Daily Forex Chart Art - Jan. 8, 2016

Discussion in 'Technical Analysis' started by FXStreet_Team, Jan 8, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    EUR/JPY: 1-hour First one up for today is a simple Fib play on EUR/JPY. After hitting bottom at the 127.00 area, the pair has jumped and is now testing a 61.8% Fib retracement level. What makes this setup interesting is that the area also lines up nicely with the 128.50 minor psychological handle 100 SMA on the 1-hour chart. The cherry on top of the setup sundae is an overbought signal from Stochastic. Think we’ll see more losses for the euro? Whatever strategy you choose in trading this

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