USD/CHF The resistance level at 0.9700 has finally broken the upside. The next targets would be the resistance levels at 0.9750 and 0.9800 (which would require a strong buying pressure to continue). There may be some pullbacks along the way, but bulls would be able to remain victorious. The situation in the market remains upbeat. […]
The rally from 1.6671 has been much stronger than expected. The break above short-term important resistance at 1.6981 has invalidated the possibility for another stab to the downside to a new low below the 1.6671 low. This means wave C of ii now is complete and wave iii higher is developing. Short-term, we should see […]
When the European market opens, some Economic Data will be released, such as Consumer Confidence and German PPI m/m. The US today will not release any Economic Data, so, amid the reports, EUR/USD will move in a low to medium volatility during this day. TODAY’S TECHNICAL LEVEL: Breakout BUY Level: 1.2402. Strong Resistance:1.2395. Original Resistance: […]
In Asia, Japan will release the Tertiary Industry Activity m/m and National Core CPI y/y data, and the US today will not release any Economic Data. So, there is a probability the USD/JPY will move with a low volatility during this day. TODAY’S TECHNICAL LEVEL: Resistance. 3: 108.13. Resistance. 2: 107.92. Resistance. 1: 107.71. Support. […]
Wave B is topping, but still has the potential to reach the 133.55 — 133.68 area before caving in and start moving lower in wave C. To confirm wave B has completed and wave C is taking over a break below support at 132.08 is needed. A break below 132.08 will call for a decline […]
Overview: Pivot: 0.9589. The USD/CHF pair didn’t make significant movement this week. There are no changes in my technical outlook. The bias remains bullish in nearest term testing 0.9809 or higher. The USD/CHF pair continues to move upwards from the level of 0.9589. Yesterday, the pair rose from the level of 0.9589 (the level of […]
EUR/AUD is testing its resistance area at 1.5997 (76.4% Fibonacci retracement, 61.8% Fibonacci extension, 50% Fibonacci retracement) where we expect to see a reversal, causing the price to drop to its support at 1.5923 (61.8% Fibonacci extension, 50% Fibonacci retracement). Stochastic (89, 5, 3) is approaching its resistance at 95% where we expect to see […]
Overview: The NZD/USD pair opened below the daily pivot point (0.7260). It continued to move downwards from the level of 0.7260 to the bottom around 0.7242. Today, the first resistance level is seen at 0.7278 followed by 0.7300, while daily support 1 is seen at 0.7219. Furthermore, the moving average (100) starts signaling a downward […]
GBPUSD is approaching testing its support area at
In November 2017, evident signs of bullish recovery were expressed around the depicted low (0.6780). An inverted Head and Shoulders pattern was expressed around these price levels. The price zone of 0.7140-0.7250 (prominent Supply-Zone) failed to pause the ongoing bullish momentum. Instead, a bullish breakout above 0.7250 was expressed on January 11. That’s why a […]