Posted by fxmars.com
EURUSD:
After the second interaction with 1.33634 and the little break through that level, the price bounced in bullish direction and it is currently moving toward the upper level of the blue bearish corridor from April 21. The stochastic oscillator is currently changing its direction from bearish to bullish. At the same time, there is an obvious bullish divergence between the last two bottoms of the chart and the stochastic oscillator. For this reason, we believe that the price is doing a correction, which would eventually reach the upper level of the blue bearish corridor.
USDJPY:
After its last interaction with the orange resistance at 102.725, the price started decreasing faster than usual. We remind that a signal for this was the bearish divergence between the last two tops of the stochastic oscillator and the chart. Furthermore, the current decrease of the price could be interpret as a rebound of the previous bullish activity. The stochastic oscillator broke its isosceles triangle in bearish direction, which supports the bearish movement of the price. For this reason, we believe that the price would eventually reach the many times tested support at 101.228.
GBPUSD:
After the price met the 1.68105 support again, we saw a Doji candle, and a correction of the bearish tendency to the purple bearish trend line from July 15. The price bounced in bearish direction from the purple bearish trend line and it broke the already mentioned support at 1.68105. At the same time, the stochastic oscillator did a bearish cross of its two lines, which supports the current bearish movement. For this reason, we believe that the price would meet at least the support at 1.67337, and eventually the next one at 1.66855. Do not forget that the stochastic oscillator might enter the oversold area at any time, which would give us the opposite signal.
EURUSD:
After the second interaction with 1.33634 and the little break through that level, the price bounced in bullish direction and it is currently moving toward the upper level of the blue bearish corridor from April 21. The stochastic oscillator is currently changing its direction from bearish to bullish. At the same time, there is an obvious bullish divergence between the last two bottoms of the chart and the stochastic oscillator. For this reason, we believe that the price is doing a correction, which would eventually reach the upper level of the blue bearish corridor.
USDJPY:
After its last interaction with the orange resistance at 102.725, the price started decreasing faster than usual. We remind that a signal for this was the bearish divergence between the last two tops of the stochastic oscillator and the chart. Furthermore, the current decrease of the price could be interpret as a rebound of the previous bullish activity. The stochastic oscillator broke its isosceles triangle in bearish direction, which supports the bearish movement of the price. For this reason, we believe that the price would eventually reach the many times tested support at 101.228.
GBPUSD:
After the price met the 1.68105 support again, we saw a Doji candle, and a correction of the bearish tendency to the purple bearish trend line from July 15. The price bounced in bearish direction from the purple bearish trend line and it broke the already mentioned support at 1.68105. At the same time, the stochastic oscillator did a bearish cross of its two lines, which supports the current bearish movement. For this reason, we believe that the price would meet at least the support at 1.67337, and eventually the next one at 1.66855. Do not forget that the stochastic oscillator might enter the oversold area at any time, which would give us the opposite signal.
