GBP/NZD is bouncing from the 1.9100 levels, which isn’t surprising since it’s right above the ascending channel support AND the 100 SMA retest. A long trade at current levels would give you a good reward-to-risk ratio especially if you aim for the previous highs just below 1.9500.

EUR-GBP nearly bringing it to the Fibonacci retracement area of the swing move from 0.8860 to .8620. Stochastics is already signaling potentially short-term overbought conditions, so watch out for reversal patterns between 0.8700 – 0.8770 to potentially return the market into the downtrend.

Check out this head and shoulders pattern on the one hour chart in GBP/AUD. The market is currently stalling at the neckline, and if it breaks, then additional sellers could pile in this potentially overbought market.

USD/JPY retested near the 109.52-50 region, below which the pair is likely to slide further below the 109.00 handles towards testing its next support near the 108.75-70 region. On the flip side, the 109.60 horizontal level now seems to act as an immediate resistance, which if cleared might assist the…

What is going on now with GBP/JPY? GBP/JPY: The British Pound failed at its 500 EMA at 145.850 in yesterdays trades and fell to 145.350 support. The pair continued its down run in the 60 minutes price chart during the overnight session and managed to find support at 144.475. Our…

What is going on with XAU/USD? XAU/USD: Gold prices bounced in yesterdays session at 1211.00 support in the 60 minutes price chart. The pair pierced through it 500 EMA at 1218.95 and reached 1226.00 before pulling back to its 500 EMA. Gold prices extended its run to the upside during…

What is going on now with GBP/CHF? GBP/CHF: The British Pound held on above 1.27255 as indicated in yesterdays update and took out 1.27800 price target; however the Pound failed to continue to 1.28210 and fell to 1.26980 support during the overnight session. The pair managed to bounce at 1.26980…