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During the past 5 trading days, EUR/GBP has been trading near the 0.9085 resistance level. This resistance is confirmed by a 50% Fibonacci retracement level, applied to the March-April corrective move down. It can be seen, that on December 2nd, there was a clear rejection of that Fibs, followed by a few spikes. Nonetheless, there was no break and close above the...

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Since the beginning of November NZD/USD has been rising consistently. On November 4th, the price cleanly rejected the ascending channel, but on the next day, it broke to the upside under strong buying pressure. Fibonacci retracement indicator was applied to the correction down, where NZD/USD rejected the ascending channel. It shows that on December 2 price has...

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On November 9th CAD/CHF broke above multiple resistances, suggesting the change in trend. From bearish to bullish. Price broke above the downtrend trendline, 200 Simple Moving Average and previous higher high. At the same time, 50 SMA crossed above the 200 SMA on the daily timeframe, forming a Golden Cross, which could also be a sign of a trend reversal. As can...

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On the Daily chart, CAD/JPY has started to produce higher highs and higher lows. Back on June 5th, the price tested the high at 81.89, after which a 340 pip wide consolidation has started. Right now, CAD/JPY is trapped between the 78.00 support and 81.40 resistance area. Two most recent bounces show that 78.00 support has been rejected, after which the price went...

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Since early August, EUR/USD has been in the consolidation phase, while the price was stuck between 1.1925 resistance and 1.6000 support area. But consolidation came to an end just a few days ago when EUR/USD broke above the key psychological level at 1.2000. During the past 3 days alone, the price has risen by nearly 250 pips, which is quite a substantial...

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Back on March 25th, GBP/JPY broke above the long-term downtrend trendline, after which an uptrend has begun. Fibonacci was applied to the first corrective move down after the downtrend trendline breakout. It shows that on June 5th, GBP/JPY clearly rejected the 161.8% Fibonacci retracement at 139.71. But after 3 months, GBP/JPY went up and broke above the Fibonacci...

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Since early November, AUD/USD price has been on a steady rise while remaining above the 50 Simple Moving Average and producing higher highs and higher lows. But since November 10th, the RSI oscillator started to form a bearish divergence, implying the potential downside move, which could be either a correction or even a trend reversal. The key resistance is...

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The GBP/NZD could have reached the bottom with a potential of a long term trend reversal. This forecast is based on the most recent price action, where GBP/NZD broke above the downtrend trendline and, on the corrective move down, rejected the downtrend and the uptrend trendline. Nonetheless, there is one important resistance level to overcome before/if the price...

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Today, AUD/JPY rejected the 77.00 psychological resistance area for the 4th consecutive time, implying the importance of this supply zone. Moving back to November 18th, AUD/JPY broke below the critical level, which is 75.79. This is the level where AUD/JPY rejected the simple uptrend trendline as well as the 50 Exponential Moving Average, which occurred on...

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Right now, for the USD/JPY, the lower lows and lower highs pattern is in place. Price continues to decline while trading within the descending channel. During the past few days, USD/JPY has been rejecting the 50 Exponential Moving Average, which has been acting as the resistance. But looking at today’s’ price action, there was a clean bounce off the 50% Fibonacci...

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The overall trend for the GBP/CHF remains bullish since the higher highs and higher lows pattern is in place. Early November, GBP/CHF rejected the uptrend trendline, after which price broke above the previously established resistance at 1.1969. On the pullback, this resistance area became the support and was rejected along with the 50 Exponential Moving Average. ...

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On November 3rd, EUR/GBP broke below extremely important support, which is 0.9000 psychological level. It is clear that lower lows and lower highs are being produced once again, suggesting the validity of the downtrend. On November 12th, EUR/GBP has cleanly rejected the previously formed demand level at 0.9000, which this time clearly was acting as the...

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GBP/USD is clearly trending up as the price is printing higher highs and higher lows. At the same time, the Pound-Dollar continues to reject the simple uptrend trendline along with the 50 Exponential Moving Average on the 4-hour timeframe. And finally, on November 23, GBP/USD broke above the ascending channel, suggesting further bullish pressure. This is the long...

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The GBP/AUD trend remains bullish as up until now price stays above the previously established low at 1.7844. After the price has tested the high at 1.8525 on October 22nd, the correction down followed. Price has dropped down to 1.7936, after which, higher high and higher lows pattern started to appear. On November 16, GBP/AUD rejected the uptrend trendline and...

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On November 11, CAD/CHF formed a triple top near 0.7040, after which the price went down and broke below the 50 Simple and Exponential Moving Average. The correction up followed, which was stopped by 50% Fibonacci retracement level, which has been rejected cleanly at 0.6987. The most recent price action shows that CAD/CHF broke below the uptrend trendline while...

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On November 11th, the EUR/GBP has tested 0.8860, where it produced a double bottom. After that price went up sharply, showing how strongly bulls were defending this support area. EUR/GBP has reached 0.9000 key resistance and corrected down to 0.8930 support area. This support is confirmed by two Fibs, 50% and 23.6%. And the resistance is also confirmed by two...

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On November 11th, USOIL cleanly rejected a psychological resistance while bouncing off the $43.00 level. Then the price went down, and on the pullback up, cleanly rejected the 23.6% Fibonacci retracement level at $42.17. There was an attempt to break above this resistance, although only a spike has been produced, without a confirmed breakout on the 4-hour...

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Based on the Elliot Wave theory, GBP/CHF could have initiated a 4th corrective wave down, which eventually should result in an uptrend continuation. Although currently, wave B, of the ABC corrective move down could have ended. This is because of the clean rejection of the 78.6% Fibonacci retracement level at 1.2121. Therefore, as long as this resistance holds,...