Hy,
Could you please explain/help based on Cyclopip what the wording mean and from where do you get the values (what indicators are you using?) I am new on Forex
Weekly Watch: April 10 – 14, 2017 - EUR/JPY 1-hour Forex Chart
Cyclopip analysis: (Please see the chart on Weekly Watch: April 10 – 14, 2017)
" I got a potential double top breakout on my watchlist, so this descending triangle is an eye candy to me. Euro bulls are still losing ground with EUR/JPY popping up lower highs on the 1-hour chart. However, they’re still in control of the 117.50 support so it would be interesting to see how this pattern plays out.
A break above the trend line could push the pair all the way to the top WATR area near 119.00. Meanwhile, a downside breakout could drag the pair down to the 116.50 area of interest on the higher time frames.
WO: 117.62
Top WATR: 118.82
Bottom WATR: 116.26
PWH: 119.05
PWL: 117.32 "
Kind Regards
mariomv