The EUR/USD pair has formed a reverse Head and Shoulder pattern (a bullish pattern) on a 30 minute time frame. If this pattern does play out completely it could easily push the price to the 1.3089 resistance level. Interestingly enough, at this level, the price will also complete the symmetrical triangle pattern shown by yellow rectangles.
Read MoreThe GBP/USD pair is falling from its resistance level on a 30 minute time frame. This resistance level was given in our analysis on 29th May. The price is trading above the 50 day (shown in green) and 100 day (shown in yellow) moving average which shows that the bulls have taken the control. Moreover, the price is also trading in an upward channel which further strengthens the above argument.
Read MoreThe USD/JPY pair bounced from its support zone on a 30 minute time frame. This support zone was given in our analysis the 29th of May. The price has closed well above the 50 day moving average and it has also taken out the 100-day moving average. This represents that the bulls have finally woken up and taken the control.
Read MoreThe EUR/USD pair is trading near the resistance zone on a 30 minute time frame. The price is visiting this level for the fourth time therefore this level may not have enough resistance to stop the price action this time. The pair is also trading above the 50-day (shown in green) and the 100-day (shown in yellow) moving averages which suggests that the bulls have taken the control and the price is bullish.
Read MoreThe GBP/USD is trading within the downward channel on a 30 minute time frame. The price has just broken its 50 day moving average (shown in green) to the upside but still trading below the 200 day moving average which suggests that the bulls have started to take the control. However, the recent upward move by price was capped by the 23.6 retracement level of Fibonacci and since then it has failed to break this level which represents a weakness in the price.
Read MoreThe USD/JPY pair fell from its resistance level on a 30 minute time frame. This resistance level was given in our analysis yesterday. The USD/JPY pair tried to find its support near the 100 day (shown in yellow) moving average but failed to do so. The pair is also trading sharply below the 50 day moving average (shown in green) which suggests that bears are in control.
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