Harmonic Pattern – Bearish shark pattern Aussie recovered till 0.74275 and has retreated from that level. Overall trend is weak as long as resistance 0.7435 holds. On the higher side any break above 0.7435 would extend gains till 0.7475/0.7500 in short term. Overall bearish invalidation only above 0.7500 level. The pair’s short term support is around 0.7325...
Chart Pattern: Cup and handle USD/JPY has made a high of 124.46 and is currently trading at 124.35. Intraday trend is bullish as long as support 123.78 holds. Any break below 123.78 will drag the pair further down till 123.50/123.25 in short term . On the higher side any break above 124.60 will target 125/125.85 in short term. It is good to buy at dips around...
Cable declined till 1.5525 after making a high of 1.56328 yesterday. Overall trend is still bullish as long as support 1.5460 holds. Any break below 1.5460 will drag the pair down till 1.5430/1.5400. On the higher side minor resistance is around 1.5550 and any break above would extend gains till 1.5580/1.5630. It is good to buy at dips around 1.5510-15 with...
EUR/USD has broken trend line support 1.0900 and is currently trading at 1.08580. It is facing strong support at 1.0800 and any further weakness only below that level. Any break below 1.0800 will drag the pair further down till 1.0650. On the higher side minor resistance is around 1.0907 (7 day 4 H EMA) and any break above would extend gains till...
Cable is trading within narrow range 1.56771 and 1.55483 for the past three trading session. Today it went up to 1.56168 in Asian session and pared its gains once European session started. Overall trend is still bullish as long as support 1.5540 holds. Any break above confirms short term weakness, decline till 1.5480/1.5435 cannot be ruled out. On the upside...
USD/CAD has formed double top around 1.3175 and started retreating from that level. It has formed temporary top around 1.3175 and any further bullishness only above that level. Any break of 1.3175 will extend gains till 1.3215. On the downside minor support is around 1.3109 and any break below will target 1.3025/1.2980/1.2940. Overall bullish invalidation only...
USD/JPY has made a high of 124.26 yesterday and declined till 123.85 from that level.. Short term trend is weak as long as resistance 125 holds. On the higher side minor resistance is around 124.60 and any break above will target 125/125.80 in short term. Intraday trend reversal only above 124.60. The pair’s intraday support is around 123.80 and below it will...
EUR/USD has made a high of 1.1113 on Friday and declined from that level. It is currently trading well below 100 and 200 day HMA. Any break above that level 1.100 will confirm short term bullishness, a jump till 1.1035/1.1085/1.1100 cannot be ruled out . On the downside it is facing trend line support at 1.09150 (trend line joining 1.0825 and 1.08925) and break...
Book profit and Exit from AUD/USD long @ 0.73480
USD/CHF has made a high of 0.97034 and currently trading at 0.96926. Overall trend is still bearish as long as resistance 0.9720 holds. Major trend reversal level only above 0.9720 (30th Jul high). On the downside minor support is around 0.9685 and any break below will target 0.9635/0.9595/0.95545. The break of major resistance would extend gains till...
AUD/USD has formed triple bottom around 0.7250 and recovered from that level on account of better than expected Australian retail sales . Retail sales come in 0.7% compared to forecast 0.4% .Market awaits RBA rate decision later today which is major market mover . Technically major support is around 0.7250 and any break below targets 0.7230/0.7190 in short...
The major support is around 1.0900 (trend line joining 1.0807 and 1.08922) and any break below targets 1.0850/1.10800. Intraday minor resistance is around 1.0978 (20 day 4 HMA) and any break above will extend gains till 1.100/1.1085 in short term. It is good to buy at dips around 1.09525-550 with SL around 1.0890 for the TP of 1.100/1.1085
Cable is trading within narrow range 1.56771 and 1.55483 for the past two trading session. Today it went up to 1.56438 in Asian session and pared its gains once European session started. Overall trend is still weak as long as resistance 1.5690 holds. Any break above confirms short term bullishness , jump till 1.5745/1.5800 cannot be ruled out . On the...
GBP/JPY once again made a high of 194.22 and retreated from that level. Overall trend is still weak as long as resistance 194.60 holds. Any break above major resistance 194.60 targets 195/195.85. On the downside minor support is around 193.75 and any break below will drag the pair further down till 193.40/193/192.30. Bullish invalidation only below...
EUR/USD has made a high of 1.1113 and declined from that level. It is currently trading well below 100 and 200 day HMA. Any break above that level 1.100 will confirm short term bullishness , a jump till 1.1035/1.1085/1.1100 cannot be ruled out. On the downside minor support is around 1.09425 (76.4% retracement of 1.0920 to 1.1113) and nay break below will drag...
Candle stick pattern- Hanging man USD/CHF has made a high of 0.96919 and declined till 0.95474 on Firday. The pair recovered quickly and closed at 0.96493. Major trend reversal level only above 0.9720. On the downside minor support is around 0.9637 and any break below will target 0.9595/0.9545/0.9520. The break of major resistance would extend gains till...
EUR/USD target 2 achieved @ 1.1035. Book full profit
USD/CHF target 1 achieved @ 0.9595 book full profits