EURUSD Bearish or Bullish Expert Chart Analysis & Trading Plans!
EURJPY Market Trend Analysis Bullish Breakout or Bearish Reversal
EURJPY Market Trend Analysis Bullish Breakout or Bearish Reversal
EURJPY Market Trend Analysis: Bullish Breakout or Bearish Reversal?
K Karthik Raja (Market Educator & Technical Analyst)
MCA | MBA | M.Com | MSc Psychology | PGJMC | CST | MDAT | CFA Pursuant
Chart Pattern Analysis
- The chart shows an uptrend with higher highs and higher lows, confirming bullish momentum.
- Moving averages are aligned in an upward direction, supporting the trend continuation.
- A recent breakout above previous resistance suggests strong buying pressure.
- Bollinger Bands show expansion, indicating increased volatility.
Dow Theory
- Primary trend: Bullish (higher highs and higher lows).
- Secondary trend: Temporary pullbacks but staying within the uptrend.
- Minor trend: Small retracements offering buying opportunities in pullbacks.
Upcoming Events Impacting Price Action
- Look for economic data releases (inflation, interest rates, GDP).
- Earnings reports or central bank decisions may impact volatility.
- Geopolitical or macroeconomic developments may influence trend continuation.
Volume Analysis
- Increasing volume on upward moves confirms strength in the uptrend.
- Lower volume on pullbacks suggests weak selling pressure, supporting continuation.
- Recent volume spike indicates a strong breakout, validating a bullish move.
Trading Strategy
Breakout Strategy (Bullish)
- Entry: Above 162.70 | Stop-loss: Below 161.90.
- Target 1: 163.50 | Target 2: 164.80 | Target 3: 166.50.
Breakdown Strategy (Bearish)
- Entry: Below 161.40 | Stop-loss: Above 162.20.
- Target 1: 160.60 | Target 2: 159.80 | Target 3: 158.50.
Final Takeaway
- The trend remains bullish, but caution is needed if price reverses below key support levels.
- Breakout traders should enter after a confirmed retest of the breakout level.
- Bearish traders should wait for a breakdown below support before entering short positions.
- Momentum indicators (RSI near 59, momentum near 99) suggest further upside potential but monitor for overbought conditions.
Disclaimer
This analysis is for educational and informational purposes only. It does not constitute financial advice. Always consult a professional before making investment decisions.
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