Analisis 26 Maret 2014

Eur/usd
The price tested the 5-years bearish trend line (turquoise) for fourth time. The level stood up the pressure of the price and a bullish bounce occurred. The bounce is visible on the Momentum Indicator too, but after the price reached a certain level, after two hours it started dropping, while the Momentum Indicator continued with the higher tops and bottoms. In other words, this is a clear bullish divergence. In a combination with the strong support (the 5-years bearish trend), we might state that the price would most likely restore the bullish movement.

USDJPY:
The consolidation after the Double Bottom formation started resembling a symmetrical triangle (orange). The tops of the triangle are synchronized with the previous clearly stated top by a bearish trend line (turquoise). The Momentum Indicator is consolidating too. As we all know, the symmetrical triangle has the potential to push the price in both direction. Having in mind that the price is touching a bearish trend line, the most logical scenario would be a bearish bounce and a drop with the size of the triangle or to the support formed by the Double Bottom formation. On the other hand, we should be careful for bullish breaks. If such occurs, we might see the price testing the 3-months purple bearish trend line.

GBPUSD:
The price has returned to test as a resistance the already broken lower level of the blue bullish corridor (D1). The price bounced in bearish direction afterwards. The last two bottoms of the price could be connected with a line (light blue bullish line), which might have the potential to support the price. For this reason, one of the possible scenarios for the price is a drop to the light blue bullish line and a bullish increase afterwards. The interaction point between the lower level of the blue bullish corridor (D1) and the purple bearish trend line might be the next test zone of the price.

USDCHF:
After breaking in bullish direction through the upper level of the red bearish corridor, the price started a consolidation, which formed a resistance in the area around 0.88600 (pink). After the last interaction with this resistance, the price dropped for a test of the already broken upper level of the red bearish corridor as a support. The level stood the pressure of the price and currently we witness a bullish movement. The Momentum Indicator also signalizes for a bullish activity. For this reason, we believe that the price would most likely return to the pink resistance and having in mind the test of the upper level of the corridor as a support and the fact that during the last interaction with the pink resistance, the price did a little break, we believe that the price might even see a break through the pink resistance.

AUDUSD:
The price broke again through the Neck Line of the inverted Head and Shoulders formation on the D1 chart. Thereafter the price started moving after a bullish trend line (turquoise), which is probably beginning of the bullish effect owing the inverted Head and Shoulders formation. The Momentum Indicator also shows a slight bullish increase (light blue line), which has already moved above the 100-level line. For this reason, we believe that the price would continue following the turquoise bullish trend line for now. The situation looks pleasant for a long-term bullish position, which might lead to a profit of 300-400 pips.