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Head and Shoulders Pattern for AUDUSD

The monthly Australian Building Permits exceedeed the market expectations (Expected: 3.0%, Actual: 3.3%). On the other side, the monthly US Core Personal Consumption Expenditure – Price Index (YoY) was stable as the previous one at 2%. Viewing the weekly technical aspect, AUDUSD has been sinking for 10 months. Currently, Stochastics is forming a positive divergence, […]

The euro trade on defense mode…

     Good Morning,   – The euro trade on defense mode and recovers above 1.06 level, after hits a fresh 12 year lows at $1.0495 at Asia’s session. The common currency has fallen about 4.8 percent in the past five sessions – a pace of decline not seen even during the European debt crisis […]

Bullish Divergence for USDCAD

In H4 timeframe, USDCAD is moving downwards within the channel (C1) since June. Stochastics (5,3,3)  and CCI (14) are crossing above the 50 and 0 levels respectively, while RSI is forming a bullish divergence. If price breaks out above the trend line (T1), then buyers will target around the resistance zone 1.28-1.29. On the other […]