October 26, 2018
EURO is the base currency in the pair and jumping up in all the pair whereas GBP is not getting bullish momentum. This pair is known as fabulous hedged pair so it has got momentum towards upside. Pair has moved higher in a fresh wave of demand on the latest Brexit headlines whereby talks are said to be on hold as May’s team can’t agree.
ECB leaves its policy rate unchanged and reduced monthly QE purchases to $15 billion until the end of the year – Draghi recognized economic weakness, Eurozone fragility, but expecting the underlying inflation to pick up towards the end of the year. GBP is subject to more intense pressure running into year-end as the time for achieving a workable Brexit deal is now running very short.
By witnessing the daily chart we can see that bulls have taken the charge and they will complete this journey of V shape recovery. The way bulls are dominating the bears it seems like they are approaching the previous swing’s high which lie at 0.9100 level. The recent candles are full of bullish momentum and indicating further bullish signal and presently pair is trading above all major and minor EMA lines.
From technical prospective we can observe that pair has rectraced almost 61.8% level and it bounced from there and now heading towards north side. Short term trend is up and odds are in favor of bulls. The intraday bias remains bullish on the pair as long as pair is trading above 0.8800 level on the daily chart. A bullish crossover on MACD indicator is supporting the bulls.RSI is also favoring the bulls from positive territory.
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October 15, 2018
By observing the daily technical chart we can see that yellow metal has made a low of $1160 level few weeks ago and then it bounced from there and made a high of $1200 level, after arriving the $1200 level it consolidated almost one and half month at these levels. Both bulls and bears were unable to move on either side and it looks like both bulls and bears were fighting with each other and trying to take the pair at their downside.
Continue reading “Gold: Bulls Opened Neck From Short Term Consolidation Phase”
October 05, 2018
By looking at the daily technial chart we can see that pair was trading in downtrend channel with full of bearish momentum and heading towards south side. From technical prospective bears have breached the key support level of 1.2871, which is the psychological level and marked a new low of 1.2450 level on the daily chart.
Continue reading “GBP/CHF: Pair Has Violated Downtrend Line With Rounding Bottom Pattern”
Sep 20 , 2018
The recent uptrend in the EUR/AUD seems to be performing a correction as the pair broke below a rising trend line and formed a fresh lower high and lower low on the 4-hour chart.
From a technical standpoint, it seems like more weakness might be ahead for the pair as the correction is progressing, with the 38.2% Fib retracement level at 1.6060, acting as a potential short-term support for the price. Further below, the 61.8% Fib retracement level at 1.5875 might be a tough nut to crack as it also aligns with the upper bounds of July’s trading range.
Continue reading “EUR/AUD: Bears are snatching the bite from bull’s mouth at resistance zone”
Sep 18 , 2018
By looking at the daily chart we can see that pair is making suceessively higher highs and higher lows on day to day basis; even it is heading north side with aggresively , it seems like bulls only bulls are leading and dominating the bears. Well after a strong bullish strom bulls have arrived near the resistance level which is a make or break level for bulls. If it gives valid breakout of the resistance level then it will appraoch the 1.8700 level in short term.
Continue reading “GBP/AUD: Bulls arrived at resistance level; will it break ?”