The counter has been in the declining mode for the last 2 days. It made an inverse head and shoulder and has broken the immediate trendline as well. Hence, we expect the pair to be bullish in the near-term.
The counter has completed a 5-wave bear cycle. It is now poised to make a bullish corrective rally. Hence, we expect the pair to be bullish in the near-term.
The counter is now on the verge of completing a 3-wave bear cycle. It is now approaching a strong demand zone which also coincides with the 61.8% retracement of the entire rally. We expect the pair to kickstart a fresh bull cycle from here.
The counter is currently in a 3-wave bear cycle. Further, it is currently forming wave B in the form of a bearish flag pattern. Hence, we expect the pair to find resistance around this area and commence its wave C.
The strength of Swiss Franc bewilders us as it was able to contain the hottest currency like Euro. Despite EUR/USD & EUR/JPY moving to great heights, it is still in bearish territory and the counter has absorbed intense buying pressure. Technically, the formation resembles a round top and so a sell-off is on the cards when the Euro corrects against erstwhile currencies.
As suggested earlier, the counter found support at the supportive trendline and bounced off. Now, it has broken the resistive trendline as well and consolidating just above it. We expect the pair resume to bull trend and head to the immediate resistance marked in the chart. The support zone marked in the chart can cap any declines.
The counter is currently sliding down in a descending channel. It hit the upper parallel and is coming down strongly. Further, the RSI indicator has formed a head and shoulder pattern. Hence, we expect the pair to be bearish in the near-term.
The counter is currently consolidating in a wedge pattern. It hit the lower end of the range, formed an exhaustion candle and rose up sharply. Now, it is sliding to a demand zone where we expect buying activity to resume in the counter.
The counter is currently in sideways consolidation. It made a false breakout at the lower end of the range and has crept in and now forming a symmetrical triangle pattern. We expect the triangle to render a bullish breakout and push the price to the upper end of the range for now.
The counter is currently is a descending channel pattern. It hit the lower parallel and bounced off with an ascending channel pattern. Hence, we expect the pair to trade with positive bias in the short-term.
The counter had multiple supports- trendline, bullish flag support and price action support. But it has broken all the levels and bulls are trapped big time. Hence, we expect some long unwinding move in the counter.
The counter is currently formed a flat ABC corrective wave. It broke out from a bear flag pattern, tested the broken support, and is now coming down with strong momentum. Hence, we expect the pair to be bearish in the near-term.
The counter has formed a topping out formation in the near-term. It made a double top and has broken a key support level of 1.99508. Further, the round number of 2.00 can act as a psychological barrier in the near-term. Though a pullback to the top cannot be ruled out, we still expect the pair to be bearish in the near-term.
The counter has made a bullish breakout from the consolidation. It is now taking support and broken resistance, which is a powerful sign. Further, the consolidation can be interpreted as wave 4 and it is gonna make a move to wave 5. Hence, we expect the pair to be bullish in the near-term.
The counter has been trading with a bearish bias for long. The down move can be plotted with a pitchfork and the pair is making its last leg of the move down. Hence, we advise traders to go long at the lower parallel. And the upswing has a great chance to break the upper end of the range.
As we mentioned earlier, AUD/USD has formed a gramophone pattern. It has now formed an inverted head and shoulder pattern. The prices are now trading above a support level of 0.71727. Hence, we expect the pair to be bullish from here on.
The counter is forming a descending triangle at the high. It made a fake-out at the resistive trendline and then sold off only to form a bearish flag pattern in the near-term. We expect the bearish flag to break down and the price to move to the short-term support zone.
The counter has been rising sharply from the low. The entire structure looks like a bearish cypher pattern. We expect the pair to face resistance at the reversal zone marked in the chart and move back to support level.