GBPJPY D1- Ascending Triangle Chart Pattern

Spotted on the daily chart of the pound yen (GBPJPY) is an ascending triangle chart pattern which is interpreted as a bullish continuation pattern by technical analyst. At the current price level we can expect either a breakout or a bearish retracement to the lower trendline. My analysis on the pound however favours a bearish…

EURNZD- TECHNICAL ANALYSIS

EURNZD WEEKLY ANALYSIS Price is seen retesting resistance turn support line since August 2013, this level is deemed a very strong support level. Using Murray Math Line, price currently sits at the Monthly -1/8 line, which is an overshoot level (very strong support and reversal zone), weekly 2/8 level (pivot reversal zone) and Daily 0/8…

Trade for the day- EURNZD

Looking for a currency pair to place a short order? The EURNZD is our currency pair of interest. We see price consolidating around the July trendline (support turn resistance) with observable Higher highs and Lower lows forming an upward channel. With Current price touching the upward channel which is also 127.2 Fibonacci extension level of the…

USDCAD TRADE SETUP

Technically, below are my trade insights for the Loonie. Daily Chart: Price approaching the 200 period SMA (resistance zone) Perfect Gartley pattern formed with current price retesting the 127.2 Fibonacci extension level of the BC trend. Hanging man (bearish candlestick reversal pattern) formed. Double Top chart pattern spotted (July resistance) 4hr Chart: ABCD pattern formed…