Establishing AB=CD Pattern on Daily Time Frame. ATOM is targeting 56-58 zone but it needs to break above 40 in order to accelerate its move. Fibo 0.382 acting as a major support.
Trading in a falling wedge pattern. It needs to break 10 and sustain above it in order to trigger higher targets around 11.40 initially followed by 12.0 and 13.3. On downside 9.2 and 8.8 are likely to restrict any fall.
Bullish Indicators: 1) HH HL 2) Upward trend 3) Bounce from lower ascending trendline. 4) Support zone at 1.16169 5) Bullish divergence on RSI Bearish Indicators: 1) Upper ascending trendline 2) Resistance zone at 1.16713 Plan A: Currently taking support from lower ascending trendline one can buy from here for the target of 1.16713 Plan B: On the breaking of...
The NZDJPY"s current upward surge was retraced from a strong resistance zone around 82.00. Sellers reacted and the price dropped. Now we are accepting there will be a corrective move towards 79.5.
Breaking out of Falling Wedge Pattern and Establishing targets towards 400 initially followed by 450. However any closing above 450 would open 500 - 530 as next upside. On downside 300 acting as strong support.
Moving in a converging triangle. It needs to break above 1.10 and hold that level to trigger a move towards 1.29 initially followed by 1.50. Immediate support is around 1.00 followed by 0.98.
AUD/USD’s rally has reached 0.7540 a strong resistance area. We would expect to see some seller's entry in this vicinity. We would allow for a small retracement towards 0.74250. And on the breaking of the parallel channel, there will be a further slide towards 0.73700.
EURCAD, the consolidation phase is almost over, and try to recover from a long bearish rally. Some good candlestick patterns show buyers' interest, so It can correct itself towards 1.4600 level.
The NZDJPY, in a shorter time frame moving in a parallel upward channel, now this long stretched rally shows some pullback sign. The near term support area is around 80.60
EURNZD, the downtrend seems to be correct itself and move towards fib level 38% around 1.63700. it is also breaking a trendline upward. So, a good pick for some quick gains.
The NZDJPY, in a shorter time frame moving in a parallel upward channel, now this long stretched rally shows some pullback sign. The near term support area is around 80.60
Bullish Indicators: 1) HH HL 2) Support zone 156.078 3) Upward trend Bearish Indicators: 1) Resistance zone at 158.213 2) Evening star on 4H 3) Bearish divergence on RSI Plan A: After forming evening star on 4H and the bearish divergence on RSI the pair looks like will move further downward towards 156.078 and then towards 154.800. Plan B: On contrary a bounce...
Bullish Indicators: 1) Support zone 1.06807 2) Hammer candlestick on daily Bearish Indicators: 1) Resistance zone 1.08602 Fib level 38.20% 2) Upward descending trendline 3) Downward trend Plan A: After forming hammer on daily its looks like the pair will move upward from here and can test the upward trendline and the resistance zone of 1.08602. Plan B: On the...
Establishing a bull flag formation. Its likely to retrace towards 11.70-11.30 before continuation of trend. Once Price breaks and sustains above 13 once more will trigger a move towards 14.90 followed by 17.50. However any closing below 11.30 would open 10.40 as next major support.
The AUDJPY touches 85.80, which is the highest level since May 2021. This level has attracted some sellers and the price is currently trading below this old high. If it stays below then it may drop to 84.40 support. A short position can initiate followed by 86.100 Stoploss.
The EURUSD trended higher from last week 1.16238. However, the pair stalled at 1.16687 at the 38.2% retracement level. The inability to break above keeps the sellers in control. Staying below the 1.1640 level would give the sellers even more confidence. If the price can get and stay above the 1.1640 level, the 38.2% retracement target still remains intact.
Potential Inverse H&S formation appearing over 12-H Time-Frame, signaling a change of trend soon for the coin. Price needs to break above the falling resistance in order to establish targets towards 1.15 followed by 1.25. However another rejection of the zone 0.87 would once again open a re-test of channel support around 0.70.
GBPUSD is largely capitalising on the dollar's recent weakness as it extends gains again after a breather yesterday. Buyers are keeping near-term control and eyeing the 1.3806 as the next key target currently where the confluence of a trendline and a major resistance lies. That will be a key test for the buyers' resolve in trying to gather more upside momentum and beyond.