USD/CHF Technical Analysis
~~ The counter has found support at the lows.
~~ It is forming a base in the form of an inverted head and shoulder pattern.
~~ We expect the pair to soar when it crosses above the neckline. Hence, buy only above 0.89200.
EUR/USD Wave Analysis
~~ The counter is currently in a 3-wave bear cycle.
~~ Now, it has completed its wave B and is poised to commence its wave C.
~~ The engulfing bearish candle has marked the beginning of wave C and hence we expect the pair to be bearish in the near-term.
EUR/JPY Technical Analysis
~~ The counter has broken out of the critical resistance of 126.8-127.
~~ Further, it has broken out after strong consolidation in the form of flag patterns in price action and RSI indicator.
~~ Hence, we expect the breakout to sustain and catapult the prices higher.
GBP/USD Technical Analysis
~~ GBP/USD is forming an ascending triangle pattern in the short-term charts.
~~ Further, the continuation pattern has been formed after a breakout in the long-term charts.
~~ Hence, we expect the pair to be bullish in the short-term.
I am more into short-term forex trading because I don’t have to tie up my funds for long periods. I like the benefits of trading on thousands of opportunities when currency rates change with high volatility. I never thought of long-term investments in the forex market.