EURCAD Hits Targets: EURJPY Still In Focus
Thurs 9th November 2023 : Daily Forex Price Action
Today we’re looking at Trading Setups in:
- EURJPY (Primary Focus Pair)
- EURCAD (Covered In Video)
- GBPJPY (Covered In Video)
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Our Interest (pending order)/Open Interest (live position)
We featured EURJPY in yesterday’s video and identified a long idea that formed after the price traded above the H1 50MA – That position is +57 Pips in profit at time of writing this post.
EUR is S1 on our live forex strength vs weakness tables, JPY is W1 on the trend traders table.
A long position we posted yesterday is still open, but there may be opportunities to add into the trend.
Price on the M30 time frame is testing the 50 moving average, if price can remain above this we could see a continuation of the trend.
The H1 time frame shows price forming a minor support at 161.50.
Targets for this trade remains the same as we expect price to reach the key monthly level of resistance at 168.50
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