Technical Analysis | Sharp Trader

GBP/USD- Strong Bounce From Its Support as Predicted

The GBP/USD pair has bounced from its support zone on a 30 minute time frame. This support zone was given in our analysis yesterday. The price action is trading above the 50 day (shown in green) and the 100-Day (shown in yellow) moving averages which show that the bulls have taken the control. The pair was also able to break its downward trend line which further confirms the above argument. The volatility for the pair has dropped as well because the price is trading within the Bollinger and close to its 20-day MA.

Technical AnalysisBy sharptrader

USD/JPY – Price in a support zone, Upward trend could continue

The USD/JPY pair is trading within the support zone on a 30 minute time frame. The price is trading below the 50 day (shown in green) and 100 day (shown in yellow) moving averages which confirms that the bulls are losing their control. However, the pair is still trading above the rising trend line and has not broken this line once which confirms that the upward trend is still intact.

Technical AnalysisBy sharptrader

GBP/USD- Bounced from its support as predicted – What now

The GBP/USD pair is bouncing from its support zone on a 30 minute time frame. The price action is trading above the 50 day (shown in green) but below the 100day (shown in yellow) moving averages which show that the bears are losing their grip. However, the pair is still trading below the downward trend line which could keep the downward on the GBP/USD unless the price breaks this downward trend line. A close of the price above this trend could determine the further continuation of the upward move.

Technical AnalysisBy sharptrader

USD/JPY – Price Respecting its Upward Trend But Resistance Zone Has Arrived

The USD/JPY pair is trading near its resistance zone on a 30 minute time frame. The price is trading above the 50 day (shown in green) and 100 day (shown in yellow) moving averages which confirms that the bulls are in control. Moreover, the pair is also trading above the rising trend line and has not broken this line once which further confirms the strength of this upward trend.

Technical AnalysisBy sharptrader

EUR/USD- Forming a bullish pattern, Will you trade?

The EUR/USD pair has formed a symmetrical triangle pattern on a 30 minute time frame. If this pattern does break out towards the upside it could easily push the price towards the yellow rectangle shown on the chart. Historically speaking, symmetrical triangles do break towards the upside in a downward trend. However, if this does break towards the downside, then the price could go towards the pink rectangle shown on the chart.

Technical AnalysisBy sharptrader

GBP/USD- Bounced from its support as predicted – What now

The GBP/USD pair bounced from its support zone on a 30 minute time frame. This support zone was given in our analysis 26^th of June. The price action is trading above the 50 day (shown in green) and 100day (shown in yellow) moving averages which show that the bulls have taken the control.

Technical AnalysisBy sharptrader