The oil counter is currently in an ascending channel pattern. It has crossed the critical resistance of 54.87 as well. Hence, we expect the pair to head to the upper parallel for now.
The counter is in a strong bear trend making lower lows consistently. Traders can go short as the trendline and the price action resistance drawn in charts can cap the upside movements.
The pair is currently in an uptrend and is making higher highs. It is now in a corrective rally and is close to its bullish trendline. Traders can go long at the trendline or on the break of the corrective structure.
The counter has formed a head and shoulder pattern. It has broken the neckline and is currently consolidating just below it. Hence, we expect the pair to be bearish in the near-term.
The counter has formed a double top pattern in the shorter time frames. It broke down the neckline and faced resistance from the same. Hence, we expect the pair to be bearish in the near-term.
The counter has moved past a significant level of 0.63296. Further, the technical structure can also be construed as a series of higher high formations. The next resistance is placed at 0.64062 and hence we expect the pair to make a move to it.
The counter is currently in a descending channel in the shorter timeframes. It has hit the upper end of the parallel and is coming down strongly. We expect it to move to the lower end of the parallel for now.
The counter is currently in a 3-wave bull cycle. It has completed its waves A and B and has kickstarted its wave C. It's a good time to hop in to long trades and expect an upswing from here.
The counter did test the resistance of 0.75684 twice, however, it was not able to pass through and subsequently formed a double top pattern. It has then broken the critical support level of 0.75236 and formed a bearish flag pattern. Now, it has broken down flag pattern and hence we expect the counter to be bearish in the near-term.
The counter has broken down from an ascending channel formation. The breakout leg move can be construed as a head and shoulder move as well. Further, the MACD indicator has moved into bearish territory as well. Since, multiple technical aspects converge to derive a single result- bearish trend, we expect a strong sell-off in the counter.
The counter has formed a head and shoulder pattern after a significant rally. Further, the unemployment data for the Aussie has come up with flying colors. Hence, we expect a profit booking rally in the counter.
The counter is currently in a rising wedge pattern. It hit the upper end of the parallel and is descending. We expect the price action resistance around 1.63671 to cap the rally and nudge it down to the lower parallel.
The chances of a Brexit deal took a nosedive, since reports circulated in the media that DUP could dodge the deal in UK parliament. There has considerable longs in the counter and hence, we expect traders to trim their position. Technically, the counter has broken down a critical level of 1.27271 and so, it could move to the next support level of 1.25381.
The counter is currently moving in divergence. Further, it is at multiple price action support points. And there is also a bullish trendline coming to aid. Hence, we expect the pair to witness buying activity here and move to the resistance level of 0.63328.
The counter has broken out a symmetrical triangle. It is currently consolidating just above the break out zone. Further, the MACD indicator is showing strength towards the buy side as well. Hence, we expect the pair to be bullish in the short-term.
The AUD/NZD pair is currently in a descending channel formation. It has broken the critical level at 1.07504 and is currently consolidating below it. Hence, we expect the pair to be bearish in the short-term.
The EUR/GBP pair is currently in a downtrend in the 4-H chart making lower lows and lower highs. It is currently consolidating below the critical resistance 0.87940. Hence we expect the pair to be bearish for the short term.
The USD/CAD pair has formed a double top formation. It has broken the support level and is currently retesting it. Hence we expect the pair to be bearish further from here.