EUR/USD Technical Analysis ~~ As we mentioned in our previous post, 1.18700 is a strong resistance for EUR/USD. ~~ Now, it has formed a head and shoulder pattern at the zone and is coming down strongly. ~~ The next support is only at 1.17500 and we expect a free ride to bears till then.
AUD/CHF Wave Analysis ~~ After completing a bearish cycle, the counter is limping up to complete ABC correction. ~~ It is forming a wave A in the form of a bearish flag. ~~ We expect it to render a bearish breakout to form wave B.
USD/CAD Technical Analysis ~~ The counter has bounced off strongly from the support 1.31, after trapping the bears with a fakeout. ~~ Now, it has taken down a bearish trendline as well. ~~Hence, we expect the pair to be bullish in the short-term.
CHF/JPY Wave Analysis ~~ After completing a 5-wave bull cycle, the counter is currently in an ABC correction phase. ~~ It is now at a strong price action support zone and at the final stage of wave A. ~~ Hence, we expect the pair to be bullish in the near-term.
NZD/USD Technical Analysis ~~The counter was in a consolidation phase after a solid down move. ~~ The consolidation resembles a bearish flag pattern. ~~ Further, the entire setup could be interpreted as a head and shoulder pattern. ~~ Hence, we expect the pair to be bearish in the near-term.
EUR/USD Technical Analysis ~~ As we suggested earlier the counter is in an ABC correction and pushed down at the resistance zone. ~~Now, the bearish flag formation has also broken down, validating the wave C. ~~ Hence, we expect the pair to be bearish in the short-term.
AUD/JPY Wave Analysis ~~The counter is currently in a long-term corrective ABC structure. ~~ It has completed wave A and is consolidating in a box structure at the low. ~~ We expect it to break upside and move to form wave B.
EUR/GBP Technical Analysis ~~ The upside movement of the pair is capped by a bearish trendline. ~~ It attempted a breakout but fizzled out and the price action has formed an H&S pattern instead. ~~ Hence, we expect the pair to be bearish in the near-term.
as mentioned earlier, eur is moving choppily between 1.16 to 1.19 so its movement will be influenced mainly by major Eur news like rate change, or stock market performance, not those ABC things.
EUR/USD Wave Analysis ~~ The counter had completed its long-term wave 4 with an ABC correction. ~~ It had bounced off from the lows strongly by crossing the resistance at 1.1706. ~~ Further, if the price sustains at a higher level for the day, it could be interpreted as a morning star formation. ~~ We expect the pair to race away to highs and complete the wave 5.