The counter bounced off from the lows and then consolidated in the form of a falling wedge pattern. Now, it has broken the wedge pattern and is preparing for a good bullish move. Hence, we expect the pair to be bullish in the near-term.
The counter is moving from strength to strength. It broke a critical resistance of 0.98801 and is consolidating just above it. The higher lows of the rally can be connected to form a bullish trendline. We expect the counter to move higher in the short-term and so we advise the traders to go long taking the trendline as reference.
The counter has formed a triple top pattern. The uncertainty around the Brexit deal is also set to take a toll on the counter. Hence, we expect the counter to be bearish in the short-term.
The counter has broken the multi-week resistance of 1.33417. There were huge short positions built around this level and now we might see a short-covering rally. Hence, we expect the pair to be bullish in the near-term.
The counter is currently in a corrective phase. And the bearish trendline caps the upside rally. The pair is currently hovering around the bearish trendline and so expect it to pull back down to the support levels.
The counter is on the brink of a long bull cycle. After completing wave 1, it has formed a long ABC correction, which can be construed as wave 2. Now, wave 3 is the longest wave of a cycle has commenced. Also, the GDP numbers from Canada have been upbeat. Hence, we expect the pair to be bullish in the near- and short-term.
The crude oil did witness upbeat inventory data yesterday. It made a ‘sell on news’ trade and made a sharp fall however, the support of 55.46 came to the rescue. It has formed a double bottom at the support, broke the neckline and is currently retesting the same. Hence, we expect the counter to be bullish for the short-term.
The counter is currently in a corrective structure - ABC wave. It has completed the waves - A and B in the WXY form and the wave C is due. The support of 106.667 has been critical support historically and the RSI indicator is also exhibiting divergence. Hence, we expect the move north from here.
The counter has formed a bullish flag pattern in the short-term chart. It made a bullish breakout and is consolidating above it. Hence, we expect the pair to be bullish in the short-term.
The counter made a steep fall from the resistance from 0.74200. It then consolidated in a narrow range of 0.73800-900. Now, it made a bearish breakout out of the range turning MACD indicator into bearish territory. Hence, we expect the pair to trade with bearish bias in the short-term.
The counter has broken off a bearish flag pattern. Further the pair has formed a double top pattern in the near-term. The british PM’s attempt to suspend the parliament is also set to weigh the counter. Hence, we expect the pair to head south from here.
The counter broken a critical resistance of 1.81643, however, it was unable to sustain the higher levels and retracted sharply. It recovered from the sharp fall and is currently testing the same resistance level. We expect the resistance to cap the price action and nudge it down from here.
The counter has broken off a strong support level of 1.47094. It is currently consolidating just below the broken support. We expect the pair to head south from here to the support levels of 1.46614 and 1.46084.
The counter formed a descending triangle in the 1-h timeframe. It has now made a bearish breakout. Hence, we expect the pair to be bearish in the near-term.
The counter has broken down a critical level of 0.97746. It is currently hovering around it to form a consolidation base. Hence, we expect the pair to be bearish in the near-term.
After a strong up move, the counter is poised for a profit booking rally. The rising wedge pattern formed during the up rally has broken down. Hence, we expect the pair to be bearish in the near-term.
The counter has completed its short-term bull cycle by completing 5 waves. It is taking support at the lower levels and is absorbing the selling pressure by forming an ascending triangle. The resistance of 72.50 currently caps the rally and a breach above it can result in significant short-covering in the counter. Hence, we advise traders to buy only above 72.5...
The counter has broken off its near-term trendline in the hourly chart. Also, the PMI numbers from Europe show signs of revival in the economy. Hence, we expect the pair to be bullish in the near-term