"Trading Analysis: Can #EURJPY Reach 160.91 with Continuation Pattern?"

In this detailed analysis of the 4-hour chart, a clear continuation of the downtrend is evident through the pattern of consistently achieving lower lows and lower highs. This aspect, known as market structure, plays a crucial role in understanding the direction of price movements. By observing this trend, it becomes apparent that the market sentiment is currently bearish, with sellers exerting more pressure than buyers.

If this trend persists, the price is anticipated to target a specific level, which in this case is identified as 160.91. This target serves as a significant point of interest for traders and investors, as it represents a potential area where the price may find support or resistance based on historical data or other technical indicators.

Furthermore, analysing the market structure in this manner allows traders to make informed decisions regarding their positions. By recognizing the prevailing trend and key price levels, traders can implement appropriate risk management strategies and trading plans to capitalize on potential opportunities while minimizing risks.

Chris

Head Coach & Trader for over 30 years

GET FUNDED | Thetradingmentor#Forex and #Gold Specialists (thetradingmentors.com)