Browsing all articles tagged with correction
May
2

GBP/USD D1 Technical May 02

The long term outlook remain bullish for GBP/USD. Yesterday GBP/USD manage to reached its physical level 1.5600. Now the resistance its around 1.5611 level. D1 is showing overbought zone for pair. So correction is expected.

There can be Two scenarios. First, GBP/USD move up and break its resistance and if  H4 candle close above 1.5611 level then cable is likely to got more bullish strength and continue its uppish movement.

Secondly, Price action on 1.5504 level should be watch. Above this level pair will remain in bullish trend. If GBP/USD manage to hold this level and H4 candle close above 1.5504 then it will provide again a good buy entry point.

High impact News can affect the trend of GBP/USD. News like Construction PMI, Trade Balance, Unemployment Claims.

Apr
29

GBP/USD D1 Technical April 29

The long term outlook for cable remain bullish. As the rate is on top of bollinger showing oversold for GBP/USD so there will so some correction. If GBP/USD test its resistance at 1.5550 level and fails to give a H4 closure above 1.5550 level then pair is likely to dropped towards south and target 1.5420 level.

On the other hand, If cable manage to break its resistance and H4 candle closure above 1.5550 level then GBP/USD will continue to move upward.

High impact News can affect the trend of pair. News like Pending Home Sales m/m.

Apr
12

AUD/USD H4 Technical April 12

Yesterday Aussies manage to break its resistance 1.0547 and target around 35 pips. Now the resistance is at 1.0580 level. As the price is at last Bollinger showing oversold of AUD/USD. SO, there can be correction and pair will move down to test its support 1.0493 level.

Price action on this level should be carefully handle. If AUD/USD mange to break this level and H4 candle close below support then pair will further dropped towards south. On the contrary, If pair hold its support level and H4 candle close above 1.0493 level, it will indicate bullish potential and pair will again continue its uppish trend.

High impact News can change the scenario. News like Core Retail Sales m/m, PPI m/m, Retail Sales m/m, Prelim UoM Consumer Sentiment, Fed Chairman Bernanke Speaks.

Mar
11

USD/CHF D1 Technical March 11

On last Friday USD/CHF break its resistance 0.9515 level and target 0.9550 level which is today’s resistance. As rate is at last Bollinger so pair is expecting for a correction.

Pair will test its support at 0.9465 level today. If pair manage to break its support and H4 candle close below it then USD/CHF will target 0.9430-400 level respectively.

Mar
8

USD/CHF D1 Technical March 08

As USD/CHF was expected for the correction yesterday. Pair target around 85 pips. But 0.9400 level is still there, above this level pair is likely to have bullish strength. Now the key resistance is around 0.9515 level. If pair manage to break its resistance and H4 candle close above it then we are expecting USD/CHF to continue its northward trend.

High impact Data’s can affect the trend of pair. Data’s like Non-Farm Employment Change, Unemployment Rate.

Feb
4

EUR/USD D1 Technical February 04

Bollinger bands are showing oversold for the EUR/USD. Pair will come towards south for the correction, today’s support is at 1.3600 level. If pair breakthrough this level and H4 candle close below 1.3600 level then we will see further downward movements. On the contrary, If pair hold its support today then we will see EUR to make New highs in this week.

Jan
31

AUD/USD D1 Technical January 31

 The trend for the pair is neutral , The rate is on last Bollinger so there can be some correction. Yesterday AUD target  50 percent Fibonacci. If pair manage to close below this level today then we will see further southward movement towards  38.2 percent Fibonacci retracement. On the contrary, 1.0480 level will change the scenario and pair will target 1.0500-20 respectively.

Lately high impact News can change the scenario. New like Unemployment Claims and PPI q/q.

Jun
26

USD/CAD D1 Technical June 26

Today USD/CAD has a strong support and resistance at 1.0240 and 1/0302.Technical indicators for USD/CAD remains on the upside for the moment, as noted before, correction from 1.0445 has already finished at 1.0159. Rebound from 1.0159 should extend to 1.0445. Break will resume rally from 0.9799 to 1.0522/1.0656 resistance zone. CB Consumer Confidence can affect the rate of pair.