The EUR/USD pair is moving higher by making higher highs and lower lows on a 30 minute time frame. The price briefly broker the 50-day (shown in green) and 100-day (shown in yellow) moving average but recovered rapidly and it is trading back above the both lines. This represents that the bulls are back in control and the bias could be to the upside.
Read MoreThe GBP/USD pair has formed a reversed Head & Shoulder – a bullish pattern on a 30 minute time frame. If this pattern does play out then we could easily see the price near the 1.5848 level. The price is also trading above the 50-day (shown in green) and 100-day (shown in yellow) which confirms that the bulls are in control of the price. However, the price has broken the upward rising trend line which means that the upward trend has become weaker.
Read MoreThe GBP/USD pattern has broken the upward trend line on a 30 minute time frame. The price is also trading below the 50 day (shown in green) and 100 day (shown in yellow) moving averages which represents a shift in control from the bulls to the bears. The volatility for the pair is high as the price has pierced the Bollinger band however there is no significant level of support zone there.
Read MoreThe USD/JPY pair was few pips shy off before bouncing back up on a 30 minute time frame. The momentum is changing hands from bears to bulls as the price has gone above the 50 day (shown in green) but still below the 100-day (shown in yellow) moving average. The price is still trading well below the downward trend line which means that the downward trend is still intact.
Read MoreBear Case
The EUR/USD pair fell from its resistance level on a 30 minute time frame. This resistance level was given in our analysis on 10th of June. The price is trading below the 50-day (shown in green) and 100-day (shown in yellow) moving averages which show that the bulls are losing their grip. Moreover the 50-day MA is also about to cross the 100 day MA which could further strengthen the downward correction move.
Read MoreThe USD/JPY pair has broken its support zone on a 30 minute time frame. This support was not a fresh level of support so there was much less probability of this support zone to hold and that was the reason that we marked this support zone a minor support zone. The price is trading below the 50 day (shown in green) and 100 day (shown in yellow) moving averages which represents that the bears are still in strong control.
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