GBP/USD Price Analysis: Bulls look to 1.2450 while bears eye test of 1.2100.

In the 4-hour chart, we can see that the price is forming a head & shoulders pattern. A break of structure in the 1.2150s is required for a move into testing the trendline support and commitments at 1.2100.If the bulls were to commit, then the case for a higher bull cycle high would be onContinue reading “GBP/USD Price Analysis: Bulls look to 1.2450 while bears eye test of 1.2100.”

EUR/USD remains on the defensive below 1.0500, moves little post-German Factory Orders.

EUR/USD struggles to capitalize on its intraday uptick amid some buying around the USD.The better-than-expected German Factory Orders data also does little to provide impetus. The fundamental backdrop supports prospects for some meaningful corrective pullback.The EUR/USD pair surrenders its modest intraday gains to the 1.0520 area and refreshes the daily low during the early EuropeanContinue reading “EUR/USD remains on the defensive below 1.0500, moves little post-German Factory Orders.”

EUR/USD eyes next resistance zone at 1.0630/1.0690 .

EUR/USD is inching towards the next resistance zone of 1.0630/1.0690. Failure to surpass this area could lead to a short-term pullback, economists at Société Générale report.  The bounce is likely to persist.“EUR/USD has given a break above the brief consolidation since mid-November; this crossover highlights the bounce is likely to persist.” “The pair is graduallyContinue reading “EUR/USD eyes next resistance zone at 1.0630/1.0690 .”

EUR/USD Price Analysis: Bulls eye higher highs in the 1.05 area.

EUR/USD H1 W-formation has seen a correction into the 50% mean reversion area.The bulls are in control on the front side of the trendline support.  As per the prior analysis, EUR/USD Price Analysis: Bears move in and eye a break towards key 1.0300 support, whereby an inverse head & shoulders was identified on the dailyContinue reading “EUR/USD Price Analysis: Bulls eye higher highs in the 1.05 area.”