The area where GBPJPY is being traded has the highest volume ever traded since the beginning of 2024. Also, the reverse trendline is also giving a bullish signal. In addition, the Japanese Yen Futures current traded area is also the highest volume traded since the beginning of 2024, which means if it is retesting this area then we can expect the growth in XXXJPY...
EURUSD 1h time frame has recently formed double top pattern. I am expecting the price go down to the neckline/support area in the graph. If the price pulls back slightly after touching that support area, we can expect next sharp decline and target the area at around 0.94000. The second scenario is price breaking the neckline and the neckline becoming the next...
GBPUSD pair recently (Sep 23, 2022) tested a very strong resistance level from February, 1985. For a short-term period, I am expecting further depreciation of GBP. It has formed Bearish Pennant Pattern and is expected to continue the downtrend. Now the pair is at the current resistance area in the graph, where it serves as a support level if it continues going up....
-Possible bullish flag pattern in 1D and 4h time frame
- Testing the trend channel. If it bounces back, possible appreciation up to 1.37000 area or more
- Stochastic RSI is showing strong bullish divergence in 1h time frame
