GBP/USD Falling Wedge Pattern Approaches Support within Wave-4
GBP/USD
4 hour
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The GBP/USD seems to be building a falling wedge chart pattern (green/yellow lines). Price is now testing the support of that wedge. The corrective chart pattern fits within the...
EUR/USD, GBP/USD Build Key Sideways Correction and Chart Patterns
EUR/USD
4 hour
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The EUR/USD is moving sideways as price stays in between support (green) and resistance (red) trend lines. The overall trend however is up and a bearish break could stop at...
Bullish EUR/USD, GBP/USD Test Resistance Fibonacci Levels
EUR/USD
4 hour
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The EUR/USD is probably in an extended correction within wave 4 (blue) when considering the sideways price movement between support (green) and resistance (red). Currently I’m...
USD/JPY Risk On Sentiment Pushing the Pair Towards 112 Zone
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The USD/JPY is being pushed towards next resistance by the backwind of risk on sentiment that is currently dominating the Forex market. When risk on sentiment is prevailing Gold goes down, Commodities are...
GBP/USD Bull Flag Continuation Chart Pattern Targets 1.3750
GBP/USD
4 hour
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The GBP/USD bullish momentum is strong and probably part of a wave 3 (blue). The resistance line (orange) is a potential resistance from the daily chart.
1 hour...
EUR/USD Completes ABC Correction at 100% Fibonacci Level
EUR/USD
4 hour
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The EUR/USD made a bullish bounce at the 100% Fibonacci level of wave C (red). Price will need to break above the resistance trend line (red) before the completion of wave 4 (blue)...
GBP/USD BOE Official Bank Rate Decision Important Levels
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The Bank of England MPC decision is due at 11 PM GMT. Market is expecting that policymakers leave interest rates at 0.25 %. But what traders and investors should be focused at is how many of policymakers will...
USD/JPY Bullish Momentum Faces Strong 111 Resistance Zone
USD/JPY
4 hour
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The USD/JPY bullish momentum broke above the resistance trend line (dotted brown) but price has a strong horizontal resistance level nearby (red). Price seems to be building 5...
EUR/USD Break, Pullback and Continuation Pattern at 1.20 Resistance
EUR/USD
4 hour
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The EUR/USD broke above the 1.20 round level resistance and continued its bullish momentum towards the 23.6% Fibonacci target at 1.2075. Price made a strong bearish...
EUR/USD Break, Pullback and Continuation Pattern at 1.20 Resistance
EUR/USD
4 hour
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The EUR/USD broke above the 1.20 round level resistance and continued its bullish momentum towards the 23.6% Fibonacci target at 1.2075. Price made a strong bearish...
EUR/USD Bullish Break above Triangle Pattern Challenges 1.20
EUR/USD
4 hour
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The EUR/USD did break above the resistance trend line (dotted red) of the triangle chart pattern as expected. This breakout is a continuation of wave 5 (green) of wave 3 (blue)...
GBP/USD Challenges Resistance of Downtrend Channel after 1.2775 Bounce
GBP/USD
4 hour
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The GBP/USD is testing the resistance line of the downtrend channel (red) after indeed bouncing near the round quarter support level of 1.2750. A bullish breakout could...
GBP/USD Weekly L3 and D H4 Confluence In Downtrend
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The GBP/USD broke below 1.2020, the weekly L3 level, thus turning the support into a resistance. After a short breakout that I showed on live trading webinar yesterday, the pair started to retrace towards the POC...
EUR/USD Retests Resistance of Bull Flag Pattern at 1.1825
EUR/USD
4 hour
The EUR/USD is challenging the resistance trend line (red) of the bull flag chart pattern. At the moment it is unable to break and a correction back to the support trend lines is possible. The next breakout above...
EUR/USD Slips Back into Triangle Pattern and Awaits Breakout
EUR/USD
4 hour
The EUR/USD failed to immediately continue with the bullish breakout yesterday and is building an expanded wave 4 (green) correction via a WXY (purple) pattern. A next breakout above the resistance trend line...
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