USD/CAD:Bears are at front foot after cracking the downtrend line

July 26 , 2018

 

By observing the daily technical chart we can see that earlier pair was making successively higher highs and higher lows by taking the demand booster from an uptrend line. But after arriving 1.3380 level the demand was limited and it tumbled down to 1.3030 level. Well in the recent selloff the mentioned uptrend line has also breached out which means bears are playing at their front foot.

Continue reading “USD/CAD:Bears are at front foot after cracking the downtrend line”

AUD/USD: Pair may spring up to retest the downtrend line

July 25 , 2018

 

By looking at the daily chart we can see that pair is trading in a downtrend channel which is generating bearish signal from long term to intermediate term point of view and it is making successively lower lows and lower highs. China plans to boost domestic consumption to stimulate economic growth.AUD/USD still stuck in familiar levels as uncertainty weighs more. From past couple of days bulls are leading in the pair and it seems like they are getting upside to retest the downtrend line.

Continue reading “AUD/USD: Pair may spring up to retest the downtrend line”

AUD/JPY: Trading in horizontal trend channel, just sell

July 24 , 2018

 

From the daily outlook of technical chart we can see that pair is trading in horizontal channel or we can see the range bound territory. Well these types of channel are very profitable opportunity as pair trades in a predictable way. Buy at support line and sell at resistance level, the same thing is going on in the pair for the time being. Well pair is falling down and it is expected that pair will test the support line which is lying at 80.44 level.

Continue reading “AUD/JPY: Trading in horizontal trend channel, just sell”

EUR/GBP:Will receive supply pressure or strong demand?

July 20 , 2018

 

In our last report in the first week of July we have mentioned that buy this pair at 0.8650 level and we are expecting that readers have made smart earning from this fabulous rally as it has arrived at 0.8950 level. This pair becomes too volatile at there is choppy sessions in EUR/USD or GBP//USD. This pair is known for hedge pair. Well pair is making highers highs and higher lows on the daily technical chart and arrived at 0.8950 level which is a key resistance level.

Continue reading “EUR/GBP:Will receive supply pressure or strong demand?”

GBP/JPY:Rounding bottom pattern is in process of formation

July 17 , 2018

 

As we have mentioned in our previous report that bulls are controlling the game and taken the charge so just buy this pair and I hope traders have taken benefit of this fabulous opportunity. Well pair is making successively higher highs and higher lows on daily basis and heading towards north side. Presently pair is trading and sustaining above the moving average lines and providing us further bullish signal.

Continue reading “GBP/JPY:Rounding bottom pattern is in process of formation”