USD/CHF faced solid resistance around the 100 day EMA and slumped 70 pips from its highs. USD/CHF could fall towards 0.9500 unless the buyers retake the 200 hourly EMA at 0.9665. The USD/CHF extends its weekly losses and falls for the third day in a row, falling below the 100 day EMA and below 0.9600, […]
Tag: SupportResistance
USD/JPY Price Analysis: Yen hovers around 136.60 ahead of July Fed meeting
USD/JPY is trendless as investors await the Fed’s monetary policy decision. Sentiment remains bearish, keeping major currencies in choppy trading ranges. USD/JPY Price Analysis: USD/PY has a long-term bullish bias, but is in a range in the short term. The USD/JPY remains low during the American session as investors brace for the Fed’s monetary policy […]
AUD/USD Price Analysis: Moving towards 0.7000 after establishing above the 200 EMA
A breakout above the 38.2% Fibo retracement and the 200 EMA reinforces a bullish reversal structure. The RSI (14) has moved into a bullish range of 60.00-80.00, indicating pure bullish momentum. A bullish crossover, represented by the 20 and 200 EMAs adds to the bullish filters. The AUD/USD pair is hovering in a tight range […]
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 […]
USD/CAD Price Analysis: Sellers attack weekly support around 1.2950
USD/CAD pulls back from monthly high and flirts with short-term support line. The RSI is overbought and the MACD is about to make a bearish cross, causing sellers to appear. The weekly uptrend line and horizontal support from early May limit immediate moves. Buyers have a tough road ahead of the yearly high set in […]
Intensive sellers will trail near the 2-year low at 1.0640.
-637864610189673470.png "Intensive sellers will trail near the 2-year low at 1.0640.")
The explosion of the Darva Box chart formation will unbalance the asset. Falling 20 and 50 period EMAs affirm that the decline is intact. The RSI (14) is on the verge of falling below 40.00. EUR/USD opened almost flat at 1.0806 and rose to 1.0815 but responding sellers dragged the pair below the opening price […]
A pause at the 20 EMA points to a minor retracement near 127.50
-637860317840387954.png "A pause at the 20 EMA points to a minor retracement near 127.50")
Inventory distribution at multi-year highs has led to a pullback in USD/JPY. The advance of the EMA to 100 continues to support the uptrend. A pullback towards the trend line could attract possible buying of the pair. The USD/JPY pair is pulling back at the start of the European session on Wednesday on profit taking […]
The bulls attack the 200 EMA at 1.3140
-637847137346325944.png "The bulls attack the 200 EMA at 1.3140")
Pound bulls are looking for a break of the symmetrical triangle at 1.3140 for further upside momentum. GBP/USD has been facing resistance near the 200 EMA at 1.3135. The RSI (14) in a range between 40-60 indicates indecision. The GBP/USD pair is trading in a tight range between 1.3086 and 1.3146 amid tightening volatility. The […]
New six-year high at 120.50
-637835255018508650.png "New six-year high at 120.50")
USD/JPY bulls renew six-year high around 120.50. Firm bulls above the 10 and 20 period EMAs. The RSI (14) oscillates in a range between the 60 and 80 level, which adds to the filters to the upside. The USD/JPY pair moves steadily higher on Tuesday. The pair has opened around 119.47 and has continued to […]
Look to find trendline support around 0.7150
-637816262381788386.png "Look to find trendline support around 0.7150")
AUD/USD is likely to continue moving in a range between 0.7150-0.7220. The 50 EMA is moving above the 200 EMA, which adds to the filters to the upside. The uptrend line from 0.7051 will continue to provide support for the pair. The AUD/USD pair is looking to consolidate in a range of 0.7150-0.7220 for the […]