After dismal data from Britain, EUR/GBP was off to the flyers yesterday. It could be interpreted as a wave pattern and is now forming wave 4. Further, it is close to a congestion zone which could act as strong support. Hence, we expect the pair to be bullish in the near-term.
The counter has been in bearish for more than 3 months without much of pullback. Now, it has broken a bearish trendline. Further, it has broken a critical price action level of 1.73344. Hence, we expect the pair to make a decent pullback rally from here and head to higher levels.
GBP/USD has formed a double top pattern at the high, which could be a potential lower high formation. Further, it has broken a critical support level of 1.25268. Hence, we expect the pair to be bearish in the short-term and head to lower levels.
The counter is been in an ABC correction format for the last 2 months. It completed its waves A and B and is now constructing its wave C. Further, the w and x leg of the wave C has been completed and it has kickstarted its y leg. Hence, we expect the pair to be bearish in the short-term.
The counter is currently forming an ABC correction. Further, it is forming wave B in the form of a bearish flag pattern. In the short-term charts, the price has formed a head and shoulder pattern at the upper parallel. Hence, we expect the pair to be bearish in the near-term.
The counter is slowly shifted its short-term to bullish from bearish. It broke out a descending channel and consolidated above the breakout by forming a cup and handle pattern. It broke off the cup and handle pattern yesterday and is consolidating above it now. Further, the entire portrays an inverted head and shoulder pattern, adding more strength to the bullish...
The counter is currently in an ascending channel pattern. It fell off recently from the high to lower parallel, where it found support. Now, it is marching up with momentum indicators like MACD and stochastic on the verge rendering a bullish crossover. Hence, we expect the pair to be bullish in the near-term.
The counter is currently consolidating in flag pattern after a strong sell-off. It could be interpreted as wave 4 as well. Further, the pair is finding resistance at higher levels. Hence, we expect the pair to move lower to complete wave 5.
The counter is currently in a triangle pattern, which shows uncertainty in the near-term. With no vaccine for the pandemic and no fresh stimulus around the corner, the market is expected to continue its range-bound movement. Hence, we expect the pair to move to the upper end of the triangle for now.
The counter is currently in a descending channel formation. It is currently forming a bearish flag formation. We expect the pair to make a bearish breakdown and head lower from here.
The counter has been confined into an asymmetrical pattern for the past few months, which depicts indecisiveness. Now, it has made a bullish breakout from the pattern. Further, it has formed an inverted head and shoulder pattern and broke out of the neckline. Hence, we expect the pair to be bullish in the short-term.
The counter has made a strong move from the low of 0.80 handle to 0.93 handle in just 3 months. The move could be attributed to a 5-wave pattern and it is now in corrective mode. It has completed waves A and B is going to kickstart wave C. The resistance zone around 0.93 handle proves to be a tough nut for the pair despite trying to take it down thrice. It makes a...
The counter has formed a bearish cypher pattern. Further, it has formed an evening star pattern in the hourly chart at the highs. A down move from here has a good chance to create a descending channel/bullish flag pattern from here. Hence, we expect the pair to be bearish in the near-term.
EUR/USD Wave Analysis The counter is currently is in a strong bull cycle. It has completed wave 4 in the form of a falling wedge pattern and has broken out of the pattern. Hence, we expect the counter to be bullish in the near-term.
The counter has been declining steadily ever since it hit the high of 71.663. However, it has now found support the levels of 68.226 amid testing it twice. It has formed a bullish pinbar followed by three white soldiers, which is a powerful reversal signal. Further, it has crossed the bearish trendline with a strong bullish candle. Hence, we expect the pair to...
GBP/USD has formed a right inclined head and shoulder pattern which signals extreme negativity in the counter. Further, it has broken the neckline and heading down strongly. We expect the pair to be extremely bearish in the short-term and head to much lower levels.
The counter has been declining ever since it hit the 52-week high of 1.14208. It found support with a trendline and trying to claw its back. It is evident with the formation of an inverted head and shoulder pattern, however, the neckline seems to be a tough nut. A break above the neckline can push the price either to resistive trendline or price action resistance...
After a strong show in the last weeks, crude oil needs to make an obvious correction. We expect the correction to be of ABC structure and it has already completed waves A and B. Further, the structure resembles a bullish flag pattern and the price is at the upper parallel now. Currently, the pair is forming a bearish flag pattern in the short-term charts and a...