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traderpulse

The daily chart of USD/JPY is in uptrend. It has formed an evening star pattern which signals profit booking might be on the cards. We expect the pair to face some selling pressure for now.

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The 4 hour chart of dollar index has formed a bullish trend line. Based on the price action,we expect the broken trend line to act as strong resistance. Also the point 95.53 is acting as a strong resistance. Hence we expect the price action to be bearish and find support at trend line.

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The 1-hour chart of EUR/USD is currently in a descending channel formation. The trend line also coincides with 200 SMA which could acts as strong resistance. As per our analysis,we expect a strong selling pressure immediately. On the contrary,if it breaks the resistance,we can expect short covering too.

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The 4-hour chart of EUR/GBP is in an ascending channe l formation. The centre median of the channel is acting as a good support. As per our analysis we expect it to bounce back from the support to top of the channel.

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The 4-hour chart of EUR/USD indicates that the pair is still in consolidation phase. The pair is facing selling pressure at higher levels. Though it crossed the resistance of 1.17209, it failed to hold on to the breakout and is currently moving downwards. We expect the selling pressure to get intensified from here and the pair is likely to get support at either of...

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The daily chart of the GBP/JPY has formed a Full Elliot Wave. It is poised for a bullish correction in the form of ABC Wave. The pair is also in downchannel formation and there is a good possibility that it will go towards its upper trendline. It has also formed a morning star pattern in the candlestick pattern. So as per the above analysis,we can expect the bulls...

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GBP/JPY has broken its bearish trend line. The price action has also created a higher low. The price action indicates that it will move towards the next resistance placed at 148.092. If it makes a bullish crossover above the resistance,then we can expect the price to move towards the major resistance of 149.967.

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The weekly chart of DXY formed a round bottom pattern and made a strong bullish move. It faced resistance around the value of 95.18. Its is currently trading near the 9-EMA which also coincides with the murray math line 4/8 value(support zone). Since both these are strong support zones,we can expect a good up move in short-term and once it crosses the...

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The dollar index is currently trading around a minor support zone. The price action and the stochastic indicator is showing a divergence. So there is a good chance of bounce back. It will retest the broken support zone which is a good time to short.

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The 4 hour chart of EUR/USD has formed double bottom pattern. It has also formed an ascending channel . It may retest the broken resistance before resuming its up rally.

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The Day candle chart of EUR/NZD formed the classic Megaphone pattern. It resisted and reacted well in the trend line resistance. The pair will be expected to be bearish and would reach the expected target considering longer term.

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The pair has formed a falling wedge pattern and has given a valid breakout above the wedge. It can witness a throwback and the price can retest the wedge line once again. Based on the current momentum and with the application of Murrey math line,we expect the pair to move towards the resistance zone of 1.35538

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The 4-hour chart of Dollar index has completed an (1-5) Elliot wave. It is due for an ABC corrective wave. The price action indicates that it has broken the support of 94.18. A small pullback up to the support level is expected. Once the the support has been re-tested the index will move towards the next support level placed at 93.22.

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The daily chart of USD/CAD has formed harmonic shark pattern AB=CD. The daily chart has also formed a long engulfing candle. Also in 4-hour chart a double top pattern has been formed. So we can expect some profit booking in the counter and a long retracement could be possible.

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The daily chart of the dollar index has formed a Full Elliot Wave. It is due for a correctio n in the form of ABC Wave. Also there is a possible double top pattern forming in the counter. The pair has also formed a evening sta r pattern in the candlestick. So as per the above analysis,we can expect a strong a downside in the Dollar index.

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The daily chart of GBP/CAD is currently in downtrend. The pair made 50% retracement of its previous move from 1.84000 to 1.70607. It is currently facing rejections at the 50% retracement level which is indicated by the formation of the bearish pin bar. As per our analysis,we expect the pair to move towards the price zone of 1.73476.

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The 4-hour chart of EUR/JPY formed a double top pattern and made a strong sell off. Now it currently retesting the support of the double top pattern. The chart is also forming a up channel which could be interpreted as bearish flag too. As per our analysis,the counter is trading around multiple resistance zones and a strong selling pressure could be...

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The 4 hour chart of DXY shows sideways movements and double top pattern With engulfing candle formed selling pressure intensifies further more here after Short until reaching the expected targets respectively.