Technische Analyse | Sharp Trader

USD/JPY- Back in resistance zone again

The USD/JPY pair fell from its resistance zone on a 30 minute time frame as predicted. However, the price is revisiting this zone once again, and this is the third time the price is coming back to this level. This simply confirms that the bulls are in control, and this resistance may no longer hold anymore and the price may be able to trade through this zone. Moreover, the price is trading above the 50 day (shown in green) but above the 100 day (shown in yellow) moving averages which is a further confirmation of the above argument.

Technical AnalysisBy sharptrader

GBP/USD- Price fell from its resistance 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 5^th of September. However, the price is trading above its upward trend line which means that the upward trend is still intact. Moreover, the pair is also trading above the 50 day (shown in green) but above 100 day (shown in yellow) moving averages which confirm that the bulls are still in control.

Technical AnalysisBy sharptrader

EUR/USD – Fundamental Vs Technical Analysis

Fundamental EUR/USD – ‘What ever it takes’ message may continue

Mr Mario Draghi may play the same drum once again today so that that the market gets the sound which it received back in August. There is no doubt that the biggest economy of the Europe- Germany is showing a strong growth rate with a strong possibility of the spill over effects, but the peripheral countries are still not strong enough still to make them stand on their own feet yet, which leaves Draghi to keep believing the market that the ECB will certainly still stand by their phrase of ‘Whatever it takes’. I would say that the main challenge for the ECB is the forward guidance because we do certainly have some growth in the ECB but it’s the ECB pledge to keep the interest rate down for the extended period of time which could be challenging.

Technical AnalysisBy sharptrader

GBP- Fundamental Vs Technical Analysis

Fundamental GBP/USD. There may not be any firecracker in BOE’s Bank Rate

The FTSE 100 is trading higher during the early hours of trading. However, the volume is thin in the market as we are not seeing any bigger trades from investors ahead of the Bank of England’s meeting. I am not expecting any surprise or any kind of firework which could color up the sky in this meeting, as the UK’s economy is already building up the steam. You may think that Mr Carney has inherited a good fortune however, he also has inherited tough challenges, as the committee has pledged to keep the interest rate at 0.5% which presents a clear problem when it comes to sustain the inflationary pressure.

Technical AnalysisBy sharptrader

EUR/USD- Broken its support zone – What now

The EUR/USD pair has broken its support zone on a 30 minute time frame as predicted. This represents a clear weakness for the price action and the bias could certainly be to the downside. The pair is also trading below the 50 day (shown in green) and the 100 day (shown in yellow) moving averages which confirms that there the bears are in full control. The volatility for the pair is also low as the price is also trading within the Bollinger band and close to its 20 day moving average.

Technical AnalysisBy sharptrader

GBP/USD- A bullish pattern formed

The GBP/USD pair has formed a symmetrical triangle on a 30 minute time frame as predicted. These patterns usually break in the direction of the trend and as this pattern has already broken to the upside, this could easily push the price near the yellow rectangle area shown on the chart. Moreover, the GBP/USD is also trading below the 50 day (shown in green) and 100 day (shown in yellow) moving averages which confirm that the bulls in full control.

Technical AnalysisBy sharptrader