Day: April 6, 2019

Last week EURUSD went back and forth in a rather tight range. We are currently just above the support level of 1.1200. Trading Preference – Inverse Head & Shoulder The preference is to buy the pair at this level, based on the strong support level and we can also see Inverse Head & Shoulder pattern as shown on the chart. If the price breaks below 1.1150, it is a very bearish scenario though. So keep caution trading this pair. Disclaimer: Our analysis and forecasts given on this website are just…

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AUDJPY has been in an overall uptrend for the past two weeks. However the currency pair has now reached a massive resistance zone and closed on Friday to form a shooting star on the daily time frame. Trading preference We can look at 4-Hour time frame and look to sell when the rising wedge has been broken. Disclaimer: Our analysis and forecasts given on this website are just our point of view about the market. It is not a trading signal or investment advice.  Recommended forex brokers

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After a big downward move earlier, USDCHF has been consolidating in an upward channel. This is usually termed as a bear flag. Trading preference The price is currently staying around the upper bound of the consolidation channel. This is often a good area to sell for a short term trade, the lower line of the channel being the target. However, we can also see a bigger longer term move, as bear flags when broken, can move down much lower. The case is also made stronger when we look at the…

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