Continued downward momentum from 1.6231 resulted in the pair posting net daily losses yesterday.
Selling posted in Asia.
Previous support located at 1.6025.
Levels close to the 50% pullback level of 1.6327 found sellers.
A bearish Head and Shoulders is forming.
Trend line support is located at 1.6017.
The formation has a measured move target of...
Day Trade - Expires at 9pm today
The medium term bias remains bearish.
The continuation lower in prices through support has been impressive with strong momentum and shows no signs of slowing.
Bespoke resistance is located at 1.7946.
Prices are extending lower from the bearish flag/pennant formation.
Further downside is expected and we prefer to set...
1.2090 is a major resistance, while this level is not broken, the Midterm wave will be downtrend.
. The RSI bounced from the downtrend #1 and it prevented price from more gains.
. A peak is formed in daily chart at 1.1840 on 06/07/2018, so more losses to support(s) 1.1510, 1.1440, 1.1180 and more depths is expected.
There is no trend in the market and the price is in a range bound, but we forecast resumption of downtrend.
While the RSI resistance #1 at 60 is not broken, the probability of price increase would be too low.
A trough is formed in the daily chart at 0.8785 on 05/17/2018, so more gains maximum to Trend Hunter Sell Zone (0.9110...
SEK weakness continues to reign , previously we saw a potential double bottom (DB) form with the February low (pattern later confirmed with a break of the neckline in April) and had further reason to be convinced of the reversal with an A-B-C reversal pattern forming off the same Feb low.
After reaching a YTD high of 8.9159 we saw a ner retest of the DB...
We're predicting that the price of #EURUSD from a Intraday perspective will decline 35 pips to 1.2401. Hopefully within the next couple of hours we should see the price of EUR/USD play out accordingly. Watch the before & after shots above . For the latest trading updates follow us on on Tradingview and feel free to share thoughts in the comment section below.
AUD/USD is finding support above the 0.7145 low of May, as oversold short-term studies unwind.
A corrective bounce is highlighted, targeting the 0.7310 break level from November, but any further gains should find difficulty clearing congestion around 0.7400, as the Tension Indicator (not shown) continues to weaken and mixed background studies keep investor...
There has been no change in the dominant USD/JPY trend, with prices extending the rally from the 101.15 low of November.
Focus is now on the 115.60 retracement and 115.96 break level from January, but any immediate break is expected to fade beneath congestion around 117.00, as short-term studies are already overbought and stochastics remain overstretched.
The anticipated minor corrective pullback has been seen, with prices unwinding lower before posting a sharp bounce from the 99.43 low of 8 December.
Immediate focus is back on the 101.80, (61.8%) retracement of the 2001-2008 fall, the 102.05 monthly high of 24 November and 102.15 high of March 2003, but mixed daily studies suggest potential for consolidation...
AUD/USD is extending the bounce from the 0.7311 monthly low of 21 November, but difficulty is seen sustaining further gains as short-term studies turn mixed.
Congestion around 0.7600 is expected to provide a strong barrier, as investors remain cautious, with prices to settle into consolidation above 0.7305.
An unexpected break below 0.7311, however, will turn...
EUR/USD is balanced in choppy trade above the 1.0538 low of December 2015, as short-term studies turn mixed.
Fresh losses are looked for in the coming weeks, however, as momentum studies and the Tension Indicator, (not shown), continue to weaken, with a break below critical multi-year support at the 1.0456 low of March 2015 opening up the 1.0330 year low of...