Looking at today’s USD/CHF chart we can see that a bullish pin bar reversal pattern has formed after price reached down to the prior resistance level of 0.9648, which now forms support. Stochastics are poised to cross from below to above the 20 level, adding to the bullish scenario.
A classic pin bar set up has formed on the EUR/GBP four hour chart. Price reached to a prior resistance level of 0.9030, which we can see on the weekly chart below before reversing. Stochastics also crossed from above 80 to below 80, adding to the bearish scenario. The set up is usually traded by […]
EUR/USD is under pressure with price coming precariously near the 2018 low of 1.1508 reached on May 29th. Price is confined within a descending triangle pattern and bears are looking for a potential breakout to the downside. Looking at the weekly chart we can see that price is nearing the 50% retracement of the upmove that […]
Gold showed little reaction to Wednesday’s as-expected FOMC Statement, ending the day marginally lower. The Federal Open Market Committee voted unanimously to keep the target range for its benchmark rate at 1.75 percent to 2 percent and upgraded its assessment of the U.S. economy to ‘strong’. The downtrend in gold began in April 2018 and price […]