The EURGBP pair takes a breakout from the falling channel pattern that was forming since nearly past one month. The price hit the lower trend line of the pattern thrice while the upper trend line was tested multiple times. Recently, the bulls intensified and breached the upper trend line, thus indicating for a strong bullish move. The tradrs can set the first...
The USDCAD pair is most likely to go down as recently it reversed off the ascending trend line to move towards the major support area of 1.3235 that was earlier tested in the previous session. The bulls tried to come back in the game but the resistance trend line failed to happen that for longer duration. Therefore, the recent pull back highlights the bearish move...
The currency pair is trading below the three week old resistance trend line on hourly chart. We can see, during this period, every time the pair hit the resistance trend line, it pulled back to test the weekly or a monthly low. Recently, CADJPY reversed off its resistance at 80.60 and is likely to hit the area around 79.42, considering a major support.
TP-...
Grab the buy opportunity in NZDJPY as soon as possible. There is a positive divergence in the currency pair as the price chart forms the lower lows in contrast to which the RSI indicators makes higher lows. The traders are suggested to go long with the first target of 72.044 and the next target is at 73.016.
SL- 70.072
Tata Motors DVR has formed a head and shoulder pattern on daily basis. Recently it breached below the neckline, giving confirmation for a bearish move. The share price is expected to reach the target of 71.50 which is equals to the height of its shoulder.
Most likely the pair will go down as it has been trading in a falling channel pattern on intra-day chart since past one week and recently the pair pulled back from the upper trend line of the channel and is currently moving towards the lower trend line. The expected target is around 80.499.
SL- 81.174.
Sell opportunity in GBPNZD pair considering negative divergence in RSI on intra-day chart. The traders are suggested to go short as the price chart makes higher highs in correspondence to which the RSI forms lower highs. Grab the opportunity asap because the divergence has already started exhibiting its results.
