GBP/JPY’s strong rebound last week indicates that a short term bottom if formed at 117.29, on bullish convergence condition in 4 hours MACD. Such development now argues that fall from 127.30 is over. Rise from 117.29 is likely the third leg of the cons…
EUR/JPY formed a short term bottom at 97.03 on bullish convergence condition in 4 hours MACD and rebounded strongly. Such rise could extend further higher but as long as 102.53 resistance holds, there is no indication of reversal yet. That is, fall fro…
EUR/GBP’s consolidation from 0.8221short term bottom continued last week and edged higher to 0.8378, but failed to sustain gain there. After all, more consolidative trading could be seen in near term first. But rebound attempt should be limited by 38.2…
EUR/CHF stabilized above 1.2061 temporary low last week and turned sideway. More consolidation might be seen this week but risk of another fall remains as long as 1.2198 resistance holds. However, even in case of another fall, we’d maintain that SNB sh…
EUR/USD rebounded further to as high as 1.2985 earlier today before retreating. With 1.2838 minor support intact, rebound from 1.2625 short term bottom is expected to continue to 1.3076 resistance and above. Though, we’d expect strong resistance at 38….
Near term focus in GBP/USD remains on 1.5500 resistance. Decisive break there will indicate short term bottoming with bullish convergence condition in 4 hours MACD. In such case, stronger rally should be seen back to 1.5773 resistance and above. Howeve…
Near term focus in USD/CHF remains on 0.9304 support. As noted before, sustained break there will confirm topping at 0.9594, on bearish divergence condition in 4 hours MACD and daily MACD. In that case, deeper decline should be seen back towards 0.8567…
Near term focus in USD/JPY remains on 77.33 resistance. Decisive break there will confirm completion of fall from 78.22 and indicate completion of whole correction pattern from 79.52, with three waves down to 76.55. In such case, further rally should b…
EUR/JPY rises to as high as 100.33 earlier today and touched mentioned target of 38.2% retracement of 105.54 to 97.03 at 100.28 before retreating mildly. With 98.54 minor support intact, rebound from 97.03 short term bottom could extend further higher …
As noted before, a short term bottom in EUR/USD is formed at 1.2625 on bullish convergence condition in 4 hours MACD. Intraday bias remains on the upside for further rebound to 1.3076 resistance and above. Though, we’d expect strong resistance at 38.2%…
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