October 25, 2016 13:00


Ever since the EURUSD dipped below 1.1125-20 horizontal-support, the pair's downtrend can be aptly portrayed by short-term descending trend-channel, signaling its additional weakness to 1.0850 before testing the channel support and March month lows, around 1.0825-20. However, oversold RSI might trigger its bounce then, failing to which can quickly...

Chart Of The Day: Ascending Trend-Channel Favors AUDJPY Upside

October 25, 2016 08:00

Even though a month-old ascending trend-channel's resistance-line has been providing short-term pullbacks to the AUDJPY, formation support kept acting as a strong floor for the pair, which in-turn indicates its further north-run towards 80.20 immediate resistance, comprising 200-day SMA. However, pair's additional advances beyond 80.20 might have little space till...

Chart Of The Day: USDCHF Confronts Another Important Resistance To Justify Strength

October 24, 2016 07:50

USDCHF's break of eleven-month old descending trend-line on Friday escalated the pair's up-move to another important resistance-zone, the 0.9950-60 horizontal-line, which becomes crucial for the Bulls to conquer in order to aim for 1.0040 north-side mark. Given the pair manage to sustain its advances beyond 1.0040, the 1.0090 and the...

Technical Outlook: USDCAD, EURCAD And CADJPY

October 21, 2016 12:45


Although 1.3000 – 1.3005 horizontal support triggered USDCAD bounce during Wednesday, the pair presently finds it difficult to surpass short-term downward slanting trend-line resistance of 1.3260 ahead of the Canadian Inflation and Retail Sales figures. Given these headline figures match upbeat forecasts, the pair can quickly break above 1.3260 a...

Chart Of The Day: EURUSD Struggles Around Horizontal Support After ECB

October 21, 2016 07:30

Thursday proved to be another disappointing-day for the EUR traders as ECB President, Mario Draghi, couldn't provide any hints of the QE tapering, which he signaled previously, and said policymakers didn't discuss any such things during yesterday's monetary policy meeting. The EUR declined again majority of its counterparts after receiving...