NZDUSD interim uptrend seems to be imminent upon the flurry of bullish candles and chart patterns as emphasized below.
The intermediary bullish trend and the consolidation phase spikes through the uptrend line (refer both daily and monthly plotting).
The pair forms hammer patterns at the uptrend line, to be precise, 0.6520, 0.6691 levels on the daily chart and...
Major support -147.40
GBPJPY is trading weak for second consecutive day and lost more than 120 pips from high 148.38 on account of Brexit uncertainty. It hits low of 147.01 and is currently trading around 147.58.
On the lower side, near term support is around 146.85-147 and any break below confirms minor weakness and a decline till 146.45 (200- H MA)/146.25 is...
USD/CHF short setup as bears make traction in the major consolidation phase after breach below double top neckline in minor trend:
USDCHF bulls in minor trend seem to be sliding further after breaching below double top neckline & strong support of 1.0035 levels (refer daily charts).
Consequently, the current price constantly slid below 7DMA, for now, the...
EUR/USD upside traction only upon break-out above channel resistance, major downtrend prolongs below 7-EMAs:
EURUSD minor trend travels through the sloping channel, hammer occurs at channel support (refer daily chart). Consequently, The price rallies are back in form from 2ndweek of March, having cushioned at channel support rallies took-off above DMAs.
Major resistance- 2820
S&P500 recovered slightly after a forming a top around 2821 on positive Brexit news.The index was trading higher nearly 2-1/2 month and jumped more than 20% from low of 2334 on easing US--China trade tensions and increasing risk appetite. It hits low of 2720 Mar 08th 2019 and is currently trading around 2820.3.
The index’s near term...
USDCHF continues to trade lower for 4th consecutive day after forming a temporary top around 1.01242 on Mar 7th 2019. The decline was mainly due to broad based selling in US dollar .US dollar index has lost more than 100 pips after hitting high of 97.71 almost a double top. The pair hits low of 1.00181 and is currently trading around 1.0227.
On the higher side,...
The pair failed to gather upside momentum, has slipped back lower. We see Doji formation on the daily candle till now.
The pair finds major support at 1.1344 (converged 55-EMA and 38.2% Fib). Break below will see further weakness.
Scope then for test of lower BB at 1.1316. Next major support lies at 61.8% Fib at 1.1282.
Focus now on final reading of February...
AUDJPY bulls, in the minor trend, have been gaining traction, attempt to bounce back as the pair breaks-out resistance of 21-DMA levels. For now, the current price remains well above DMAs but attempting to head for yet another resistance of 79.102 levels, further rallies seem to be most likely as both RSI and stochastic indicates the buying momentum.
AUD/CAD rejected at 110-EMA and capped below daily cloud.
Recovery attempts in the pair have been capped below 21-EMA.
Scope for test of 61.8% Fib at 0.9360 on continued bearish momentum.
Retrace above 21-EMA could see minor upside. Bearish invalidation only above 110-EMA.
Support levels - 0.9378 (Feb 7 low), 0.9360 (61.8% Fib), 0.9335 (trendline)
EURJPY has shown considerable price rallies upon below-mentioned patterns, the uptrend likely to extend for today.
Technical chart and candlestick patterns formed: Hammer candles pop-up at 122.663 and 124.601 levels on daily and monthly plotting, and dragonfly doji coupled with a resembling morning star pattern at 124.861 levels on daily terms.
The 10-year UST yield continues to recover from over 3-month lows below 2.6 percent hit earlier this week, supporting the USD.
Technical studies on intraday charts are turning slightly bullish.
Price action is probing 200-hour SMA resistance at 111.51, breakout could see further gains.
RSI is above 50 and Stochs are at oversold levels which keep scope for...
GBP/USD edges lower from monthly highs at 1.3288.
The pair has formed a 'Bullish Engulfing' candlestick pattern on the daily charts raising scope for upside.
Price action has retraced a brief dip below 200-DMA which is strong support at 1.2988.
RSI is above 50, bias higher. Momentum studies are bullish. MACD is on verge of bullish crossover on signal line.
Gold edged lower on Monday's trade amid improved risk sentiment after fresh US-China trade talks.
However, price failed to break below 5-DMA support. 5-DMA is upward sloping and is offering strong support.
The pair is trading in the green in the European session. Weakness in the US dollar likely supporting price.
Technical indicators on the hourly charts have...
Momentum with the bulls. RSI has edged above 50 and Stochs have rolled over from oversold levels.
Strong support seen at 20-DMA at 0.6827. Trendline resistance at 0.6880 in sight ahead of 0.6925.
Retrace below 20-DMA can see dip till daily cloud. Bearish invalidation likely below 200-DMA.
Focus will be on monthly inflation figures from the US.
Support levels -...
GBP/JPY display engulfing – Bid DT calls as bulls ride on inverted head and shoulder, hammer, uphold directional hedge:
Technical analysis (chart and candlestick patterns occurred): GBPJPY has been in consolidation phase of-late on both minor and major trend.
Well, on daily plotting, Inverted head & shoulder, hammer and engulfing formations are traced out that...