Technical Analysis | Sharp Trader

GBP- Fundamental Vs Technical Analysis

Fundamental GBP/USD. There may not be any firecracker in BOE’s Bank Rate

The FTSE 100 is trading higher during the early hours of trading. However, the volume is thin in the market as we are not seeing any bigger trades from investors ahead of the Bank of England’s meeting. I am not expecting any surprise or any kind of firework which could color up the sky in this meeting, as the UK’s economy is already building up the steam. You may think that Mr Carney has inherited a good fortune however, he also has inherited tough challenges, as the committee has pledged to keep the interest rate at 0.5% which presents a clear problem when it comes to sustain the inflationary pressure.

Technical AnalysisBy sharptrader

EUR/USD- Broken its support zone – What now

The EUR/USD pair has broken its support zone on a 30 minute time frame as predicted. This represents a clear weakness for the price action and the bias could certainly be to the downside. The pair is also trading below the 50 day (shown in green) and the 100 day (shown in yellow) moving averages which confirms that there the bears are in full control. The volatility for the pair is also low as the price is also trading within the Bollinger band and close to its 20 day moving average.

Technical AnalysisBy sharptrader

GBP/USD- A bullish pattern formed

The GBP/USD pair has formed a symmetrical triangle on a 30 minute time frame as predicted. These patterns usually break in the direction of the trend and as this pattern has already broken to the upside, this could easily push the price near the yellow rectangle area shown on the chart. Moreover, the GBP/USD is also trading below the 50 day (shown in green) and 100 day (shown in yellow) moving averages which confirm that the bulls in full control.

Technical AnalysisBy sharptrader

Vodafone- In its Monthly resistance Zone – Will you short the stock ?

Vodafone is trading near the resistance zone on a 4 hour time frame. This resistance zone is coming from a monthly time frame and the last time the price was in this zone was in march 2001. The price is piercing the Bollinger band at this level and piercing of the Bollinger band does have a significant important specially when this is taking place at an important level of support or resistance because it has a tendency to stop the move or reverse the direction of the trend.

Technical AnalysisBy sharptrader

EUR/USD- Bounced from its Support zone- What now

The EUR/USD pair has bounced from its support zone on a 30 minute time frame as predicted. This support zone was given in our analysis on 29^th July. The price also pierced the Bollinger band at this level and piercing of the Bollinger band does have a significant important specially when this is taking place at an important level of support or resistance. The pair is also trading above the 50 day (shown in green) but below the 100 day (shown in yellow) moving averages which confirms that there the bulls are the control.

Technical AnalysisBy sharptrader

GBP/USD- Bounced from Support zone- What now!

The GBP/USD pair bounced from its support zone a 30 minute time frame as predicted. This support zone was given in our analysis on 28^th of August. However, the price is trading below the downward trend line and broken this line only for a brief moment before the bears have pushed the price back down again. Moreover, the GBP/USD is also trading below the 50 day (shown in green) and 100 day (shown in yellow) moving averages which confirm that the bears in full control.

Technical AnalysisBy sharptrader