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forex-academy

This chart is part of our educational article "Trading the Elliott Wave Principle - Part 3."

forex-academy

Technically, the 50-day and 21-day simple moving averages ( SMA ), 1.2250, and 1.2380, respectively, may keep the pair's trading moves limited. Today, consider staying bullish above 1.2330 to target 1.2400 and 1.2500. Whereas, the GBP/USD may remain bearish below 1.2330 to target 1.2275 and 1.2230.

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USD/JPY is rebounding from the October lows and is now challenging the 107.40 resistance near the 50 SMA. A break above this level should lead to the 107.70 resistance, according to the Technical Confluences Indicator.

forex-academy

The EURUSD may find crucial support at 1.0960 area. Buying can be seen above and selling below this level will be preferred today.

forex-academy

Gold is likely to trade bearish below 1,497 and bullish above the same. Let's keep an eye!

forex-academy

The USD/JPY continues to trade bearish after violating the bullish channel on the 240 mins chart. The USD/JPY is now holding below 50 periods EMA, which is suggesting bearish bias among traders. On the lower side, the USD/JPY is likely to gain support at 106.400 area. The MACD and RSI are holding below 0 and 50, suggesting odds or more bearish bias in the...

forex-academy

The EURUSD may find crucial support at 1.0960 area. Buying can be seen above and selling below this level will be preferred today.

forex-academy

On the technical view, the 130-pip area between 50-day and 21-day simple moving averages (SMA), 1.2250, and 1.2380, respectively, may keep the pair's trading moves limited. Today, consider staying bullish above 1.2330 to target 1.2400 and 1.2500. Whereas, the GBP/USD may remain bearish below 1.2330 to target 1.2275 and 1.2230.

forex-academy

The chart is part of our educational article "Trading the Elliott Wave Principle - Part 2."

forex-academy

This chart is part of our educational article "Trading the Elliott Wave Principle - Part 2."

forex-academy

This chart is part of our educational article "Trading the Elliott Wave Principle - Part 2."

forex-academy

This chart is part of our educational article "Trading the Elliott Wave Principle - Part 2."

forex-academy

Consider staying bullish above 1.2330 and bearish below the same today. NFP is likely play a big role, so we need to be extra careful with our trades.

forex-academy

The USD/JPY has formed tweezers bottom on the 4-hour timeframe, which is suggesting odds of a bullish reversal. The USD/JPY pair may find support at 106.90, and below this, it can go after 106.400. On the upper side, resistance stays at 107.450.

forex-academy

The EUR/USD is trading a bit muted, as traders are staying out of the market due to a National holiday in China and Germany. Despite that, the EUR/USD may trade bearish below 1.0964 to target 1.0915 area. On the other side, the bullish breakout of 1.0960 can lead EUR/USD 1.1020. 

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Our preference: short positions below 53.50 with targets at 52.15 & 51.70 in extension. Alternative scenario: above 53.50 look for further upside with 53.90 & 54.35 as targets.

forex-academy

The USD/JPY is likely to trade mostly lower as the pair has violated the bullish channel at 108.200. On the lower side, the support stays at 106.700, which is why I will be looking to take sell positions below 108 level to target 106.400.

forex-academy

Consider staying bearish below 1.0918 level as the EUR/USD has formed a tweezers top pattern on the 4-hour timeframe. On the lower side, one should look for a target of 1.0880 and 1.0820.