The following is the EURJPY daily chart as of Nov 29, 2009. Observe the chart there is a strong resistance the bottom of the chart at which a candlestick with a long tail and a small body is formed. This is a reversal signal. Also the CCI indicator is currently below -100 which is in oversold region. I think this is a very good opprotunity to buy this currency pair what do you guys say?
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EURJPY possible trading opportunity in daily chart
The currency pair is bouncing back from the resistance line and a candlestick with long tail and a small body is formed. Moreover CCI is in oversold region.
After I made the abover post, I observed it clearly. EURJPY daily chart is actually going with in trend lines. Check the following picture.
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