02.07.2012 / 17:12
The EUR/USD currency pair continues moving inside the descending channel, the target of the fall is the area of 1.2090. At the moment at the daily chart the price is forming “head & shoulders” pattern, which, in this case, is a continuation pattern. One can consider selling the pair after the price breaks the level of 1.24, however, aggressive traders can try to sell Euro from the current levels. If the price grows up higher than 1.2750, this scenario will be cancelled. We recommend to increase the amount of short positions only after the price breaks the level of 1.25. The test of the resistance level at the RSI is an additional signal to sell Euro.
02.07.2012 / 12:05
It looks like the pair may continue moving downward and wave (C) may take the form of diagonal triangle pattern. On the minor wave level the price is forming the second wave very fast. During the week we can expect the pair to make a reverse and start falling down in wave 3 of (C).
02.07.2012 / 12:26
The GBP/JPY currency pair has made a strong ascending movement and broken the H4 Super Trend’s line backwards. At the moment the bulls are trying to break the 4/8 level. There is a possibility that the price may continue growing up and reach, at least, the 5/8 level. Expecting this to happen, I’ve opened a short term buy order.
02.07.2012 / 11:44
GBPUSD, Time Frame H4 – Tenkan-Sen and Kijun-Sen intersected below Kumo Cloud forming “Golden Cross” (1), Tenkan-Sen is directed upwards, and Kijun-Sen is horizontal. Kumo Cloud is very narrow and going down (2), Senkou Span A turned upwards, and Senkou Span B is also horizontal. Chinkou Lagging Span is above the chart, the price is above the indicator’s lines. In the near term, we can expect resistance of Senkou Span A and the price to continue moving upwards.
02.07.2012 / 11:23
The H4 chart of the EUR/USD currency pair shows an ascending tendency on the sideways trend. Window, which is the closest to the price, is a resistance level. Tweezers pattern and Heiken Ashi candlesticks indicate a bearish pullback, Three Line Break chart confirms an ascending movement.