The 200 EMA work very well on the FX:EURUSD longterm bearish market.
Buyers failled to breakout at the 1,12950 price, we go back on the shortterm range.
Support zone to watch : 1,11382
If the buyers could break the 1,12950 zone with 200 EMA too it could be a bullish signal.
What are you toughts about that ?
Sell stop placed at 1.16380 with Take profit at 1.16260 right above a critical support zone and Stop loss placed right above most recent successful resistance level at 1.16500. Based on the hourly timeframe a downtrend seems to be starting. I may have jumped the gun on this trend reversal but time will tell. Jumping in at the pullback.
USDJPY is trying to break above a bullish flag pattern, we can enter long targeting next resistance in anticipation of a continuation if it breaks.
If price breaks back into the flag channel, it may invalidate the trade and need reassessment.
The Gold chart looks almost completely symmetrical at the moment and may continue, bringing savvy traders some golden opportunities when paired with the current commodity bear trend.
Outside of that, look to significant support & resistance levels for entries and trade opportunities so you don't get chopped up in the middle.