AUDUSD

Throughout the day market continued its dynamic growth triggered by yesterday’s conference of Donald Trump. Currently we are in area of extremely important resistance 0.7525 which  rejected could trigger declines. Given the dynamics of the recent increases its hard to expect continuation of the ongoing from November declines, but the potential downward correction could reach even in the vicinity of local support coinciding with the measuring 38.2% Fibonacci correction.

AUDUSD H4
AUDUSD H4

USDJPY

Today market overcame the support level around 114.80. Given ongoing since yesterday, dynamic weakening of the US dollar, we could expect further declines. If these will continue in the near future we can expect even test of neighborhood of level111.70.

USDJPY H4
USDJPY H4

 

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Dargo
Since 2010, he has been actively involved in the Forex market up to now. He is a supporter of Price Action and using as few indicators as possible. He believes that the simplicity of the system and consistency in its application is the best way to success in financial markets, and lack of patience is the most frequent cause of failure. Interested in classical systems based on Technical Analysis and in psychology - mechanisms that guide human behavior and conditioning decision making in trading.