Technische Analyse | Sharp Trader

USD/JPY- In a support Zone- Will you buy it?

Strategy in Play:

The USD/JPY has bounced from its support zone on a 30 minute time frame as predicted. The price is trading below the 50 day (shown in green) and the 100 day (shown in yellow) moving averages which means that the bears are in control. The volatility for the pair is high as the price has pierced the Bollinger band and it is trading away from its 20 day moving average. The piercing of the Bollinger band does have a significant importance when this takes place at a resistance/support zone, because this has an ability to stop the upward/downward move or reverse the trend

Technical AnalysisBy sharptrader

EUR/USD- Price in a Resistance zone – Will you trade

The EUR/USD is trading in a resistance on a 30 minute time frame. This the first time that the price is visiting this level since the 3^rd of October. The volatility for the pair is high as the price has pierced the Bollinger band and it is trading away from its 20 day moving average. The piercing of the Bollinger band does have a significant importance when this takes place at a resistance/support zone, because this has an ability to stop the upward/downward move or reverse the trend.

Technical AnalysisBy sharptrader

GBP/USD- In a resistance zone – will you trade

Focus: the resistance at 1.6070 remain in focus as a major obstacle and the pair needs to break this resistance to confirm further upward trend. The immediate support is near the 1.5891 zone.

Strategy in Play:

The GBP/USD is trading in a resistance zone on a 30 minute time frame. The volatility for the pair is high as the price has pierced the Bollinger band and it is trading away from its 20 day moving average. The piercing of the Bollinger band does have a significant importance when this takes place at a resistance/support zone, because this is an ability to stop the upward/downward move or reverse the trend.

Technical AnalysisBy sharptrader

Copper- Fundamental and Technical Ana

Fundamental

Copper is trading in an extremely tight range as investors are focused towards Washington and wondering if the politicians can finally understand the urgency of resolving this political gridlock which has once again called for deja vue. The rating agency, Fitch, has put the biggest economy of the world, U.S on a negative watch due to illiterate attitude which politicians are using to resolve the debt ceiling and the government shutdown dispute

Technical AnalysisBy sharptrader

GBP/USD- Symmetrical Triangle pattern formed – will you trade

Focus: the resistance at 1.6051 remain in focus as a major obstacle and the pair needs to break this resistance to confirm further upward trend. The immediate support is near the 1.5891 zone.

Strategy in Play:

The GBP/USD is trading in a symmetrical triangle on a 30 minute time frame. If the price breaks this pattern to the upside, we could see the price near the 1.6069 level. Moreover, the price is trading above the 50 day (shown in green) and the 100 day (shown in yellow) moving average which confirms that the bulls are in strong control.

The RSI is trading in-line with the price action which means that the bias could be to the upside.

Technical AnalysisBy sharptrader

COPPER- Fundamental And Technical Analysis

Fundamental

Uncertainty over the US political deadlock is heavily influencing the demand for Copper which is under constant punishing pressure. One would think that there could have been a possible resolution between the Democrats and the Republican, but obviously given the circumstances, it seems a very naïve and optimistic hope and the result of this is gruelling the commodity market.

Unquestionably, the politicians in Washington need to stop playing this rotten game with the markets and stop testing the exhaustion level of traders. The budget talks which are heading towards the final chapter of this long drawn out saga could even fail in this phase as well, as there are still tensions between the Democrats and the Republicans over the sequester cuts.

Technical AnalysisBy sharptrader