EURUSD:
As we see, after the interaction with the support at 1.33231, the price has broken the orange bearish trend line from July 10. At the same time, we see that this happens after the creation of the light blue bullish divergence between the bottoms of the price and the stochastic oscillator. Furthermore, the stochastic oscillator has created an ascending triangle, which, as we all know, has the potential to break in both directions. Having in mind the signs, which we already discussed, we assume that the break is most likely to be in bullish direction through the upper level of the triangle. If this happens, we could use such signal for a trigger of a long position. This could bring the price to the already broken support at 1.35100 in order to be tested as a resistance.
USDJPY:
After the last decrease of the price, we witnessed a correction, which brought the price to the yellow bearish trend line from July 30 and the resistance at 102.700. The price bounced in bearish direction afterwards. At the same time, the stochastic oscillator interacted with the area of the overbought market and it is currently attempting a cross of its two lines, which gives us another bearish signal. For this reason, we believe that a new decrease of the price is likely to happen. This could bring the price to the many times tested support at 101.197.
GBPUSD:
The purple bearish corridor from July 15 has decreased the Cable to the support at 1.66552, which is the current location of the price. At the same time, the price is testing the lower level of the purple bearish corridor, which brings an additional support to the price. Moreover, we have the stochastic oscillator, which is currently in the area of the oversold market. Also, we see a hammer candle, which also speaks of an end of the bearish activity. In total, these are four bullish signals. For this reason, we believe that the price would increase to the upper level of the purple bearish corridor and having in mind the many bullish signals, we might also see a bullish break.
As we see, after the interaction with the support at 1.33231, the price has broken the orange bearish trend line from July 10. At the same time, we see that this happens after the creation of the light blue bullish divergence between the bottoms of the price and the stochastic oscillator. Furthermore, the stochastic oscillator has created an ascending triangle, which, as we all know, has the potential to break in both directions. Having in mind the signs, which we already discussed, we assume that the break is most likely to be in bullish direction through the upper level of the triangle. If this happens, we could use such signal for a trigger of a long position. This could bring the price to the already broken support at 1.35100 in order to be tested as a resistance.
USDJPY:
After the last decrease of the price, we witnessed a correction, which brought the price to the yellow bearish trend line from July 30 and the resistance at 102.700. The price bounced in bearish direction afterwards. At the same time, the stochastic oscillator interacted with the area of the overbought market and it is currently attempting a cross of its two lines, which gives us another bearish signal. For this reason, we believe that a new decrease of the price is likely to happen. This could bring the price to the many times tested support at 101.197.
GBPUSD:
The purple bearish corridor from July 15 has decreased the Cable to the support at 1.66552, which is the current location of the price. At the same time, the price is testing the lower level of the purple bearish corridor, which brings an additional support to the price. Moreover, we have the stochastic oscillator, which is currently in the area of the oversold market. Also, we see a hammer candle, which also speaks of an end of the bearish activity. In total, these are four bullish signals. For this reason, we believe that the price would increase to the upper level of the purple bearish corridor and having in mind the many bullish signals, we might also see a bullish break.
