EURCAD recently broke below a rising wedge formation visible on its 4-hour time frame, signaling that bearish pressure has returned. Price dipped to the 1.4800 area before showing signs of a pullback. Applying the Fibonacci retracement tool...
USDCAD remains in downtrend from 1.3537, the bounce from 1.3164 is likely consolidation of the downtrend. Resistance is at 1.3300, as long as this level holds, the downtrend could be expected to continue and next target would...
USDJPY’s bearish movement from 114.36 extended to as low as 108.81. Near term resistance is at the descending trend line on the 4-hour chart. As long as the pair is below the trend line, the bearish movement...
AUDUSD’s bullish movement from 0.7371 extended to as high as 0.7635. Key support is now at 0.7519, as long as this level holds, the bullish movement could be expected to continue and next target would be at...
GBPUSD’s bounce from 1.2634 extended to as high as 1.2817. However, the bounce is likely consolidation of the downtrend from 1.3047. As long as the pair is below 1.2850 resistance, the downtrend could be expected resume, and...
After touching 1.1285 resistance, EURUSD pulled back to 1.1193, suggesting that lengthier consolidation for the uptrend from 1.0569 (Apr 10 low) is needed. Deeper decline is still possible and the target would be at 1.1130 area. Resistance...
GBPJPY just bounced off its channel support again and could be gearing up for a correction to the resistance at the 141.50 minor psychological mark. If this keeps gains in check, the selloff could resume back to...
Short term GBPJPY Elliott Wave view suggests the decline from 5/10 high shows a 5 swing sequence, thus favoring more downside. Decline from 5/10 high is unfolding as a double three Elliott Wave structure. Down from 5/10 peak (148.11), Minor wave...
The necessity of forex education cannot be described in words. As a trader or an interested person who is reading this, you know that this market is very risky. Traders are always at the risk of losing...
GBPUSD recently broke below 1.2755 support on its daily chart, indicating that the short term bullish movement from the March 14 low of 1.2109 had completed at the May 18 high of 1.3047 already. Further decline would...
