The USD/CAD pair has broken out of an ascending triangle pattern a bullish pattern on a 4 hour time frame. If this pattern plays out completely, then we could easily see the price near the 1.078 resistance zone which is mentioned below. The volatility for the pair is low as the price is trading near the 20 day moving average and within the Bollinger band.
Read MoreThe AUD/USD pair has broken a major reversal pattern- Head & Shoulder on a daily time frame. The price is trading below the 50 day (shown in green) and 100 day (shown in yellow) moving average which means that the bears are in strong control of the price. The pair has pierced the Bollinger band at this level which means that the volatility for the pair is high. The piercing of the Bollinger band does have a significant importance when this takes place at an important level of support or resistance because this could reverse or pause the current trend.
Read MoreThe EUR/USD is trading above its upward trend line on a 30 minute time frame. The pair is also trading above the 50 day (shown in green) and the 100 day (shown in yellow) moving averages which is a further confirmation that the uptrend is still strong.
Read MoreThe GBP/USD fell from its resistance zone (minor) on a 30 minute time frame as predicted yesterday. However, the pair has broken this resistance level today and it is heading towards its next major resistance level which could have a strong potential to stop this upward move. The pair is also trading above the 50 day (shown in green) and below 100 day (shown in yellow) moving averages which confirm that the bulls have strong control of the price.
Read MoreThe GBP/USD is trading in an upward channel on a 30 minute time frame. The pair is also trading above the 50 day (shown in green) but below 100 day (shown in yellow) moving averages which confirm that the bulls are still in control. If the price breaks the 100 day moving average towards the upside, this could be another bullish sign. The volatility for the pair remains low as the price is trading within the Bollinger band.
Read MoreThe EUR/USD fell from its resistance level on a 30 minute time frame as predicted. This resistance level was given in our analysis yesterday. The pair has found a support near the 20 day moving average which also lines up with the Fibonacci’s 61.8% retracement level however, the main support area could be near the 1.3497 mark which is mentioned below.
Read More
