The market seems to have come to its senses after the post news profit booking rally, friday.
It has broken its bullish trendline in the 15-min chart, indicating dwindling buying momentum.
To add to it, the ADX indicator has also turned bearish.
Hence, we expect the arrival to bears in the counter and the pair to make a move to its intraday support at 0.66195.
WEAKNESS SEEN IN BATA INDIA. WE CAN SEE THAT BATA INDIA STOCK HAS FORMED A EVENING STAR CANDLE ON DAILY TIME-FRAME. CAN ENTER SHORT ENTRY AFTER PRICE FALL TO 1438 LEVELS.
The Japanese central bank meeting has brought a halt to the rally in the counter.
Technically, the pair has broken its bullish trendline.
It also failed to hold the breakout of a critical resistance of 111.805.
So, the resistance is back into play and the broken trendline will add to the woes of the bulls.
Hence, we expect the pair to be bearish and move to the...
The pair plunged from the top with a great momentum.
Now, it has hit the brick wall which has been its long-term support zone.
And as expected, it has bounced back sharply too and in the due process it has broken the bearish trendline.
Hence, a profit booking rally seems imminent. So, traders can buy on the short-term pullback (dips) and expect a rally to the...
The weakness in the Euro is blatant. And now it has formed right tilted head and shoulder pattern against NZD as well.
The price has broken the neckline and is setting up for huge intraday downside move.
Hence, we expect the pair to reach the support levels of 1.68633 and 1.68406 for the intraday.
The counter is in a long-term bear cycle.
It plunged to 0.69000 during the wave 3 move and recovered a bit, then consolidated.
The consolidation was in the form of a triangle, which is a typical phenomenon of wave 4.
Now, the pair has resumed its bearish trend move.
Also, the fundamentals are poised for a bearish outlook as well.
Hence, we expect the pair to move...
The pair has plunged after the Australian CPI data.
Now, it has formed an inverse head and shoulder pattern in the 15-min chart.
Also, the RSI indicator has backed up the bullish reversal formation with an inverse head and shoulder pattern of its own.
Hence, we expect the pair to pullback from the lows to the resistance of 78.870.
Despite several attempts to break down the support of 1.29783, the support remains tall.
The counter has bounced off from the lows and formed a double bottom pattern in the hourly chart.
It also took down a critical resistance of 1.30085 in the due process.
Now, its currently testing the broken resistance.
We expect the broken resistance to lend support and push...
The pair has formed a subtle head and shoulder pattern in the 4-hour chart.
It has broken the neckline too and is currently consolidating just below it.
Hence, we expect the pair to trade with bearish bias and move to the support level at 78.618.
CAD/CHF has bounced sharply to the highs of 0.75969.
It consolidated in the highs with a flat correction.
The MACD indicator moved into the sell zone owing to correction but has now reversed to the buy zone.
We expect the pair to higher and trade with positive bias from here, however, the counter might find support at the trendlines which we indicated in the chart...
The counter has a newly found bullish momentum.
It has formed higher highs from the lows. The lower lows formed can be connected to form a bullish trendline as well.
Also, it has formed an inverse head and shoulder and broke its neckline.
It is at the confluence of supports - neckline and trendline, which can be a tough nut to crack.
Hence, we expect the pair to...
The counter is brimming with bearish signals technically.
In the price action front, the pair has formed a double top pattern and broke its critical support of 146.327 as well.
A bearish trend line drawn from the highs is also pushing the price downwards.
In the indicator front, the RSI has formed a head and shoulder pattern in the hourly chart. The neckline of...
Gold is in a tricky spot now. A solid reversal has formed on one side, while it can be construed as a continuation pattern, as well.
On hindsight, it might look as a simple head and shoulder pattern which can give a bearish breakout.
But, if you look closely, it is currently in a Elliott wave formation and it is currently going through a correction in the form of...
The pair is confined within the ranges of 1.57393-1.60778 for the past 2 months.
It can be construed as ABC correction and the pair is assumed to in bull cycle.
The value of 1.57393 provided strong support to the counter and it reversed the pair from the downtrend.
A double bottom pattern formed at the formidable support of 1.57393 is actually the wave 1 and 2 of...
Bitcoin broke out if its range bound movement and made a steep rally to the value of $5400.
But the momentum declined in the past few sessions and it formed a rising wedge pattern.
It broke the pattern with a strong momentum candle.
Hence, we expect a corrective rally in the counter and the price to move to the support values of 4693.02 and 4463.69.
The yellow made use of the uncertainty surrounding the EUR,USD and GBP and made a significant up move.
It is currently consolidating for a move towards the trendline.
We expect the trendline to lend support for another leg of up move.
The next resistance is placed at 1312.487 and traders can expect a swift upswing.
The support of 0.68840 proves to be a tough nut for the bears.
After bouncing back sharply twice, the pair was under the cloud of a bearish trendline for 5 months, which has broken now.
Also, the pair found support at 61.8% of the previous rally, which is a strong bullish sign.
Hence, we expect the trade with bullish bias. The next levels to watch out for are the...
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