The EUR/SEK pair has formed a head & Shoulder pattern on a daily time frame. If this pattern does play out completely, it could push the price towards the 8.40 level. The pair is also trading below the downward trend line which further strengthens the above argument.
Read MoreThe GBP/USD pair has broken its upward channel on a 30 minute time frame. The break of this upward channel has pushed the price back towards it minor support zone (1.4867-1.4827). The pair is trading below the 50 day (shown in green) and 100day (shown in yellow) which means that the bears are in control and therefore this minor support zone may not hold any more.
Read MoreThe EUR/USD pair is trading within the upward channel (shown in white) on a 30 minute timeframe. The upward movement of the recent trend is capped by the upper line of this channel which is also inline with a minor resistance level. However, the price is trading above the 50 day (shown in green) and 100 day (shown in yellow) moving averages which could push the price up. Nevertheless, if the price action does break the upward channel, it could face another resistance by a downward channel (shown in purple).
Read MoreThe GBP/USD pair is trading with in its support zone on a 30 minute time frame. The price may not bounce from this level of support as it failed to bounce back up from this level on its first touch. The second touch has taken the price deeper in the zone which means that there may not be enough buyers at this support zone who could push the price back up.
Read MoreThe EUR/USD pair has completed a symmetrical triangle pattern on a 30 minute time frame as predicted. The projection of this triangle pattern was given in our analysis on 2nd of July and it is shown by the rectangle on the chart (shown in purple).
Read MoreThe GBP/USD pair has bounced from its support zone on a 30 minute time frame. This support zone was given in our analysis yesterday. The price action is trading above the 50 day (shown in green) and the 100-Day (shown in yellow) moving averages which show that the bulls have taken the control. The pair was also able to break its downward trend line which further confirms the above argument. The volatility for the pair has dropped as well because the price is trading within the Bollinger and close to its 20-day MA.
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