Pair has fallen last week and is resting dead smacked on the 38.2% Fib level after hitting the 1.34 price level. Bears came in big time at that level. Stochastics and RSI are at the oversold level. There is a potential for a bounce up but I don't want to be picking bottoms here. So I am neutral on this pair on the Daily time frame. LIKE my fan page at...
I am neutral on this pair. The pair has traded above a downtrend line but last week, came back in! On top of that we have stochastics pointing down. So I am hard fetched to call a long on this pair. MACD though is neutral, going sideways but above the zero line. My take on this pair is that it might go down a little more before the bulls might come in. For...
I am neutral on this pair. The pair has traded above a downtrend line but last week, came back in! On top of that we have stochastics pointing down. So I am hard fetched to call a long on this pair. MACD though is neutral, going sideways but above the zero line. My take on this pair is that it might go down a little more before the bulls might come in. For...
Pair has broken above the down trend line and many are expecting this pair to remain buoyant next week. Stochastics is at a high and doesn't really help much if you are thinking of going long. RSI is hitting the top part of the channel and might indicate some retracement in the pair before any further up moves. For daily technical analysis on majors, do proceed...
A basing pattern is spotted on the weekly time frame. Stochastics and RSI is also pointing up. There is a lot of potential for this pair to go upwards and upside target is at 0.94. For daily technical analysis on majors, do proceed to LIKE my fan page at facebook.com/forexachievers Below 0.889, we might see the bears gaining control again. For daily updates of...
Last week, we saw the pair retraced and made a low before bouncing back up, in tandem with the idea we had using Elliot wave theory. We are at wave 5 and we are expecting the pair to extend up next week. For daily updates, visit facebook.com/forexachievers
Looking at the weekly chart, the pair has tested the down trend line it broke out from and has closed with a green candle. I see a potential for bullish continuation here and a possible price target of 1.575 price target, much consistent with my earlier analysis. For daily updates, visit facebook.com/forexachievers
Pair sideways and going along between 0.91 and 0.93. 92.57, the 23.6 Fib level can be expected to be protected by the bears as above that we might see the pair at 0.95. Stochastics is in the overbought level and there is risk for the bulls here. RSI is trending up but is seen at near its upper trend line level. This can be an indication that the pair might go...
On the weekly chart, we can see that the weekly candle is a doji. This shows indecision and we might see the pair going lower this week back to 0.90 before a possible rebound back up. Stochastics is in oversold region and the RSI shows the pair trying to recover from lows. I am still bearish on this pair and view any up move as a retracement with 0.937 (23.6%...
It seems that this pair is having some problems passing through the resistance level at the 61.8% Fibo level. If the bulls manage to continue the up move, we can expect the pair targeting 1.34 before the 76.4% Fib level at 1.34806. As long as the pair doesn't fall back below the down trend line, we can expect more bullish moves. Below 1.32 and we might need to...
The pair is now dead smack on the resistance level at around 1.334. On a bullish note, its seems that it has broken above the minor down trend line marked in red and last weeks candle close looks bullish with a pin tail above the red minor down trend line. If the bulls decide to push this higher, we might see it reaching at least the 50% Fib level at 1.34718 and...
The pair is in its 5th wave extension. I believe that the pair will find resistance when it reaches the 1.57 region. It is now trying to reach that level but is facing some resistance as it is dead smack at the top part of the trend line. A correction lower is still possible here and we can see the pair retracing back to the bottom of the trend line channel before...
Bullish continuation towards 1.575 likely after a break above the down trend channel. That level is also the 61.8% Fibonacci level. Upon reaching that level, we might see the bears coming in to test the bulls resolve. For daily updates, visit facebook.com/forexachievers
GBPUSD - On the daily TF, I see this pair going lower to test 1.54 resistance turned support level before upwards continuation to test upside at 1.57. Look out for any bullish price action at the said level. So hold your ammunition and wait for a better time to enter long. However, if the 1.54 level breaks decisively, we would have to reanalyze the chart...
GBPUSD - Pair tested the downtrend line and we see a reaction there to end the pair still in green though at the end of the week. The 15ema is moving sideways although the pair is above the 15ema. Next week, GBPUSD might test the upside again and the stochastic looks like it is supporting an up move at the moment. On the upside, the pair has the potential to...
EURUSD Daily TF - I am neutral on this pair. The sideways movement is clear on this chart. The pair broke through the down trend line and managed to hold above it for 2 days in green and ended the week with a red bar. We might see this pair going lower to test the trend line it broke out from before a potential move to the upside. Upside target is 76.4 Fib level...
EURUSD - The pair on the weekly TF is seen going sideways. We do not see a defined trend in this pair on this TF. We are consolidating within a triangle which is within a larger triangle. The last 5 weeks have seen bullish movement for this pair. It is now clearly above the minor downtrend line that I have drawn. It closed exactly at resistance level seen at...