As we forecast downtrend for this day, so Forecast City suggests sell (limit) below R1=1.318.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: S1=1.3085.
TP4: S2=1.306.
Set the stoploss of these orders at breakout of R2=1.321.
Stop and reverse:
If trend gets reversed, buy (stop) orders will be opened at breakout of...
Trading suggestion:
. There is a possibility of temporary retracement to suggested support line (1.3010). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. GBPUSD is in a uptrend and the continuation of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
....
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.1095.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=1.1135.
TP4: R2=1.115.
Set the stoploss of these orders at breakout of S2=1.1075.
Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of...
Trading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (1.3255). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. USDCAD is in a range bound and the beginning of downtrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=0.68.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=0.6835.
TP4: R2=0.6855.
Set the stoploss of these orders at breakout of S2=0.679.
Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of...
The US dollar remains under downside pressure against the Japanese yen, following the release of more weak data from the US economy. From a technical perspective, the USDJPY pair is extremely weak while trading below the 108.60 support level. Going forward, a break under the 108.20 level exposes the USDJPY pair to heavy technical selling towards the 107.50 level...
USDINR after reaching its high level range 72.20 is trying to test -- support range of 71.20-71.40
Any break down in any levels may lead to the further down levels of 70.48.
On the Resistance side, it may test 72.53 & 73 levels in the coming days.
Be Cautious with each trade.
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Market Commentary|Investiture.in
Trading suggestion:
. There is a possibility of temporary retracement to suggested support line (1.2875). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. GBPUSD is in a uptrend and the continuation of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
....
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.2815.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=1.2875.
TP4: R2=1.29.
Set the stoploss of these orders at breakout of S2=1.277.
Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of...
The euro has started to firm test towards the 1.1100 level against the greenback as expected, following another round of weakness in the US dollar index. Buyers now need to rally the EURUSD pair above the 1.1110 resistance level to provoke a major technical breakout. Overall, buying any dips lower in the EURUSD pair appears to be the best option while the US...
The US dollar has fallen back under the 108.90 level against the Japanese yen currency, making the pair technically bearish over the short-term. Continued weakness under this key area could provoke further losses towards the 108.20 level. The USDJPY pair could capitulate to technical selling if the 108.20 support level is broken.
• The USDJPY pair is only...
The British pound has moved to a fresh six-week trading high against the US dollar, with the pair moving above the psychological 1.3000 level. Buyers need to hold price above the 1.3000 level to maintain the bullish medium-term range breakout. The GBPUSD pair could easily advance towards the 1.3100 level at this stage, with the 1.3200 level the ultimate upside...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.297.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=1.301.
TP4: R2=1.3055.
Set the stoploss of these orders at breakout of S2=1.295.
Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of...
The euro is rising against the US dollar, following comments from US President Donald Trump surrounding more interest rate cuts from the Federal Reserve and weak US data. The EURUSD pair needs to hold price above the 1.1045 level to encourage fresh technical buying interest. A daily price close above the 1.1075 resistance level should be considered bullish for the...
The British pound is firming above the 1.2940 level against the US dollar as the greenback comes under a fresh round of selling pressure. A sustained break above the 1.2960 resistance level exposes a potential technical test of the psychological 1.3000 level. Once above the 1.3000 level, the GBPUSD pair could quickly trade higher, with the 1.3200 resistance level...
Trading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (0.9980). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. USDCHF is in a range bound and the beginning of downtrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic...
As we forecast downtrend for this day, so Forecast City suggests sell (limit) below R1=1.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: S1=0.996.
TP4: S2=0.994.
Set the stoploss of these orders at breakout of R2=1.002.
Stop and reverse:
If trend gets reversed, buy (stop) orders will be opened at breakout of...
The euro is trading back above the 1.1000 level against the US dollar after the pair bounced fairly sharply from the 1.0980 level on Friday. A daily price above the 1.1070 level is now needed to confirm that a major technical bottom is in place for the EURUSD. Looking at the downside potential, a daily price close under the 1.0990 level should encourage bears to...
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