Posts Tagged ‘Forming’
AUDUSD may be forming a cycle bottom at 0.9537 level on 4-hour chart. Range trading between 0.9537 and 0.9700 would likely be seen in a couple of days. Support is at 0.9537, a breakdown below this level will indicate that the downtrend from 0.9953 has resumed, then another fall to 0.9450 could be seen. Resistance [...]
GBPUSD may be forming a cycle top at 1.5895 level on 4-hour chart. Another fall to re-test 1.5649 key support is expected later today, a break below this level will confirm the cycle top, then deeper decline could be seen to 1.5500-1.5550 area. Only break above 1.5649 level could suggest that lengthier correction of downtrend [...]
GBPUSD may be forming a cycle bottom at 1.5326 level on 4-hour chart. Key resistance is at 1.5597, a break above this level will confirm the cycle bottom and indicate that the fall from 1.5997 has completed at 1.5326 already, then the following uptrend could bring price back 1.5700-1.5800 area. However, as long as the [...]
EURUSD may be forming a cycle bottom at 1.3074 level on 4-hour chart. Range trading between 1.3074 and 1.3333 is expected in a couple of days. Support is at 1.3074, as long as this level holds, we’d expect uptrend to resume and one more rise to 1.3500 area is still possible after consolidation. However, a [...]
USDCAD is forming a triangle pattern on daily chart. Resistance is at the upper boundary of the pattern, now at 1.0605, a clear break above this level will indicate that the uptrend form 0.9930 has resumed, then another rise towards 1.0852 (May 25 high) could be seen. Support is located at the lower boundary of [...]
USDCHF might be forming a cycle bottom at 1.0578 level on 4-hour chart. Key resistance is at the upper border of the falling price channel, now at 1.0685, a clear break above the channel resistance could confirm the cycle bottom, then further rise could be seen to 1.0750-1.0800 area. As long as 1.0800 level holds, [...]
GBPUSD is forming a cycle top at 1.5128 level on 4-hour chart. Key support s now at the lower border of the rising price channel, now at 1.4910, a clear break below the channel support will confirm the cycle top and indicate that the uptrend from 1.4346 is complete, then the following downtrend could bring [...]
EURUSD may be forming a cycle top at 1.2466 level on 4-hour chart. Deeper decline to test 1.2241 key support could be seen later today, a breakdown below this level will confirm the cycle top and indicate that the rise from 1.1876 has completed, then the following downward movement could bring price to 1.2050-1.2100 area. [...]
AUDUSD might be forming a cycle top at 0.8550 level on 4-hour chart. Key support is now at 0.8383, a break below this level will confirm the cycle top and indicate that the bounce from 0.8066 has completed, then another fall to 0.8250 area could be seen. Resistance is at 0.8550, only rise above this [...]
GBPUSD might be forming a cycle top at 1.4609 level on 4-hour chart and the fall from 1.4609 could possibly be resumption of downtrend from 1.5522 (Apr 15 high). Another fall to test 1.4230 would more likely be seen later today, a breakdown below this level could signal resumption of downtrend. Resistance is at 1.4609, [...]
