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USD/JPY – Bounced from Support as Predicted

USD/JPY – Bounced from Support as Predicted

The USD/JPY pair bounced from its support zone on a 30 minute time frame. This support zone was given in our analysis yesterday and we predicted that the price could move from this level based on our technical analysis. The pair bounced back up from its minor support zone and reached its 61.8% Fibonacci level and then retraced back down from that level. However, the strength of the minor support zone pushed the price back up once again.

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Technical AnalysisBy sharptrader

EUR/USD- Technical points Bullish outcome

The EUR/USD pair has formed a reverse complex Head & Shoulder pattern on a 30 minute time frame. The price is trading above the 50 day (shown in green) and the 100 day (shown in yellow) moving averages which suggest that bias could be to the upside. The volatility for the pair remains 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

AUD/USD – Bounced from its Support As Predicted

Bullish Scenario

The AUD/USD pair has bounced back up from its support zone on a daily time frame. This support zone was given in our analysis on the 15^th of May. The volatility for the pair was peaked at this level because the price was extending its piercing of the Bollinger band at an important level of support.

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Technical AnalysisBy sharptrader

مايو232013

USD/JPY – Fell from its Resistance As predicted

The USD/JPY pair fell from its resistance on a 30 minute time frame which we predicted in our daily analysis on 20^th May. The price is trading well below the 50 day (shown in green) and the 100 day moving average which suggests that downward pressure is very strong. The volatility for the pair is also at an extreme level, as the price has pierced the Bollinger Band and it is far off from its 20 day moving average. However, the price action is approaching near the minor support zone which could push the price back up.

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Technical AnalysisBy sharptrader

AUD/NZD- In a Daily Support Zone- Will You Buy It

The AUD/NZD pair is trading within the support zone on a daily time frame. The price is also trading inside the downward channel on the same time frame and recently, it has started to challenge the upper line of this line channel which suggests that the bulls could be taking the control.

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Technical AnalysisBy sharptrader

GBP/USD- Sentiment Bearish but RSI suggesting Bullish Outlook

The GBP/USD pair has completed its symmetrical pattern on a 30 minute time frame as we mentioned in our analysis yesterday. The pair is also trading in a downward channel on the same time frame. The price is trading below the 50 day (shown in green) and 100-day (shown in yellow) moving averages which means technical sentiment could be still bearish.

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Technical AnalysisBy sharptrader