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Tag: ChartPatterns

USD/JPY Price Analysis: Break of 135.55 is key for further upside

USD/JPY Price Analysis: Break of 135.55 is key for further upside USD/JPY Price Analysis: Break of 135.55 is key for further upside

USD/JPY is showing a three-day uptrend, settling around the weekly high. The sustained break of the monthly resistance line and the bullish signal from the MACD favor the buyers. The bears should wait for the confluence of the ascending triangle for conviction. The USD/JPY it has recovered about 65 pips from the Asian session low […]

AUD/USD Price Analysis: Inverted Head and Shoulder Pattern Confirmed, Targets 0.7440

AUD/USD Price Analysis: Inverted Head and Shoulder Pattern Confirmed, Targets 0.7440 AUD/USD Price Analysis: Inverted Head and Shoulder Pattern Confirmed, Targets 0.7440

AUD/USD is poised to finish at fresh nine-week highs, buoyed by improved risk appetite. On the daily chart, an inverted head and shoulders points to the 0.7440 area as a profit target. AUD/USD buyers are looking for a break above the 200 DMA with a target of 0.7440. The AUD/USD advances for the third day […]

BoJ: The Fed’s actions could have several repercussions on the Japanese economy and on prices in the short term

BoJ: The Fed’s actions could have several repercussions on the Japanese economy and on prices in the short term BoJ: The Fed’s actions could have several repercussions on the Japanese economy and on prices in the short term

“The Fed’s decision could affect the movements of the currency and asset markets, so we must carefully observe the evolution of the situation“, stated on Thursday the deputy governor of the Bank of Japan (BOJ), Masayoshi Amamiya. Featured Comments We expect the Fed to rein in inflation and deliver stable growth in the US. This […]

GBP/JPY Price Analysis: Weakened around 164.40, above the 20-day EMA

GBP/JPY Price Analysis: Weakened around 164.40, above the 20-day EMA GBP/JPY Price Analysis: Weakened around 164.40, above the 20-day EMA

GBP/JPY loses 0.06% in a swing session. Sentiment remains negative, limiting GBP/JPY gains. The GBP/JPY falls and trims Monday’s earnings on bearish sentiment in financial markets, prompted by US Walmart blaming inflation as the main reason for lowering its earnings forecast. Meanwhile, Russia has cut gas flows through Nord Stream 1, and EU countries have […]

GBP/JPY Price Analysis: Double bottom on the hourly chart pushes the pair above 164.70

GBP/JPY Price Analysis: Double bottom on the hourly chart pushes the pair above 164.70 GBP/JPY Price Analysis: Double bottom on the hourly chart pushes the pair above 164.70

GBP/JPY rallies 200 pips and hits a daily high of 165.08. Sterling was buoyed by market sentiment, despite US data reigniting recession fears. GBP/JPY remains range bound after hitting a double bottom target at 164.50. The GBP/JPY erases last Friday’s losses and gains close to 1% on Monday, amid a better market mood, with US […]

USD/CHF Price Analysis: Bounces off 100 DMA but struggles around 0.9650

USD/CHF Price Analysis: Bounces off 100 DMA but struggles around 0.9650 USD/CHF Price Analysis: Bounces off 100 DMA but struggles around 0.9650

USD/CHF got a bid ahead of the FOMC meeting with mixed sentiment. From a medium-term perspective, USD/CHF has a bullish bias; could retest 0.9900. USD/CHF Price Analysis: A bearish pennant has emerged which, once broken, would see the pair drop towards 0.9580. The USD/CHF is rebounding from last week’s low and 100-day moving average (DMA) […]

USD/JPY Price Analysis: Buyers lose steam as price nears the bottom of a rising wedge

USD/JPY Price Analysis: Buyers lose steam as price nears the bottom of a rising wedge USD/JPY Price Analysis: Buyers lose steam as price nears the bottom of a rising wedge

USD/JPY teeters in a 70 pip range but remains in losing territory, down 0.27%. Risk appetite took a toll on demand for the greenback, which lost 0.80%, as the US dollar index shows. USD/JPY Price Analysis: The rising wedge on the daily chart could open the door towards the July lows around 134.70. The USD/JPY […]

USD/CHF Price Analysis: Sellers struggle around 0.9545

USD/CHF Price Analysis: Sellers struggle around 0.9545 USD/CHF Price Analysis: Sellers struggle around 0.9545

The USD/CHF daily chart illustrates a double top formation, but strong buying pressure below 0.9540 has limited any downside move. The risk aversion drive bolstered appetite for the Swiss franc and weighed on the US dollar. USD/CHF 1 hour chart is sloping to the upside, but unless buyers reclaim 0.9600, the pair is vulnerable to […]

USD/CHF Price Analysis: Double top in play but sellers’ failure at 0.9520 could spark a test of 0.9600

USD/CHF Price Analysis: Double top in play but sellers’ failure at 0.9520 could spark a test of 0.9600 USD/CHF Price Analysis: Double top in play but sellers’ failure at 0.9520 could spark a test of 0.9600

USD/CHF bounces off daily lows and remains above the 50% Fibonacci retracement level on the H1 chart. Disappointing US economic data triggers a counter-cyclical move with the US dollar rising rather than falling. The USD/CHF daily chart formed a double top that is in play, but the failure of USD/CHF sellers to break above 0.9520 […]

EUR/USD Price Analysis: Heads towards 1.0600 as bulls stabilize above 50 EMA

EUR/USD Price Analysis: Heads towards 1.0600 as bulls stabilize above 50 EMA EUR/USD Price Analysis: Heads towards 1.0600 as bulls stabilize above 50 EMA

An ascending triangle formation reinforces the bulls of the pair. The EMAs of 20 and 50 periods have shown a bullish cross that indicates a rise in the pair. A firm break of the 60 level on the RSI (14) adds to the bullish filters. The EUR/USD has been bullish during the Asian session on […]