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On November 9th, Silver reached and cleanly rejected the 26.00 high, which is a strong psychological resistance. At the same time, the price has bounced off the downtrend trendline and rejected the uptrend trendline, which has acted as the resistance. Almost immediately after, a sharp downside move followed, suggesting a strong selling pressure. The most recent...

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On the daily chart, the AUD/CHF has rejected the downtrend trendline along with the 88.6% Fibonacci retracement level at 0.6700. This was a second clean rejection of the 88.6% Fibs, which along with the bounce off the trendline, suggest a potential corrective move to the downside. Therefore, as long as the price remains below the key psychological and technical...

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On the Daily chart, GBP/USD could have produced a double top near the 1.3500 psychological resistance area. As can be seen, since then, a sharp correction down followed, reaching 1.2700 area. Currently, a correctional move up is taking place, and the most important fact is the rejection of the 78.6% Fibonacci retracement level at 1.3313. At the same time, GBP/USD...

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CHF/JPY bottomed out on October 30th when the price tested 113.78 low. What is important about this price level is that it corresponds to two trendlines. First is the lower trendline of the ascending channel and second is the lower trendline of the descending channel. It can be seen that CHF/JPY rejected this support area and produced a triple top near 113.80. ...

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On October 22nd, the GBP/NZD reached and rejected the 1.9800 psychological resistance level along with the 38.2% Fibonacci retracement. At this point, RSI has formed a bearish divergence, which eventually resulting in a fast price drop. Pair has declined by 400 pips in just 4 trading days, breaking below the uptrend trendline and 50 Exponential Moving...

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Recently GBP/AUD found the top while testing the 1.8525 high. It certainly looks like the second upside wave to the upside has come to an end, and right now, it could be the time for an ABC correction. The current wave B has reached 88.6% Fibs at 1.8492, which has been rejected. If this is, in fact an upcoming ABC correction, the price should stay below the 1.8492...

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On October 28, AUD/CAD broke above the downtrend trendline, suggesting the potential beginning of a stronger upside correction or even the end of the downtrend. Price has reached the 0.9433 high and corrected down towards 0.9369, where it rejected the 50 Exponential Moving Average as well as the support uptrend trendline. While the support seems to be formed it...

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In June this year, AUD/USD broke above the long-term downtrend trendline as well as the 200 Exponential Moving Average, suggesting the change in trend. After the breakout price corrected down and rejected the trendline, right at 0.6775 support. The next upside wave followed, taking the pair up to 0.7415, which was the highest point since August 2018. From...

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Throughout October 9-21, CAD/JPY has rejected the downtrend trendline twice. At the same time pair bounced off an extremely important resistance level at 80.58, which is confirmed by 61.8% and 88.6% Fibonacci retracement level. This might suggest that as long as 80.58 resistance holds, the selling pressure is likely to increase further. A few days ago, the price...

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The GBP/CHF has been range trading since September 28 up until October 19 when the price broke below the key support near 1.1770 as well as the uptrend trendline. However, after the breakout price went up sharply and cleanly rejected the 50% Fibs at 1.1909 while bouncing off the downtrend trendline at the same time. GBP/CHF could have produced a very top, before...

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On October 9, CHF/JPY broke above the downtrend trendline, which could have been the first indication of the bullish domination. However, since then the price has corrected down and hasn’t been trending much. Nonetheless, higher highs and higher lows are being printed, yet again suggesting an increasing buying pressure. Yesterday CHF/JPY rejected the downtrend...

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On September 21 S&P 500 Index broke below the ascending channel, which could have been the first stong bearish signal. Price has reached 3208 low and corrected up strongly. On the correction, the S&P 500 Index tested 3550 high where it cleanly rejected the 88.6% Fibonacci retracement level. Perhaps this was the very top of that pullback, from which price might...

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On September 15, EUR/CHF broke below extremely strong support near 1.0750, which was formed during the past few months. At the same time, it broke below the support trendline as well as 50 Simple and Exponential Moving Average, reaching 1.0687 low. The correction up followed and was stopped at 1.0748, where EUR/CHF reached the previously established support. This...

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The CAD/CHF seems to be repeating the previously produced pattern. In June, the price broke below the uptrend trendline and the 50 Exponential Moving Average simultaneously. After this, the consolidation phase started but eventually, there was quite a substantial price decline. On September 9, CAD/CHF tested and rejected a key psychological resistance at 0.7000,...

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Hello Traders! For the past two months, EUR/GBP has been consistently producing lower lows and lower highs while forming a descending wedge pattern. This is a very bullish pattern, which today got broken to the upside. Perhaps we are witnessing the beginning of a strong upside move, which might take place throughout this week. After the price broke above the...

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Hello Traders! Today GBP/NZD has tested and rejected the downtrend trendline, which has acted as the resistance. Price has found the top at 1.9760 and slowly started to move down. Recently we shared an analysis for the EUR/GBP currency pair where GBP is expected to get weak against the EUR. This analysis corresponds to the GBP weakness, but this time against the...

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The NZD/CAD pair has reached and rejected the middle trendline of the descending channel on October 15. Then the price went up and broke above the downtrend trendline and 50 Exponential Moving Average on the 4-hour timeframe. This could have been the first bullish sign from NZD/CAD, which might result in the corrective move up, but only as long as the recently...

forexboat Updated 

Hey Traders! The AUD/USD trend remains heavily bearish, considering the recent fast drop in price and lower lows/lower highs pattern. Pair went from 0.7243 high down to 0.7056 low in just 4 trading days, resulting in a 186 pips loss. Currently, the price has corrected down and rejected the previously established support, which right now is acting as the...