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2019 May

May 24th, 2019 @ 6:00 am by Muhammad Azeem

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Trend is up in EURUSD fifteen minutes chart. Key support level is present at 1.1172 price area, based on most recent swing low in 15 minutes time frame of EURUSD. EURUSD show strong bullish move in the previous session and it remains stable above 1.1172. Thus, no change to the up trend environment as price action stays above 1.1172 support area, while its next main target located at 1.1190 price level which is a round number.

 

Based on technical and fundamental analysis, price of EURUSD is most likely going to rise more and currency traders should consider taking a possible buy trading chance to join an up trend. There was German Manufacturing PMI major news announcement for the Euro on Thursday which was bad for the US Dollar. However; a clear bearish break out in price action above 1.1172 critical support area will end the up trend. In such a market scenario, it would be best not to trade EURUSD and re-analyze the 15 minutes chart price action.

EURUSD Forex Analysis

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May 24th, 2019 @ 5:59 am by Muhammad Azeem

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Intraday bias in GBP/USD remains on the downside for the moment in 15 minutes time frame. Price action is falling down and stepping lower and Forex traders could easily notice that market is printing lower swing highs and lower swing lows. Vital area for sellers present at 1.2693; based on most recent swing high in fifteen minutes chart of GBPUSD.

 

No news came out on Thursday for the GBP. Technically; bearish trend could take price action towards next support target at 1.2600. As the trend is still bearish, Forex traders should consider only short trades and no trade against the current GBPUSD bearish trend. However; a clear bullish break out in price action above 1.2693 vital resistance area will end the bearish momentum. Henceforth, currency traders may jump at the chance to stay out of the market and re-inspect the GBPUSD Spot Forex pair.

GBPUSD Forex Analysis

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May 24th, 2019 @ 5:59 am by Muhammad Azeem

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The price action of USDJPY pair has been trading with a bearish bias inside fifteen minutes chart and the down trend looks good. Price action is stepping down, and bearish trend looks quite strong. Key resistance level is present at 110.08 price area, based on most recent swing high in 15 minutes chart of USDJPY.

 

For the Japanese Yen on Thursday, there was no critical outstanding news announcement. According to the Forex analysis; USDJPY bearish trend could move price towards next resistance target at 109.40 with reference to the down trend, Forex traders should consider only sell trades. However; price could breaks and closes a bullish candlestick above 110.08 important resistance level then this will end the bearish trend. From this time forward, Forex traders must seize the opportunity to stop trading and re-assess USDJPY in 15 minutes time frame.

USDJPY Forex Analysis

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May 24th, 2019 @ 5:58 am by Muhammad Azeem

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With a good momentum, the price of USDCHF Spot Forex pair is moving down. Price action is stepping down and Forex traders could easily notice that price action is printing lower swing highs and lower swing lows. Key resistance level is present at 1.0094 price level, based on most recent swing high in 15 minutes time frame of USDCHF.

 

On Thursday in Swiss Franc, there was no important news event declaration. Technically; bearish prices could easily move USDCHF towards next support target at 1.0020. With reference to the strong bearish trend, traders should consider only sell trades and no trade against bearish momentum of USDCHF. However; a clear bullish break out in price action above 1.0094 vital resistance area will end the down momentum. In such type of Forex trading market situation, avoid buying and selling USDCHF and just keep re-analyzing the price movement.

USDCHF Forex Analysis

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May 23rd, 2019 @ 6:02 am by Muhammad Azeem

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Trend is down in EURUSD fifteen minutes chart. Key resistance level is present at 1.1187 price area, based on most recent swing high in 15 minutes time frame of EURUSD. EURUSD did show weak bearish move in the previous session and it remains stable below 1.1187.Thus, no change to the down trend environment as price action stays below 1.1187 resistance area, while its next main target located at 1.1140 price level which is a round number.

 

Based on technical and fundamental analysis, price of EURUSD is most likely going to drop more and currency traders should consider taking a possible sell trading chance to join down trend. There was FOMC Meeting Minutes major news announcement for the Euro on Wednesday which was bad for the US Dollar. However; a clear bullish break out in price action above 1.1187 critical resistance area will end the down trend. In such a market scenario, it would be best not to trade EURUSD and re-analyze the 15 minutes chart price action.

EURUSD Forex Analysis

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May 23rd, 2019 @ 6:02 am by Muhammad Azeem

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Intraday bias in GBP/USD remains on the downside for the moment in 15 minutes time frame. Price action is falling down and stepping lower and Forex traders could easily notice that market is printing lower swing highs and lower swing lows. Vital area for sellers present at 1.2718, based on most recent swing high in fifteen minutes chart of GBPUSD.

 

CPI y/y news came out on Wednesday for the GBP with good numbers. Technically; bearish trend could take price action towards next support target at 1.2620. As the trend is still bearish, Forex traders should consider only short trades and no trade against the current GBPUSD bearish trend. However; a clear bullish break out in price action above 1.2718 vital resistance area will end the bearish momentum. Henceforth, currency traders may jump at the chance to stay out of the market and re-inspect the GBPUSD Spot Forex pair.

GBPUSD Forex Analysis

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May 23rd, 2019 @ 6:02 am by Muhammad Azeem

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The price action of USDJPY pair has been trading with a bearish bias inside fifteen minutes chart and the down trend looks good. Price action is stepping down, and bearish trend looks strong. Key resistance level is present at 110.42 price area, based on most recent swing high in 15 minutes chart of USDJPY.

 

For the Japanese Yen on Wednesday, there was no outstanding news announcement. According to the Forex analysis; USDJPY bearish trend could move price towards next resistance target at 110.00 with reference to the down trend, Forex traders should consider only sell trades. However; price could breaks and closes a bullish candlestick above 110.42 important resistance level and this will end the bearish trend. From this time forward, Forex traders must seize the opportunity to stop trading and re-assess USDJPY in 15 minutes time frame.

USDJPY Forex Analysis

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May 23rd, 2019 @ 6:02 am by Muhammad Azeem

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With a strong sideways market, the price of USDCHF Spot Forex pair is moving nowhere. Price action is stepping down and stepping up and Forex traders could easily notice that price action is printing up and down swings. Strong key resistance level is present at 1.0119 price level and strong key support level is present at 1.0065, based on most recent swing high and swing low in 15 minutes time frame of USDCHF.

 

On Wednesday in Swiss Franc, there was no important news event declaration. Technically; sideways prices could easily move out of the range trading environment in USDCHF. With reference to the sideways trend, traders should consider no sell and no buy trades. However; a clear bullish break out in price action above 1.0119 resistance area or a bearish break down in price action below 1.0065 support area will kick start the new trend. So, based on today’s market situation, avoid buying and selling USDCHF and just keep re-analyzing the price movement.

USDCHF Forex Analysis

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