Long-term and Short-term Setups

[TriciaWilson]

NZD/USD Technical Analysis

~~ As suggested earlier, the counter found support at the supportive trendline and bounced off.
~~ Now, it has broken the resistive trendline as well and consolidating just above it.
~~ We expect the pair resume to bull trend and head to the immediate resistance marked in the chart.
~~ The support zone marked in the chart can cap the declines.

 

[TriciaWilson]

EUR/CHF Technical Analysis

~~ The strength of Swiss Franc bewilders us as it was able to contain the hottest currency like Euro.
~~ Despite EUR/USD & EUR/JPY moving to great heights, it is still in bearish territory and the counter has absorbed intense buying pressure.
~~ Technically, the formation resembles a round top and so a sell-off is on the cards when the Euro corrects against erstwhile currencies.

 

[TriciaWilson]

GBP/CHF Technical Analysis

• The counter is currently in a 3-wave bear cycle.
• Further, it is currently forming wave B in the form of a bearish flag pattern and is close to the resistance zone.
• Hence, we expect the pair to find resistance around this area and commence its wave C.
  
  
  

 

[TriciaWilson]

EUR/GBP Technical Analysis

~~ The counter is now on the verge of completing a 3-wave bear cycle.
~~ It is now approaching a strong demand zone which also coincides with the 61.8% retracement of the entire rally.
~~ We expect the pair to kickstart a fresh bull cycle from here.

 

[TriciaWilson]

USD/CHF Technical Analysis

~~ The counter has broken off from a falling wedge pattern.
~~ It is now hovering around the broken trendline.
~~ We expect the support zone to arrest any pullback and catapult the prices higher.

 

[TriciaWilson]

AUD/USD Technical Analysis

~~ The counter has been in the declining mode for the last 2 days.
~~ It made an inverse head and shoulder and has broken the neckline.
~~ Further, it has broken the immediate trendline as well.
~~ Hence, we expect the pair to be bullish in the near-term.

 

[TriciaWilson]

EUR/USD Technical Analysis

~~ The counter is maintaining its positive bias by holding the support of the ascending channel.
~~ As the preceding move also steep, the price needs a bullish correction at the least.
~~ Hence, we expect the pair to be bullish for the next few sessions.

 

[TriciaWilson]

AUD/JPY Technical Analysis

~~ AUD/JPY has bounced off from a supportive trendline.
~~ However, the recent fall has depleted the bullish momentum in the counter its now in a rising wedge formation.
~~ We expect the pair to move to trade with bullish bias.

 

[TriciaWilson]

GBP/USD Technical Analysis

~~ The counter's dynamics have changed drastically this week.
~~ It turned bearish abruptly due to the risk of no-deal Brexit.
~~ And there has been a significant amount of longs trapped.
~~ It broke the support of 1.30100 which is now capping the rally.
~~ We expect the pair to move down significantly as long as the pair stays below this level.

 

[TriciaWilson]

NZD/JPY Technical Analysis

~~ The zone of 71.100-200 proves to be a tough nut for the pair.
~~ Despite multiple attempts, the price is unable to break above it.
~~ Further, the price action has formed an evening action star pattern at the resistance zone.
~~ Hence, we expect the pair to be bearish in the near-term.