Hi All,
SGDJPY pair will be 91.300 as on 2/Feb/2015.
Chart 1 is based on daily time frame.
Chart 2 is based on weekly time frame.
From chart 2 on weekly time frame. Bearish divergence can be identified signaling immediate bearish trend for SGDJPY. CCI (14) indicator is making LOWER highs while prices are completing HIGHER highs.This provides evidence for bearish divergence.
I immediately foresee a minor bearish trend.
Chart 1 shows that price action had touched 23.6% Fibonacci Retracement level …
SGDJPY pair will be 91.300 as on 2/Feb/2015.
Chart 1 is based on daily time frame.
Chart 2 is based on weekly time frame.
From chart 2 on weekly time frame. Bearish divergence can be identified signaling immediate bearish trend for SGDJPY. CCI (14) indicator is making LOWER highs while prices are completing HIGHER highs.This provides evidence for bearish divergence.
I immediately foresee a minor bearish trend.
Chart 1 shows that price action had touched 23.6% Fibonacci Retracement level …