Category: Technical Analysis

GBPJPY Maintains Aimless Bias, As Momentum Loses Steam

GBPJPY appears to have been again denied passage above the 140.00 mark, which happens to be the 76.4% Fibonacci retracement of the down leg from 144.94 to 124.00, following a bounce off the 100-day simple moving average (SMA). The slipping 200-day SMA and the horizontal Ichimoku lines aid a pause in positive price action, while […]

DAX: Range

Pivot (invalidation): 13347.00 Our preference Short positions below 13347.00 with targets at 13234.00 & 13190.00 in extension. Alternative scenario Above 13347.00 look for further upside with 13380.00 & 13460.00 as targets. – advertisement – Comment As Long as 13347.00 is resistance, expect a return to 13234.00.

Daily Technical Analysis

EUR/USD Current level – 1.1911 The currency pair failed to stay above the important resistance at 1.1920 and it is expected for it to test this level again. If the EUR/USD manages to breach the resistance at 1.1920, it should head towards the local high at 1.2010. Conversely, if the test proves to be unsuccessful, […]

USDJPY Reversal Possible

The US dollar is struggling to find direction against the Japanese yen currency in quiet market conditions, due to the US Thanksgiving holiday. Higher time frame analysis shows that the USDJPY pair is trapped within a large falling wedge pattern, between the 103.50 and 105.30 levels. Falling wedge patterns are typically bullish reversal pattern, meaning […]

Market Morning Briefing: EURJPY Looks Bearish Towards 123

STOCKS Equities manage to stay afloat for now. With limited upside left on major indices and strong resistances ahead, we continue to remain cautious to see a sharp corrective fall in the coming weeks. We will not be surprised to see the major indices beginning the expected correction from here itself after a near-term consolidation […]

USD/JPY Struggles Below 105.00, Key Support At 104.00

Key Highlights USD/JPY struggled to climb above the 104.75 and 105.00 resistance levels. A major bullish trend line is forming with support near 103.90 on the 4-hours chart. Japan’s Leading Economic Index improved from 88.5 to 92.5 in Sep 2020. EUR/USD and GBP/USD struggled to gain momentum above 1.1940 and 1.3400 respectively. USD/JPY Technical Analysis […]

AUD/USD Analysis: Bulls Could Prevail

The Australian Dollar edged higher by 45 basis points or 0.61% against the US Dollar on Wednesday. The currency pair bounced off a support level formed by the 50– hour simple moving average at 0.7328 during Wednesday’s trading session. Most likely, the exchange rate could continue to trend in an ascending channel pattern within this […]