FXOpini | Technical | Fundamental - page 5
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Oil prices rebound, Be-warn Correction
The movement of crude oil on the 4-hourly charts are in a bullish rebound conditions. If the oil price is still higher against the dollar and penetrate trend line as resistance for price movement which there is a chance the price will move up to the next resistance at 109.82.
Instead pay attention to the current price of oil is under the technical trend line and the RSI indicator is in bearish divergence condition, which there is a chance the price will move down towards the nearest support at around 107.18.
Bearish Divergent In AUD / JPY
The movement of the AUD / JPY at 4-hourly charts are in a bullish condition. If the Aussie still continue strengthening againts yen and penetrate resistance at 94.44 that there is opportunity the price will move up to the next resistance at around 96.61.
Instead beware because technically the RSI indicator is in bearish divergence condition in which there is a chance the price will move down. If prices break through support at 93.49 would open up the potential price moves down to perform phase correction towards 92.55 support until 91.39.
EUR / GBP Trying to Rebound
The movement of EUR / GBP on 4-hour chart's in a state of rebound and this time the price moves in patterns of channel bullish. If prices break through resistance at 0.8466 that there is opportunites price will move up to the next resistance at around 0.8501.
Conversely, be-alert if the euro weakened against sterling and penetrate the lower line of the channel pattern and support at 0.8422 that the price will be in a bearish pressures where there are potential next support in the range of 0.8387 - 0.8351 will be in touch by price.
AUD / JPY Stuck in Resistance Area
The movement AUD / JPY at 4-hourly chart looks bullish and are in a state of consolidation. Current price seen stuck in the resistance area where it is likely the price will move down to test support at 91.39. The outbreak of the area will unlock the potential price fall down more sharply where there is potential support at 90.44 would be in touch.
Instead beware because the technical indicators RSI is in bullish divergence condition. If the Aussie gained against the yen and penetrate resistance at 93.49 that there is opportunities the price will bullish movement towards the next resistance at around 94.44.
EUR / USD Bullish Sideways, Test Resistance at 1.3568
The movement of EUR / USD on the 4-hourly chart is in bullish mood and the current visible price moves up to test resistance at 1.3568. The outbreak area that enter opportunites prices will continue further bullish movement towards 1.3694 resistance.
Instead beware also because the current price is still sideways condition where the support at 1.3458 become trigger if the price is moving downward. The outbreak of support area that there is potential euro will weaken against the dollar and move down towards 1.3391 support.
Descending Triangle reversal In GBP / JPY
The movement of GBP / JPY at 4-hourly charts are in a bullish condition. If sterling strengthened against the yen and penetrate resistance at 158.84 that there is opportunites price will continue the bullish movement further towards 159.97 resistance.
Instead consider also because the price forming a descending triangle pattern reversal rates where there is a possibility the price will move down. The outbreak of the lower line of the price pattern will potentially bring down the movement correction 156.33 support which tends to be in touch by price.
USD / CAD on consolidates Bearish
In general, the movement of USD / CAD at 4-hourly chart is in bearish conditions and the current price is in a state of consolidation. If support at 1.0272 breached will open up the potential price moves down to continue the bearish movement towards support 1.0227 - 1.0181.
Conversely alert if the dollar strengthened against the loonie and penetrate resistance at 1.0328 that there is opportunites price will move up to the next phase of the rebound towards resistance at around 1.0374 - 1.0419.
EUR / JPY on Correction Condition
The movement of EUR / JPY at 4-hourly charts are in a state of correction phase and the current price looks stuck firmly below the upper line of Andrew Pitchfrok tools where there is a possibility the price will move down towards support at 132.11 .
Conversely, be- alert if we find that the euro also strengthened against the yen even with penetrate the upper line of tools Andrew Pitchfrok that thereis opportunites price will enter to rebound phase where there is a possibility of resistance 133.60 - 134.26 will be in touch by price.
Potential Bearish Symmetrical Triangle In AUD / JPY
The movement of AUD / JPY at 4-hourly charts are in a condition corrected downward and the current price of potentially forming a bearish symmetrical triangle price pattern where there is a possibility the price will move down. The outbreak of the lower line of the price pattern will bring prices move towards support 90.44 - 89.50.
Conversely, aware also if Aussie gained against the yen and penetrate the upper line of the price pattern that there is opportunites price will move up to conduct further rebound towards resistance at 92.55 and the patterns formed expected will fail.
EUR / CHF Slightly Rebounds, Test Resistance at 1.2290
The movement of the EUR / CHF at 4-hourly charts are in a bearish rebound condition and is currently testing the trend line which serves as resistance. The outbreak of the trend line and resistance at 1.2290 that there is opportunites price will move up to conduct further rebound towards resistance at 1.2313.
Otherwise be aware, too, if the euro weakened against the franc and the price stuck firmly below the trend line which serves as resistance that threre is potential opening price will move down to perform corrective phase towards support 1.2260 - 1.2237.