Analysis of SGDJPY 18.02.2020

Analysis of SGDJPY 18.02.2020

Written by: PaxForex analytics dept - Tuesday, 18 February 2020 0 comments

The price is below the moving average of 20 MA and MA 200, indicating the downward trend. 
MACD is below the zero levels.
The oscillator Force Index is below the zero levels.

If the level of support is broken, you shall follow the recommendations below:
• Timeframe: H4
• Recommendation: Short Position
• Entry Level: Short Position 78.60
• Take Profit Level: 77.50 (110 pips)

If the price rebound from the support level, you shall follow the recommendations below:
• Timeframe: H4
• Recommendation: Long Position
• Entry Level: Long Position 79.10
• Take Profit Level: 79.50 (40 pips)


GOLD
A possible long position at the breakout of the level 1590.00

USDJPY
A possible long position at the breakout of the level 109.90

EURUSD
A possible short position in the breakdown of the level 1.0820

GBPUSD
A possible short position in the breakdown of the level 1.2970