Browsing all articles tagged with Trend line
May
9

USD/CAD D1 Technical May 09

USD/CAD is in oversold zone, pair can get a rebounce from this zone. D1 and H4 chart are showing group of buyers in 1.000-50 level and a trend line is also held. So price action on 1.0000 level is important to watch.

If USD/CAD hold this level and give a day closure above 1.000 then pair will start moving upward. On the other hand, If pair break its support level and D1 closure below 1.0000 level then it will open gates towards south.

High impact News can affect the move of USD/CAD. News like Unemployment Claims.

May
1

USD/CAD D1 Technical May 01

USD/CAD didn’t manage to hold its support 1.0100 level and dropped around 50 pips. The pair is under pressure. It is continuously falling from 1.0275 level. USD/CAD is expected to target 1.0000 level. A trend line is held just above 1.0000 level . If pair manage to reached this level and H4 closure above trend line then it will be a good opportunity to buy USD/CAD with SL at 0.9950 level.

High impact News  of USD can affect the pair.   News like ISM Manufacturing PMI, ADP Non-Farm Employment Change, FOMC Statement.

 

Apr
25

GBP/USD D1 Technical April 25

GBP/USD got bullish in Asian session and target 1.5330. At this level a trend line is held which resist the pair and now cable is floating under the trend line. Break through this trend line and H4 closure above 1.5360 will provide more bullish strength to GBP/USD and pair will then target 1.5400-30-60 level respectively.

The scenario will be vanished, If GBP/USD didn’t manage to break this trend line, then cable will rapidly start falling towards south.

High impact News can affect the move of GBP/USD. News like Unemployment Claims, Prelim GDP q/q.

Feb
22

Weekly Outlook of AUD/USD February 22

 

AUD/USD is trading in a small range of 1.0340-1.0290 level. Bollinger bands are showing buy signals for the pair but as long pair hold resistance 1.0340 level, there will remain bearish pressure on Aussies. If pair manage to close above 1.0340 level, then it will further target north. On the contrary, closing of  H4 candle below resistance will indicate bearish strength and pair will start to move towards south.

Yesterday pair got a strong support from 1.0220 level and target +120 pips. Now pair is testing resistance at 1.0340 level and trendline is also held there. So price action on 1.0340 level is important to watch. Daily closure below the resistance will again provide AUD bearish potential and pair will dropped towards southward.

On the weekly chart resistance is at 1.0375 level and support is around 1.0112 level. This week pair try to overcome 1.0375 level but didn’t manage to close above it and get a pull back. Now 1.0375 is a strong level of resistance. Breakthrough 1.0375 level is needed for pair to continue its bullish trend. On the other hand. Weekly closure below this level will open gate for AUD/USD and pair will again move towards south and target its support 1.0212 level.

Nov
29

GBP/USD D1 Technical November 29

Yesterday in New York session Cable manages to break its support level of 1.5970 but didn’t go further down because  New Home Sales News came negative. Outlook for the GBP/USD is bullish for today. If pair manages to holds its trend line, uppish trend will remain intact.

Later on high impact News can change the scenario. News like BOE Gov King Speaks, Prelim GDP q/q, Unemployment Claims and Pending Home Sales m/m.

Nov
12

USD/CHF D1 Technical November 12

USDCHF stays above the upward trend line on 4-hour chart, and remains in uptrend from 0.9276. As long as the trend line support holds, the uptrend could be expected to continue, and next target would be at 0.9550 area, only a clear break below the trend line could indicate that a double top is being formed, then pullback to 0.9350 area could be seen.

Nov
12

EUR/USD D1 Technical November 12

EURUSD remains in downtrend from 1.3020. Another fall could be expected after a minor consolidation, and next target would be at 1.2600 area. Resistance is located at the downward trend line on 4-hour chart, only a clear break above the trend line could indicate that a cycle bottom is being formed, and consolidation of the downtrend from 1.3138 is underway, then further rally to 1.2850 area could be seen.

Nov
8

EUR/USD H4 Technical November 8

After a minor consolidation, EUR/USD continues its downward movement from 1.3138, and the fall extends to as low as 1.2736. Further decline would likely be seen, and next target would be at 1.2650 area. Resistance is now at 1.2875, followed by the downward trend line on 4-hour chart, only a clear break above the trend line could signal completion of the downtrend. Europe Minimum Bid Rate, ECB Press Conference and U.S Trade balance and Unemployment claims can seriously affect the rate of pair.

Sep
25

AUD/USD D1 Technical September 25

The pair AUD/USD shows some mixed trend. The pair faced strong resistance from the medium term falling trend line resisted to widen recent rally. On the other side, the AUD/USD was supported by expansive  weakness in dollar and there was no sustained selling. By analyzing the pair we recommend to stay neutral. Upside break of 1.0624 will confirm rally for 1.0852 key resistance and would have some larger bullish implication. On the other side break of 1.0165 will bring another downtrend but strong support should be seen well above 0.9588 key level.

Lately the data of CB Consumer Confidence report will have its impact over the pair,

Sep
18

AUD/USD D1 Technical September 18

AUD/USD drops sharply after touching the trend line and this steep selling shows that the uptrend from 1.0167 has been ended at 1.0626 and the cable has started the downtrend which is expected to continue till 1.0167 and 0.9780,so we recommend sell deals targeting the 1.0167 and 0.9780,to minimize the risk we recommend a sto loss above 1.0626. TIC Long-Term Purchases, Current Account can affect the rate of pair.