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Showing posts with the label technical analysis trendline

Euro consolidating the rally

EUR/USD is currently between resistance at 1.2510$ and support at 1.2485$ . A break below 1.2485$ will open the road to real support at 1.2465$ which is 38% fibonnnaci retracment level while a break above 1.2510$ will clear the way for new highs this probably between 1.2580-1.2625$ area. Keep your eye on those levels and I prefer going short at the moment with exit if we close above 1.2510$

XRP/USDT not able to break 1.14$

The double bottom formed earlier last week at 1.14$ is turning into sniffing resistance and ripple is not able to break above it. $XRP is currently trading at 1.12$ stuck between support at 1.05$ and resistance at 1.14$ .Watch out for a break either above the resistance or below the support.

Ripple : Rebounds from 1.05$

Ripple ($XRP) fall to lows of 1.05$ where it found critical support and rebound to 1.11$ at the moment of writing. Yesterday XRP broke below the bullish trend-line and broke the double bottom at 1.14$ . Last line of defense mentioned in earlier post managed to give the pair some support. Currently the pair might face some resistance at 1.14$ (previous support turned into resistance) and we have 1.25$ as break or make critical area. it will of great resistance which if broken will create a strong bullish trend.

XRP (ripple) technical analysis 27-1-2018

Ripple is being bound the bearish trendline formed on the 30 minutes chart as show below and it has been trading below the 200 SMA (simple moving average) for 2 days now. Once we break above that line , first resistance will be around 1.55$ then followed by 2.30$ , on the down side , first support can be found 1.14$ which proved to be double bottom for 2 days now. If xrp/usd breaks 1.14$ , we will test 1.05$ , However , it is preferred to stay as long as you can until we break 1.05$ and your target should be around 2.30$

EUR/GBP technical analysis and forecast

EUR/GBP has broken the bearish trendline as per daily chart below and has been booking gains and consolidating since then. However , I don't recommend going long at the current area , I would like to wait for a test of thew rising trendline and the might be the crossing of both trendlines and go long at that area . However , If we see a break of the Rising trendline , We will have all the way down to 0.8080 area before resumption of further move upwards. The pair might test the trendline around the area of 0.8540 , Keep an eye on that area and behavior of the pair for indication of future movement. Make sure to follow me on twitter @b4borio and feel free to contact me anytime.

GBPUSD Reversal

Last week , the pair rallied after bottoming three times at 1.2830$ , reaching 1.3050$ However , looking at the big picture , 1.30$ handle is big game now for sterling and we have bearish trendline still intact. Shorting the pair at current level might bring you big reward , we might go down till 1.2680$ within the next few weeks.  

Gbpusd capped by trendline

Dear traders , Hope you are all having a profitable trading day , I would like to be sharing my technical analysis for GBPUSD as it is currently testing a very critical level. The pair advanced almost 300 pips from last week after making a low at 1.2110$ area. The pair is currently capped by a good trendline and will probably pullback to test 1.2280$ area again. It is advised to short the pair at current area 1.2420$ targeting 1.2280$ Quit this trade if the pair closes a 4h candle above 1.2440$ Wish I am helping you .. if you find this useful please leave a comment and share your ideas.

USD/CAD technical analysis for 24-28 oct.

Check below chart to get a glimpse of where we are standing now. The pair has been advancing since poloz speech making a hammer candle on the 4h chart and posting 250 pips more. The pair is currently capped by the upper trendline of the ranging channel. We can issue a short trade here looking to take profit at 1.2960 The stop loss is on daily close above the 1.3350 area.we would issue a long position then targeting 1.3650; P.S: The long position issued at 1.3054 closed at 1.3320