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  • Vasily Trader

MarketBreakdown | EURUSD, USDJPY, EURJPY, SILVER (XAGUSD)



Hey traders,

here is a brief technical outlook of 4 peculiar instruments in my watch list.


1️⃣ EURUSD - Daily time frame


Important decision is ahead!

The price touched a year's low yesterday.

1.1523 - 1.153 is a major support level .


In case of its bearish breakout a further decline will be expected.

Consider a breakout trade for shorting.


For buying, wait for a confirmation on a lower time frame to catch a pullback.

F.ex watch a double bottom formation on hourly.


2️⃣ USDJPY - Daily time frame


The market has recently reached a key weekly resistance level .

On that I see bearish accumulation signs:

the price set multiple lower highs respecting the same lows.

It looks like the pair is forming a descending triangle formation.

Wait for its support breakout as a signal to short.


3️⃣ EURJPY - 3 days time frame


The pair is steadily falling.

Ahead is a strong support cluster.

To catch a bullish continuation wait for a touch of 130.4 - 130.7 area,

then wait for a confirmation to buy.


Your confirmation might be a bullish flag breakout on 4H.


4️⃣ Silver ( XAGUSD ) - Daily time frame


Silver has recently bounced from a key level.

Taking into consideration that the market is trading in a bullish trend since the end of September

I expect a bullish continuation to the closest major resistance.

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