Thursday, May 1, 2014

GBPJPY TRADES WITHIN AN ASCENDING TRIANGLE


GBPJPY currently trades within an ascending triangle after a hidden bullish divergence was noticed on the charts (shown above). The bias therefore remains bullish and price is expected to breakout north out of this containment.



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EURUSD BREAKS OUT OF DESCENDING TRENDLINE



EURUSD has broken out from its upper trendline which had been containing the pair and preventing it from moving further long, however, this was expected since price had given off a bullish hidden divergence on its wake. The way now seems clear for price to retest previous highs and possibly setting new ones. The trade room had gone long based on the cup and handle trade setup that was discussed April 24th.



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Tuesday, April 29, 2014

EURCHF in-line for a bearish drive


EURCHF looks set to continue bearish after a third bounce on its bearish trendline. The trade room is taking a short trade on this via a sell stop target at its recent lows. Tthis setup will be invalidated if price manages to break and close above this trendline.



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Gold hits resistance


Gold has hit resistance and has been slightly rejected at that zone. This rejection is very significant since it is at the third time of asking. Sellers are exoected to sell off the metal.


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Sunday, April 27, 2014

GBPUSD EXPECTED TO RALLY INTO SUPPORT


GBPUSD which has been on an extended bullish run looks set to let off some steam as it trades at extreme points as shown in its chart above.


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Saturday, April 26, 2014

EURJPY MAKING ITS WAY TO THE RESISTANCE AT THE DESCENDING TRENDLINE


EURJPY could go short if it manages to reach the descending trendline.


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USDCHF CONTAINED WITHIN A TRIANGLE

USDCHF as seen above broke out of its long standing bearish trendline and has consolidated within a triangle in recent times. Bullish trade signals would be sort as price hits the support of the ascending triangle within the week.


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