Today’s “Technical Tuesday” Analysis Session (October 15, 2019) for both the EUR/USD and USD/JPY currency pairs is currently available for viewing.
In today’s session, we disclosed a nice potential buy opportunity on EUR/USD between the 1.0990/1.1000 zone. Price has soared higher since the session due to Brexit related news. Although this is the case, there is a possibility that we may not see the major expansion or extension higher in price that some analysts and traders are expecting. We discussed the reason why in today’s session.
We also discussed our medium term bias in USD/JPY and how far the buck will rally in comparison to the Yen. Both majors are poised for a significant breakout in favor of the dollar, and we revealed 2 different ways you can consider trading the breakout in USD/JPY. Current price action is offering clarity, and technical clues on how to trade these minor setups in both pairs, and which approach we will take. The Brexit related news released after the “Technical Tuesday” session has given us a distinct outlook on the sessional bias for the dollar and how to trade EUR/USD and USD/JPY .
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Marvin Perry has been an active trader within the Forex market since 2010. He attended the University of Illinois in Urbana/Champaign, and graduated in 2002 with a double major in Cell and Structural Biology and Chemistry. He currently serves as an FX instructor & Quantitative Analyst for the Forex Anatomy Private Trading Community called "The Lab", where he conducts live weekly trading webinars & instruction on Fundamental Analysis & Inter-Market Interpretations of dynamic asset classes and their influence on currencies.