Something out of the norm has taken place for Tesco and traders are feeling upbeat about its future. Tesco has enchanted its shareholders with its Christmas numbers and Britain’s largest retailers is once again under the investor spotlight.
Read MoreThe GBP/USD pair is trading in a downward channel on a 4 hour time frame. The price has bounced back up from its minor support zone but the 20 day moving average has acted very much as a resistance line and pushed the prices lower. Given that we are trading below the 20, 50 and 100 day (shown in pink, yellow and red respectively ) moving averages and this shows bears are in control of the price.
Read MoreThe precious metal has broken its upward trend line on an intra day (4 hour) time frame. This shows that the bulls are losing their control. The price is trading below the downward trend line and it may continue to do until we reach some sort of minor support zone. The 50 and 100 day moving averages, shown in yellow and red colour respectively, do also act as minor supports and many traders will buy soon the price reach to them.
Read MoreThe EUR/USD pair is trading in a downward channel on a 4 hour time frame. The price has challenged the upper line of this channel more recently, but it failed to break above this and the selling pressure pushed the price lower.
Read MoreBitcoin is trading in a downward sloping channel on a 60 minute time frame. The price is challenging the upper line of this channel and a break of this trend line towards the upside will confirm that the bulls have taken a strong control of the price. The price has also broken out of of the ascending wedge pattern which is shown by orange lines and this is another confirmation of the bullish price action.
Read MoreThe USD/JPY pattern is trading in a downward channel on a 4 hour time frame. The bottom end of this channel is becoming narrow which means that the price has a little room to move if it was going to continue its movement towards the downside.
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