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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 confined its price action to a range of 1.11078-1.10640.
It is awaiting cues from the Jackson Hole symposium to make a decisive move.
However, we expect a bearish move in the counter if it breaks the support of 1.10640.
The break could propel the pair to the support of 1.10267.
The counter broke a critical short-term support level of 17.08874.
It then pulled back and tested it as well, validating the break.
Hence, we expect the counter to be bearish for the day and retreat to the support level of 16.86499.
After a knee-jerk reaction to the news of Tori MPs trying to hack the Brexit process, the counter has stabilized now.
It formed higher-high higher-low formation and subsequently broke a critical resistance.
Hence, we expect the pair to be bullish for the near-term.
The counter has made a bullish breakout from its range bound movement 0.96800-0.97800.
It is hovering around its broken resistance for now.
Further, it is well above its 200-HMA.
Hence, we expect the pair to trade with bullish bias in the near term.
The counter has formed a head and shoulder in the short-term charts.
Also, it is formed at a strong resistance zone.
It has now broken the neckline and is just consolidating below it.
Hence we expect the pair to be bearish in the near-term and reach the support of 1.31964.
The counter has formed a descending triangle pattern, which is set to initiate a bearish trend.
The dovish statement from ECB is also set to support a plunge.
Hence we expect the pair to be bearish in the near-term.
The AUD/CAD pair has made a bullish break out from an asymmetrical triangle formation.
It has also breached the strong resistance levels of 0.90039 which could now act as a support.
Hence we expect the pair to be bullish Further from here.
The counter has formed a dragon pattern at the lows.
Further it made a higher-high higher-low pattern and bounced from the lows.
Hence, we expect the pair to move to the resistance levels of 130.052 and 130.999 from here.
The counter formed a head and shoulder pattern and plunged initially.
However, it recovered to the neckline and formed a wedge pattern.
The resistance at the neckline proves that the downtrend is not over yet.
Also, the pair has made a bearish breakout out of the wedge.
Hence, we expect the pair to be bearish in the short-term.