After breaking a key downtrend line, it is bouncing at 1.2400, we expect a small correction to 1.2600
Right now we have two options in USDJPY. To see which direction it will take we will need to wait a few hours, the price action will determine the future of the next few days in the currency.
After rising almost 10% in a month and a half, we expect a small correction to the 400 level.
After a day with strong movements in the gold and the dollar, we expect a small lateral range before continuing the bullish channel and reaching 1800.
After having broken the bullish channel, indicating a possible end of trend in the GBPUSD, we can see a descending triangle (bearish chart pattern used in technical analysis that is created by drawing one trend line that connects a series of lower highs and a second horizontal trend line that connects a series of lows). Our plan is to make an entry if a bearish...
This is my view on XAUUSD. After the breakout we should wait a throwback to make our entry.
If the price breaks the low line of the bullish channel, we will wait for a small pullback to enter short, with the final target of 125.00.
This is my scenario in EURUSD, I expect a fall that ends at 1.1400 but for that it has to break many supports in the coming weeks. We will see how it evolves in the coming days, if it breaks the right shoulder pattern I will change my mind about the currency.
Here we may be facing a change of trend marked by a very well known pattern, head and shoulders pattern. After breaking the 1.77 level it fell to our marked support, in the case of breaking the trend line we have marked, we will wait for a small throwback to enter long.
Here we expect a bullish continuation, as we explained in the past EURAUD forecasts.
We expect a retest in descending upper trendline of the bearish channel. The key level is 0.71, a price that broke strongly on March 23rd and has now become a strong resistance.
The price is in a strong downtrend, having broken several small supports. We now expect it to reach key support at 1.16, once it reaches that price, we expect it to go back up to 1.19.
Last week the price broke the descending upper trendline of the bearish channel, showing the necessary bullish strength for a possible trend change. After this, it reached key level at 1.5600, where it had previously bounced twice since support was broken last February. It has now returned to the main trendline, we expect it to return to the 1.5600 level, with an...
After a false breakout and the retest in the support level 1.3750 we expect a rise up to the resistance level at 1.40.
Last week the price broke upwards the line that had been holding as resistance for the last few weeks. However, a bearish descending triangle has formed and coinciding with the opening of the US market and the news of stimulus in different sectors the price has broken the triangle indicating a possible continuation of the downtrend. For our entry we will wait for...