Today this trendline broke really fast, while I was eating lunch. I thought the euro was probably going to bounce off this line, and so I had set my stops too high.

Oh well. To look on the brightside, I'm back to square one which means all I've lost is two days in the trader contest.

After such a rapid rise there should be a period of consolidation, but the longer term analysis is that the price should rise back up towards the orange trendline, with the first level of resistance at around 1.18 (or within the 1.175-1.85 zone).

Yesterday I predicted that USD/JPY could drop down to 116. While there was a drop (the profits from which went at least part way to cancelling the losses from EUR/USD) it has since regained its previous values. This stability, in spite of a broken trendline and bearish indicators, is a longer-term bullish sign.

Soon, there might be a spectacular rise in EUR/JPY
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