USDCHF (1H) - short-term bullish bias
The pair has sliced through the major resistance level of 0.9945 and we can expect a continuation on the upside, before the price hits the daily resistance of 0.9975. The moving averages and the trend line are likely to offer support when and if the price makes a retreat. The RSI is attempting an excursion into the...
EURUSD (4H) - weekly bullish bias
The euro has found buying interests near the 61.8% Fibonacci retracement (1.0995) of the bullish move from last Thursday. We can expect an ABC corrective pattern in the current downtrend. The RSI is rising back from the near-oversold area, which suggests a deceleration in selling pressure. 1.1070 will be the immediate...
EURAUD (4H) - weekly bullish bias
The Aussie is extending losses across the board and we can expect further moves on the downside as selling pressures start to intensify in favour of the euro. Last week's rebound from the daily support of 1.5900 provided a strong base for a potential U-turn. The H&S formation is about to complete and a break of the neckline would...
Brent Crude (1H) - potential bullish reversal
The oil price has been stabilising following 3 impulse moves to the downside. The correction might have come to an end ahead of a stronger 4H support near 58.30. The price is ranging around the moving averages, which means selling pressures have waned and the market might be getting ready for a U-turn. 61.30 will act...
NZDUSD (1H) - intraday bearish bias
The kiwi has met stiff resistance in the 0.6440 area after five unsuccessful attempts. The break of the 0.6400 psychological level along with a MA bearish cross has triggered increasing selling pressure. The classic ABC corrective wave study would give us 0.6366 as the immediate target.
Key support: 0.6366/0.6350
Key...
GBPUSD (1H) - intraday bullish bias
The British pound has ended its 5-wave flag consolidation with a strong upward impulse. The 20-hour MA crossed above the 30-hour one when the price broke above the channel. This is a confirmation that the uptrend may have resumed. Though the RSI indicates an overbought situation and it would be wise to look for an entry during...
USDCAD (1H) - intraday bullish bias
The US dollar is enjoying the euro's post-ECB hangover to push higher. The pair has broken above the immediate resistance of 1.3210 and confirms the bullish bias after yesterday's MA golden cross. We expect the price to find support near the potential trendline. The area around 1.3240 will be our first target.
Key support:...
USDJPY (1H) - intraday bullish bias
The Japanese yen keeps weakening as the US-China trade dispute showed signs of easing lately. The USDJPY is climbing along a well-defined trendline from its September low. We expect the pair to bounce off the line and continue its way up toward the previous high. 108.15 will be our immediate target for the day.
Key support:...
EURUSD (1H) - intraday bullish bias
The USD is extending losses across the board and gives the euro an opportunity for a short-term reversal. The 20-hour MA has crossed above the 30-hour's while the RSI is making a move upwards from its previous oversold area, signalling a rising momentum in the price action. The target will be under the recent high of...
