Chart Pattern- Big M Potential Reversal Zone (PRZ)- 1.12150 EURUSD declined after upbeat US jobs data. It hit a low of 1.109588 yesterday and is currently trading around 1.109750. Intraday bias remains bearish as long as resistance 1.1060 holds. The pair is trading below 34- and 55 EMA in the one hour chart. The near-term resistance is around...
Harmonic pattern- Bearish BAT pattern GBPJPY pared most of its gain on the weak Pound sterling. It hits a high of 195.18 yesterday and is currently trading around 193.315. Overall trend remains bearish as long as resistance 196 holds. The near-term resistance is around 193.50,a breach above targets 194.25/195/195.97. Major trend continuation only above 196....
XRP pared some of its gains after the SEC officially filed a notice of appeals against Ripple. The entire crypto market plunged sharply after Iran attacked Israel. XRP ETP According to Bitwise Today we filed an initial registration statement on Form S-1 for a new Bitwise XRP ETP. “We believe blockchains will usher in new apolitical monetary assets...
EURUSD pared most of its gains as the dollar recovers. It hit a low of 1.11120 a the time of writing and is currently trading around 1.11172. Intraday bias remains bearish as long as support 1.1150 holds. Technicals- The pair trades below 34- and 55 EMA in the 15-minute chart. The near-term resistance is around 1.1150, a breach above targets...
EURJPY pared most of its gains on the weak Euro. It hit a low of 159.63 at the time of writing and is currently trading around 159.71. Intraday bias remains bearish as long as resistance 161.20 holds. The recovery from 155.15 was completed at 163.49 and major bullishness was only above 163.89. Indicator (15-min chart) CCI (50)- Bearish Average directional...
Technical (15 min chart)- The yellow metal trades below short-term (34 and 55 EMA ) and long-term (200- EMA). The near–term support is around $2660, a break below targets $2640/$2624/$2610/$2600/$2570/$2560/$2545/$2520/$2470. Major bearish continuation only below $2470.The yellow metal faces minor resistance around $2670 and a breach above will take it to the...
GBPJPY tradin in a narrow range between 191.76 and 193.32 in past two days.It hits a low of 192.51 at the time of writing and is currently trading around 193.23. Intraday trend is bullish as long as support 192.40 holds. Technicals (15 min chart) The pair is trading above short-term 34,55 EMA (190.23 and 191.72) and long-term 200 EMA (191.51) in the...
The near-term resistance is around 161.20, a breach above targets 162/162.89. Major bullish continuation only above 163.87. The immediate support is at 160.50 any violation below will drag the pair to 159.85/159/158.80/158.40/157. Indicator (1- Hour chart) CCI (14)- Bullish CCI (50)- Bullish Average directional movement Index - Bullish. All indicators...
Pattern formed- Cup and Handle pattern EURUSD surged sharply after a long consolidation. It hits a high of of 1.11987 at the time of writing and is currently trading around 1.11888. The pair trades above short-term (34 and 55 EMA) in 4-hour chart. Major resistance to watch- 1.1200. Any violation above 1.1200 targets 1.1280/1.1300. Major support-...
EURJPY pared most of its gains on board-based Euro weakness. It hit a low of 159.11 and is currently trading around 159.13. The Euro declined sharply after dismal Euro area PMI data. German flash manufacturing and services PMI in Sep came at 40.30 and 50.6, below forecast of 42.40 and 51.10. Technicals- The pair is trading below 34- and 55 EMA in the 1-hour...
Intraday bias remains bearish as long as resistance 0.8550 holds. It hit a high of 0.85150 and is currently trading around 0.84561. The pair gained momentum despite a dovish Fed rate cut and jumped over 100 pips. Technicals- The pair is trading below 34 and 55 EMA in the 4-hour chart. The near-term resistance is around 0.84787; any break above targets...
FxWirePro- EURUSD trades above trend line resistance after surprise 50 bpbs rate cut by Fed, good to buy on dips Trend line resistance- 1.11275 (trend line joining 1.12016 and 1.11554) EURUSD trades above trend line resistance after Fed monetary policy. It hits a high of 1.1788 at the time of writing and is currently trading around 1.11778. Fed cuts rates by...
Chart pattern- Inverted Head and Shoulder Potential reversal zone- $52530. BTCUSD showed a minor jump of nearly $1000 from a minor bottom of $57477. It hit a high of $58777 and is currently trading at around $58506. According to the CME Fed watch tool, the probability of a 50 bpbs rate cut in Sep increased to 67% from 30% a week ago. Technicals- BTCUSD...
Chart pattern Gold- CCI (50) Bearish divergence (Daily chart) US 10- year yield - CCI (50) Bullish divergence (Daily chart) The near–term support is around $2570, a break below the target of $2560/$2544/$2535/$2520. The yellow metal faces minor resistance around $2590 and a breach above will take it to the next level of $2622/$2650. Indicator (Daily...
Candlestick pattern- Hammer (daily chart) The near-term resistance is around 186.40,a breach above targets 187/188.13 (Sep 9th high).Major trend continuation only above 190. The immediate support is at 185.40, any violation below will drag the pair to 185/184.56/183.58/182.79. It is good to buy on dips around 185.58-60 with SL around 184.56 for a TP of 188.
Gold showed a minor sell-off after mixed US CPI data. It hit a low of $2502.29 at the time of writing and is currently trading around $2512. The yellow metal is trading above 34 and below 55 H EMA in the 4 hour chart ($2507 and $2505). Intraday weakness can be seen only if it breaks below $2485. A break below targets $2470/$2450 is possible. US dollar index-...
Chart pattern- AB=CD pattern. EURUSD pared some of its gains after mixed US CPI. It hits a low of 1.10033 and is currently trading around 1.10207. According to the CME Fed watch tool, the probability of a 50 bpbs rate cut in Sep decreased to 14% from 34% a day ago. The pair trades below short term (34 AND 55 EMA) in 8-hour chart. Major resistance to watch-...
Chart pattern- AB=CD pattern. EURUSD pared some of its gains after mixed US CPI. It hits a low of 1.10033 and is currently trading around 1.10222. According to the CME Fed watch tool, the probability of a 50 bpbs rate cut in Sep decreased to 14% from 34% a day ago. The pair trades below short term (34 AND 55 EMA) in 8-hour chart. Major resistance to watch-...