Barclays is trading in a downward channel on a 4 hour time frame. The price is showing more and more weakness as it has failed to touch the upper line of the channel for the past two times which represents weakness for the stock. The RSI is trading near the 30 mark which is considered as an oversold zone however, it has not crossed this zone which is usually a better odd enhancer. The price has pierced the Bollinger band which represents an increase in the volatility and a potential minor mean reversion however, the bias could still be to the downside.Read More
The GBP/USD fell from its resistance on a 30 minute time frame as predicted. This resistance zone was given in our analysis on the 4th November. However, the price has pierced the Bollinger band and it is trading away from its 20 day moving average which means that the volatility for the pair is high. The piercing of the Bollinger band does have an importance when this takes place at an important level of support or resistance but in this case we do not have any major support, just a very minor support.
The USD/JPY has broken its upward channel on a 30 minute time frame. However, the price is finding its support near the 100 day moving average, but it is important to point out that the lower line of this upward channel could act as a resistance line. Moreover, as the price is trading below the 50 day (shown in green) and near the 100 day (shown in yellow) moving averages, this confirms that the bulls are losing their control.Read More
The EUR/USD is moving towards its resistance on a 4 hour time frame. The Fibonacci retracement shows that the price has crossed its 61.8% retracement level and it is more than likely that it could complete its 100% move. The pair is trading well above the 50day (shown in green) and 100 (shown in yellow) day moving average which confirms that the bulls have strong control of the price. However, as it is approaching near its resistance level, a correction could also be on the card.Read More
The USD/JPY has just broken its downward trend line on a 30 minute time frame. This means that the correction may be over and the price is ready to continue its upward trend The pair is also trading above the 50 day (shown in green) and near the 100 day (shown in yellow) moving averages which is a further confirmation that the bulls are ready to take the control. But, if the price fails to break this 100 day moving average then we could see the price visiting the minor support level mentioned below.Read More
The EUR/USD fell from its resistance zone on a 30 minute time frame as predicted. This resistance zone was given in our analysis on the 4th of December.
The pair is finding its support near the 50 day (shown in green) and 100 day (shown in yellow) moving average, but a break of these averages will be a further confirmation of the weakness in the price. However, if the pair does bounce back from this support, the resistance at 1.3636 could still act as a major hindrance for the upsideRead More