This article will cover all you need to know to start trading the EUR/JPY and AUD USD currency pairs.
Because every second matters, get the currency live charts and forex day trading tips so that you can monitor your trade openings, closing goals and open up yourself for several forex trading currencies to maximize your profits. Forex analysis is used by retail forex day traders to determine buy or sell decisions on currency pairs. It can be technical in nature, using resources such as charting tools. It can also be fundamental in nature, using economic indicators or news-based events. For the signals of today, we are using indicators like RSI and CMO.
EUR JPY Forex trading tips
Monthly shows a target at 119.708 which is 117 pips down and another older target at 125.349, another 448 pips up. The rsi and cmo indicators both show this pair midway to reaching the buy zone but not quiet there yet. However they seem to be reaching a divergence which should indicate a bold and massive move should be coming up. Buy to gain 117 pips. Use small lot sizes for equity management. This will take a month to reach target if not a bit more so room in your trading account is needed for fluctuations of up and down and for the margin to survive and bring in the pips.
Weekly shows this pair with a target at 118.916 which is 189 pips down from it’s current position. The rsi and cmo are in midway trying to decide whether to head for the sell or buy zone. This will take longer than a week to realize but should eventually get to target. Sell to reach target and gain 189 pips. Remember to use small lot sizes keeping equity management in mind as this pair will fluctuate up and down on it’s way to target.
Hourly shows a target at 120.950 which is 19 pips up from where the currency is now. The rsi and cmo are still in midway position and appears to be headed towards the sell zone which should push the currency up to the target. Buy to reach 19 pips, remember to use an appropriate lot size for your account to accommodate for possible fluctuation on it’s way to target.
Monthly shows this pair with one target at 0.68359 which is 61 pips from it’s current location. The rsi and cmo indicators are skimming in the middle trying to make up it’s mind whether to go up or down. Sell to gain 61 pips remembering to use small lot sizes as this will take a month to get to target. You will need room in your account to accommodate this pair fluctuating up and down on it’s way to target, so give your margin room.
Weekly shows this pair has no target available, all targets have been hit. The rsi and cmo indicators are midway and appear to maybe diverge. If they do diverge then a massive move should occur. No trade is recommended for the weekly trade on this pair as all targets have been hit.
Hourly shows this pair with a target at 0.68306 which is 67 pips down. The rsi and cmo indicators appear just under the sell zone. Sell this pair to gain 67 pips. Keep your lot size within equity management to accommodate for fluctuation up and down while it moves toward target.
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