GBP/USD has broken short term trend line support 1.5575 and this confirms short term weakness, a decline till 1.5480 is possible. On the downside minor support is around 1.5550 and break below targets 1.5530/1.5480 level in short term. The pair’s strong resistance is around 1.5680 and break above will take the pair to 1.5750/1.5800 level. The minor resistance...
EUR/USD has formed bullish butterfly pattern in 4 hours chart and this confirms short term bullishness, a jump till 1.1035 cannot be ruled out. Major support is around 1.0800 and any break below will drag the pair till 1.066/1.0500. On the higher side minor resistance is around 1.0850 and break above will target 1.0900/1.0950/1.1035 in short term. EUR/USD holds...
AUD/JPY breaks short term support 91 and is currently trading at 91.40. Overall trend is weak as long as resistance 92.40 holds. On the lower side minor support is around 91 and break below targets 90/89.35. The break of major resistance 92.40 will target 94/95 in short term. Bearish invalidation only above 92.40. Indicators (4 hours chart) CCI (50) -...
USD/JPY is consolidating between 124.22 and 123.90 on Friday session. Intraday trend is bullish as long as minor support 123.60 holds. Any break below 123.30 will target 122.90/122.40 in short term. Short term bullish invalidation only below 122.90. On the higher side minor resistance is around 124.40 and break above target 125/125.85. Indicators (4 hour...
GBP/JPY has made a high of 194.36 and declined till 192.88. It is currently trading at 193.53. Overall trend is bearish as long as resistance 194.35 holds. On the downside major support is around 192.60 and break below targets 192/190.55. The minor support is around 193.20/192.60. On the higher side minor resistance is around 194 and break above will take the...
EUR/USD has formed inverted hammer in 4 hours chart and this confirms short term bullishness , a jump till 1.100 cannot be ruled out. The Pair was trading weak even if Greece risk subsides. ECB announced to raise ceiling by 900M euro with haircuts on collateral unchanged. EU has also approved a bridge loan worth €7 billion. Technically major levels to watch out...
GBP/AUD retreated slightly after making a high of 2.1242 and intraday trend is bullish as long as 2.0980 holds. GBP is trading higher against all currencies on policy divergence and rake hike is expected slightly earlier than before as the UK economy is performing better than expected. Technically the pair’s major resistance is around 2.125 and break above will...
GBP/USD has made low of 1.5593 and recovered from that level. Short term trend is bullish as long as support 1.5600 holds. GBP is trading higher on account of policy divergence of major central banks. BoE governor Mark Carney also said earlier this week that rate hike might happen earlier given the performance of the UK economy. Technically Cable is facing...
AUD/JPY consolidates in narrow range 91/92.20 for the past two trading session. Short term trend is bullish as long as support 91 holds. Any break below 91 will drag the pair further down till 90.50/90. Overall bullish invalidation can happen only below 89 level. The minor support is around 91.70. On the higher side minor resistance is around 92.40 and break...
Gold is trading within narrow channel and any short term jump can be seen of it close above $1167. Any break above $1167 will target $1183/$1204. In the 6 hours chart it has formed bullish divergence so slight jump till $1153/$1160 cannot be ruled out. Major support is around $1130 (Jul 11th low) and break below will drag the commodity further down till...
EUR/AUD is facing trend line resistance around 1.48626 and any further bullishness can be seen only above that level. Any break above 1.4865 would extend gains till 1.4906/1.50697. The pair’s minor resistance is around 1.4820 and break above will target 1.4870. On the downside any break below 1.4760 will confirm short term weakness and decline till 14690/1.4660...
GBP/JPY has made a high of 193.84 and retreated till 193.23. Intraday trend is bullish as long as support 193.20 holds. Any break below 193.20 will drag the pair further down till 192.70/192.30 in short term. On the higher side any break above 193.85 would extend gains till 195/195.60. Intraday trend reversal only below 193.20. Indicators (4 Hours chart) CCI...
USD/JPY has made a high of 123.95 yesterday and trading at 123.81. Intraday trend is bullish as long as minor support 123.30 holds. Any break below 123.30 will target 122.90/122.40 in short term. Short term bullish invalidation only below 122.90. On the higher side minor resistance is around 124.40 and break above target 125/125.85. Indicators (4 hour...
GBP/USD made a high of 1.56737 and has declined from that level. It has formed temporary top around 1.5675 and so decline till 1.5550 cannot be ruled out. On the higher minor resistance is around 1.5650 and any indicative break above targets 1.5680/1.5750. The minor support is at 1.5600 and break below targets 1.5570/1.5525 level. Short term bullish...
AUD/USD has broken major support 0.7375 and this confirms short term bearishness , decline till 0.7300 cannot be ruled out. On the higher side minor resistance is around 0.7400 and break below will target 0.7435/0.7470. Overall bearish invalidation only if it closes above 0.7500. It is good to sell on rallies around 0.7400 with SL around 0.7435 for TP of 0.7310.
EUR/CAD declined till 1.39838 after making a high of 1.4250. Overall trend is bullish as long as support 1.3980 holds. On the downside any break below will take the pair to next target 1.3960/1.3900 level. Extreme weakness can be seen below 1.3900. The pair’s short term resistance is around 1.4076 and any break below will extend gains till 1.4130/1.4250 in...
USD/JPY has recovered till 123.52 after making a low of 122.91 yesterday. Overall trend is bullish as long as support 122.90 holds. On the downside any break below 122.90 will drag the pair further down till 122.40/122 in short term. The minor resistance on the higher side is at 123.71 and any indicative break above would extend gains till...
AUD/USD has jumped slightly till 0.74878 after release of positive Chinese data. Chinese economy grown at 7% in the second quarter compared to year ago and its industrial output also beats forecast, up 6.8% in June from previous year. Technically Aussie is trading in tight range between 0.740-0.750 and any reversal can be seen only if it breaks above below this...