The USD/JPY pair was few pips shy off before bouncing back up on a 30 minute time frame. The momentum is changing hands from bears to bulls as the price has gone above the 50 day (shown in green) but still below the 100-day (shown in yellow) moving average. The price is still trading well below the downward trend line which means that the downward trend is still intact.Read More
The EUR/USD pair fell from its resistance level on a 30 minute time frame. This resistance level was given in our analysis on 10th of June. The price is trading below the 50-day (shown in green) and 100-day (shown in yellow) moving averages which show that the bulls are losing their grip. Moreover the 50-day MA is also about to cross the 100 day MA which could further strengthen the downward correction move.Read More
The USD/JPY pair has broken its support zone on a 30 minute time frame. This support was not a fresh level of support so there was much less probability of this support zone to hold and that was the reason that we marked this support zone a minor support zone. The price is trading below the 50 day (shown in green) and 100 day (shown in yellow) moving averages which represents that the bears are still in strong control.Read More
The USD/JPY pair bounced from its support zone on a 30 minute frame. This support zone was given in our analysis yesterday. The price has broken the upward channel (shown in orange lines) which represents the weakness for the price action. The pair is also trading below the 50-day and the 100-day moving averages which mean the bulls have lost their control.Read More
GBP/USD- Could a Double Top stop this upward move!
The GBP/USD pair has completed its ascending triangle pattern (shown by orange lines) on a 30 minute. This was mentioned in our daily briefing analysis yesterday. The price is trading well above the 50-day and 100-day moving averages which means that the bulls are still very much in control. The price action is also trading above the upward trend line and it has not violated this trend line which represents that the upward trend is still intact and it is strong.Read More
The AUD/USD pair has broken its major support on a daily time frame. The price is trading well below the 50-day and 100-day moving averages which represents a strong weakness in the price action. The pair is also trading below its downward trend line which further strengthens the above argument. As the price action is very weak, this could easily push the price towards its next support level which is near the 0.9167 level.Read More