This pair is currently following a channel we are looking for this pair to come up to top trend line and reverse and got short
USDCAD has been in an uptrend and continues to create HH and HL . with the value of the USD Dollar continuing to go up expect this pair to go up to monthly resistance of 1.39966 zone ..
We have AUDUSD continuing to make strong downfall after the breakout of the rising wedge formation..We look for this pair to continue its overall fall as the USD Dollar continues to because stronger and the true support being 0.69100 area
USDCAD currently in an up tree and is continuing to follow the trend line also the value of the USD is playing a big part the in continuation of the uptrend vs CAD Dollar.
AUDUSD broke out of consolidation and blow right through support level of 0.74600. should reach TP 0.73059 as that is a very strong support level .. Also the Value of the USD is continuing to be strong which is helping to drive the price down.
USDJPY, as shown below, managed to break below red bullish channel. This may suggest that price is starting to correct down towards 109.40-109.20 after which it will move up once again before finishing its corrective move downward.
Overall we are looking short on this pair. Looks like a Correction face is in play with the potential of reaching the "D" Extension on the bearish ABCD formation. However, as we have oversold both on the RSI and Stochastic we can expect an mini ABCD formation on the 1 Hour time frame. So we can expect a pull back to retest the minor resistance and upward trend...
EUR/CHF slid after the bearish pin bar candlestick pattern that we covered yesterday in our New York Session Watch. Before the price fell from the 1.2115 resistance level, there's another two candlestick patterns which add odds to the downside which is the doji candlestick pattern and the inside bar candlestick pattern. The current support level is at 1.2080 and...
We have a false break of the inside bar candlestick pattern on AUD/USD. First, the price broke below the low of the inside bar candlestick pattern but then moved back up and closed within the inside bar candlestick pattern which traps the sellers who sold at the break of the inside bar candlestick pattern. Note that the Stochastic and Commodity Channel Index (CCI)...
NZD/JPY formed an inside bar candlestick pattern at the mid band of the bollinger band and there's another bullish pin bar candlestick pattern after the breakout of the inside bar candlestick pattern which shows more buyers are coming in. Note that the stochastic indicator was showing oversold at the time the price formed the inside bar candlestick pattern which...
GBP/USD has been in a strong down trend since last month but seemed to find some ground in the last few days. There's an inside bar candlestick pattern formed on this pair, so the price could potentially move slightly higher to the resistance level and fill the gap before continuing to move lower. The stochastic and Commodity Channel Index (CCI) are showing the...