GBP / JPY is very close to where a fall may occur. The pair is currently in a descending triangle pattern. The buying force was amortized by the downtrend line. With the arrival of the bears with the selling force, a low candle was formed. We expect the bear kick to be strong enough to send the pair close to the support level.
- Price touched a few times...
Index on Monday, retraced from its lower trendline as well as upper trend line in the last trading hour. Index closed the day just below the upper trendline.
any fall below 11,690 could mean lower break-out of the triangle. any rise above 11,755 could mean upper break-out.
At resistance sym triangle breakout. To confirm breakout at close level price should be above 806. Let us see whether intraday and expiry impact to hold this level or resistance confirming to the journey back to 700.
today i missed to upload.
traingle pattern breakout buy above 945 target 951 sl 939.
now for tomorrow buy above 952 target 960 sl 944.
upl has resistance area 963 zone if it breaks and sustain for 15 min go long for positional target 993
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...
Kind of forming a Sym.Triangle with possibility of breakdown, as the RSI indicates!
A sell on rise candidate around the 3050 - 3070 zone.
From CMP, if price breaks below 2970, next stops will be around 2945, 2890, 2850 (best support).
On the contrary, the trend can reverse above 3030; and can go upto 30 60 - 3070.
A close above 3070, will be a bullish break out of...