The USDJPY is trading in a defined uptrend since last summer. After a chain of higher highs, the Yen is forming a Symmetrical Triangle. This Technical Analysis pattern is a continuation pattern for the 80% of the time. A breakout of the triangle may bring the USDJPY to new highs towards 1.2400 area.
The EURCAD traded between Yesterday high/low range. Looking at the Price Action, the EUR/CAD formed ad Inside Bar. In additon, the pair rejected the 21 EMA forming a Pin Bar. A breakdown of this Pin Inside Bar might be a short term opportunity for a sell.
The EURUSD keeps falling since May 2013 after the Double Top formation. The 200 SMA maintains a strong bearish slope. Last week the Euro reached the 1.17550 level and today we've had a retest. If the support holds, next resistance could be found at the 1.18690 level and at the 1.20400 level (low of 2012). On the downside support could be found at the 1.16518 level (low of 2005).
The AUDUSD keeps falling since September after it failed in breaking level 0.94100. In the last week, the pair reached the support level at 0.80670. If the support holds, the first resistance could be the bearish trendline while the second one could be found at the 0.83150 level.
The AUDCHF is trading in a downtrend below its 200 SMA. Yesterday the pair touched the bearish trendline after it reached a low of year at 0.78305. Today the AUDCHF closed forming an Inside Bar, a Price Action signal. A breakout of the candle might give the short term direction of the price.
The 26 of November the AUDNZD formed a Triple Top pattern as it was shown in this post (italian). The pair reached the target price at 1.05400 as expected.
Stay Tuned!
The EURGBP is trading below its 200 SMA in what it seems a symmetrical triangle. On Tuesday the pair rejected the upper part of the triangle forming what in Price Action is called a Bearish Pin Bar. A break below the candle's low might be an opportunity for a short.
