First retest to the broken support area (shaded) was rejected. The price continues to hold below the falling trend line and the 200-days simple moving average. While we may see further sideways action, the upside should be limited to areas near the 200-days simple moving below 1.2500. To the downside, 1.2250 is the next potential target.
AUDUSD daily chart AUDUSD reversed from the key juncture and confluence of multiple technical levels I empathized in my prior chart analysis. The 200...
USDCAD daily chart The technical bias has turned bullish as the price failed to hold below 1.2500 resistance area around the 200-days simple moving...
GBPUSD daily chart The overall structure of lower highs starting from point B remains intact. That keeps the bearish trend started from point A in...
EURUSD daily chart The EURUSD maintained the bearish trend, extending the downside below the targets mentioned in the prior analysis post. The pair...