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Long-term and Short-term Setups


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GBP/NZD Technical Analysis

~~ The counter has formed a topping out formation in the near-term.

~~ It made a double top and has broken a key support level of 1.99508.

~~ Further, the round number of 2.00 can act as psychological barrier in the near-term.

~~ Though a pullback to the top cannot be ruled out, we still expect the pair to be bearish in the near-term.

 

 

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NZD/USD Technical Analysis

 

~~ As suggested earlier, the counter found support at the supportive trendline and bounced off.

~~ Now, it has broken the resistive trendline as well and consolidating just above it.

~~ We expect the pair resume to bull trend and head to the immediate resistance marked in the chart.

~~ The support zone marked in the chart can cap the declines.

 

 

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EUR/CHF Technical Analysis

 

~~ The strength of Swiss Franc bewilders us as it was able to contain the hottest currency like Euro.

~~ Despite EUR/USD & EUR/JPY moving to great heights, it is still in bearish territory and the counter has absorbed intense buying pressure.

~~ Technically, the formation resembles a round top and so a sell-off is on the cards when the Euro corrects against erstwhile currencies.

 

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GBP/USD Technical Analysis

 

~~ The counter's dynamics have changed drastically this week.

~~ It turned bearish abruptly due to the risk of no-deal Brexit.

~~ And there has been a significant amount of longs trapped.

~~ It broke the support of 1.30100 which is now capping the rally.

~~ We expect the pair to move down significantly as long as the pair stays below this level.

 

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AUD/CAD Technical Analysis

 

~~ The counter is currently trading around a strong resistance zone that triggered a sell-off previously.

~~ According to the wave, it has now completed the ABC correction for the down move it made.

~~ Further, the entire setup looks like a head and shoulder in the higher timeframes.

~~ Hence, we expect the pair to move down from here to the potential supportive trendline marked in the chart and if it is broken, it could trigger a larger sell-off.

 

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