EURNZD (4H) - medium term bullish bias The euro broke above the pennant we discussed last time and carried on its way up with conviction. The faster moving average crossed above the slower one indicating accelerating momentum as the market chose its direction. We expect the price to rally to the previous high of 1.7610, and then to a new high should the offers...
USDCHF (1H) - short term bullish bias Following our previous 4H analysis the USDCHF pair remained afloat after its rebound from the rising trend line. The price is attempting to break out of the congestion area of 0.9940-0.9990 along with a bullish MA cross. In the meantime, the RSI is still in the neutral area, and we can expect the rally to go on before any...
AUDUSD (4H) - short term bullish bias The aussie found strength to push back after five attempts at the 0.6680 support zone. It seems buyers have regained control for now. The first upside impulse was met with more buying interests at the 61.8% (0.6710) Fibonacci retracement level. What is happening now could be the fourth corrective wave and we can expect the...
XAGUSD (D) - medium term bearish bias Silver is currently in a triangle consolidation pattern after it reached the key resistance level of 19.60. The RSI divergence first gave us an indication that the bullish fever could soon run out of steam, as the price action was losing its upside momentum. The latest MA bearish cross is another sign that the short side is...
EURUSD (4H) - short term bullish bias Following the bullish MA cross on 3 October, the euro broke above the bearish trend line from the daily chart. This is a strong indication that selling pressures have eased off. As the RSI is falling back from the over-bought zone, we expect the pullback to continue today towards the area between the rising trend line and the...
Brent crude (1H) - short term bullish bias The crude oil successively broke above 59.30 and 59.60 while the faster moving average completed a bullish cross above the slower one. The price is likely to carry on its recovery after it met strong buying interests near the major daily level of 56. The RSI has fallen back from the over-bought area and we expect fresh...
GBPUSD (D) - medium term bullish bias The pound's latest meteoric rise must have taken short-term traders by surprise. But when we take a step back and look at the daily chart, the price action is perfectly in line with fundamental developments. Following the previous rally above 1.2550, the pound has found strong support at the 61.8% (1.2200) Fibonacci...
Gold (4H) - short term bullish bias The surge from early October found solid support at the 50% (1490) Fibonacci retracement level. What we are witnessing is the formation of a possible pennant pattern that often occurs after a large price movement. While the RSI remains in the neutral area, the price is likely to be bound by a well-defined trading range until a...
BTCUSD (1H) - intraday bearish bias Sentiment has been gradually turning around and the latest rally established solid support near 7750 and 8100. We expect a recovery to above 9000 in the next few days. However, the short-term price action has shown signs of over-extension. The RSI is coming back from the over-bought domain, and the price is likely to drop...
USDCAD (1H) - short term bullish bias The pair met stiff selling pressures near the previous high of 1.3345 as longs might have started to take some money off the table. The current pullback is testing buyers' stronghold around 1.3290. In the meantime, the RSI indicator has eased towards the lower end of its spectrum. This can be seen as an opportunity for...
USDNOK (4H) - short term bullish bias The US dollar achieved a new high after breaking above the major resistance level of 9.16. It seems that buyers have not jumped ship but are still committed to the rally. We can expect the price to continue its way up as long as the trend line keeps buying interests intact. The RSI has yet to show an over-bought situation,...
USDJPY (1H) - short term bullish bias The Japanese yen came under pressure against most major pairs, which allowed the greenback to recoup its losses from yesterday. The price is now testing the resistance level of 107.45 again and perhaps as the saying goes, third time is a charm. The RSI has remained in the neutral area while the faster moving average crossed...
GBPUSD (1H) - short term bearish bias The cable broke below the triangle consolidation and that kicked off a fresh round of sell-off. The RSI sunk into the over-sold territory but has recovered since, enabling sellers to join the trend at a better price. The long wick on this morning's candle is a sign of strong rejection near the 1.23 resistance. We expect the...
USDCHF (4H) - medium term bullish bias The US dollar met stiff selling pressure near the June high of 1.0010. The price has retraced to the bullish trendline in hope of finding renewed buying interests. This line will act as a major support in conjunction with the psychological level of 0.9900. If the price finds enough momentum to bounce off, we can expect...
EURUSD (D) - medium term bearish bias The euro has been falling within a well-defined channel. The upper band and the moving averages have proved to be strong resistance levels so far. The RSI divergence can be seen as a sign of possible consolidation or reversal in the coming weeks. However, the price action is expected to remain subdued until offers around...
GBPJPY (4H) - short term bearish bias The pound came under renewed pressures following short-lived consolidation at the upper band of the bearish channel. In spite of a RSI divergence, the pessimistic mood will stay as long as the channel and both moving averages contain any attempt to bounce back. The RSI has yet to show an over-sold situation, and we expect the...
EURJPY (1H) - short term bullish bias The single currency rose back from the psychological price tag of 117 after a bullish RSI divergence hinted at a potential reversal last week. The bullish MA cross is the confirmation that the price action was turning around and more buyers might join the action as the rally extends to the upside. While profit-taking would...
GBPAUD (1H) - short term bullish bias The aussie came under pressure at the start of the week. The pound sterling bounced back from the 4H support level of 1.8150, and the RSI indicator recovered from its over-sold area. The bullish MA cross is a signal that more buyers are getting optimistic, we can expect the price to rally to test the previous high of 1.8400....