التحليلات الفنية

USD/CAD- Price bounced from Support Zone, What Now

The USD/CAD pair has bounced from its minor support zone on a 4 hour time frame. However, the price did penetrate really deep in this zone which represents that there is not much of buying pressure at this level and therefore, the bears were able to push the price deep in this zone. Moreover, the price is trading well below the downward trend line which confirms the strength of the downward trend. If price does break this level of support then the next level of support could near the 1.0176 zone.

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Technical AnalysisBy sharptrader

AUD/NZD- Technical Analysis

The AUD/NZD pair is trading in a downward channel on a daily time frame. The volatility for the pair is low as the price is trading within the Bollinger band and close to its 20 day moving average. The price action is still far from its major support of 1.143-1.135 and therefore the downward trend may continue. However, the RSI is showing a clear sign of divergence which means that while the price is making the lower low it is not reflected by the RSI. Therefore, the bears could be losing their steam and the downward trend could be exhausting.

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Technical AnalysisBy sharptrader

EUR/USD- Further upside may prevail

The EUR/USD pair is trading deep in its resistance zone on a 30 minute time frame. This resistance zone may not be able to hold as the price has gone really deep in this zone which means that there is not enough selling pressure as this zone and the bulls could still drive the price up. The ascending triangle pattern has broken to the upside as predicted in our analysis yesterday.

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Technical AnalysisBy sharptrader

USD/JPY – Broken its Upward Trend Line, Will You Short

The USD/JPY pair has broken its upward trend line on a 30 minute time frame. This shows a weakness for the uptrend. The upward trend line may act as a resistance now. However, the pair is trading above the 50 day moving average (shown in green) and below the 100 day (shown in yellow) moving averages which confirms that the bulls are losing their 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.

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Technical AnalysisBy sharptrader

GBP/USD- RSI Showing Strong Divergence, Uptrend Could Pause

The GBP/USD pair has broken its resistance zone on a 30 minute time frame as predicted yesterday. The pair is trading above the 50 day (shown in green) and the 100day (shown in yellow) moving averages which confirm that the bulls are still in strong control. Moreover, the price is trading above the upward trend line and has not violated this trend yet which further strengthens the above argument.

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Technical AnalysisBy sharptrader

EUR/USD- Forming a bullish pattern, Will you trade?

The EUR/USD pair has formed an ascending triangle pattern on a 30 minute time frame. Historically speaking, ascending triangles do break towards the upside in an upward trend. If this pattern does break out towards the upside it could easily push the price towards the yellow rectangle shown on the chart.

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Technical AnalysisBy sharptrader