For the start, i will only talk about 2 pairs in forex. Those 2 pairs would be eur/usd and gbp/yen. I always feel eur/usd is for everyone and gbp/yen is only for those who have strong hearts.
Eur/Usd – Looking at the chart, i can only see eu is at short, but i cant say for exact how low it can move but for certainly there is no signs of showing long at the moment. I mean no strong signs of long, not a confirmed one. All my mas are looking in place but i would not dare to place any position in eu for the time being. Too risky. If you are placing for short, make sure u have your stop loss in place because at the current position its more like in Vegas. You will be betting your luck.
puvanSays —> stay out for now
Gbp/Yen – I see the same for gj. I dont see any signs of long yet. I have never seen gj this low before in the last 3 years. If you look at the chart, the last gj at this number was in 2001. But history does not mean anything to me. For the time being gj is still at short and its a risky position. If you are planning to enter a short in gj, make sure you jump with your stop loss too. gj is now out of its norm movement.
puvanSays —> stay out for now
