USD/JPY – Trading in a Wedge pattern
The USD/JPY pair is trading in an upward wedge pattern on a 4 hour time frame. The price has pierced the Bollinger band – the upper line of this band, and this confirms that teh volatility is inflating.
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EUR/USD- Under selling pressure
The EUR/USD has broken it upward trend line on a 4 hour time frame. This confirms that the uptrend has weaken and the bears are taking in control of the price. The price has broken the 100 day moving average shown in red colour which is a further confirmation of the above statement.
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AUD/USD- Trading above its upward trend line
The AUD/USD pair is trading above its upwards trend line a daily time frame. This confirms that the trend is biased towards the upside and as long as we stay above this trend line, the upward trend remain intact.
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GBP/USD- Fell from Our Identified Resistance Zone- 62 pips in profit
The GBP/USD pair fell from Our Identified resistance zone on a 4 hour time frame. The resistance zone was given in our analysis on the 3rd of March.
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Copper- Fundamental vs Technical
Metals bounced back up as traders are giving up to remain skew on the downside. We do envisage that we may have formed a bottom for the time being and the may bias remain towards the upside. Central banks are providing their abutment to spur growth and this works in metal’s demand.
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EUR/GBP – Price testing its upward trend line
The EUR/GBP pair is trading above its upward trend line on a daily time frame. This affirms that the trend is skewed towards the upside however, it is important to emphasize that the price is testing the strength of this upward trend line and a break of this line will confirm a weakness for the price.
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