Technische Analyse | Sharp Trader

GBPJPY- Upward move could continue

The GBP/JPY pair is trading above the upward trend line on a 4 hour time frame. The volatility for the pair is high as it has pierced the Bollinger band and it is also trading well above its 20 day moving average.

Technical AnalysisBy sharptrader

USD/JPY – Fell from its resistance as predicted- What Now?

Strategy in Play:

The USD/JPY fell from its resistance on a 30 minute time frame as predicted. The resistance zone was given in our analysis on 8^th of October. However, the price is trading above the 50 day (shown in green) and the 100 day (shown in yellow) moving averages which means that the bulls are in control. Moreover, the pair is also trading well below the upward trend line which further confirms that the above argument.

Technical AnalysisBy sharptrader

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

Focus: the resistance at 1.6175 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 1.5955 zone.

Strategy in Play:

The GBP/USD is trading in a support zone on a 30 minute time frame. The pair has also broken its wedge pattern on the same time frame with a gap towards the downside. If this pattern does play out completely then we could easily see the price near the major support area.

Technical AnalysisBy sharptrader

Copper – Fundamental vs Technical Analysis

Fundamental Analysis

Copper continues to move in a sideways pattern as the political uncertainties continue in Washington. Another day of fruitless conversation between the Democrats and Republicans over the US government shutdown has passed and there is still no resolution in sight. Traders are even more cautious as this could have serious consequences for the global economy which could hurt the demand for copper.

Technical AnalysisBy sharptrader

USD/JPY- Trading in a downward channel- Selling pressure may continue

The USD/JPY pair is trading in a downward channel on a 4 hour time frame. The price action is still very fragile as the pair has not been able to break this channel to the upside which represents the weakness.

Technical AnalysisBy sharptrader

EUR/USD- Symmetrical Triangle formed – Will you trade?

The EUR/USD pair has formed a symmetrical triangle on a 30 minute time frame. The price has broken this triangle towards the upside and if it completes this pattern it could easily push the price near the resistance zone (mentioned below).

Technical AnalysisBy sharptrader