From the trendline, the pair made a strong impact move and then formed a corrective structure. With the completion of ABC waves, the pair is poised to kickstart its next bearish rally. Hence, we expect the pair to move to the support levels at 1.50379 and 1.49305.
The descending channel resistance has come to play in the EUR/USD. The price, after making a V-shaped rally is at a price action resistance zone now. Owing to the above two factors, we expect the pair to turn bearish from here.
The pair formed a head and shoulder pattern in the hourly chart and broke out of its neckline. The follow up rally was also intense with good momentum. Hence we expect the pair to continue its momentum and run off to the supports at 1.58974 and 1.58569.
AUD/USD has formed a double top pattern in the 15-min chart. It has also moved past its critical support at 0.78787. Hence we expect the pair to be bearish in the near-term.
CHF/JPY is in an uptrend in the hourly charts. It is forming higher highs consistently with the aid of an immediate trendline. Hence we expect the pair to take support at the trendline and continue its momentum.
EUR/CHF has made a bearish breakout from the symmetrical triangle formation. It is currently retracing to test the broken resistance. Hence we expect a strong bearish momentum from here .
The Hourly chart of Bullion metal is currently in UPtrend. It is currently trading around the support zone of the trendline. Hence, we expect the metal to move to the resistive trend line of the ascending channel.
After completing a short-term bull cycle move, EUR/NZD is poised for a corrective movement. Also, it broke the trendline that embedded the bear cycle. Hence we expect the pair to move retract to support levels at 1.64859 and 1.64626.
After forming a double top, the pair has broken a critical support as well. Now the pair is resisted by the broken support at 0.68958. Hence, the pair is set to make a bearish move from here.
The pair has formed a classic inverse head and shoulder formation in the hourly chart. It broke the neckline and is currently consolidating just above it. Hence we expect the apir to move to the resistance at 0.71205.
CHF/JPY, after a steep fall, consolidated in a tight range. After consolidation, it made a bullish breakout which hints a trend reversal. Hence, we expect the pair to move to the resistance at 111.137.
Gold is in a bull cycle in the 15-min chart. It has completed its wave 3 and is consolidating in the form of a wave 4. Hence we expect it to move higher to complete the wave 5.
AUD/USD is in a long term bear cycle. It has completed its 4 waves and has commenced its wave 5. The first two waves of the wave 5 is also completed and it is currently forming its wave 3, which could be the longest wave of the wave 5. We expect the pair to continue its bearish momentum for now.
EUR/NZD is at its long term bearish trendline in the 4-hour chart. Taking into account, the dovish stance of ECB, we expect the pair to dive from here. We anticipate the price to reach its support 1.64228.
EUR/AUD made a rally from its lows and completed its five wave structure. It is due for a 3 wave correction and has completed first wave. We expect it to pullback and then fall to the support at 1.59439.
AUD/JPY has let go of its bullish trend as it tripped over the trendline. It has plunged deep taking down a critical price action support as well. We expect the pair to retrace and take resistance at the broken support and then continue its downward journey.
The recent bullishness in the yellow metal hints of a long-term bull cycle. It has completed its 3rd wave in the form of 5 waves and is currently undergoing correction(wave 4). We expect the correction to come to a halt where the trendline and 50% retracement value confluences. We also anticipate a new high in the counter in the form of a wave 5.
AUD/CHF has broken out of a head and shoulder pattern in the 4-hour chart. It is currently hovering below its neckline. We expect the pair to face selling pressure and move down from here.