The counter has recovered from the lows with a strong V-shaped rally. It has now crossed a critical resistance level of 80.162. The structure resembles a bearish shark pattern and we expect the pair to rally to the completion zone for now.
As suggested earlier in our premium analysis, the counter is currently in a bull cycle. It has completed wave B and is showing exhaustion at the lower level. Hence, we expect the pair to kickstart its wave C from here.
The resistance zone of 0.668-0.67 has been a tough nut for NZD/USD. It failed to cross it despite three valiant efforts and the one time it crossed it was rejected at higher levels. So, the bulls are running for cover and we expect the pair to head down to lower levels in search of support.
The counter has formed a gramophone pattern. It has hit the upper trendline and is coming down with strong momentum. We advise traders to go short when the pair breaks the support level of 0.71745 and expect a sell-off to lower trendline.
EUR/USD is currently in a corrective consolidation. It has completed the waves A and B and is now due for wave C. Further, the resistance of 1.19 proves to be a tough nut for the bulls and hence we expect the pair to retreat to the support.
The counter is currently in sideways consolidation mode. It is currently in its lower end of the range and the short-term indicators show signs of oversold condition. Further, the wave interpretation deems a wave C move to the upper end of the range. Hence, we expect the pair to be bullish in the near-term.
The counter is currently in a short-term bear cycle. It has completed wave 4 in the form of a bearish flag pattern and has commenced wave 5 with a strong engulfing candle. Hence, we expect the pair to be bearish in the near-term.
The counter has broken down two critical supports. One- price action support level of 0.66128. Two- Bullish Trendline. It indicates the counter has changed its short-term to bearish and we advise traders to go short.
CAD/JPY has recovered from the low with a strong V-shaped rally, which is a sign of reversal. Further, the could interpret it as an ABC correction. Hence, we expect the pair to trade with bullish bias from here.
The counter has completed a bear cycle and is due for a correction. It formed an inverted head and shoulder pattern in the lower timeframes and has broken out. Hence, we expect the counter to be bullish in the near-term.
The counter is in a strong bull trend. It consolidated for a brief period within a bullish flag and now has broken out. Further, it has formed an inverted head and shoulder pattern within the flag which indicates the absorption of selling pressure. Hence, we expect the counter to remain bullish in the short and near-term.
The counter is currently in a short-term bull run. It is now consolidating within ranges to form wave 4. We expect the pair to move to the support zone (marked in the chart) and then head higher.
The counter is currently in a strong bull run. It is forming a parabolic pattern, which suggests further strong upmove is on the cards. Also, the pair is forming a bullish pennant pattern in the short-term charts. We expect it to surge sharply higher for the day.
in a long-term bear cycle. It is currently in its second leg of wave B. Further, it resembles a flag formation and is coming down after hitting the upper parallel. Hence, we expect the pair to be bearish and move to the lower parallel from here.
The counter is currently at the strong support of a trendline, which could be contemplated as triangle pattern. According to the short-term waves, the counter has completed wave B of a bear cycle and is due for a wave C. Hence, we expect the pair to be bullish and head to higher to levels.
The counter has completed its first leg (wave A) of the bear cycle with a 5-wave formation. Now, it is at a strong resistance zone which can trigger the wave B correction. Hence, we expect the pair to be bearish in the near-term.
The pair did a long accumulation in the form of an inverted head and shoulder pattern. It finally broke out and has been consolidating in an ascending triangle (continuation) pattern since then. Hence, we expect the pair to have a strong bull run when it breaks the resistance level of 122.5.
After a strong bull run, the counter is currently in corrective (ABC) mode. It has completed wave A and is forming its final leg of wave B. It is now up against a resistive trendline and a break above it can take it higher. Hence, we advise traders to initiate long positions only when an hourly candle closes above the trendline.