EUR/USD is facing strong resistance around 1.1000 (trend line joining 1.1249 and 1.11952) and any further bullishness can be seen only above that level. Any break above 1.1100 will take the pair to next target at 1.1085/1.1123 level in short term. On the downside minor support is around 1.0950 and break below will drag the pair till 1.0900/1.0850. Bullish...
EUR/GBP has broken short term trend line resistance around 0.7020 which confirms short term bullishness , jump till 0.7125 cannot be ruled out . It has made a high of 0.7055 and is currently trading at 0.7045. Overall trend is still bullish as long as support 0.6980 holds. The pair’s major resistance is around 0.7050 and break above will extend gain till...
GBP/JPY has recovered after making a low of 192.28. It is currently trading at 193.70 and made a high of 193.95 yesterday. Short term trend is bullish as long as support 193 holds. Any break below 193 will drag the pair further down till 192.60/192.25. Bullish invalidation if it closes below 192.25. On the higher side minor resistance is around 194 and break...
Kiwi recovered after RBNZ rate cut OCR by 25bpbs. Some analyst had expected a larger cut and the NZD strengthened after the announcement. RBNZ argued that falling exchange rate will help to return inflation to 2%., which reduces the chance of further interest rate cuts. Technically it is facing around 0.6650 and any break above will extend gains till...
USD/JPY has taken support near 123.50 and recovered from that level. Overall trend is bullish as long as support 123.25 (200 day 4 HMA). Any weakness can be seen only below 123.30 and break below will drag the pair further down till 122.90/122.40. On the higher side minor resistance is around 124.50 and break above would extend gains till 125/125.84. Bullish...
Candlestick pattern- Doji EUR/USD has recovered after making a low of 1.0865 (61.8% retracement of 1.08070 and 1.09669) . It is currently trading at 1.09485. On the lower side short term support is around 1.09200 and any break below will target 1.08865/1.0865/1.0850. Short term trend reversal only below 1.0800 level. The pair is facing intraday resistance...
GBP/USD is trading higher on account of policy divergence between different central banks The Monetary Policy Committee (MPC) voted unanimously in favor of keeping the Bank Rate at 0.5% and the stock of purchased assets unchanged at GBP375bn. The wage growth has picked more than expected in recent months. This confirms that inflation will reach 2% target much...
EUR/USD is trading in within narrow channel in Asian session. It is trading between 1.09655 and 1.09235. On the lower side short term support is around 1.09200 and any break below will target 1.08865/1.0850. Short term trend reversal only below 1.0800 level. The pair is facing intraday resistance around 1.0970 and break above would extend gains till...
Intraday Trend – Bullish Short term trend - Bullish EUR/CAD has formed Big W patter which confirms short term bullishness, a jump till 1.4340 cannot be ruled out . On the downside minor support is around 1.4150 and break below will drag the pair further down till 1.4100/1.4040 in short term. The pair's minor resistance is around 1.4260 and break above will...
Intraday trend – Bearish Short term trend – Bullish USD/JPY has broken short term support 123.80 which confirms short term weakness, a decline till 122.90 cannot be ruled out. On the downside minor support is around 123.60 and break below targets 123.30/122.90. It will be facing resistance around 124.10 and break above would extend gains till...
GBP/USD has broken short term support 1.5550 and declined till 1.5528 yesterday . It is currently trading at 1.5557. Intra day bullishness can be seen only above 1.5580 and break above target 1.5600/1.5630/1.5650. Overall bullishness can be seen only if it closes above 1.5600. It is good to sell on rallies around 1.5565 with SL around 1.5605 for the TP of...
GBP/JPY has broken short term support at 192.60 and this confirms short term weakness till 190.50 can be seen. On the downside minor support is around 191.78 and break below will target 191/190.55. Short term bullishness can be seen only above 193 . Any indicative break above that level would extend gains till 193.35/194 in short term. It is good to sell on...
EUR/USD has broken short term trend line resistance 1.08620 and a slight jump till 1.0900/1.0950 cannot be ruled out . Intraday support is around 1.0820 and break below targets 1.0800/1.0760 in short term. It is good to buy at dips around 1.0865 with SL around 1.0818 with TP of 1.0950/1.1000
Intraday minor support is 1.5550 and break below targets 1.5500/1.5480. Intraday bullishness only above 1.5580. Any break above 1.5580 will target 1.5610/1.5630/1.5650. It is good to sell on rallies around 1.5540-42 with SL around 1.5580 for the TP of 1.5480/1.5455
EURNZD breaks trend line support 1.6400 which confirms short term weakness , a decline till 1.6340/1.6300 cannot be ruled out. On the higher side minor resistance is around 1.6420 and any break above will target 1.6460/1.6585 in short term. Overall short term bearish invalidation only above 1.6560. It is good to sell on rallies around 1.6400-405 with SL around...
GBP/JPY has trading in narrow range between 193-193.88 yesterday. Any further weakness can be seen only below 193 level. It has also broken short-term channel resistance 193.60 whic confirms short term bullishness , a jump till 194.35/195 cannot be ruled out . On the downside any break below 193 will target 192.60/192 in short term. Short term trend reversal...
USD/JPY is trading near major resistance 124.40 and nay break above will target 125/125.85 in short term. Intraday weakness only below 123.80 and break below will target 123.30/122.90 in short term. Overall bullish invalidation only below 122.90.Break below that level will drag tte pair further down till 122.40/122. It is good to buy around 123.30-35 with SL...
NZD has recovered slightly from the low of 0.64970 after the country's PM expressed caution about scale of the currency's recent fall. Kiwi recovered till 0.6605 level. New Zealand Prime Minister John Key said yesterday that the currency's 25 percent fall over the last year had been faster than expected. Technically major support is around 0.6540 and any...