Browsing all articles tagged with resistacne
Jun
24

USD/CAD D1 Technical June 24

USD/CAD is in bullish mood. Pair manage to overcome its resistance at 1.0445 and now USD/CAD is expected to face its next weekly resistance around 1.0520 level. Price action on this level should be watch carefully. Pair can get a strong pull back from this resistance zone. If pair fails to break this level and H4 candle closure below 1.0520 level then it will indicate lack of bullish strength and pair will then start moving towards southward and target 1.0445-400 level respectively.

Jun
24

AUD/USD D1 Technical June 24

Bollinger bands are not providing clear signal because of oversold. Now the support is at 0.9160 level and resistance is around 0.9318 level. Pair  is expected to move down and test its support first.

Price action on this level should be carefully watch. If Aussies manage to break through its support level and H4 candle closure below 0.9160 level then it will indicate more bearish potential and AUD/USD will then continue its bearish trend and target 0.9100 level.

On the contrary, If pair manage to hold its support level and get bounce then pair will start to move towards northward and target 0.9318 level.

Jun
12

USD/CAD D1 Technical June 12

USD/CAD is showing a mix trend. Pair is trading in a range to 1.0160-1.0290 level. Break of any level will clear the trend.

According to previous event, resistance is at 1.0250 level. If USD/CAD manage to break its resistance then pair will target 1.0290 level. Price action on 1.0290 level should be carefully watch. D1 and H4 candle chart are showing group of sellers in this zone. So, if pair get a pull back and H4 candle closure below 1.0290 level then it will provide a valid sell entry targeting 1.0200 level.

On the contrary, Break of 1.0290 level will provide more strength to USD/CAD and pair will then continue to move towards northward.

May
24

GBP/USD D1 Technical May 24

GBP/USD is expected to continue its uppish trend. As long pair hold 1.5080 level pair will make bullish moves. Cable is expected to go northward and face its next resistance at 1.5213 level.

If GBP/USD manage to break this level and H4 candle close above this level then pair will continue its movement and target 1.5260-80 level.

On the contrary, If pair fails to hold 1.5080 level and H4 candle closure below this level then pair will rapidly fall towards 1.5028.

High impact News can affect the move of GBP/USD. News like Core Durable Goods Orders m/m.

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.

May
2

EUR/USD D1 Technical May 02

EUR/USD remain bullish above 1.3135 level. Yesterday pair break its resistance 1.3200 but didn’t manage to closure above this level.  So, pair is likely to face its support level today.

If EUR/USD manage to hold its support level 1.3135 and H4 closure above this level then pair will continue its bullish trend and target 1.3240 level.

On the other hand. Break through support level will allow EUR/USD to fall rapidly towards south and target  1.3070-50 level respectively.

High impact News  can affect the movement of EUR/USD. News like Minimum Bid Rate, ECB Press Conference, Trade Balance, Unemployment Claims.

 

Apr
30

AUD/USD D1 Technical April 30

AUD/USD is trading in a range of 1.0290-1.0390 level. Bollinger bands are providing sell signals for the pair. Pair is expected to test its support at 1.0290 level. Price action on this level should be carefully watch.

If Aussies manage to break through 1.0390 level and H4 closure above 1.0390 then pair will got bullish strength and start moving towards north. On the other hand, If AUD/USD fails to hold its support level 1.0290 and H4 candle close below support then pair will start falling towards south and target will be 1.0260-0224.

High impact News can affect the movement of AUD/USD. News like CB Consumer Confidence.

Apr
22

GBP/USD D1 Technical April 22

The Cable is expected to test its support 1.5190 level today. Bollinger bands are also showing sell signals for GBP/USD. Price action on 1.5190 level should be handle carefully. If GBP/USD break its support and H4 candle close below 1.5190 level then it will open gate towards south and cable will then target 1.5135-100 level respectively.

On the other hand, Break of resistance 1.5260 level will provide bullish strength to GBP/USD and pair will move up and target north.

High impact News can affect the Trend of EUR/USD. News like Existing Home Sales.

Apr
9

AUD/USD D1 Technical April 09

The outlook for the Aussies is bullish. Pair is currently testing its resistance at 1.0493 level. Bollinger bands are showing buy signals for AUD/USD. Price action on this level should be carefully watch. If pair manage to break 1.0493 level then it will indicate strong bullish strength which will allow AUD to further move towards north. The scenario will be vanished, If AUD/USD didn’t manage to break its resistance level and H4 candle close below 1.0493 level.

 

Apr
5

EUR/USD D1 Technical April 05

EUR/USD is currently testing its resistance at 1.3070 level. Pair can get a pull back from this level, if H4 candle close below 1.3070 level. Bollinger bands are showing buy signals for the pair. But as long pair hold its resistance there can be a pull back.

So, Price action on 1.3070 level should be watch carefully. If pair manage to break this level and H4 candle close above 1.3070 then EUR/USD will further move towards 1.3140-70 respectively.