Free Forex Trade Signals EURJPY – 13th Sept 2019
EURJPY has kept going towards the North. The pair made a massive bullish move on the H4 chart yesterday. EUR Monetary Policy Statement and ECB Press Conference made the pair have massive move. The price came down and then went towards the upside again. The trend is with the bull still. Thus, we are going to look for buying opportunities on the pair. Let us have a look at the H4 EURJPY chart.
This trade idea was generated by our powerful Elite Swing Trader System.
The price went up to the level of 119.780 and had a rejection from there. Today’s first H4 candle came out as a bullish candle which was followed by a Spinning Top. Since the price action has been bullish, the price may continue to go towards the North and make an H4 breakout. If we get an H4 breakout, we shall wait for a pullback and an H1 bullish engulfing candle at the breakout level to take a long entry. Let us have a look at the summary of the trade…
- Buy Stop Order: 119.891
- Stop Loss: 119.550
- Take Profit: 120.785
Yesterday the EURO had two high impact news events. All the EURO pairs were volatile. During the first news event, the EURO came down and then went up at the second news event. Those two moves must have taken out many stop losses of retail traders. When we have such high impact news events, we may stop taking entry on related pairs before those events. We shall let the market get settled to take entries.
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