GBP/USD- Completed its descending triangle pattern- What Now?

The GBP/USD broke its descending triangle pattern to the upside on a 30 minute time frame. The triangle completed its bullish pattern which is shown by the yellow triangle pattern on the chart. However, the price is still away from its meaningful resistance level and it may close its gap first before it continues to move back towards its resistance level. The pair is trading above the 50 day (shown in green) and the 100 day (shown in yellow) moving averages which confirm that the bulls are still in control.

Technical AnalysisBy sharptrader

EUR/USD- Fell from its resistance as predicted

EUR/USD- Fell from its resistance as predicted

Focus: The pair need to break the 1.3367-1.3401 resistance zone to confirm the uptrend. The immediate term support zone could be near the 1.3126-1.3099 zone.

The EUR/USD fell from its resistance on a 30 minute time frame as predicted. This resistance level was given in our analysis on 13^th of September. The resistance zone is not strong enough any more as this was the third time the price was visiting this level and the pair may be able to trade through this level very easily if it does come to this level again. The EUR/USD pair is trading well above the upward trend line and it may close the gap first which was created over the weekend, before continuing its move to the upside. 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.

Technical AnalysisBy sharptrader

GBP/USD- Fundamental Vs Technical Analysis

Fundamental Analysis

GBP/USD- Mark Carney’s forward Guidance drives the GBP

The trail of better than expected economic data for the UK, has pushed the GBP higher against the basket of currencies and the FTSE 100 is also trading towards its July’s high. The unemployment data released yesterday which came much better than anticipated will make things more difficult for Mark Carney who will be giving his testimony to the Treasury select committee. I will say that the main focus during this meeting could be toward his forward guidance given that the economic data is on a continuous path of improvement.

Technical AnalysisBy sharptrader

EUR/USD- Fundamental Vs Technical Analysis

Fundamental Analysis

EUR/USD- Can Germany approve an anther bailout for Greece

Chancellor Angela Merkel who is fighting for a third term is facing an extremely challenging situation during her campaign. One thing is certain that German people are not agreeing to keep providing the support for Greece. Bernit Coure , the ECB’s board member, has confirmed earlier this week that Greece could need another two more bailout payment to keep the country float. Regardless of who wins the election in Germany, approving of another bailout package for Greece could be tremendously problematic.

Technical AnalysisBy sharptrader

GBP/USD- Price fell from its resistance again as predicted- What Now

The GBP/USD pair fell from its resistance zone on a 30 minute time frame as predicted. This resistance zone was given in our analysis on the 10^th of September. The pair has broken its upward channel to the upside. Moreover, the pair is also trading above the 50 day (shown in green) and 100 day (shown in yellow) moving averages which confirm that the bulls are in strong control.

Technical AnalysisBy sharptrader

Apple- Technical Analysis is pointing for a downward pressure

Apple fell from its resistance zone on a 30 minute time frame. This resistance zone does have significant importance as there was a huge imbalance in the price and hence it fell sharply with a gap down from this zone. Apple is also trading in a bearish wedge pattern which by the yellow lines and its shows that the price may break this wedge to the downside, as there is more consolidation of price near the bottom line of this wedge. Moreover, the price has already broken the upward trend line, which further confirms that the bias could be to the downside.

Technical AnalysisBy sharptrader