Daily FX Training | Learn Forex with the Dynamic Traders: EUR Review

Good morning Dynamic Traders,

Hope you all had an awesome weekend. In the UK, it was Mothering Sunday, a great time to catch up with family and appreciate the silent heroes - it can never be done often enough!

Today I would like to review a couple of currency pairs I posted last week to check on progress.

The first one is the EURJPY posted on Tuesday, 16th March. The price at the time of the last post was 129.57, it has continued to climb up and is currently at 131.64. On the chart below I have pointed out 2 hurdles price faces before it can continue on its way up.

MACD last week was showing clear divergence, which although is still apparent, the indicator is somewhat following price action. How would I trade this? I will wait to see what price does by the end of today, if a BOB is produced along with my other confluences of events, I will employ my ESLT filters and place my orders for emotion free trading.

EURUSD
The Euro posted on March 18th was at 130.27 at the time of writing, broke through strong resistance and is now at 136.34. The question posed in most people's minds is "Has the trend changed?" and this was addressed by a post from Javid recently.

The Euro saw some massive moves last week and if the upward movement continues to hold then there are 3 near term things (highlighted on the chart below) that we need to watch out for: resistance at the value index, strong trendline support and the figure.