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A Retest of 1.30 Level Expected

  • Jan 29
    During this week trading session, market speculators would be expecting a
    further drop extension as we see a visible bearish pattern formation of
    a heads and shoulder with a confirmed test of the neckline and during
    the Monday trading session, market participants, are once again looking
    to retest the neckline range.To get more news about WikiFX, you can visit wikifx official website.

      Price structure is trading below the 50 day moving average as market
    speculators are targeting the 1.30 and 1.2965 price handle level will be
    looking at the band to hold on as dynamic resistance line and also as a
    focal confluence area or zone for trade setup for sell orders or limits
    since if any unexpected bullish drive past this technical confluence
    then, it would be considered a change of market sentiment.

      The H4 chart below offers a good entry probability as market
    participants look at last Fridays trading session high and the hour four
    200 moving average band being a confluence order block zone.

    Jasper Njuguna is a self-taught discretionary financial markets trader.
    With cumulative 5 years experience trading the markets and out of which,
    one and a half years of that as a prop trader, trading large and
    mid-cap American equities at one of the DAY TRADE THE WORLD offices.

      Prior to switching career interest to trading, I have 9 years of
    experience in senior management roles driving small to large business
    development and B2B relations in creating and implementing; learning
    & development solutions, programs, organizational strategies &
    frameworks, and blended learning approaches for companies and
    institutions in Africa.