FMTradingTeam

FMTradingTeam

EURAUD is slowing down rapidly and coming to a potential pivot point at a key support area. If we go into the weekly chart and scroll right out we can clearly see key resistance between 1.64259 & 1.64489. support areas at 1.62226 & 1.62539. between these areas we have seen by far the most price action with many rejections in both the resistance areas and support...

FMTradingTeam

EURJPY newly broken resistance line on the Daily chart with a short retracement then failed to break the new support line. The price was then rejected at the newly formed support. The circled area made it a perfect opportunity to enter the trade, but a smaller retracement after the initial breakout is common which could present a new opportunity to enter with a...

FMTradingTeam

As previously analysed the market reacted well to our previous inverted head and shoulders.

FMTradingTeam

Australia has had a reasonable amount of good news in the last couples week and we can we see it has benefited from the US reacting slow to Covid-19. We expect to see the bulls carry on rising up until the 0.70321 area where the key resistance line lives. This can be seen in July 2019 and December 2019. We reached this line once already at the start of June with...

FMTradingTeam

GBPNZD ONE TO WATCH GBPNZD is a definite one to watch, if we take a look at the weekly chart there’s a clear uptrend happening starting from way back in October 2016 and ending in March 2020. A strong rejection in the weekly candlestick can be found here. This could be the result from the UK reacting slowly to the corona virus and going into lockdown. While New...

FMTradingTeam

EURUSD is causing a reasonable amount of controversy, with high powered bulls followed with heavy retracements as the EUR fails to break a key resistance. This could be due to Trump negotiations with the EU. These two colossal economies clashing over trade deals. With this being said, the newly formed head and shoulders pattern could be a key indicator for...