ZARJPY is an exotic pair not so often traded by retail traders. In the coming week this is a pair we are looking to go long. On Thursday, the pair formed a pin bar, followed by a massive bullish candle on Friday.
In the coming week, the preference is to
Last week was the 4th consecutive week in which AUDJPY has been falling. However, it is interesting that the candle of last week of quite neutral, and it did so with high volume.
When we look at the daily timeframe, we can see that the volume kept on increasing day by
S&P 500, even though dipped as a result of the raising of tariffs to 25% on Chinese goods to USA, it shrugged off and rebounded on Friday and formed a hammer. Thursday's candle was also a hammer.
In addition to that, we can also notice the high volume on those two
AUDUSD tested the important support level of 0.700 on Thursday and and dipped even lower on Friday only to bounce from there and close much above, forming a bullish candle. This is a very bullish sign. In fact, if we look at the chart, we can observe a double bottom
Last week, as expected, EURUSD rallied as expected due to the weakness of USD. However, on Wednesday, the rally was halted and higher prices were rejected with a massive shooting star on Wednesday's close of the daily candle.
However, the move to the downside could not reach the previous low, and