The GBP/USD pair has broken out of its wedge pattern towards the upside. The projection of this pattern could push the price near the 1.4875 level. The price has retraced after touching the minor resistance zone which is mentioned below.This confirms that there are some sellers who are willing to push the price lower. The…
Read MoreThe DAX index is trading below its downward trend line on a 4 hour time frame. This confirms that the trend is skewed towards the downside and as long as we remain above this trend line, the bias may remain for further downside move. However, the bears have lost control of the price as we…
Read MoreThe precious metal is trading in a symmetrical triangle pattern on a 4 hour time frame. These patterns usually break in the direction of the trend and the current trend is towards the upside in that the price is trading above the trend line (shown in light blue). If the yellow metal does completes its…
Read MoreThe USD/JPY pair bounced from our identified support zone on a 4 hour time frame. The support zone was given in our analysis on the 18th April. The risk mentioned was 51 pips and the price moved in all the way to 109.32 which represents a potential profit of 108 pips. This is more than…
Read MoreThe USD/JPY pair is trading below its downward trend line on a 4 hour time frame. This confirms that the trend is skewed towards the downside and as long as we remain below this trend line, the bias may remain for further downside move. The price has pierced the Bollinger band, as shown in the…
Read MoreCrude oil has broken its downward trend line on a daily time frame. This confirms that the downward trend is no longer in play and the bias is skewed towards the upside. The price is also trading above the 50 (shown in yellow – Price 37.17) and 100 day moving averages (shown in red- Price…
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