forex scalping 18 8 2015 European session
Difficult day today.
I have lost 2 scalps in the Frankfurt and London open so the third trade gave me the breakeven in eurjpy.
Made a video for the third trade which took my losses back and some profit from my last runner part.
The battlefield of eurjpy
Here is also a tip from SOGEN concerning audusd
AUD/USD: Weekly Hammer; EUR/USD: Persistence Within Triangle – SocGen
AUD/USD has formed a weekly hammer near 0.72 which represents 76.4% retracement of 2008-2011 up move, notes SocGen.
“It is at the upper limit of a descending channel since May and is facing immediate resistance at 0.7450. With daily RSI breaching above a resistance trend, a recovery is likely,” SocGen adds.
“A break above 0.7450 will mean a retest of recent lows at 0.7560/90 which remains pivotal for an extended rebound,” SocGen argues.
Turning to EUR/USD, SocGen notes that it has retraced after testing 34 week MA at 1.12.
“EUR/USD is forming a triangle after retracing from 1.1450/1.1536. Weekly RSI is below 50% graphical level which highlights persistence within triangle,” SocGen adds.
“Triangle upper limit at 1.1385/1.14 should provide strong resistance to a recovery while 1.0865/1.08 decides if retest of 1.05/1.04 happens,” SocGen projects.