The USDCHF pair structured a “W” pattern on four hourly chart. After completing the pattern, the prices started its southward journey similar to what happens after the formation of “W” pattern. During its journey, the price took a small pullback towards the key resistance area of 0.9940-50. But the prices are expected to soon continue its southward journey. The...
The GBPUSD pair has formed a broadening rising wedge pattern on daily basis. The currency pair took a pull back from the upper trend line of the pattern and started its southward journey. A closing below the 21 period moving average opens the door for further downside move towards the lower trend line of the pattern near 1.2424. We can see, every time the prices...
The EURUSD prices breached the higher trend line of the downward channel and registered a pullback to it. The trend line turns out to be the key support as the prices takes an impressive rebound. Thus, the failure to went back to the downward channel brightens more changes for a bullish run. The main target will be at 1.1250 before which the traders can book...
A good sell in XAGUSD at 18.00 as the prices are likely to take a pull back from the upper trend line of the falling channel. We can see, the pair trades in a falling channel pattern since September beginning and every time the silver prices hit the upper trend line of the channel, it reversed off and vice versa. The pair can possibly repeat the scenario. So, the...
The NZDCAD pair gives a confirmation for an upside move after posting a closing above the sloping resistance trend line. The traders are well advise to grab the buy opportunity as soon as possible with the first target at 0.8493 and the second target at 0.8597.
Stop Loss can be placed at 0.8305
The currency pair has been trading in a symmetrical channel pattern since past two months and recently gives a break above the upper trend line of the channel. The traders are advised to consider it to be a good buying opportunity. You can enter a trade once the pair gives a daily closing above resistance trendline. The first target can be at 24.728 and second...
The currency pair trades in a descending channel pattern on four hourly chart since past two weeks. We can see every time the prices hit the declining trend line it pulled back to the lower flat trend line and vice versa. Now, the pair points towards a sell signal as it recently reversed off the key resistance area of 0.7476 and is likely to move towards 0.7437...
The currency pair forms double top pattern after reversing from the key resistance area of 1.6600. Now, the GBPCAD is likely to go continue its recent bearish move towards 1.6323. Plus the downside move has been supported by the negative divergence in RSI indicator as the price chart forms higher highs in correspondence to which the RSI forms higher lows. The...
The EURNZD pair trades in an ascending triangle pattern on intraday chart since 23rd July 2019 .The pair is currently trading near the flat resistance trend line of the pattern at 1.7540. It is widely expected that EURNZD will take a rebound from this resistance trend line and follow a journey towards the ascending trend line. So, the traders are advised to enter...
USDMXN is giving a positive signal on intraday basis. The price chart forms the lower lows in correspondence to which the RSI indicator forms lower highs. So, the traders are advised to grab the buy opportunity as soon as possible.
Trade Information:
Buy at 19.4564
Target- 19.6845
Stop Loss- 19.3220
The AUDNZD pair has been trading in a rising channel pattern since 8th August 2019 on intraday chart, forming some new highs. Though, the strong upside move has been restricted by the upper trend line of the channel while the bearish moves has been continuously taking support from the lower trend line. Recently, the prices pulled back from the upper area of the...
The currency pair has been trading in a rising wedge pattern since past two weeks on intraday chart. Recently, the pair bounced from the lower trend line and is in the process of hitting the upper trend line of the pattern. The traders are advised to take a long position with the target of 0.8493.
Stop Loss- 0.8446
The EURUSD pair is trading in a falling channel pattern on intraday chart since 25th June 2019. The pair is likely to go down and hit the lower trend line of the channel as it recently faced a rejection from the key resistance area of 1.1054. Even before hitting the upper trend line of the channel, the currency pair reversed off as the bulls were completely...
The USDJPY is currently trading just below the resistance trend line on intraday chart since 20th April 2019. The pair is likely to take a pull back from the resistance area like it did in past. So, the traders are advised to watch a reverse off from resistance of 107.900 and once it happens, then the traders can go for a short position. The target could be set...
The currency pair has been trading in descending parallel channel on intraday chart since mid June 2019. Every time the pair tries to breach the upper trend line, it pulled back to the lower trend line and vice versa. Recently, USDCHF reversed off its upper trend line and is likely to first hit the middle area of the channel around 0.9797. Once the pair dives...
The AUDJPY pair registered a breakout from the key resistance area of mid 72.00s after consolidating in a range of 71.02- 72.50 for past one month. The prices already started showing its results and gave a closing above 72.50 level. But there is more opportunity for the buyers and they are suggested to enter a position with a target of 74.00.
SL- 72.00
AUDCAD is likely to breach one and a half month old resistance trend line on intraday chart. Though, the currency pair hit the trend line multiple times in past but each time failed to rupture it. However, a breakout is expected this time. So, the traders are suggested to watch a cross above the trend line carefully and enter a long position once the price gives...
The currency pair trades in a rising channel pattern on hourly basis since the beginning of August 2019. Every time the price hit the upper trend line of the channel, it turns towards the lower trend line of the channel and vice versa. Recently, the pair reversed off its lower trend line and is likely to move upside with a first target at 0.9884. The second...
