ETHUSD printed bullish divergence on MACD and then formed cup and handle pattern with in converging triangle. Price broke out of the triangle pattern and will now likely retest the support zone aligned with vital 0.618 -0.786 fib zone. Scenario seems bullish.
Brent oil broke out of descending parallel price channel after printing divergence on MACD. Price is expected to retest the vital resistance cum support level which nicely aligns with 0.618 fib zone. Price is expected to bounce from this zone to advance higher.
NASDAQ 100 broke through short term and medium term trendline after printing massive divergence on MACD. Price will likely retest the resistance cum support zone and then will resume the bullish momentum. Price has shown bouncing behaviour from this very zone multiple times in the recent past.
EURAUD is testing a very critical support area from where it bounced multiple times in the past. We see that the price has broken past the falling trendline and formed bullish divergence on MACD as well. Seems like we are read for bullish wave from support area.
EURGBP broke out of falling trendline and then seems to have formed leading diagonal followed by corrective move. Now price seems to have broken through important resistance zone and seems prepared for forming bullish impulse.
GBPCHF had a break out from falling trendline after making bullish divergence on MACD. These factors indicate that we are very close to resumption of bullish trend.
GBPCHF has been trading with in parallel channel for long. A break out to the either side will be explosive one I think. Given that now price is trading with in descending triangle and we have bullish divergence on MACD, I think the break out would be a bullish one.
Brent oil broke through descending trendline and formed double bottom pattern as well. Price seems to be in the process of completing harmonic butterfly pattern after which a good sustainable bullish reversal can be expected.
EURGBP has formed bull flag at dynamic trendline based resistance. This is the third tap on a long trendline making it a critical resistance zone in short term. To add confluence we also have a clear bullish divergence on MACD signaling that this time price might break through the trendline to form bullish sequence in short term.
AUDNZD is bracing for a break out of the falling trendline after making divergence on RSI. The trendline seems to be a valid trendline as we had three taps on it. Therefore a break out of this trendline can be considered critical for change in trend. Also we had a break of structure at this zone in this past.
AUDUSD is trading in a descending parallel channel and is testing a key resistance cum support zone . It has also formed bullish divergence on RSI at this key zone. A break out on either side of this key zone will set short term trend for the pair. Due to bullish divergence on RSI, I expect price to break out from descending channel and resume bullish move in...
A confluence of inverse head and shoulders pattern along with bullish divergence on MACD gives us a strong buy signal. Price is expected to retrace to immediate support and then resume the bullish momentum.
The fate of ETHUSD in short term lies in break out from either of the two divergences printed on MACD. I think bearish divergence is more strong and will prevail. In such scenario price will break down from immediate support zone where we have bullish divergence and will then likely reach the next support zone. In case we see price breaking out of resistance zone...
AUDJPY had a bullish impulsive move followed by correction in form of combination of ascending triangle and flat corrective pattern. We can now expect fresh bullish impulse after completion of this corrective wave.
NZDUSD had been trading with in corrective triangular range for some days. Now we had a volume powered break out from this range. Price is expected to retrace from resistance of long term trend line and then explode out of long term trendline too.
EURGBP has printed strong divergence on MACD and also seem to be completing harmonic bat pattern . We had a volume spike in this support area as well. All this seem to suggest we are in for correction up till next resistance zone.
USDCHF seems to be completing a bullish cypher pattern . We are landing back at support area where we seem to have change of character . A bounce from this support area seems likely.
USDCAD formed divergence on MACD and seems to be completing a long spell of accumulation with in tight range. A breakout from falling trendline in the form of bullish impulse seems imminent. Long positions may be considered only after ocurance of break out.