Technical Analysis | Sharp Trader

USD/CAD- Bears are taking the control

The USD/CAD pair is trading in a symmetrical triangle pattern on a 60 minute time frame. The price is dropping towards the lower line of this pattern and only piercing of this pattern will determine the projection of this pattern. The volatility is high as the pair has pierced the Bollinger band and it is…

Technical AnalysisBy sharptrader

USD/JPY- Fell from Our Identified zone, 162 pips profit

The USD/JPY pair fell from Our Identified resistance zone (mentioned below) on a 4 hour time frame. The touched the resistance zone of 125.29 -125.83 which represents a stop loss of 68 pips and moved lower all the down to 123.71- representing an opportunity of 162 pips approximaltely. This is more than 2:1 ratio which…

Technical AnalysisBy sharptrader

EUR/USD- Building its upward momentum

The EUR/USD has broken its downward channel on a 4 hour time frame pattern. The price has moved towards the upside and initially this move was capped by the resistance zone mentioned below. The resistance zone pushed the price lower all the way to 1.1071 where it was pushed back up by the 20 day…

Technical AnalysisBy sharptrader

Gold- Trading in an upward Channel

Gold is trading in an upward channel pattern on a 60 minute time frame. The price has bounced nicely back up three times times every time it has touched the lower line of this channel confirming that traders are willing to buy at any pull backs and as long as this trend continues, the bias…

Technical AnalysisBy sharptrader

Crude Oil – Downward wedge formed

Crude oil is trading below its downward trend line on a 4 hour time frame. The price is also trading in a downward wedge pattern and as along as the price is trading within this wedge, we expect the price to continue its downward trend. The volatility for oil has eased off as the price…

Technical AnalysisBy sharptrader

USD/JPY- Symmetrical triangle projects 128 target

The USD/JPY pair is trading above its upward trend line on a 4 hour time frame. The price has broken its symmetrical triangle pattern towards the upside. The projection if completed, could easily push the price near the 128 mark. However the symmetrical triangle patterns are ranked towards the bottom due to their reliable pattern…

Technical AnalysisBy sharptrader