EUR/USD Technical Analysis ~~ The counter is currently forming a bullish flag pattern. ~~ It is now sliding down to the support zone placed around 1.2000. ~~ The support zone presents a good buying opportunity, however, if you are a risk-averse trader, we advise you to go long after it crosses the resistance at 1.21322.
GBP/NZD Technical Analysis ~~ The counter has broken down a head and shoulder pattern. ~~ The pattern is right inclined which portrays extreme negativity in the counter. ~~ Hence, we expect the pair to be bearish in the short-term.
USD/CHF Technical Analysis ~~ The counter has been sliding down in a descending channel formation. ~~ It is now consolidating in a bear flag pattern and closing in on the upper parallel. ~~ We expect the pair to find resistance around here and then continue its downside.
EUR/USD Technical Analysis ~~ The counter has broken out of a deep consolidation. ~~ Technically, it could be interpreted as a pennant formation and box formation. ~~ Both signify deep consolidation and hence the pair has legs for a further bull run in the short-term.
GBP/USD Technical Analysis ~~ The counter has formed a cup and handle pattern in the long-term charts. ~~ There might be some consolidation in the near-term. ~~ We expect the pair to be extremely bullish in the near-term.
USD/CHF Technical Analysis ~~ The counter has found support at the lows. ~~ It is forming a base in the form of an inverted head and shoulder pattern. ~~ We expect the pair to soar when it crosses above the neckline. Hence, buy only above 0.89200.
EUR/USD Wave Analysis ~~ The counter is currently in a 3-wave bear cycle. ~~ Now, it has completed its wave B and is poised to commence its wave C. ~~ The engulfing bearish candle has marked the beginning of wave C and hence we expect the pair to be bearish in the near-term.
EUR/JPY Technical Analysis ~~ The counter has broken out of the critical resistance of 126.8-127. ~~ Further, it has broken out after strong consolidation in the form of flag patterns in price action and RSI indicator. ~~ Hence, we expect the breakout to sustain and catapult the prices higher.
GBP/USD Technical Analysis ~~ GBP/USD is forming an ascending triangle pattern in the short-term charts. ~~ Further, the continuation pattern has been formed after a breakout in the long-term charts. ~~ Hence, we expect the pair to be bullish in the short-term.