EUR/USD Technical Analysis
~~ 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.
AUD/USD Technical Analysis
~~ 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.
NZD/USD Technical Analysis
~~ 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.
USD/CAD Wave Analysis
- 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.
CAD/JPY Technical Analysis
~~ 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.
EUR/USD Technical Analysis
~~ 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.
GBP/USD Technical Analysis
~~ 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.
AUD/USD Technical Analysis
~~ As we mentioned earlier, AUD/USD has formed a gramophone pattern.
~~It has now formed an inverted head and shoulder pattern the supportive trendline and has broken out.
~~ And the RSI indicator has also replicated the same pattern, which validates the strength in the counter.
~~ Further, the prices are now trading above a strong support level of 0.71727.
~~ Hence, we expect the pair to be bullish from here on.
USD/CAD Technical Analysis
~~ 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.
EUR/USD Technical Analysis
~~ 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
GBP/NZD Technical Analysis
~~ 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 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.
NZD/JPY Wave Analysis
~~ 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.
EUR/JPY Technical Analysis
~~ 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.
NZD/USD Technical Analysis
~~ The counter is currently is descending channel pattern.
~~ It hit the lower parallel and bounced off with a ascending channel pattern.
~~ Hence, we expect the pair to trade with positive bias in the short-term.
USD/CHF Technical Analysis
~~ 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 upper end of the range for now.
EUR/GBP Technical Analysis
~~ 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.
EUR/CAD Technical Analysis
- 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.
NZD/USD Technical Analysis
~~ 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 the declines.
EUR/CHF Technical Analysis
~~ 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.
Thank you very much. This is very nice information for the new traders and also old traders.
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