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May 16th, 2019 @ 4:59 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 0.9893 price level, based on most recent swing low in daily time frame of USDCHF.

 

On Tuesday in Swiss Franc, there was no important news event declaration. Technically; bullish prices could easily move USDCHF towards next resistance target at 1.0300. With reference to the strong up 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 0.9893 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 16th, 2019 @ 4:59 am by Muhammad Azeem

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The price action of USDJPY pair has been trading with a bearish bias inside daily chart and the down trend looks good. Price action is stepping down, and bearish trend looks strong. Key resistance level is present at 111.67 price area, based on most recent swing high in daily chart of USDJPY.

 

For the Japanese Yen on Tuesday, there was no outstanding news announcement. According to the Forex analysis; USDJPY bearish trend could move price towards next support target at 108.00 With reference to the down trend, Forex traders should consider only sell trades. However; price could breaks and closes a bullish candlestick above 111.67 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 daily time frame.

USDJPY Forex Analysis

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May 16th, 2019 @ 4:58 am by Muhammad Azeem

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In daily time frame as anticipated, GBPUSD trend looks somewhat bearish. Price action is falling down and stepping low and Forex traders could easily notice that market is printing lower swing highs and lower swing lows. Key resistance level is present at 1.3195 price area, based on most recent swing low in daily chart GBPUSD.

 

No news came out on Wednesday for the GBP. Technically; bearish trend could take price action towards next support target at 1.2700. 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 1.3195 key 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 16th, 2019 @ 4:57 am by Muhammad Azeem

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Trend is down in EURUSD daily chart. Price action is stepping down and Forex traders could easily notice that market is printing lower swing highs and lower swing lows. Key resistance level is present at 1.1323 price area, based on most recent swing high in daily chart of EURUSD. Based upon technical and fundamental analysis, price of EURUSD is most likely going to drop more now and currency traders should consider taking a possible sell trading chance to join down trend.

 

There was Retail Sales m/m major news announcement for the Euro with good numbers, on Wednesday. As trend is still bearish, traders should consider only short trades. Technically; bearish trend could take price action towards next support target at 1.1100. However; a clear bullish break out in price action above 1.1323 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 daily chart price action.

EURUSD Forex Analysis

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May 15th, 2019 @ 5:09 am by Muhammad Azeem

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USDCHF Daily Chart Analysis

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 0.9893 price level, based on most recent swing low in daily time frame of USDCHF.

On Tuesday in Swiss Franc, there was no important news event declaration. Technically; bullish prices could easily move USDCHF towards next resistance target at 1.0300. With reference to the strong up 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 0.9893 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 15th, 2019 @ 5:08 am by Muhammad Azeem

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USDJPY Daily Chart Analysis

The price action of USDJPY pair has been trading with a bearish bias inside daily chart and the down trend looks good. Price action is stepping down, and bearish trend looks strong. Key resistance level is present at 111.67 price area, based on most recent swing high in daily chart of USDJPY.

For the Japanese Yen on Tuesday, there was no outstanding news announcement. According to the Forex analysis; USDJPY bearish trend could move price towards next support target at 108.00 With reference to the down trend, Forex traders should consider only sell trades. However; price could breaks and closes a bullish candlestick above 111.67 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 daily time frame.

USDJPY Forex Analysis

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May 15th, 2019 @ 5:06 am by Muhammad Azeem

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GBPUSD Daily Chart Analysis

In daily time frame as anticipated, GBPUSD trend looks slightly bullish. Price action is falling down, not stepping up and Forex traders could easily notice that market is printing higher swing highs and higher swing lows. Key support level is present at 1.2865 price area, based on most recent swing low in daily chart GBPUSD.

Average Earnings Index 3m/y news came out on Tuesday for the GBP with bad numbers. Technically; bullish trend could take price action towards next resistance target at 1.3400. As the trend is still bullish, Forex traders should consider only long trades and no trade against the current GBPUSD bullish trend. However; a clear bearish break down in price action below 1.2865 key support area will end the bullish 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 15th, 2019 @ 5:02 am by Muhammad Azeem

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EURUSD Daily Chart Analysis

Trend is down in EURUSD daily chart. Price action is stepping down and Forex traders could easily notice that market is printing lower swing highs and lower swing lows. Key resistance level is present at 1.1323 price area, based on most recent swing high in daily chart of EURUSD. Based upon technical and fundamental analysis, price of EURUSD is most likely going to drop more now and currency traders should consider taking a possible sell trading chance to join down trend.

There was no major news announcement for the Euro, on Tuesday. As trend is still bearish, traders should consider only short trades. Technically; bearish trend could take price action towards next support target at 1.1100. However; a clear bullish break out in price action above 1.1323 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 daily chart price action.

EURUSD Forex Analysis

Click here to read the full article.

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