Category: Technical Analysis

EUR/USD Technical Analysis

On the hourly chart of EUR/USD at FXOpen, the pair started a decent recovery wave from the 1.0640 level. The Euro was able to clear the 1.0670 resistance against the US Dollar. There was a successful break above a key bearish trend line with resistance at 1.0710. The pair is now trading well above the […]

AUD/USD: Strong Recovery Extends into Second Straight Day

Australian dollar extends strong rally into second straight day, lifted by weaker US dollar on debt ceiling deal, signals that China is working on new property market support package, expected wage raise as from July 1 and higher than expected April inflation which adds to bets about further rate hikes. Strong bullish acceleration reached nearly […]

Will USDCHF Start a New Bullish Wave?

USDCHF is trading at the bottom of an upward-sloping channel, increasing speculation that the pair is preparing for its next bull run as traders are eagerly waiting for the US nonfarm payrolls release. The Stochastic oscillator on the four-hour chart rotated northwards, but it has yet to exit the oversold region above 20, suggesting that some patience is […]

USDCAD Shifts Focus to the Downside After Deep Fall

USDCAD plunged by 1.2% in the first trading day of June, sliding back below its simple moving averages (SMAs) to mark a new two-week low of 1.3417 on Friday. The fast downside correction follows the double top creation around the tough resistance of 1.3650, which raised the risk of a bearish continuation. Overall, there are barely any bullish signs in […]

GBPJPY Extends Advance to 7½-Year High

GBPJPY has been stuck in an upward sloping channel since early April, generating a structure of higher highs and creating a fresh 7½-year peak of 174.26 last Tuesday. Even though the pair experienced a minor correction after that, it quickly stormed back higher to challenge its recent multi-year high. The short-term oscillators currently suggest that bullish […]

AUD/USD and NZD/USD Start Steady Increase

AUD/USD is moving higher and might climb further higher above 0.6615. NZD/USD is also rising and might surge toward the 0.6145 resistance zone. Important Takeaways for AUD USD and NZD USD Analysis Today The Aussie Dollar started a fresh increase above the 0.6520 and 0.6550 levels against the US Dollar. There was a break above […]

AUDCHF Wave Analysis

AUDCHF reversed from key support level 0.5875 Likely to rise to resistance level 0.6000 AUDCHF currency pair recently reversed up from the key support level 0.5875 (which has been steadily reversing the pair from the end of April). The support level 0.5875 was strengthened by the lower daily Bollinger Band. Given the bullish divergence on […]

USD Pulls Lower

NZD/USD attempts to rebound The US dollar slips as rising claims for unemployment benefits suggest a looser job market. After breaking below the daily demand zone around 0.6110, the kiwi has been struggling to find buyers. The directional bias in the medium-term remains down as a series of lower lows would continue to attract trend […]