USD/CAD Wave Analysis ~~ The counter has been consolidating in a sideways correction for the last few days. ~~ It could be interpreted as an ABC correction and the recent down move as wave B ~~ We expect the pair to find support in this zone head higher.
EUR/CHF Technical Analysis ~~ The counter has formed a dragon pattern. ~~ In a downtrend, it made a 38% retracement from the low and then rendered a false breakout. ~~ Further, it is on the verge of breaking out the trendline (a break validates it). ~~ Hence, we advise traders to be long in the counter once it crosses 1.730.
USD/CHF Wave Analysis ~~ The counter has been in a downtrend since the start of this year. ~~ The price was consolidating in a narrow for the last few months which could be interpreted as wave 4 of Elliott wave. ~~ Now it is on the brink of rendering a bearish breakout. ~~ We expect it to breakdown and complete wave 5.
Crude Oil Wave Analysis ~~ The strong upmove from below zero levels in the crude oil was consolidating for the last few months. ~~ It could be interpreted as wave 4 of Elliot wave which also resembles a bullish flag pattern. ~~ We expect the pair to be strongly bullish after it crosses the resistance at 41.90.
CAD/CHF Technical Analysis ~~ The counter has consolidated and formed a base at the lower. ~~ It could be interpreted as multiple inverted and shoulder patterns. ~~ Now, the pattern has broken out and hence we expect the pair to be bullish in the short-term.
EUR/USD Technical Analysis The hope (virus cure) rally has fizzled out. The pair hit the rang top, formed a head and shoulder pattern, and has broken down now. We expect the pair to hit the lower end of the range in the next few sessions.
GBP/JPY Technical Analysis ~~ The counter has been consolidating within a bearish flag pattern after the deep slide. ~~ It hit the upper parallel of the pattern and then made a strong sell-off. ~~ We expect the pair to move lower and break down in the short-term.
EUR/AUD Wave Analysis ~~ The counter is correcting in an ABCDE formation. ~~ It has completed wave D and is taking support at the trendline. ~~ We expect the pair to move higher to complete wave E.
NZD/USD Wave Analysis ~~ The counter has completed a 5-wave bull cycle. ~~ It is now poised to make an ABC correction and break below the support 0.68655 validates it. ~~ Hence, we advise traders to go short after the support breaks.
USD/JPY Technical Analysis ~~ USD/JPY made a strong impulse move two weeks before. ~~ But the rally fizzled out at the high and since then the pair is retracing its move. ~~ Now, it has found support around the 103.7 mark. ~~ A move beyond the resistance 104.2 can invite bulls once again in this counter and hence we advise traders to go long as soon as the pair breaks above it.