The EUR/USD pair fell from its resistance on a 30 minute time frame. This zone was given in our analysis on Friday. The price is trading below the downward trend line which means that the upward trend is becoming weaker. Moreover, the price is also trading below the 50 day (shown in green) and the 100 day (shown in yellow) moving averages which confirms that the bulls are losing their control.
Read MoreThe EUR/USD pair is trading in its resistance zone on a 30 minute time frame. This is a major resistance zone because the price is visiting this level for the first time and this upward trend could pause or reverse its direction. The pair is trading above the upward trend line and has not broken this trend line which represents the strength of this upward trend. Moreover, the price is also trading above the 50 day (shown in green) and the 100 day (shown in yellow) moving averages which confirms that the bulls are losing their control.
Read MoreThe EUR/USD pair is trading in an upward channel on a 30 minute time frame. The price could be more biased toward the upside because it has been challenging the minor resistance (mentioned below) more as compared to the support zone. However, , the price is also trading below the 50 day (shown in green) and the 100 day (shown in yellow) moving averages which confirms that the bulls are losing their control.
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The GBP/USD pair fell from its resistance on a 30 minute time. This resistance zone was given in our analysis yesterday. However, this resistance zone my no longer hold if the price visits this specific zone again as the price has already visited this level for 3 times. Generally speaking, the fresh levels are the best levels and there is more probability of price changing its direction when it visit that specific level.
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The AUD/USD pair has bounced from its support on a daily time frame. This support zone was given in our analysis on 26th June. The price also pierced the Bollinger band at this level and the piercing of the Bollinger band does have a significant importance at an important level of support/resistance because this could reverse the trend or push the price back towards its mean. However, the price is still well below the 50 day (shown in green) and the 100day (shown in yellow) moving averages which means that the bears are still in strong control.
Read MoreThe USD/JPY pair has bounced from its support on a 30 minute time. This support zone was given in our analysis on 29th June. However, this support zone my no longer hold if the price visits this specific zone again as the price has already visited this level for 3 times. Generally speaking, the fresh levels are the best levels and there is more probability of price changing its direction when it visit that specific level.
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