Broker, CLICK HERE
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Disclaimer: The risk of loss in trading financial market products, like Cryptocurrencies can be substantial. You should therefore carefully consider whether such trading is suitable for you in light of your financial condition. Any content posted here should not be considered financial or Trading advice, this newsletter is just for information purposes and is just the author’s opinion.
