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GBPUSD In Consolidation Range.

GBPUSD In Consolidation Range.

by | May 21, 2020 | Forex Trade Ideas, GBPUSD

GBPUSD was trading in downside parallel channel pattern, after forming the bottom, it has given a breakout from the channel pattern. We think that price may consolidate until it breaks the resistance line, as shown in the chart because it has immediately tested the...
EURJPY Breakout of Channel Pattern

EURJPY Breakout of Channel Pattern

by | May 21, 2020 | EURJPY, Forex Trade Ideas

EURJPY has given a breakout from channel pattern. if it move upward from current level we might see price move toward the resistance line. one can take long trade from current level by keeping stop loss just below resistance line of channel pattern. but if it failed...
NZDUSD At Reversal Point.

NZDUSD At Reversal Point.

by | May 21, 2020 | Forex Trade Ideas, NZDUSD

NZDUSD is trading in the rising Channel Pattern. It has also reversed from the resistance zone and now trading at the support of rising Channel pattern if it breaks the support level of Rising Channel pattern, we might see further downside in NZDUSD towards the...
AUDJPY Near Strong Resistance Level.

AUDJPY Near Strong Resistance Level.

by | May 20, 2020 | AUDJPY, Forex Trade Ideas

AUDJPY is trading in a Rising Wedge pattern. Considering this pattern it may continue the same for some more time, we may see a pullback in AUDJPY , as it is trading near the resistance line for the rising wedge . We may see price pullback towards support 1, as the...
USDCAD At Support level.

USDCAD At Support level.

by | May 20, 2020 | Forex Trade Ideas, USDCAD

USDCAD is trading in a descending triangle pattern. It is trading in the pattern for a long time, now it is trading at the support level of the descending triangle pattern. We may see upside or bounce back from the support level to the resistance line of...