Harmonic pattern- Bullish BAT Potential Reversal Zone (PRZ)- 155.45-50 Technicals- The pair is trading below 34- and 55 EMA in the hourly chart. The near-term resistance is around 156, a breach above targets 156.56/157/157.60. Overall bias remains weak as long as resistance 160 holds—major bullish continuation only above 163.87. The immediate support is...
In the 4-hour chart CCI (50) and CCI (14) formed a bullish divergence. The pair trades below short-term (34 and 55 EMA) in the 4-hour chart. Major intraday resistance - 1.10544/1.10677. It is good to buy on dips around 1.10365-68 with SL around 1.1015 for TP of 1.10800
In the 4-hour chart CCI (50) and CCI (14) formed a bullish divergence. The pair trades below short-term (34 and 55 EMA) in the 4-hour chart. Major intraday resistance - 1.10544/1.10677. It is good to buy on dips around 1.10365-68 with SL around 1.1015 for TP of 1.10800
Intraday bias - Bullish Horizontal trend line- $605 Any close above $520 confirms intraday bullishness. Indicators ( Hourly chart) Directional movement index -Bullish CCI (50)- Bullish CCI(14)- Bullish It is good to buy on dips around $500 with SL around $470 for TP of $605.
Chart pattern- Descending triangle USDCHF formed a double bottom around 0.8400 and showed a minor pullback. It hits a high of 0.84854 and is currently trading around 0.84765. Intraday trend is bullish as long as support of 0.840 holds. Indicator (1-hour chart) CCI (14)- Bullish CCI (50)- Bullish Average directional movement Index - Bullish. Overall trend...
CADJPY showed a nice jump after upbeat Canadian GDP data. It hits a high of 108.80 and is currently trading around 107.99. The economy rose to 0.50% y/y in Q1 in line with expectations from Q1 0.40%. the yearly GDP grew 2.1% in the Q2 ,well above estimate of 1.6%. Technicals- The pair trades above 34- and 55 EMA in the hourly chart. The near-term...
It is good to buy on dips around 0.8465-67 with SL around 0.8435 for a TP of 0.8540
Gold - Sell on rallies (US session) Gold pared some of its gains on the strong US dollar. It hit a low of $2499.90 and is currently trading around $2500. The yellow metal trades below 34 and 55 H EMA in the hourly chart ($2513 and $2512). Any violation below $2498 (200- H MA) confirms further weakness. A dip to $2490/$2470 is possible. US dollar index- It has...
FxWirePro- NZDJPY trade idea NZDJPY trades neutral with positive bias yesterday. It hits a high of 90.31 and is currently trading around 90.15. Technicals- The pair is trading above 34- and 55 EMA in the hourly chart. The near-term resistance is around 90.31, a breach above targets 90.82/91.80. The immediate support is at 89.85 any violation below will...
GBPJPY showed a minor weakness after forming a double top around 192. It hit a low of 189.61 and is currently trading around 189.99. The Japanese yen gained momentum on Friday due to policy divergence between the Fed and BOJ. Technicals- The pair trades below 34- and 55 EMA in the hourly chart. The near-term resistance is around 192, a breach above...
Horizontal trend line- $405 Downtrend channel resistance- $392 BCHUSD has performed well after a minor sell-off. Any daily close above $390 confirms further bullishness. The pair traded weak after forming a minor top around $525 on May 21st, 2024. Any major trend reversal can happen only if it closes above $525. BCHUSD prices have surged more than 20% in the...
USDCAD surged sharply after upbeat US NFP and dismal Canadian jobs data.The US economy has added 303000 jobs in March, above the estimate of 200000. While the unemployment rate fell to 3.8% from 3.9% the previous month. Average hourly earnings surged to 0.30% vs. a Forecast of 0.20%. It is good to buy on dips around 1.36200 with SL around 1.3570 for TP of 1.37480
GBPJPY has been consolidating in a narrow range between 185.95 and 184.53 for the past week. Any breach above 186 confirms further bullishness. A jump to 187/188 is possible. It is good to buy above 186 with SL around 185.20 for TP of 188
Candlestick - Shooting Star (Daily chart) EURUSD halted its two-day winning streak and showed a minor sell-off. It hit a high of 07562 yesterday and is currently trading around 1.06991. It is good to sell on rallies around 1.0705-080 with SL around 1.0760 for TP of 1.0600/1.0550
EURUSD showed a nice jump on upbeat market sentiment. It hit a high of 1.06498 yesterday and is currently trading around 1.06497. Any break above 1.06300 confirms further bullishness. A jump to 1.0700/1.0760 is possible. it is good to buy on dips around 1.06425-30 with SL around 1.05980 for a TP of 1.0760
EURUSD took support near 1.04800 after US Non-farm payroll data. The pair recovered to 1.06396 (38.2% fib 1.09454 and 1.04482) and showed a minor sell-off due to geopolitical tension between Palestine and Israel. It is holding well below 21 and 55 EMA (Short term) and 200 EMA (long-term) in the 4-hour and daily chart. Any breach below 1.04800 confirms a bearish...
GBPJPY pared some of its gains on the strong Yen. the demand for safe-haven due to geopolitical tension between Israel and Palestine putting pressure on the pair at higher levels. It is good to sell on rallies around 182.60 with SL around 183.20 for TP of 180.70
EURUSD breaks significant support at 1.04800 after a long consolidation. The overall trend is weak as long as the resistance 1.0620 holds. it is good to sell on rallies around 1.04800-05 with SL around 1.0500 for TP of 1.0400