We see a nice set up today for GBPJPY as it reversed nicely off its channel resistance where it could potentially drop to its support. Stochastic has also reversed nicely off its resistance. Another nice set up today would be the CADCHF that is being held by its descending resistance line where we see it […]
USDCHF held down by descending channel!
USDCHF is being held in a descending channel where if it breaks its 1st support at 0.9831 (horizontal swing low, it could potentially fall to its next support at 0.9724 (38.2% Fibonacci retracement). RSI (89) is in the same descending channel and Ichimoku cloud is also showing signs of bearish pressure which contributes to our […]
BCOUSD made a bullish exit from its descending line!
BCOUSD has made a bullish exit from its descending resistance turned support line where it could potentially rise to its major resistance at 76.44 (50% Fibonacci retracement, horizontal overlap resistance) after bouncing off its support at 75.20 (horizontal overlap support). RSI (89) has made a bullish exit from its descending channel and the ichimoku cloud […]
CADCHF reversed nicely from resistance, potential drop!
CADCHF reversed off its resistance at 0.7613(61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap resistance) where it could potentially fall to its support at 0.7569 (horizontal swing low support). RSI (89) is held down by a descending resistance line and the ichimoku cloud shows signs of downward pressure which contributes to our bearish bias. Trading […]
GBPJPY testing its resistance, potential reversal!
GBPJPY is testing its resistance at 147.32 (61.8% & 38.2% Fibonacci retracement, horizontal overlap resistance) where a potential reversal might occur, causing price to fall to its support at 145.31 (38.2% Fibonacci retracement, horizontal overlap support). Stochastic (55, 5, 3) is testing resistance at 95% where a corresponding reaction could occur. Trading CFDs on margin […]
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