GBP/USD bearish retracement was expected. But the impulsiveness of the decline is very strong, which is 1 of the main reasons for the potential end of the uptrend A strong bullish bounce could create a bullish ABC up (blue arrows). Whereas a bear flag (grey arrows) should send the GU pair lower again in a […]

As expected, Gold has made the move lower to 1755 zone. The downtrend is expected to continue towards 1720. If the market makes a pullback to the 78.6-88.6 zone we should see another leg of selling. We can also see a trend line which adds to the confluence. 1765-60 is the first target but we […]

During Friday morning hours, the XAU/USD exchange rate was testing the lower boundary of the falling wedge pattern. From a theoretical point of view, it is likely that the price for gold could reverse north and increase in the nearest future. Note that the nearest resistance, formed by the 55-, 100– and 200-hour SMAs, is […]

On Thursday, the USD/JPY currency pair exceeded the weekly R1 located at 106.17. It is likely that now the pair could gain support from the given pivot point and the 55-hour SMA near 106.01. Thus, some upside potential could prevail in the market within the following trading session. Meanwhile, note that the exchange rate could […]

The GBP/USD exchange rate has declined to the 1.3900 level. It is unlikely that some upside potential could prevail in the market due to the resistance area formed by the weekly PP and the 200-hour SMA in the 1.3960/1.4000 area. The rate could target the psychological level at 1.3800. In the meantime, note that the […]

Yesterday, the EUR/USD currency pair reversed south from the psychological level at 1.2240. It is likely that the exchange rate could be pushed down by the resistance area formed by the 55– and 100-hour SMAs, as well the weekly R1 in 1.2160/1.2186. Thus, the rate could target the weekly S1 at 1.2040. Meanwhile, note that […]

Since the beginning of January, the EUR/PLN currency pair has been trading within a falling wedge pattern. From a theoretical point of view, it is likely that the exchange rate could continue to decline within the predetermined pattern in the medium term. The rate could breach the given pattern north by the beginning of April. […]

Since November, the EUR/TRY exchange rate has been trading within a falling wedge pattern. From a theoretical perspective, it is likely that the currency pair could continue to depreciate within the predetermined pattern until the beginning of April. Then, the pair could breach it north and target the 10.20 level. In the meantime, note that […]

NZDUSD is diving below the more than three-and-a-half-year high of 0.7463, slipping below the 20-period simple moving average (SMA). This aggressive move is confirmed by the MACD oscillator, which is falling below the trigger line. However, the RSI is turning higher around the neutral threshold of 50. In trend indicators, the red Tenkan-sen line and […]

USDCAD is opposing the overwhelmingly bearish picture with its recent bounce off a newly formed 3-year low, between the troughs of 1.2450 and 1.2527. The pause in the falling Ichimoku lines is reflecting the recent rebound in the price, while the sliding simple moving averages (SMAs) are safeguarding the prevailing negative tone. The short-term oscillators are […]