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GBP/NZD will rebound from the support level of 1.8833. The pair is also tracing a falling wedge which is bullish.
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AUD/CAD will breakout
AUD/CAD is nearing the upper wedge line and will breach it and breakout. The pair trace a A-B-C-D-E Triangle inside the wedge pattern.
Major Support and Resistant Levels are
1.0348
1.0196
1.0082
0.9886
0.9717
0.9580
Day Chart
Week Chart
Major Support and Resistant Levels are
1.0348
1.0196
1.0082
0.9886
0.9717
0.9580
Day Chart
Week Chart
Swissie may not leave the parity level just yet
Technical Tools
Support and resistance (S/R). Price levels, trendlines and Fibonacci retracements. Price action, candlestick and chart patterns. Simple moving averages (SMA). Commitments of traders (COT) indicator, which displays speculative positioning in FX futures market, used as a proxy for speculative positioning in spot FX market.
Weekly Chart
Swissie found strong demand near the intersection of the long term trendline that capped rallies in 2003, 2005, 2006, 2008, 2010 and 2015, and the t…
Support and resistance (S/R). Price levels, trendlines and Fibonacci retracements. Price action, candlestick and chart patterns. Simple moving averages (SMA). Commitments of traders (COT) indicator, which displays speculative positioning in FX futures market, used as a proxy for speculative positioning in spot FX market.
Weekly Chart
Swissie found strong demand near the intersection of the long term trendline that capped rallies in 2003, 2005, 2006, 2008, 2010 and 2015, and the t…
EUR/JPY Bullish Reversal
Weekly Elliott Wave Analysis
Correction wave C is very near to it's end at 109.48 where waves 5, A, B and C have created a Falling Wedge that gives a prediction of a new up trend wave starter or a moving side ways for the next period.
Daily Elliott Wave Analysis
Correction wave C on the daily view has not reached it's (V) end wave as it would be expected that wave (V) in proportion to wave (I) to end at 109.9 however the brexit news has weaken the EUR against JPY pushing wave (III) further end t…
Correction wave C is very near to it's end at 109.48 where waves 5, A, B and C have created a Falling Wedge that gives a prediction of a new up trend wave starter or a moving side ways for the next period.
Daily Elliott Wave Analysis
Correction wave C on the daily view has not reached it's (V) end wave as it would be expected that wave (V) in proportion to wave (I) to end at 109.9 however the brexit news has weaken the EUR against JPY pushing wave (III) further end t…
Kiwi still between 50 and 100 DMA
Kiwi has been contained between 50 DMA and 100 DMA for three weeks. It may look a bit heavy with lower highs and lower lows but what it has been carving out is a falling wedge which is generally a bullish pattern.
Strong support in 0.6700 - 0.6750 band (February highs, 100 DMA) has been holding well with 0.6650 - 0.6670 (late March low, 200 DMA) the next important area. Initial resistance at 0.6775 is followed by 0.6825 (April - May support/resistance line, 50 DMA).
Strong support in 0.6700 - 0.6750 band (February highs, 100 DMA) has been holding well with 0.6650 - 0.6670 (late March low, 200 DMA) the next important area. Initial resistance at 0.6775 is followed by 0.6825 (April - May support/resistance line, 50 DMA).
AUD/USD is bearish
AUD/USD is probably tracing the 4th wave of the 5 emotive elliot waves traversing withing a falling wedge.
For the analysis, elliot waves, falling wedge pattern and support and resistant levels are used.
For the analysis, elliot waves, falling wedge pattern and support and resistant levels are used.
Consolidation with bearish tilt
Currency Pair:Cad/Chf
Indicators: technical patterns and Sma50(red)+ Sma200 (blue)
Current price: 0.7343
Trend: consolidation
Possible trading range:0.72-0.75
Forecast:The presence of a falling wedge will encourage the bulls to try an upside breakout, but this will be a short-lived one because the fundamentals are against such a move. The loonie is under attack as oil prices continue to decline due to a higher oil output and weak demand
My target: 0.7423
Weekly chart (below)
Daily chart (below)
Indicators: technical patterns and Sma50(red)+ Sma200 (blue)
Current price: 0.7343
Trend: consolidation
Possible trading range:0.72-0.75
Forecast:The presence of a falling wedge will encourage the bulls to try an upside breakout, but this will be a short-lived one because the fundamentals are against such a move. The loonie is under attack as oil prices continue to decline due to a higher oil output and weak demand
My target: 0.7423
Weekly chart (below)
Daily chart (below)
Bullish prospects in the sight
Currency Pair:Aud/Chf
Indicators: technical patterns and Sma50(red)+ Sma200 (blue)
Current price: 0.7058
Trend: downtrend
Possible trading range:0.69- 0.73
Signals:The presence of a falling wedge on the daily chart plus a double bottom in process of completion on the 4 hour chart represents enough technical elements for a bullish outlook
Forecast:The SNB is present on the market in order to avert any CHF appreciations. On the other side the aussie may have some chances to experience a pause in i…
Indicators: technical patterns and Sma50(red)+ Sma200 (blue)
Current price: 0.7058
Trend: downtrend
Possible trading range:0.69- 0.73
Signals:The presence of a falling wedge on the daily chart plus a double bottom in process of completion on the 4 hour chart represents enough technical elements for a bullish outlook
Forecast:The SNB is present on the market in order to avert any CHF appreciations. On the other side the aussie may have some chances to experience a pause in i…
I am still bearish on this pair
Currency Pair:Eur/Usd
Indicators: technical patterns and Sma50(red)+ Sma200 (blue)
Current price: 1.2226
Trend: very strong downtrend
Possible trading range:1.20-1.25
Signals: THe fact that a recent bullish breakout from a falling wedge has been ignored by the bears gives me a lot of reasons to be short in the following period. THat breakout has appeared at around 1.2440 managing to send the price not higher than 1.2570.
Fundamentals: THe interest rates in the USA are ready to make a first lifto…
Indicators: technical patterns and Sma50(red)+ Sma200 (blue)
Current price: 1.2226
Trend: very strong downtrend
Possible trading range:1.20-1.25
Signals: THe fact that a recent bullish breakout from a falling wedge has been ignored by the bears gives me a lot of reasons to be short in the following period. THat breakout has appeared at around 1.2440 managing to send the price not higher than 1.2570.
Fundamentals: THe interest rates in the USA are ready to make a first lifto…
Further consolidation with a bullish tilt in the sight
Currency Pair:Gbp/Usd
Indicators: technical patterns and Sma50(red)+ Sma200 (blue)
Current price: 1.6020
Trend: very strong downtrend
Possible trading range: 1.58-1.63
Signals: if price manages to break the downtrend line belonging to that massive falling wedge( daily chart), then we must expect to see higher rates in pound/dollar as high as 1.63
Fundamentals: any rise in interest rates from BOE is quite far away at this moment as long as Europe struggles with disinflationary risk + a more hawki…
Indicators: technical patterns and Sma50(red)+ Sma200 (blue)
Current price: 1.6020
Trend: very strong downtrend
Possible trading range: 1.58-1.63
Signals: if price manages to break the downtrend line belonging to that massive falling wedge( daily chart), then we must expect to see higher rates in pound/dollar as high as 1.63
Fundamentals: any rise in interest rates from BOE is quite far away at this moment as long as Europe struggles with disinflationary risk + a more hawki…