The EUR/USD pair has broken its symmetrical triangle pattern on a 30 minute time frame. If this pattern does play out completely then we could see the price near the major support zone (1.268-1.265). The price is trading below the 50 day (shown in green) and above the 100 day (shown in yellow) moving averages which suggest not entire technical sentiment is bearish.
اقرأ المزيدBull Scenario The GBP/USD pair is trading above the 50 day (shown in green) and the 100 day (shown in yellow) moving averages. This suggests that the bulls could be more in control and bias could be towards the upside as long as the price is trading above these averages. The price is also trading…
اقرأ المزيدThe USD/JPY pair fell from its resistance level on a 30 minute time frame. This resistance level was given in our analysis on the 16th of May. The price has clearly broken its upward channel and it was trading below this channel at the time of writing this article. The pair has found its minor support from a 100 day (shown in yellow) moving average and it is trading above the 50 day (shown in green) moving average. However, the price action is trading in line with the RSI which suggests that short term bias could be towards the downside.
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The EUR/USD pair has violated its support zone which was given on Friday on a 30 minute time frame. The price is capped by its downward trend line and it is hesitating to break this line. The pair is trading above the 50 day (shown in green) and below the 100 day (shown in yellow) moving averages which suggests that bearish trend may be giving up. The RSI is trading in line with the price action which means bias could be towards the upside.
اقرأ المزيدThe GBP/USD pair fell from its resistance level on a 30 minute time frame. This resistance level was given in our analysis yesterday. The price action has clearly broken its downward channel with medium conviction to the upside. The pair is trading below the 50 day (shown in green) moving average but above its 100 day (shown in yellow) moving average. The price action also respects its upward trend line (shown in pink). All this suggests that the bulls are still somewhat in control however the price is becoming weaker.
اقرأ المزيدBear Scenario
The EUR/USD pair is trading in a support zone once again on a 30 minute time frame. This support zone may not hold as the price is visiting this level for the third time which suggests that there is more selling pressure than buying pressure. The EUR/USD pair is also trading in a downward channel and has been unable to break this channel so far. This further strengthens the above argument.
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