DXY broke to the upside and rose significantly last week. But its rally looks likely to have come to an end for now. Therefore, we can expect a correction towards the support area as shown on the following chart.
Support is shown around 97.50. We have to keep in mind that
For most part of this month CHF has been the worst performing currency among majors. However, at this point we may be looking at signs of a reversal. The uptrend line on H4 time frame of GBPCHF has been broken to the downside.
The preference is to sell the pair.
Spot Gold (XAUUSD) had been falling for quite some time, and now gets support around 1275 zone.
We can now observer that Gold has formed an inverse Head & Shoulder on H4 and H1 timeframes. Therefore if the neckline is broken to the upside, we can expect the market to
We are looking at CADJPY, and we can see that the pair has bounced from the previous support zone.
The pair has bounced from that area in the near past as you can see on the chart. This is a good opportunity to buy, the target being the resistance zone around
We are looking at an ascending channel. We can see that the market has formed bearish patterns after hitting the resistance, the upper line of the channel.
Therefore, we can now expect the market to go looking for the immediate support as shown on the chart.
Disclaimer: Our analysis and forecasts given
EURCHF has seen a parabolic move upwards for the most part of last week. However, it is now facing resistance on the daily timeframe.
We can see that the pair has formed a hanging man pattern. It will be a big hurdle to break above the daily resistance. A break below
After a big downward move earlier, USDCHF has been consolidating in an upward channel. This is usually termed as a bear flag.
The price is currently staying around the upper bound of the consolidation channel. This is often a good area to sell for a short term trade, the lower
AUDJPY has been in an overall uptrend for the past two weeks. However the currency pair has now reached a massive resistance zone and closed on Friday to form a shooting star on the daily time frame.
We can look at 4-Hour time frame and look to sell when the
We are looking at UK 100 Stock Index. We can see an up channel. There has been a significant rally and now we have run into resistance and we can see there is possibility of downside towards the support zone.
Our preference is to the downside as indicated on the
We are looking at Australia 200 Index, on the 30 minutes time frame. We can observe a rising wedge.
Preference is to the upside as indicated by the arrow, towards the upper resistance zone of the wedge.
Disclaimer: Our analysis and forecasts given on this website are just our point of