The counter has been coiling within a 300 pip range. Now, it is at the lower end of the range and taking the support. We expect the pair to head higher to the upper end of the range.
USD/JPY made a strong impulse move two weeks before. But the rally fizzled out at the high and since then the pair is retracing its move. Now, it has found support around the 103.7 mark. A move beyond the resistance 104.2 can invite bulls once again in this counter and hence we advise traders to go long as soon as the pair breaks above it.
The counter has completed a 5-wave bull cycle. It is now poised to make an ABC correction and break below the support 0.68655 validates it. Hence, we advise traders to go short after the support breaks.
EUR/AUD Wave Analysis The counter is correcting in an ABCDE formation. It has completed wave D and is taking support at the trendline. Further, the the stochastic oscillator is forming an inverted head and shoulder at the lows. We expect the pair to move higher to complete wave E.
The counter has been trapped in a triangle pattern. It is currently trading around the resistive trendline. We expect the pair to find resistance and move down to the lower trendline.
The counter has been consolidating within a bearish flag pattern after the deep slide. It hit the upper parallel of the pattern and then made a strong sell-off. We expect the pair to move lower and break down in the short-term.
The counter was in a strong downtrend and it broke long-term support at 1.71435. Unable to sustain the breakdown, it has recovered with a V-shape rally. We expect a short-covering rally in the counter.
The counter is currently in an ascending formation. It has hit the upper parallel which also coincides with a rejection zone. Hence, we expect the pair to retreat to lower levels from here.
The hope (virus cure) rally has fizzled out. The pair hit the rang top, formed a head and shoulder pattern, and has broken down now. We expect the pair to hit the lower end of the range in the next few sessions.
The counter has been in a downtrend since the start of this year. The price was consolidating in a narrow for the last few months which could be interpreted as wave 4 of Elliott wave. Now it is on the brink of rendering a bearish breakout. We expect it to breakdown and complete wave 5.
The counter has formed a dragon pattern. In a downtrend, it made a 38% retracement from the low and then rendered a false breakout. Further, it is on the verge of breaking out the trendline (a break validates it). Hence, we advise traders to be long in the counter once it crosses 1.730.
The counter has been consolidating in a sideways correction for the last few days. It could be interpreted as an ABC correction and the recent down move as wave B We expect the pair to find support in this zone head higher.
The counter had completed its long-term wave 4 with an ABC correction. It had bounced off from the lows strongly by crossing the resistance at 1.1706. Further, if the price sustains at a higher level for the day, it could be interpreted as a morning star formation. We expect the pair to race away to highs and complete the wave 5.
The upside movement of the pair is capped by a bearish trendline. It attempted a breakout but fizzled out and the price action has formed an H&S pattern instead. Hence, we expect the pair to be bearish in the near-term.
As we suggested earlier the counter is in an ABC correction and pushed down at the resistance zone. NOw, the bearish flag formation has also broken down, validating the wave C. Hence, we expect the pair to be bearish in the short-term.
After completing a 5-wave bull cycle, the counter is currently in an ABC correction phase. It is now at a strong price action support zone and at the final stage of wave A. Hence, we expect the pair to be bullish in the near-term.
The counter has bounced off strongly from the support 1.31, after trapping the bears with a fakeout. Now, it has taken down a bearish trendline as well. Hence, we expect the pair to be bullish in the short-term.
After completing a bearish cycle, the counter is limping up to complete ABC correction. It is forming a wave A in the form of a bearish flag. We expect it to render a bearish breakout to form wave B.