USD/CHF Technical Analysis ~~ The counter has been coiling within a 300 pip range. ~~ Now, it is at the lower end of the range and taking support. ~~ We expect the pair to head higher to the upper end of the range.
EUR/GBP Technical Analysis ~~ The counter has been in a steady decline for the last 3 months. ~~ Now, it has hit a strong support level which could trigger some profit booking. ~~ Further, the stochastic indicator has given a buy signal by crossing over from the oversold zone. ~~ Hence, we expect the pair to be bullish in the short-term.
AUD/CHF Wave Analysis ~~ The counter has been in a 5-wave bull cycle. ~~ Now, it is in the wave 4 phase which results in a bearish correction. ~~ Hence, we expect the pair to be bearish in the near-term.
AUD/NZD Technical Analysis ~~ The counter has been on a selling spree for the last 3 months. ~~ Now, it has broken down a critical support level of 1.05620 and retested it, validating the breakdown. ~~ Hence, we expect the pair to weaken further from here.
USD/CAD Technical Analysis ~~ The counter is currently hovering around long-term support of 1.3000. ~~ Though the price action has been able to marginally breakdown, it is not able to follow through. ~~ Further, the stochastic indicator has made a bullish crossover from the oversold zone in the 8-h chart. ~~ Hence, we expect the bulls to push the pair to higher levels from here.
NZD/USD Technical Analysis ~~ The counter has been in a strong uptrend in the long-term charts. ~~ In the short-term charts, it is moving up in an ascending channel. ~~ Further, it is currently at the lower parallel and hence it's a good time to go long.
EUR/AUD Technical Analysis ~~ The counter is currently in a bearish flag formation. ~~ It has formed a good base at the lower parallel and is ripe for a rally. ~~ Hence, we expect the pair to be bullish and move to the upper parallel from here.
GBP/JPY Technical Analysis ~~ The counter has been in an ascending triangle formation. ~~ Now, the range is narrowing and the pair is in a make or break situation. ~~ We expect the pair to render a bullish breakout, however, we advise traders to go long only above 140.341.
GBP/CAD Technical Analysis ~~ As we suggested earlier in our premium analysis, the counter has formed a bearish flag formation. ~~ It has now broken down with a strong volume candle. ~~ Hence, we expect the pair to move down to lower support levels.
EUR/JPY Wave Analysis ~~ The counter is currently in a short-term bull cycle. ~~ It is now in a consolidation phase which could be termed as wave 4. ~~ We expect the pair to surge to the high to complete wave 5.