Technical Analysis

GBP/USD rejecting from the top of the right shoulder



Bad Services PMI data for GBP/USD today rejected the price from the top of the right shoulder that is clearly visible on H4 chart. Services PMI is likely to be down, because its mainly the finance sector that may leave the UK if they are no longer in EU. Some...


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EUR/USD Bearish below 1.1000


This week's focus is on ECB rate decision and conference tomorrow. I don't expect any changes in rate decision and ECB should come with a more accommodative stance. ECB should be focused on Italian banks as some of the banks have a bad loans ratio of nearly 40 % on...


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AUD/NZD stepping up the trend line


AUD/NZD is in uptrend and traders are looking for new long opportunities on a pullback. New Zealand CPI is below expectations, there is also a possibility of a rate cut. Generally speaking New Zealand is a smaller economy, it might eventually lose to trade agreements and currently Australia has more...


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Weekly Forex Overview: Break and bounce levels



Analysis of the Forex market: the EUR/USD remains in a massive consolidation zone and Chris explains which levels are key to his trading plan. The GBP/USD retracement to 1.35 was very strong, is this a bullish reversal or a mere pullback for more downside? The AUD/USD is showing indecision but...


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USD/JPY posssible fade around 105.90


The USD/JPY is progressing towards POC zone (88.6, historical sellers) 105.85-106.00 where it might reject towards 105.00 and 104.25. If we see a further drop below 104.25 then the door towards 113.40 will be open. Pay close attention to the zone as POC might be the last line of defense...


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