In tricky economic environments, many investors tend to turn to alternative forms of investment, such as Forex trading, or the purchase of precious metals. To some extent, such forms of investment operate in much the same way as ordinary stocks and bonds - investors attempt to read economic trends in a way that can give them insight into when to buy and sell products.
USD/JPY approaching very round, 85.00 level. At the same time, and Moving Average (200) on Weekly chart. MA (200) is at 84.93 at the moment. These two could be considered as strong resistance. We would look for any other confirmation, such as bearish candle formation or else bearish.
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This cross has just too much pressure to the downside. The massive line which could mean upside potential is 85.00. Current 2 Sell positions are at 79.60, resistance and doji candle are the reasons. TP and contemplation of Buy orders waiting at 78.25. Price below 76.00 - risk for further downside.
It is obviously clear that EUR/USD is under the pressure for months. Besides, no positive signs on the fundamentals. Opened 2 Sell positions at resistance at 1.3100, falling star (black arrow). How we can see, had some movement up, but now falling down for the 5 straight days. TP1 - 200 pips, TP2 - 1.2600.
Here is our current view on USD/CHF Daily chart. As you can see, we have 4 Sell positions and obviously in a loss and now trying to manage it as better as we can. Last post about USD/CHF here where we opened first two positions at 0.8900. Cross went straight upwards but we did not closed on loss.
Why Forex trading is so popular around the world? There is no owner of the Forex. It did get popular by himself. It attracts potencial traders and investors for high profit possibilities. Besides, it carries a high level of risk. However, Forex is very attractive for home-based workers, small speculators, investors with a business degree background, investment funds, financial institutions.