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The movement of AUDUSD towards the support line of a Triangle is yet another test of the line it reached numerous times in the past. This line test could happen in the next 2 days, but it is uncertain whether it will result in a breakout through this line, or simply rebound back to current […]

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 1.2317 may materialize within the next 16 hours.

EURCHF is approaching the support line of a Falling Wedge. It has touched this line numerous times in the last 11 days. If it tests this line again, it should do so in the next 3 days.

The movement of AUDJPY towards 94.5740 price line is yet another test of the line it reached numerous times in the past. We could expect this test to happen in the next 3 days, but it is uncertain whether it will result in a breakout through this line, or simply rebound back to current lines.

EURUSD is approaching the resistance line of a Channel Up. It has touched this line numerous times in the last 2 days. If it tests this line again, it should do so in the next 11 hours.

AUDJPY has moved higher by 1.96% from 92.246 to 93.942 in the last 14 hours.

GBPJPY has moved higher by 1.43% from 161.82 to 163.466 in the last 11 hours.

USDJPY has moved lower by 1.19% from 134.616 to 132.882 in the last 8 hours.

A movement of 5.02% over 20 days on GBPUSD doesn’t go unnoticed. You may start considering where it’s heading next, a continuation of the current downward trend, or a reversal in the previous direction.

Those of you that are trend followers are probably eagerly watching EURCHF to see if its latest 0.79% move continues. If not, the mean-reversion people out there will be delighted with this exceptionally large 16 hours move.