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Chart pattern- Flag
USDCHF has broken major Flag pattern resistance 0.99200 after a long consolidation. The pair was trading between 0.99553 and 0.98478 for past one week. It hits high of 0.99593 and is currently trading around 0.99371.
The near term resistance is around 0.9960 and any break above targets 1.000/1.00680.
On the lower side, any major weakness ...
EURUSD has pared most of its gains made this week. The pair hits high of 1.16212 on Oct 16th 2018 and declined more than 100 pips yesterday after Fed meeting minutes. It is currently trading around 1.14893.
The FOMC minutes has been interpreted as hawkish and it was very clear that Fed is to continue hike rates gradually despite recent criticism from President ...
LTCUSD (at BITFINEX) slides through sloping channel in the minor trend, while shooting star pattern candles have popped up on Monday to nudge price below 21DMAs, shooting star coupled with bearish DMA crossover signals further weakness.
To substantiate this bearish stance, both momentum oscillators (RSI & stochastic curves) signal more dips on cards (refer daily ...
Although AUDUSD attempted to bounce back from the lows of 0.7040 levels, failure swings are at 0.7150 levels. Consequently, bears have resumed today. While minor trend slides through sloping channel.
Sharp shooting star has occurred at 0.7256 levels which is exactly at channel resistance (refer daily plotting).
As a result, the current prices are still below ...
Technical Bias Bearish
- Bearish divergence on RSI and Stochs
- Price action dips into daily cloud
- Beraish 5-DMA crossover on 21-EMA
- Stochs and RSI sharply lower, RSI below 50 mark
Support levels - 1.7542 (55-EMA), 1.7441 (lower BB), 1.7409 (38.2% Fib)
Resistance levels - 1.7660 (5-DMA), 1.7826 (Sept 11 high), 1.7928 (Oct 8 high)
Good to go short below ...
Technical Bias Bullish
- Extending upside for the 4th straight session
- RSI above 50 and biased higher
- Stochs show bullish momentum
- Price has broken into daily cloud, tests 23.6% Fib
Support levels - 0.6447 (5-DMA), 0.6438 (21-EMA), 0.6371 (Oct 8 low)
Resistance levels - 0.6512 (Upper BB), 0.6564 (cloud top), 0.6622 (38.2% Fib)
Good to go long on break ...
GBPCADhas formed shooting star and gap down patterns that plummets price below 7DMA levels. But bulls are shrugging-off gap down formation, the prevailing rallies are not backed by both leading and lagging indicators.
Upon failure swings, the pair is likely to drag slumps upto next strong support at 1.7033 levels. For now, more dips seem to be likely on bearish ...
It is good to buy above 1.1600 with SL around 1.15700 for the TP of 1.1660/1.1700
GBPJPYchart and candlestick patterns occurred: On daily plotting, bearish engulfing, shooting star and hanging man patterns have occurred to counter the previous bullish trend. All these candlestick patterns are bearish in nature have occurred at 147.151, 148.528 and 146.754 levels respectively, one can observe the selling sentiments ever since then.
Bearish engulfing pattern pops at stiff resistance of GBPUSD, consequently, the current price slid below 7DMAs,
For now, cable price sentiments are attempting to build on the rebound from the lows of 1.3083 region, the bullish sentiments for the day is not backed by the momentum oscillators.
Nevertheless, 1.3217 is still perceived as the major barrier ahead of ...
AUD/USD has bounced off strong trendline support.
Holds above 0.71 handle and finds strong support at 5-DMA.
Major trend in the pair remains bearish, but break above 21-EMA could see test of 50-DMA at 0.7224.
Focus on RBA minutes and employment data for Sept.
Stay long above 21-EMA, SL: 0.71, TP: 0.72/ 0.7225
AUD/CAD finds stiff resistance at 20-DMA.
Stochs and RSI support upside.
We see bullish divergence on Stochs.
Focus on RBA Meeting Minutes along with the latest Australia Unemployment numbers for September.
5-DMA is immediate support at 0.9241, break below will see resumption of weakness.
Stay long above 20-DMA, SL: 0.9240, TP: 0.93/ 0.94
EURJPYhas shown considerable price slumps upon below mentioned chart patterns, for now, the trend seems to be little weaker.
Technical chart and candlestick patterns formed – The stern shooting star patterns have occurred at 131.895 and 132.234 levels (on both monthly and daily terms respectively). The stiff resistance is observed at 133.236 ...
Litecoin slides through sloping channel, retraces 88.6% Fibonacci levels but no traces of recoveries – Investment attributes and recommendations:
The minor trend of LTCUSD (at BITFINEX) slides through sloping channel, while bearish engulfing pattern have popped up yesterday to nudge price below DMAs, to substantiate this bearish stance, both momentum oscillators ...
AUD/NZD bulls test channel support, major trend still stuck in range – Trade one touch call and short hedge:
Chart and candlestick patterns formed: The AUDNZDbulls are attempting to make upside traction in both the minor trend and major consolidation phase.
In this process, the minor trend has been spiking through rising channel pattern. As bull-swings test ...
After grinding sideways along strong support at 55-EMA, the pair has resumed upside.
Price action has broken out of daily cloud raising scope for further gains.
Technical indicators support upside in the pair. We evidence bullish divergence on RSI and Stochs.
Price has broken above 23.6% Fib and next immediate resistance lies at 38.2% Fib at 1.1498 ahead of ...
EUR/CAD minor trend slides in sloping channel and major trend spikes through rising channel – Trade diagonal credit spreads:
EURCAD minor trend slides through sloping channel (refer daily chart), where we traced out gap-down in the recent past that nudges prices below DMAs upto channel support.
For now, bulls bounce back exactly at that juncture with engulfing ...
Major tend line support - 2745
The index has lost almost 200 points from the high of 2942. The pair hits low of 2745 and shown a minor jump. It is currently trading around 2770.
On the lower side major support is around 2745 and any break below targets 2700 (61.8% fib)/2674.
The near term major resistance is around 2766 (200- day MA) and any close above will ...