gbp/nzd pair has broken out of a nice flag pattern and a small pullback is underway . the flag pattern after a swift fall in the pair indicates further downside and traders could look to sell the pair with a profit target of about 1.9050 .
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EUR/USD accumulation
After a severe sell of in eur/usd pair over the past few weeks , we might be looking at some accumulation in the pair . On the 4 hour chart there is a bullish head and shoulders pattern as shown in the chart . A break of the neckline at 1.1700 level could lead to a sharp rally upto 1.18000 levels . Traders should watch for a break on the upside through the neckline to go long on the pair.
EUR/GBP triangle
Eur/gbp pair has formed a triangle pattern on the daily charts . A sharp sell off today in the pair suggests that the triangle might break down on the lower side . Traders should watch for a breakdown from the triangle which could lead to the pair falling up-to 0.8610 level.
EUR/GBP technical formation
eur/gbp pair has broken out of a beautiful head and shoulder bullish formation . Going ahead the Eur should outperform Gbp and eur/gbp could reach the target of 0.8950 level
EUR/USD liftoff from oversold condition
5 day RSI has moved below 10 and is extremely oversold . As can be seen this kind of oversold condition on daily chart has not occurred in eur/usd for more than one year. Further eur/usd is in an uptrend on the weekly charts. This extreme oversold condition is usually followed by a sharp bounce back . Traders can look for a 150 to 200 pip bounce in eur/usd from this level.
EUR/AUD triangle
Eur/ aud pair has formed a triangle on the 4hour chart . traders should watch for a breakout from the triangle to take positions . The triangle looks like a bullish formation but needs to be watched closely as a downside break is also possible.
USD/NOK consolidation breakout
Usd/nok has broken out of a two weeks consolidation , the breakout target could be the previous resistance area of 1.8370 or
higher target of 7.9000 . traders could look for opportunities on pull back.
higher target of 7.9000 . traders could look for opportunities on pull back.
Bullish trendline break on try/JPY
the chart shows a nice trend-line break indicating a bullish setup for try/jpy .there could be a small pullback but the pair could move swiftly upto the 30.00 level . traders should consider buying on every pullback .
GBP/NZD overbought condition
Gbp/nzd pair has entered into a rectangular consolidation after a strong rally . A breakout to the downside from this pattern could lead to a swift profit taking sell off of around 100 pips . Traders should closely watch for a breakout for some quick profits. With stop loss at the highs of around 50 pips traders could look for a good risk reward trade.
EUR/USD consolidation
Eur/usd pair is trading into a tight rectangular consolidation on the hourly chart .The implication of such a tight consolidation is a breakout either on the up or on the down side . Since eur/usd is in a downtrend the more likely scenario is for the consolidation to break on the downside with a possible target of 1.5500 . A break on the upside could give us a target of 1.1750.