nikhil612

nikhil612 Updated 

Price is bumping agains't the short term trend line for more than a month now. AUD looks really eager to break it. In addition, since the price moved from 0.63623 to 0.67 the market is digesting the move and forming a bull flag. From a more fundamental perspective, Australia central bank is one of the only few still considering a potential hike in interest rates....

nikhil612

Price retraced to the expected lever as shown in the below reference published chart. It will be interesting to see now, whether the price follows Scenario 1 (bullish) or Scenario 2 (bearish). Below mentioned news events will determine the path: 1. BOE rate decision (20th June) 2. US Initial jobless claims/manufacturing data (20th June) 3. UK Retail Sales (21st...

nikhil612 Updated 

The cart is cluttered with a lot of lines, but is needed to provide clarity of my thought process. In the charts below, you can see in more details the long term channel, long term trendline and short term trendline. Its highly likely that GBP is going to take one of the two paths. As evident for the chart, price is bouncing around in the long term channel with...

nikhil612

GBPUSD had a false breakout, increasing probabilities of a breakdown. 1.25 is the critical level to hold. Daily close below 1.25 will increase likelihood of the pair touching 1.23

nikhil612

A potential Head & Shoulder set up. If this does trigger and play out GBP might go as low as 1.11 agains't the Dollar

nikhil612

A potential Head & Shoulder set up. If this does trigger and play out EUR) might go as low as 1.0250 agains't the Dollar

nikhil612

Technical analysis: Obvious divergence in the 4H TF Hidden divergence in 1D TF Liquidity grab completed If price does not close (in 1H TF) below 1.0813, high probability price move up towards 1.10 Fundamental analysis: Post ECB meeting pushback on rate cuts in April 2024, analysts still expect rate cuts in April. Euro pushed down initially but...

nikhil612

Seems like a Bullish Consolidation for the pair. RSI divergence evident. AUD is stuck between a risk on environment is US equities and weak data from China. Though I feel AUD wants to move higher as US bullish environment trumps China weakness. Thoughts?

nikhil612

Breaking 1.10 has been a challenge for the EURO so far. Two contradicting chart patterns are developing: 1. If you ignore the wicks (which I don't do), there is a clear bear flag pattern developing. 2. Alternately, if wicks are taken into consideration a bullish ascending triangle patterns can be identifies. I personally feel that the EURO wants to push higher...