Resistance Turned Support on GBP/JPY January 24, 2014
GBP/JPY has made a stellar rally in the past few trading days, thanks to improved fundamentals in the UK.
GBP/JPY has made a stellar rally in the past few trading days, thanks to improved fundamentals in the UK.
EUR/USD’s recent selloff might soon be over, as the pair formed a double bottom on its 1-hour time frame.
NZD/USD is forming a rising channel on its 1-hour time frame, after having bounced off the bottom near the .8200 major psychological support.
The USDJPY pair rose during the session on Tuesday, breaking above the highs from the Monday session as well.
USDCAD remains in uptrend from 1.0588, the fall from 1.0945 could be treated as consolidation of the uptrend.
GBP/USD is still on an uptrend, despite the sharp selloff that occurred recently.
If equity bears are having a tough time at present, euro bears have had a torrid time over the last few years, with each move lower acclaimed as the end of the single currency, which then promptly rises and continues to survive.
The room’s getting crowded, the party’s been going on a while but more people could arrive. Just beware fair weather friends and a sign it could be time to think about leaving…
AUD/USD is testing a major support level, as seen on its daily time frame.
The downtrend on USD/CHF may soon be over as the pair already closed above the falling trend line on its daily time frame.