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traderpulse Updated 

The double top pattern formed in the 15-min chart indicates a trend reversal in the near term. Also, the pair crossed the critical price action support of 0.67827. Hence we expect the pair to move to the next support level at 0.67715.

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A head and shoulder pattern after a significant bullish move signals the completion of the rally. The price is hovering around its neckline for now. We expect it to render a bearish breakout and move to support of 60.85 owing to a profit booking rally.

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An inverse head and shoulder has formed in the 15-min charts. Also, a significant price action level of 1.83600 has been cleared convincingly. Hence, we expect the pair to trade with bullish bias in the near-term.

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The Index has broken the trendline which paved the bull rally for the past 10 days. It is consolidating below the trendline and there is a slight chance for a pull back rally to test the broken trendline. However, the break could trigger a profit booking rally and the index is set for a bearish move for now.

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A triangle formation has formed in the counter, in the short term. The price has bounced from the trendline sharply and is consolidating. Hence, we expect the pair to reach the resistive trendline.

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The falling wedge pattern which held the EUR/USD in the downtrend has been broken. Also, the preceding bearish move was characterized with minimal corrective rallies. Hence, this breakout will render a trend reversal, if at all a corrective rally, and move to the resistance at 1.3236.

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The falling prices have found support at the long term trendline in the 4-hour chart. To confluence the support, a bullish pinbar has also formed indicating the resurge in bullish bias. Hence, we expect the pair to move to resistive trendline for now.

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The bullion metal is in a rising ascending channel formation against the US dollar, in the short-term charts. As of now, it is at its supportive trendline, which we expect to hold. Hence traders can hop in and expect a rally up to the resistive trendline.

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A rare occurrence -- Triple top pattern, in the 15-min chart of USD/JPY. It also crossed the critical support of 110.424. Hence we expect the pair to pare down its gains and move south from here.

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The value of 60.5 resists the crude oil in making higher high. It has bounced back sharply from the resistance and crossed a critical support as well. Hence we expect it to retreat and come to support levels of 58.23.

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The pair has made a double bottom in the hourly chart. It can retrace to support at 1.03147, for now, which is a good entry point for long trades. We expect the pair to move to the resistance at 1.03523.

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The bullion metal is an ascending channel formation in the 4-hour chart. It faced rejection at the resistive trendline and formed three back to back bearish candles. Hence we expect the counter to remain bearish and the pair to recede to the supportive trendline.

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The pair is going down the hill slowly but steadily in a descending channel formation. It was thrown down by the resistive trendline, in the due process, crossing a support level of 0.71157. We expect it to test the broken support, which can be used as an entry point for a short trade, and then move to the supportive trendline.

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The trendline in the 15-min chart has run its course with a strong bearish candle closing below it. The price is just consolidating below the line for now. Hence we expect the pair to be bearish for the short term.

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The steep rally in the hourly chart ended, with the break of a trendline. The pair then rallied back and tested the broken trendline. The trendline provided a strong resistance and pair formed a lower high formation. Now it has crossed the a strong support at 111.124 which adds to it woes and hence we expect the pair to continue the bearish momentum further.

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The common currency broke its descending trendline after the FOMC meeting. The pair made a strong rally initially and is now in a pullback mode. According to elliott wave, it has completed its wave 4. The wave 5 is due which we expect to commence from here.

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The rally of the year -- 500 pips upward movement -- was merely a corrective wave (wave 4) of the bearish cycle. The break of the ascending channel implies that the wave 4 has completed and wave 5 has commenced. Hence, we expect the pair to trade with bearish bias from now.

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NZD/CAD has formed a head and shoulder pattern in the 15-min chart. Also, it broke its neckline with a strong bearish candle. Hence we expect the pair to head south from here.