EUR/INR creeps up to reach 6-week's highs of 75.6770 levels after testing supports at 7DMA but could not manage to hold onto the day highs of 75.7820 as it reaches upper Bollinger band. Current prices are well above 7 & 21DMA that indicates uptrend seems to be continued. So, go long along with upper Bollinger band at supports near 7DMA. While, daily RSI and...
Harmonic Pattern formed – Bullish Bat Pattern Potential reversal Zone (PRZ) – 9395 The index has made a low of 9501 and slightly recovered from that level. It is currently trading around 9667. Short term trend is slightly bullish as long as support 9395 holds. Any break below 9395 will drag the index down till 9300/9125.The minor support is around 9500. On...
Technical glimpse: The breakdown in USD/INR continues with a renewed trending bias. The break out above of the resistance 66.68 zone (Jan breakout/21DMA) highlights the importance of the upward targets. Otherwise, December lows with violations confirming a deeper corrective phase upto 65.96 levels. Upswings are healthy so far confirmed by both leading and...
Major resistance - $36.40 (trend line joining $39.82 and $39.01) Major support - $36 (55 day EMA) US Oil has broken major resistance $36.40 and jumped till $37.05 at the time of writing .It is currently trading around $37. Short term trend is slightly bullish as long as support $36 holds. On the higher side major resistance is around $37.30 (7 day EMA) and any...
Harmonic Pattern Formed – Bearish Bat Pattern Potential Reversal Zone (PRZ) - $1240 The yellow metal has recovered till $1236.60 after making a low of $1214.84. Gold struggles to trade above $1240 and selling pressure at higher levels dragged the yellow metal down till $1224 at the time of writing. It is currently trading around $1225. Short term trend is...
Major Intraday support -1.3100 (trend line joining 1.2857 and 1.30024) The pair has retreated after making a high of 1.32186. It is currently trading around 1.31469. Intraday trend is slightly bullish as long as support 1.3100 holds. Any break below 1.3100 will drag the pair down till 1.3060/1.3000. On the higher side major resistance is around 1.3150 and...
Harmonic Pattern Formed- Bullish Bat Pattern Potential Reversal Zone (PRZ) -155 The pair has slightly recovered after making a low of 155.72. It is currently trading around 156.06. Short term trend is slightly bullish as long as support 155 holds. On the higher side minor resistance is around 156.75 and any break above will take the pair till 157.30 (4H...
The pair declined soon after the formation of long legged doji at 77.718 levels, fell from the highs of 78.210 to the current 75.177 levels. That's where it has struggled to hold onto the resistance at 76.690 levels (upper BB, 30th March close). After dropping from this resistance, bears have managed to push back southwards for support at 75.922 which we've...
Major Support - 15500 The index has made a low of 15533 and started to recover from that level. It is currently trading around 15812.Intra day trend is slighty bullish as long as support 15500 holds . Any break below 15500 confirms minor weakness and decline till 15000/14750 is possible in short term.On the higher side minor resistance is around 15910 and...
Cable:Book profit in GBP/USD at 1.4130
Ever since the pair has bounced back from the lows of 0.6347 levels, Kiwi dollar has been consolidating stronger from last couple of months. But, after dropping from major resistance at 0.6840 levels (7DMA, 29th March close) indicates previous consolidation trend seems again little weaker and more potential for downside to targets. Currently, heading towards...
NZD/USD bears tighten grip below 0.68 handle, pair hit fresh weekly lows at 0.6770. New Zealand Institute of Economic Research (NZIER) Survey of Business Opinion was released earlier today. Data showed business confidence dropped in the first quarter of 2016, with a net 1% of businesses expecting a deterioration in the economy in the next six months. Short term...
Major support - 1.13700 Major intraday resistance - 1.14050 It is good to sell on rallies around 1.1355-1.1360 with SL around 1.1405 for the TP of 1.1278/1.1200
Major resistance – 1.43200 (4H Kijun-Sen line) Major Support - 1.4250 The cable has made a high of 1.43215 and declined from that level. It is currently trading around 1.4328. The pair has broken major support and 1.4250 and declined till 1.42250 level. Short term trend is still weak as long as resistance 1.4320 holds. Any break above 1.4320 will take the...
AUD/JPY under heavy selling pressure in Asia, dented by risk-off across markets. Selling in the Nikkei 225 which was down over 3%, (adding pressure on Yen crosses). The pair printed a day low of 85.78 and has since pared some losses to currently trade around 85.92. Downside has seen breach of strong trendline resistance at 85.98, price action below hourly cloud...
Break-out below major supports at 111 levels (lower BB, Avrg. of recent lows) signals more scope for downside to targets upto 109.698 or 108.029 levels. RSI and Stochastic oscillators on both daily and weekly graphs are indicative of further declines. 21DMA crossing over on 7DMA has been observed, which is a bearish continuation signal (it is evident on both...
Major support - 158 Major resistance -159.55 (7 day EMA) it is good to sell on rallies around 158-158.10 with SL around 159.55 for the TP of 156.50/154.60
Major resistance 0.9020 Major support -0.8920 (resistance turned into support) The pair has broken major support 0.8920 and declined till 0.8874.It is currently trading around 0.88959. Short term trend is weak as long as resistance 0.9020 holds. Any break above 0.9020 will take the pair to next level 0.9060/0.9115.The minor resistance is around 0.8960. On the...