Resistance line breached by GBPUSD
GBPUSD has broken through the resistance line which it has tested twice in the past. We have seen it retrace from this line before, so one should wait for confirmation of the breakout before trading. If this new trend persists, a target level of around 1.1860 may materialize within the next 7 hours.
Will AUDJPY have enough momentum to break support?
AUDJPY is heading towards the support line of a Channel Up and could reach this point within the next 2 days. It has tested this line numerous times in the past, and this time could be no different from the past, ending in a rebound instead of a breakout. If the breakout doesn’t happen, we […]
EURCHF approaching support of a Channel Down
EURCHF is approaching the support line of a Channel Down. It has touched this line numerous times in the last 10 days. If it tests this line again, it should do so in the next 2 days.
A possible start of a bearish trend on USDCNH
USDCNH has broken through a support line of a Channel Up chart pattern. If this breakout holds true, we may see the price of USDCNH testing 6.8220 within the next 3 days. But don’t be so quick to trade, it has tested this line in the past, so you should confirm the breakout before taking […]
What’s going on with USDCAD?
Those of you that are trend followers are probably eagerly watching USDCAD to see if its latest 0.58% move continues. If not, the mean-reversion people out there will be delighted with this exceptionally large 16 hours move.
A final push possible on USDCHF
USDCHF is heading towards 0.9635 and could reach this point within the next 11 hours. It has tested this line numerous times in the past, and this time could be no different, ending in a rebound instead of a breakout. If the breakout doesn’t happen, we could see a retracement back down to current levels.
Possible breach of support level by EURCHF
EURCHF is moving towards a support line which it has tested numerous times in the past. We have seen it retrace from this line before, so at this stage it isn’t clear whether it will breach this line or rebound as it did before. If EURCHF continues in its current trajectory, we could see it […]
AUDJPY – getting close to psychological price line
AUDJPY is moving towards a support line. Because we have seen it retrace from this level in the past, we could see either a break through this line, or a rebound back to current levels. It has touched this line numerous times in the last 13 days and may test it again within the next […]
Will USDCHF have enough momentum to break resistance?
USDCHF is heading towards the resistance line of a Channel Up and could reach this point within the next 2 days. It has tested this line numerous times in the past, and this time could be no different from the past, ending in a rebound instead of a breakout. If the breakout doesn’t happen, we […]
GBPUSD approaching support of a Channel Down
GBPUSD is approaching the support line of a Channel Down. It has touched this line numerous times in the last 20 hours. If it tests this line again, it should do so in the next 5 hours.