USDCAD is expected to go long after breaking a resistance, turning it into a support zone, coming back to retest it, form a new high and has now dropped towards the zone again. This move is supported by the trend line and support zone which are expected to push price up towards at least 1.29395.
Price has created a rising wedge pattern which in bullish markets, is a reversal pattern. I predict price will fall to the last major support level which is @11631.8.
Price has created a rising wedge pattern which in bullish markets, is a reversal pattern. I predict price will fall to the last major support level which is @11631.8.
CHFJPY has been in an uptrend and has recently began forming a falling wedge. This pattern in an uptrend is a continuation pattern so a bullish breakout is expected.
USDZAR has formed an ascending triangle which is expected to have a bearish breakout. TP is set @16.64390 which is the nearest and most recent support.
The GBPEUR price has been in a bearish movement since 5 May and has encountered a major zone @1.1105 which was recently used as resistance by the price but has long stood as support. We expect the market to begin a bullish retracement to the 1.1285 zone to gather momentum then an impulsive bearish movement past the 1.1105 zone towards the next major support @1.0737.
EURUSD price is in a zone that has been acting as resistance since mid April. We saw a strong rise in price to this zone and expecting a pullback until 1.08992 then a Bullish movement until the next resistance @1.11431 which will be the Take Profit.
