The EUR/SEK bounced from its minor support zone on a 4 hour time frame. This support zone was given in our analysis on 25th of July. The price has also broken its downward trend line which confirms that the bulls have taken the control. However, as the price has broken its upward channel previously, therefore, the lower line of this channel could still cap the upward move for this trend.
اقرأ المزيدThe USD/JPY pair is trading in a downward channel on a 30 minute time frame. The pair has broken its support zone on the same time frame which confirms that price is biased to the downside. The USD/JPY pair is also trading below the 50 day moving average (shown in green) and the 100 day (shown in yellow) moving average which confirms that the bears are in control. The volatility for the pair is low, as the price is trading within the Bollinger band and close to its 20 day moving average.
اقرأ المزيدThe GBP/USD pair is trading above the upward trend line on a 30 minute time frame. There is a constant tug war going on between the bulls and the bear as the price action is moving in a side way pattern since 25th of July. Moreover, the price is trading near the 50 day (shown in green) and the 100 day (shown in yellow) moving averages which means no one is in full control of the price action.
اقرأ المزيدThe USD/JPY pair has broken its upward channel on a 30 minute time frame. This shows a weakness for the uptrend. The lower line of the upward channel may as a resistance now. The pair is also trading below the 50 day moving average (shown in green) and the 100 day (shown in yellow) moving average which confirms that the bears are in control. The volatility for the pair is low, as the price is trading within the Bollinger band and close to its 20 day moving average.
اقرأ المزيدThe EUR/USD pair is trading in an upward channel a 30 minute time frame. The price action has reached its resistance zone however, the pair has penetrated deep in this zone and the amount of the time spent in this zone is also a substantial. This suggests that there may not be enough supply at this resistance level and the pair may be able to break this resistance zone to the upside. Moreover, the price is also trading above the 50 day (shown in green) and the 100 day (shown in yellow) moving averages which further strengthens the above argument.
اقرأ المزيدThe EURSEK pair has broken its upward channel on a 4 hour time frame. The lower line of this channel may act as a resistance now. However, the price has bounced from its minor support level and there was a minor piercing of the Bollinger band at that level. The piercing of a Bollinger band does have a significant importance when this occurs at an important level of support or resistance because this could reverse the trend from that specific zone.
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