Weekly Price Action Setups & Key Levels | Oct 15-20

merck price action analysis 2ndskiesforex

My Current Active Open Trades: EURCHF, CHFJPY, EURRUB, FTS, TRP, REMX, XHB, FXo EURJPY, FXo EURPLN

EURJPY – Deeper Retracement Expected Before Possible Continuation (Daily chart)
The EURJPY has been trading within a well-established bull-trend since May this year.

ST we’ve seen a failed breakout of the ST corrective structure which then was immediately followed by 2 days of strong selling.

This to me suggests that the ST structure might fail to hold and I think we’re possibly looking at a deeper retracement into MT support around 130.60 where likely a fresh group of bulls will be waiting to enter the arena.

In order to advance further north, bulls will first have to clear 134.40 to open up for potential …

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