Technical Analysis

USD/CAD Bullish Marubozu on Daily Timeframe


The USD/CAD has formed a bullish marubozu (strong momentum candle) on daily timeframe (see the mini daily chart) which marks an uptrend. Retracement towards POC might start at the break of trendline (red). If the price gets to POC (38.2, ATR low, D L4, EMA89) the POC zone should spike...


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​​GBP/USD Bullish Pennant Targeting Higher Levels


The GBP/USD spiked heavily after UK PM Theresa May called for snap UK elections on June 8. UK PM May stated that these elections might further instill the stability in UK and would provide stability for longer period. Traders favored UK PM's reasoning and the GBP flew off above weekly...


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​EUR/JPY Bearish Zig Zag Within Equidistant Channel


Bank holidays are usually days when low volatility is expected. Yen pairs tend to move with equities, especially Nikkei, so we have seen some volatility in the Yen during the Asia session. The POC for EUR/JPY comes within 115.75-95 (EQ channel top, ATR high, W H3, EMA89) and should reject...


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GBP/USD Resistance at 1.25, EUR/USD & USD/JPY Key Bounces



EUR/USD has approached a key bounce spot at a strong support confluence. GBP/USD has broken 1.25 resistance and could use it for a bounce and USD/JPY is in a bearish break, pullback and continuation mode.


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​USD/CAD ABCD Pattern Marks the Support


The rate cut wasn't on the table yesterday as economic data in Canada has improved. Slightly hawkish stance of BOC's chief Poloc reflected on the USD/CAD, sending the dollar down straight to W L5 support. At this point, we see an ABCD pattern at D L3 support, so the break...


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