Category: Technial Analysis
USDJPY, “US Dollar vs Japanese Yen” USDJPY quotes are above the 200-day Moving Average on H4, revealing the prevalence of an uptrend. The RSI has rebounded from the support line. In this situation, the quotes are expected to rise above 7/8 (149.21), subsequently reaching the resistance line at +1/8 (150.78). The scenario can be cancelled […]
TitleAUDUSD H4 | Bearish reaction off 23.6% Fibo resistancve TypeBearish Reversal Preference: Price could rise towards the pivot point of 0.63299 which is a pullback resistance that aligns with the 23.6% Fibonacci retracement level and could potentially reverse from here; we could see momentum carry price down to its 1st support at 0.62229 which is […]
The dollar entered a correction phase on Wednesday as market participants took advantage of the fact that major currencies paired with the dollar had been depreciating at a fairly high pace over the past few days and had either reached or briefly breached key levels where support was widely expected. For example, these levels were […]
GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD is correcting within a Triangle pattern. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the Kijun-Sen line at 1.2080 is expected, followed by a decline to 1.1965. An additional signal confirming the decline will be a rebound from the upper […]
EURUSD, “Euro vs US Dollar” EURUSD has formed an Inverted Hammer reversal pattern near the support level on H4. Currently, the instrument might go by the reversal pattern in an ascending wave. The pullback target could be the resistance at 1.0535. However, the quotes might drop to 1.0420 and continue the downtrend without testing the […]
TitleGBPUSD H4 | Rising into resistance? TypeBearish Reversal Preference:Price could rise towards the pivot point of 1.21038 which is a pullback resistance that aligns with the 23.6% Fibonacci retracement level and could potentially reverse from here; we could see momentum carry price down to its 1st support at 1.19463 which is a level that aligns […]
TitleBCOUSD H4 | Potential bearish reversal? TypeBearish Reversal Preference:Price could rise towards the pivot point of 92.208 which is a pullback resistance that aligns close to the 38.2% Fibonacci retracement level and could potentially reverse from here; we could see momentum carry price down to its 1st support at 89.691 which is an overlap support […]
TitleEURJPY H4 | Bullish bounce off pivot? TypeBullish Bounce Preference: Price has been ranging the past few weeks, and could continue to range from our pivot point at 156.76, to the 1st resistance at 157.81. If price rejects and bounces off the pivot point, then it could potentially rise to the neckline of the double […]
USDCAD, “US Dollar vs Canadian Dollar” USDCAD has formed a Hammer reversal pattern on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target could be 1.3755. Next, the price could break the resistance and continue the uptrend. However, the quotes might correct to 1.3655 before rising. AUDUSD, […]
AUDUSD, “Australian Dollar vs US Dollar” AUDUSD quotes and the RSI on H4 are in their respective oversold areas. In this situation, a rebound from -1/8 (0.6317) could be expected, followed by a rise to the resistance at 1/8 (0.6378). The scenario can be cancelled by a rebound from -1/8 (0.6317). In this case, the […]