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The recent upswing in the counter has worn off after reaching the highs of 109. It broke its bullish trendline and formed a lower high, lower low formation as well. The MACD indicator shows the bullish momentum has dwindled. Hence, we expect the pair to head down from here.

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The counter has started off its bear cycle. It has completed its first two waves and the wave 3 is in its last leg. The wave (iv) of wave 3 formed a triangle pattern and yielded a bearish breakout. The MACD indicator is in the bearish zone as well as confirming the breakout. Hence, we expect the pair to move lower from here.

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The presence of bears in the chart is palpable as the pair makes lower low continually. The recent rally in the was capped by the resistive trendline. And the RSI indicator hit the 70 level mark and made a double top pattern. Hence, we expect the trendline to hold and the pair to slide towards the support level of 1.11129.

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We have been a visionary in the bullion counter so far in 2019. Two predictions - one from the lows to form a parabolic move and then recently we suggested that the down move of late is not a head and shoulder pattern. The market proved us correct by holding the trendline and breaking the neckline. As suggested by us earlier, the down move is the wave 4 of a long...

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After a significant bull rally, the pair consolidated to move to the trendline. In the process, it was squeezed into a triangle. A bullish breakout from the triangle confirms the trend is intact. Hence, we expect the counter to trade with bullish bias from here.

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After a brief rally, the counter signals of topping out. It made a head and shoulder pattern and broke the neckline. The right shoulder can be attributed to a flag pattern as well. And a bearish trendline can be drawn connecting the lower highs of the price action. The stochastic indicator is also entering the overbought zone. Multiple factors converge to divulge...

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The counter is formed a bearish exhaustion candle. Then it spiralled down and broken the critical support of 1.06138. Now, the broken support is acting as the resistance. Also the RSI indicator formed a head and shoulder pattern during the exhaustion candle move and broke the neckline. Now, the neckline coincides with the broken support bolstering the...

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The support of 0.65803 was a critical level and the break out move below that level seems to have fizzled out. Now, the counter is finding traction to the upside. A bullish trendline has formed in the 1-hour chart to aide the bulls as well. The MACD indicator has also turned its head around to positivity. Hence, we expect the counter to be bullish and move to the...

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Bitcoin is currently held by its price action resistance zone>. The RSI is currently printing an overbought reading & gauges a divergence in the daily timeframe as well. Hence we expect the pair to move to the levels of 5103 and 4795.

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The pair is sizing up for the long-term bullish move and is now constructing only first two waves of an Elliott wave. The second wave being a corrective wave has a three wave structure - ABC. It is currently at the 1.272 Fibonacci extension of its corrective AB structure, which can act as strong support. The MACD gauges a divergence in the 4-hour timeframe as...

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GBP/JPY is currently in a descending triangle formation. The decreasing strength in the counter is evident. And the MACD has also turned bearish in the 4-hour chart. Hence, we expect the pair to render a bearish breakout and move down from here.

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GBP/CAD broke out of the resistance of 1.75661. It then made moved back to test the broken resistance level. And a bullish trendline also comes into play in the counter. So, we expect the pair to take support and move higher from here.

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Crude Oil has been forming a series of lower highs, lower lows in the hourly chart. The lower highs can be connected to form a trendline, which is currently resisting the price action. Moreover, the counter opened gap down and is forming a bearish flag pattern. Looking at the RSI indicator, which also envisages a bearish picture. Hence, we expect the oil to head...

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The AUD/JPY counter broken its long held support with a break away gap. Although the bulls are fighting back, the broken support resists and caps the price. Hence, we expect the pair to move down sharply from here.

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EUR/JPY is facing resistance from its bearish trendline. It has also a formed a head and shoulder pattern at the trendline. Hence, we expect the pair to retreat downwards to the support at 124.227.

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USD/CHF has formed a head and shoulder pattern. It has broken its neckline and is currently consolidating below it. Hence we expect the pair to be bearish and move to the support levels at 0.99943.

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The zone of 1.12500 seems a strong support zone for the EUR/USD bulls. Once again the pair has bounced off from the same price area with an impulse move. In the due process, it has broken its bearish trendline as well. We expect the pair to go through a consolidation for now and then move to to the resistance level at 1.13409.

traderpulse Updated 

GBP/USD is in a descending channel pattern in the 1-hour chart. On reaching its supportive trendline it bounced off with a strong bullish engulfing candle. Hence we expect the pair to race towards the resistive trendline.