USD/JPY TECHNICAL ARTICLE ON AUGUST 29

USD/JPY is one of the high volatile currency pair in forex. It is proved by the daily fluctuations that occurs in this pair. The “buy” market has been showing for the two days and the USD has gained 120+ pips. 

In this scenario, the market is sailing towards the overbought condition. The overbought will be achieved in the resistance of 99.036 and until then, the market belongs to the USD trend.

The further contribution will be provided by the upcoming news releases to the favor of the USD. Not only with JPY, the USD has gained with most of the pairs, especially with AUD, GBP and NZD. 

A good trend can be expected at the time of news releases and somehow, the traders are possible to gain around 50+ pips. The fundamental and technical indicators are merging with the trend, so there will be a great hope to attain 50+ pips.

EUR/CAD TECHNICAL ARTICLE ON AUGUST 27

EUR/CAD is one of the significant pairs in the forex market. From the opening of this week, it has shown the downtrend, especially after achieving its two year high of 1.41249. 

So, it is very easy for the traders to predict the trend. On today, the market has opened at the point 1.40477 and noted by its uptrend to gain around 40 pips. 

All of a sudden, the trend reversal has occurred due to the news intervention and gained more than 50 pips. The trend will stick with this short to gain more sum of pips. 

We can predict this trend as a long term trend by the bounce back occurred on the great resistance of 1.41249. The sudden reversal continues the same trend to be gradual and will find a great support in the near future. 

Moreover, the EMA gives more support to this trend and a possibility to grab 30+ pips for today alone.

Forex Quotes for the Day

NZD/USD TECHNICAL ANALYSIS ON AUGUST 26

The trend of NZD/USD has put an end to its consecutive sell and began its long on this week open in 0.77984. This trend reversal has done in the belief of the great resistance. 

For the last week, the USD has gained a bunch of 400 pips against the NZD and it is considerable for this pair. By this substantial gain of USD has led the short to be oversold. So, it is obviously giving favor to the uptrend and leads the market towards the resistance. 

The short term and long term moving average is predicting the tremendous uptrend to achieve a gain of about  70+ pips. Even though, the trend has been showing its uptrend from the beginning of today, it is clearly predicted as  long in the point of 0.78371. 

Once it crosses the initial resistance, it will be trending towards the top to find its great resistance. If the indicators are right, it could be assured of getting the 70+ pips. Perhaps, the trend will continue this long, it is highly possible to compensate the last week short.

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GBP/USD TECHNICAL ARTICLE ON AUG 23

The gradual gain of GBP has occurred since July 10 for the GBP/USD. This tremendous trend is noted its gain of 800+ pips and it proved the insecurity for USD as well. 

Besides, there are several news releases have given favor to the GBP. But, remember GBP/USD is the significant pair and obviously it is shown the monthly zigzag movement. 

By the way, if the point 1.48126 is considered as a great support then we can surely predict the resistance as 1.57154. And it has attained its great resistance on August 21. The big picture pattern is clearly notified the trend to the trader. If, the indicator is right, it is being to start its downtrend. 

Today, the price is focusing to reach its greater resistance once again. The traders can strongly believe on this resistance and will anticipate the short to accomplish the near support of 1.55024.