USD/CAD has recovered after making a intraday low of 1.29928 in Asian session. Short term trend is still bullish as long as support 1.2960 holds. Loonie is expected to trade higher as Canadian monthly GDP data for May which is to be released today is expected to show no growth. On the downside any break below 1.2960 will target 1.2915/1.2900/1.2855. Overall...
GBP/USD has formed a major top around 1.56750-1.5688 and is struggling to break above that level. Overall trend is still weak as long as resistance 1.5690 holds . On the downside minor support is around 1.5580 and any break below will extend gains till 1.5525/1.5465/1.5430. The pair’s minor resistance is around 1.5630 and any break above will target...
Chart pattern- triple top USD/CHF has formed triple top almost at 0.9720 and retreating from that level. Intraday trend – Bearish. Further bullishness can be seen only above 0.9720 level. Any break above 0.9720 will target 0.9770/0.9800. On the downside minor support is around 0.9650 and break below will target 0.9595/0.9550 in short term. Overall bullish...
Candlestick pattern: Doji with next red candle confirming short term weakness. USD/JPY has made a high of 124.57 and started retreating 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...
Candle stick pattern- Bearish engulfing GBP/JPY has made a high of 194.58 yesterday and retreated from that level. It is still weak as long as resistance 195 holds. Any break above major resistance targets 195.85/196. On the downside major support is around 193 and any break below will drag the pair further down till 192/191. Bullish invalidation only below...
Candle stick pattern- Bearish engulfing GBP/JPY has made a high of 194.58 yesterday and retreated from that level. It is still weak as long as resistance 195 holds. Any break above major resistance targets 195.85/196. On the downside major support is around 193 and any break below will drag the pair further down till 192/191. Bullish invalidation only below...
USD/CAD target 1 achieved at 1.3005. Book full profit
GBP/AUD breaks major resistance 2.1442 and this confirms short term bullishness , a jump till 2.1500/2.1550 cannot be ruled out . Slight weakness can be seen only below 2.1400. It is good to buy around 2.1440-45 with SL around 2.1400 for the TP of 2.1500/2.1550.
GBP/AUD has made a high of 2.14417 (29th Jul) and declined till 2.12944 (29th Jul low).It has formed a temporary bottom around 2.1290 and any further weakness can be seen only below that level. Any break below 2.1290 will drag the pair further down till 2.1230/2.120 in short term. The pair’s minor supports are 2.1365/2.1330. On the higher side major resistance...
Book profit and exit from USD/CHF long at 0.9705. Buy call given at 0.9610
EUR/USD has formed bullish BAT pattern in 4 hours chart , a jump till 1.1035/1.10800 cannot be ruled out . The pair’s minor support is around 1.0920 which confirms further weakness, a decline till 1.08950/1.0865/1.0850. Further weakness can be seen only below 1.0800. On the higher side minor resistance is around 1.0970 and break above would extend gains till...
EUR/USD target 1 achieved @ 1.0950. Book full profit
GBP/USD has broken the major resistance of 1.56700 and went up to 1.56885. It has made a false break out and started to fall from this level. Intraday trend is till weak as long as resistance 1.5630 holds. Cable pared its gain after FOMC meeting on Wednesday, with Fed kept the door open for rate hike in September. Any break above 1.5630 will take the pair to...
USD/JPY has recovered after making a low of 123.52 yesterday. Intra day trend is bullish as long as support 123.50. Any break below 123.50 will drag the pair further down till 123.20/122.90. Short term bullish invalidation only below 122.90. On the higher side minor resistance is around 124.20 and break above would extend gains till 124.50/125/125.85. It is...
USD/CAD has made a low of 1.2855 and slightly recovered from that level. Overall trend is still bullish as long as support 1.2840 holds. Overall bullish invalidation can happen only below 1.2840. On the downside any break below 1.2840 will drag the pair further down till 1.2800/1.2716 in short term. The pair's minor resistance are at 1.2976/1.3010 level. It...
GBP/JPY has formed shooting star candlestick pattern in 4 hours chart , this confirms short term weakness , a decline till 192/191 cannot be ruled out . It has made a high of 194.15 today and declined from that level. Overall trend is weak as long as resistance 194.20 holds. The minor support are 193/192.40/192. It is good to sell on rallies around 193.60-65...
Intraday weakness only below 192.80. Any break below 192.80 will drag the pair till 192.40/192. Minor resistance is at 194/194.35/195. It is good to buy at 193.25-30 with SL around 192.80 for TP of 193.95/195
GBP/USD breaks major resistance 1.5630 after release of better than expected positive money supply and mortgage approvals in the UK. Technically it has broken major resistance 1.5630 and any break above would extend gains till 1.5670/1.5745 in short term. Intraday trend is still bullish as long as support 1.5600 (7 day 4 H EMA) holds. On the downside any...