Author: Forex Live

GBPCAD Wave Analysis

GBPCAD falling inside impulse wave (iii) Likely to fall to support level 1.5550 GBPCAD continues to fall inside the short-term downward impulse wave (iii), which started recently from the resistance area located between the resistance level 1.5950, upper daily Bollinger Band and the 61.8% Fibonacci correction of the downward impulse (i) from May. The downward […]

GBP/JPY Daily Outlook

Daily Pivots: (S1) 165.45; (P) 166.19; (R1) 166.65; More… Intraday bias in GBP/JPY remains neutral and outlook is unchanged. On the upside, decisive break of 168.67 resistance will resume larger up trend. Next near term target is 100% projection of 155.57 to 168.67 from 159.97 at 173.07. On the downside, below 164.45 minor support will […]

Technical Outlook and Review

DXY: On the H4, with RSI moving along an ascending trendline and prices moving along the ascending trendline, we have a bullish bias that bullish momentum will carry prices from our 1st support at 103.425 where the 127.2% fibonacci extension, 50% fibonacci retracement and swing low support are, after price has dropped to the 1st […]

AUDNZD Wave Analysis

AUDNZD reversed from support area Likely to rise to resistance level 1.116 AUDNZD currency pair recently reversed up from the support area located between the key support level 1.0940 (which has been reversing the pair from May), the lower daily Bollinger Band and the 38.2% Fibonacci correction of the upward impulse from March. The upward […]

USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9531; (P) 0.9575; (R1) 0.9608; More… Intraday bias in USD/CHF remains neutral and outlook is unchanged. Fall from 1.0048 is still seen as the third leg of the consolidation pattern from 1.0063. Strong support should be seen around 0.9543 to bring rebound. On the upside, above 0.9731 minor resistance will turn bias […]

GBP/USD Mid-Day Outlook

Daily Pivots: (S1) 1.2225; (P) 1.2279; (R1) 1.2320; More… Intraday bias in GBP/USD stays neutral as sideway trading continues. Outlook stays bearish as long as 1.2666 resistance holds. On the downside, break of 1.1932 will resume larger down trend from 1.4248. However, firm break of 1.2666 will suggest medium term bottoming and bring stronger rebound […]

EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.0550; (P) 1.0583 (R1) 1.0614; More… Intraday bias in EUR/USD remains neutral as consolidation continues. Further fall is in favor with 1.0786 resistance intact. On the downside, sustained break of 1.0339/48 will resume larger down trend. Next target is long term projection level at 1.0090. In the bigger picture, focus stays on […]

USD/JPY: Bulls Look for a Break Through Multi-Year Highs

Shallow pullback from new multi-year high (136.70) found solid ground at 134.26 (Fibo 23.6% of 126.36/136.70) and subsequent bounce accelerated on Tuesday, retracing over 76.4% of 136.70/134.26 pullback, and confirming that bulls regained full control. Overall picture remains firmly bullish as rally strongly accelerated in March and is on track for strong monthly gains in […]