EURJPY is in downtrend and the pattern on the upside looks very clean. Aligning to it, fundamentally Risk ON market hasnt picked up yet. Hence it is highly likely to continue the downtrend. According to the following daily chart, EURJPY may try a dead bounce before continuing further on the decline.
ijayakumar's Blog
AUDCHF downtrend may extend further
Aussie had great bullish run over Canada for last 2 months till end of year 2015. But once 2016 started and Chinese Manufacturing PMI results released, the same old Chinese stock collapse started to shake the whole currency trading. Obviously it will resume the risk off aversion considering more weakness over commodity currency like Australia. In that aspect, please find the chart analysis of AUDCHF as follows,
Monthly chart:
- This pair is in such a steep downtrend and weakness arrives just wh…
Monthly chart:
- This pair is in such a steep downtrend and weakness arrives just wh…
USDCHF is struck in a range without trend or direction
Swiss franc has given up completely since a month and everyone was expecting that it would continue for long considering the decrease in Euro deposit rate. But to the surprise, it was welcomed by the investors and EURO and FRANC had great run for last 2 days. In line with that please find the technical analysis,
Monthly chart:
- This pair shows low weakness since 2011 mid and since then downward movement was less and occasionally it peeped out (Jan 2015) but formed as a doji which again shows t…
Monthly chart:
- This pair shows low weakness since 2011 mid and since then downward movement was less and occasionally it peeped out (Jan 2015) but formed as a doji which again shows t…
GBPAUD is expected to trend down further after a pullback
Great Britain is showing lot of weakness and on the other hand Aussie showing promising data points. In line with that when we analyze the GBPAUD weekly chart,
Since breaking the previous bull trend, it tries to form a double top but failed and then it's on a fierce bullish run. There is little support found around 2.0001 area. When this support is broken, then it is highly unlikely that it will travel all the way down to 1.9.
Since breaking the previous bull trend, it tries to form a double top but failed and then it's on a fierce bullish run. There is little support found around 2.0001 area. When this support is broken, then it is highly unlikely that it will travel all the way down to 1.9.
AUDCAD is unstoppable and no immediate resistance is present
Since the employment data release from Australia, it finds more good reason like Internal economy growth, Chinese data revival and many more to take a ferocious bullish run. In line with that, please find the technical analysis of AUDCAD in higher timeframe chart,
Monthly chart:
- This pair has found the support on previous price action support with lot more doji's showing strength in growing up
- Engulfing candle has formed and 2 candles almost closed 7-8 previous candles which shows the colle…
Monthly chart:
- This pair has found the support on previous price action support with lot more doji's showing strength in growing up
- Engulfing candle has formed and 2 candles almost closed 7-8 previous candles which shows the colle…
USDZAR forming a doji at double top
USDZAR has a long bull run last week which beats the previous high and formed a double top. But, as FED's optimism over December lift posing lot of questions, USD might start finding sellers. Please find the daily chart analysis of USDZAR,
As shown in the chart, this pair is forming a doji just at the formation of double bottom which poses lot of questions over increasing sellers. If the price fall below the price range of doji, there is a high possibility that this pair may travel down faster!
As shown in the chart, this pair is forming a doji just at the formation of double bottom which poses lot of questions over increasing sellers. If the price fall below the price range of doji, there is a high possibility that this pair may travel down faster!
CADJPY may drive along with Commodity data
Canadian dollar was having poor start of the week, but today's increasing commodity price has helped it to gain some momentum. With respect to the Thanks giving week, the commodity data may still drive few more days to take CAD to LONG position. Please find the CADJPY 4HR chart analysis,
As the chart shows, the bullish reaction started with an engulfing green candle. Also this price range applicable to previous price action bottom also. Hence it highly likely to continue the bullish run and hit…
As the chart shows, the bullish reaction started with an engulfing green candle. Also this price range applicable to previous price action bottom also. Hence it highly likely to continue the bullish run and hit…
AUDCHF on rampage and it may continue for longer time
I have luckily set long on this pair which helped me to recover from my big losses. When I tried to analyze this pair on longer timeframe which is Monthly chart, it seems more bullish run is yet to come. Please find below the chart,
Current price just falling under the same previous bottom in 2009 and 2001. This year it went even lower but double side doji suggests the change in direction and then the bullish channel. As the price action just touched the previous price action, I expect this pai…
Current price just falling under the same previous bottom in 2009 and 2001. This year it went even lower but double side doji suggests the change in direction and then the bullish channel. As the price action just touched the previous price action, I expect this pai…
EURUSD may make a bull run from now
In Yesterday and day before yesterday blog, I have mentioned about the short term possibility of EURO bullish run. But when we consider about today's statistics that EURO shares was flying high, USD started weaking, I believe EURO is ready for next bull run to 1.1 and even more. Please find my analysis on daily chart,
The chart shows that the current red candle crossing the previous bearish trend line within a day from bottom shows that this bull run may persists for more time. If the price cro…
The chart shows that the current red candle crossing the previous bearish trend line within a day from bottom shows that this bull run may persists for more time. If the price cro…
EURCHF may gain some momentum for short time
Euro's prolonged weakness has created more bearish approach against all of it's pair. Yet it was trading in a range against Swiss for last 10 days and it may break upside for a short profit. Please find the analysis on 4 HR chart,
The upper trendline has been attempted to breakout many times but this pair failed to do so. But today's CPI data may give a new life for EURO which may help to bring in some buyers soon. If the breakout happens, it is better to close the profit at 1.086, as keeping lo…
The upper trendline has been attempted to breakout many times but this pair failed to do so. But today's CPI data may give a new life for EURO which may help to bring in some buyers soon. If the breakout happens, it is better to close the profit at 1.086, as keeping lo…