technical analysis

The current USDCHF structure suggests that a bullish zigzag is forming. The primary degree pattern consists of waves Ⓐ-Ⓑ-Ⓒ. Wave Ⓐ completed in a 5-wave impulse, and wave Ⓑ in a simple zigzag (A)-(B)-(C). Similar to wave Ⓐ, wave Ⓒ is… Read More

GBPAUD downside distribution emerged in weighty steps. Prices fell from a top of 2.0855 down to a recent low of 1.7860. The deep, however, is poised to end. This can take shape near the lower support of the regression channel starting in… Read More

The precious metal is recovering following last week's decline from a fresh nine-year high. Price action is trading around the 1783 level with the 4-hour chart signaling a Doji candlestick pattern. This could potentially either signal… Read More

Oil prices are somewhat bullish on Monday. Price action is modestly trading above the 40.00 handle. But crude oil is not out of the woods yet. A clean breakout above 40.00 is required to confirm the upside bias. For the moment, prices… Read More

The pound sterling is seen holding its ground against the US dollar. Prices are up a modest 0.14% as the cable attempts to test the 1.2516 resistance level. The cable initially pulled back after testing this level just last week. A… Read More

The euro currency made some gains on Monday as price action tried to break out from the triangle pattern. Prices briefly tested highs near 1.1347 before pulling back toward the close of the European session. The overall trend in… Read More

The current USDJPY structure suggests that we are near the end of the double zigzag. The intervening wave Ⓧ consists of intermediate sub-waves (W)-(X)-(Y). Waves (W) and (Y) are complete, whereas wave (Y) is forming at the time of… Read More

The S&P500 index made some major gains last week. But prices stalled near the previous highs at 3160, marking a resistance level as a result. Friday’s price action closed into an inside bar indicating a near term breakout. The bias… Read More

EURGBP Rallies on Uncertain Brexit Prospect The pound sterling’s latest rebound could be short-lived for the lack of new development on the Brexit front. Unexpected cancellation of last Friday’s talks could only put fresh strain on… Read More

The precious metal closed last week on a flat note near 1774.66. The appearance of the Doji pattern near the nine-year highs suggests a possible pullback. However, there is scope for price action to continue to churn higher. The 1800… Read More