The counter is on the brink of a long bull cycle. After completing wave 1, it has formed a long ABC correction, which can be construed as wave 2. Now, wave 3 is the longest wave of a cycle has commenced. Also, the GDP numbers from Canada have been upbeat. Hence, we expect the pair to be bullish in the near- and short-term.
After a steep fall, the counter consolidated in a narrow range in the form of a descending triangle pattern. The pattern by itself indicates a bearish bias, and it was validated by a bearish breakout as well. Hence, we expect the counter to move further low from here.
EUR/GBP has made a bullish breakout from the ascending triangle formation. It is currently retracing to test the broken resistance. Hence we expect the pair to move bullish further from here.
The counter formed an inverse cup and handle and broke out in the past week. The weekly close below the pattern validates it as well. And we expect the counter to flush it down, with or without a correction.
The bears gave a respite to the bulls and let the counter cool-off for the past few days. The upside correction is the wave 4 of the bear cycle which is an abc correction. Now, the counter has formed a head and shoulder pattern indicating the commencement of wave 5. And hence we expect the pair to continue its bear cycle. However, if you do want a precise entry...
The counter spiked up from the bottom. However, the critical resistance at 0.91918 is capping the rally. The MACD indicator which was bullish is also ebbing. Hence, we expect the resistance to hold and flush down the pair to the lows.
The counter is in a long-term bear cycle. And it is in its longest leg of the cycle -- wave 3. The sideways consolidation in the counter is a mere pause in the rally and we expect it to render a bearish breakout anytime soon. The MACD indicator has also turned bearish now. So, we expect the pair to move down from here.
The counter has formed an inverse head and shoulder pattern. It broke above its neckline and is currently hovering just above it. Hence, we expect the pair to surge upwards.
The counter has broken out of a bearish flag formation. Also, the MACD indicator has turned bearish. Hence, we expect the pair to move down from here.
The counter couldn’t sustain the break above the critical resistance of 0.66690. It formed a double top pattern above the resistance signalling a topping out formation. The recent data suggests that the market has overrun and the threat of 50 bps rate cut has passed away, for the moment. Hence, we expect the pair to move down to the support level of 0.64865.
The counter has made a lower high, lower low formation. It can result in a deep correction in the counter. Hence, we expect the pair to move lower from here.
The counter has formed a head and shoulder pattern in the 15-min chart. It indicates a near-term bottoming out and signals a reversal. Further, the MACD indicator has turned bullish as well. Hence, we expect the pair to race higher from here.
The trade optimism that paved the AUD rally has withered and the interest rate decision has come to limelight. So, the counter formed a head and shoulder signalling a short-term topping out. It has broken the neckline as well and is hovering just below it. Hence, we expect the pair to move down from here.
Crude oil ended its near-term bull cycle at the highs of $60. It completed it 5-waves and also its wave a and b in the corrective structure. Now the wave c which was on the cards has come to play with the formation of evening star pattern at the critical resistance. Hence, we expect the oil counter to move down to the mark of 57.08.
The counter is in a strong bearish trend making lower highs and lower lows consistently. The recent surge in the counter can be attributed to a bearish flag pattern. Now, the counter is in a confluence of resistance points - flag and trendline resistance. Also, the RSI indicator lurking below the overbought zone. Hence, we expect the pair to move down from here.
The counter is in an ascending channel formation. The pair reached its supportive trendline and then bounced back with a pin bar and follow through the bullish candle. Hence, we expect the pair to be bullish and reach the resistive trendline for now.
The US President has managed to bring the Chinese deal makers once again to the table and it is set to make a positive impact on the dollar. Further, the pair is in an ascending channel formation and it hit its resistance mark at the resistive trendline. Now, the pair broke the critical support of 1.13487 and made lower low formation, which could make the bulls to...
The AUD/JPY pair has formed a bearish bat formation. It is currently facing resistance at 75.500. Hence we expect the pair to move towards the support level of 74.779.