EUR/GBP after an uphill move has reached its resistive trendline. It is also facing rejections at the resistive trendline. Hence we expect the pair have bearish momentum from here.
CAD/CHF has completed its wave 3 and is currently forming a wave 4 in the form of a flag pattern in the daily chart. It is also at a strong support level of 0.75250. Hence we expect the reverse from here and kick start its wave 5.
The GBP/USD pair is currently in a triangle corrective wave in the 4h timeframe. It has formed the ABCD wave and a wave E is due. Hence we expect the pair to move up from here to the levels 1.31000.
The USD/CHF pair is a currently in a strong downtrend in the 1-hour chart. After a brief pause and pullback rally, it has formed a bearish engulfing candlestick. Hence we expect the pair to move to its support levels of 0.99452 from here.
The USD/CAD pair has is in an ascending channel formation. It is currently facing resistance at the resistive trendline. Hence we expect the pair to retrace to its supportive trendline.
The Dollar Index is currently in a ABC corrective wave. The corrective wave is in the form of a channel formation. There is a good chance for the supportive trendline to be broken now but if it holds we can see a higher high in the index.
We can't say for sure as of now. The 21 EMA has crossed the 55 EMA which indicates a Bullish Strength. But, it is currently kissing its 200-SMA and at a strong price action resistance zone. For now, we can expect profit booking in the counter and a pullback is imminent. Traders can expect a retracement till 0.67008, and if it bounces off from those levels and...
The resistance 0.72974 proves to be a tough nut to crack for AUD/USD. A strong bearish candle has formed after the series of rejection candles. Hence we expect the pair to move to its support levels at 0.71634.
Crude Oil is in a free-fall state making lower lows consistently. It is attempting a mild pullback now, but we don't expect it to last longer. We expect the pullback to stop and the downtrend to resume at the trend line. Hence traders can initiate a short position at the trend line.
The EUR/JPY pair after a steep down rally is currently in a pullback mode. We expect the pair to consolidate in the form of a triangle pattern. Since the pair is rejections at the 129 levels, we expect it to move to the supportive trendline from here.
The NZD/CAD pair has formed a rising wedge pattern in the 4-hour charts. It is precariously high and is currently at a strong resistance point as well. But, to be on the safer side we recommend investors to initiate short positions only after the trendline breaks.
Bitcoin has broken its key support level of 6212.36. It may now retrace to retest its broken support which is a good short entry point. Hence, we expect the pair to move to its next support levels at 6124 and 6011 from here.
The EUR/NZD after a steep downhill is now at a strong demand zone. There is a good chance for the bears to book profit here. Hence we expect a pull back from here and possibly to the support zones.
The NZD/USD pair has completed its 5-wave bull cycle in the hourly chart. It has completed wave A and is currently making the wave B move. As indicated in the chart, we expect a strong impulse move once Wave B completes.
EUR/USD has broken its key support level of 1.13050. It is also a oversold zone and hence we expect the pair to pullback and retest the broken support. So the level of 1.13050 is the ideal place initiate shorts and we expect the pair to move to the levels of 1.11596 from there on.
The CAD/JPY pair is currently facing strong resistance at the value of 87.000. It has broken its trendline and retested it also. Moreover an engulfing candle has also formed which indicates the resumption of downtrend. Hence we expect the pair to move south from here.
The bullion metal has currently broken its support zone. We expect the counter to bounce and retest its broken support. Hence, it is a good price point to initiate short positions.
The Dollar index has currently formed a bearish cypher pattern. It is currently facing rejections around the zone of 97.00. Hence we expect the index to move towards the values of 96.69 and 96.5.