Let’s go Tuesday presents us with EUR/JPY & EUR/AUD

Good day everyone,

Another week is upon us, another target to hit, another mark to tick.

Let’s see what the charts has for us.

 

 

1. EUR/JPY

EUR vs JPY

On the daily chart, EUR/JPY is bullish.

On the 4 hour chart, we can see a breakout of resistance level 125.539. If the breakout is maintained by the 6 pm candlestick, we may see 126.050 as the next possible resistance level.

If the 6 pm candlestick closes as a bearish engulfing pattern, there is a little tendency of the bulls taking price to resistance level 126.050.

 

 

2. EUR/AUD

EUR vs AUD

On the 4 hours chart of the EUR/AUD, the 2pm candlestick closed by confirming a bearish reversal.

If you are interested in selling the EUR/AUD, you may need to wait for a slight pullback before getting in, in order to get a decent 1:1 risk/reward ratio.

 

Today’s setups are pretty much straight forward. Sometimes the market makes things a little easier for us traders.

Wishing you all a great week ahead.

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