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2019 May

May 30th, 2019 @ 7:57 am by Muhammad Azeem

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The price action of USDJPY pair has been trading with a bullish bias inside fifteen minutes chart and the up trend looks good. Price action is stepping up, and bullish trend looks quite strong. Key support level is present at 109.47 price area, based on most recent swing low in 15 minutes chart of USDJPY.

 

For the Japanese Yen on Wednesday, there was no news came out for the Yen. According to the Forex analysis; USDJPY bullish trend could move price towards next resistance target at 109.90 with reference to the up trend, Forex traders should consider only buy trades. However; price could breaks and closes a bearish candlestick below 109.47 support level then this will end the bullish 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 30th, 2019 @ 7:57 am by Muhammad Azeem

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With a good momentum, the price of USDCHF Spot Forex pair is moving up. Price action is stepping up and Forex traders could easily notice that price action is printing higher swing highs and higher swing lows. Key support level is present at 1.0033 price level, based on most recent swing low in 15 minutes time frame of USDCHF.

 

On Wednesday in Swiss Franc, there was no new important news event declaration, for the CHF. Technically; bullish prices could easily move USDCHF towards next resistance target at 1.0100 round number. With reference to the strong bullish trend, traders should consider only buy trades and no trade against bullish momentum of USDCHF. However; a clear bearish break down in price action below 1.0033 vital support area will end the up 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 30th, 2019 @ 7:56 am by Muhammad Azeem

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Intraday bias in GBP/USD remains on the down side 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 is present at 1.2670; based on most recent swing high in fifteen minutes chart of GBPUSD.

 

There was no news came out on Wednesday 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 1.2670 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 30th, 2019 @ 7:56 am by Muhammad Azeem

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Trend is down in EURUSD fifteen minutes chart. Key resistance level is present at 1.1153 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 1.1110. Thus, no change to the down trend environment as price action stays below 1.1153 resistance area, while its next main target located at 1.1110 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 the down trend. There was no major news announcement for the Euro on Wednesday. However; a clear bullish break out in price action above 1.1153 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 29th, 2019 @ 5:04 am by Muhammad Azeem

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With a good momentum, the price of USDCHF Spot Forex pair is moving up. Price action is stepping up and Forex traders could easily notice that price action is printing higher swing highs and higher swing lows. Key support level is present at 1.0033 price level, based on most recent swing low in 15 minutes time frame of USDCHF.

 

On Tuesday in Swiss Franc, there was GDP q/q numbers with actual greater than forecast important news event declaration, good for the CHF. Technically; bullish prices could easily move USDCHF towards next resistance target at 1.0100 round number. With reference to the strong bullish trend, traders should consider only buy trades and no trade against bullish momentum of USDCHF. However; a clear bearish break down in price action below 1.0033 vital support area will end the up 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 29th, 2019 @ 5:03 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 109.72 price area, based on most recent swing high in 15 minutes chart of USDJPY.

 

For the Japanese Yen on Tuesday, there was speech of BOJ Governor Haruhiko Kuroda which came with bad statement for the Yen. According to the Forex analysis; USDJPY bearish trend could move price towards next support target at 109.00 with reference to the down trend, Forex traders should consider only sell trades. However; price could breaks and closes a bullish candlestick above 109.72 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 29th, 2019 @ 5:03 am by Muhammad Azeem

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Intraday bias in GBP/USD remains on the down side 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 is present at 1.2700; based on most recent swing high in fifteen minutes chart of GBPUSD.

 

There was no news came out on Tuesday for the GBP. Technically; bearish trend could take price action towards next support target at 1.2640. 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 1.2700 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 29th, 2019 @ 5:02 am by Muhammad Azeem

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Trend is down in EURUSD fifteen minutes chart. Key resistance level is present at 1.1197 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 1.1197. Thus, no change to the down trend environment as price action stays below 1.1197 resistance area, while its next main target located at 1.1150 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 the down trend. There was no major news announcement for the Euro on Tuesday. However; a clear bullish break out in price action above 1.1197 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

Click here to read the full article.

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