USDCHF breaks above 1.1277 resistance and reaches 1.1287 only. Pullback would more likely be seen to retest 1.0864 key support next week. A break down below this level will indicate that the rebound from 1.0366 has completed,...
USDJPY breaks below 89.72 key support, suggesting that a cycle top has been formed at 94.61 on daily chart. Deeper decline is expected to test 87.13 previous low support. If this level gives way, the next target...
AUDUSD drops sharply to as low as 0.6537 level. Deeper decline is still possible to test the support of the lower border of the price channel, now at 0.6300. Initial resistance is at 0.6810, rise above this...
GBPUSD consolidated in a range between 1.4350 and 1.5722 for several weeks. Rebound to 1.6500 zone would more likely be seen before breaking below 1.4350 level. Key resistance is now located at 1.5372, a break above this...
EURUSD’s downtrend extends further to as low as 1.3026 level. Deeper decline to 1.2800 to reach the next cycle bottom on daily chart is still possible next week, and the next cycle bottom is nearing. Initial resistance...
The head and shoulders pattern is a term used in technical analysis that refers to a pattern in which there is one high peak between two lower peaks, thus resembling a head and two shoulders. The lowest...
Analysts expect the Dollar to maintain its strength as global investors continue to see the American currency as a safe haven. Today, traders are advised to follow the Core CPI and Consumer Sentiment figures from the U.S....
USDCAD breaks above 1.2394 resistance, suggesting that a short term uptrend is underway. Further rise is expected to 1.2700 zone, and sideways consolidation in a range between 1.1761 and 1.3015 is expected in next several weeks.
AUDUSD breaks below 0.6755 key support and reaches as low as 0.6560 level. Deeper decline is now in favor, target would be at the bottom border of the price channel on daily chart, now at 1.6285 level....
A channel is formed when the currency fluctuates in the middle of two parallel trendlines, i.e. between the resistance and support levels. To display a trend channel, we first draw a trendline. In the event of an...
