Posted by fxmars.com
EURUSD:
On the D1 chart we see how the upper level of the orange bearish corridor from May 12 has been turned from a resistance into a support. After the break from June 25, the price was resisted by the blue bearish trend line from 2008 and created a top at 1.37000. After the bounce from the orange bearish line, the stochastic oscillator went out of the oversold market area and both the indicator and the price started increasing. For this reason, we believe that the price is likely to increase even more, where the potential resistances to be met are at 1.36711 and 1.37000.
USDJPY:
After bouncing from the 101.197 support at June 30, the price started increasing and it created a top at 102.215. The followed decrease reached again the 101.197 support, which is the current location of the price. After meeting this level again, the price demonstrated a decrease in its bearish intensity. Furthermore, the stochastic oscillator touched the area, which signalizes for an oversold market, and its two lines are about to cross in bullish direction, which supports the bullish idea caused by the 101.197 support. For this reason, an increase to 102.215 is likely to occur, and maybe to 102.770 afterwards.
GBPUSD:
After breaking through the top at 1.70475 on June 30, the Cable created a new high at 1.7180. Currently, the price is consolidating right under this level and the consolidation resembles a triangle, which speaks of an eventual move of the price. At the same time, the stochastic oscillator is testing its bullish trend line from May 15 and it seems like the stochastic is about to bounce in bullish direction. For this reason, we believe that the price would eventually break its last top at 1.7180 and would probably increase even more.
EURUSD:
On the D1 chart we see how the upper level of the orange bearish corridor from May 12 has been turned from a resistance into a support. After the break from June 25, the price was resisted by the blue bearish trend line from 2008 and created a top at 1.37000. After the bounce from the orange bearish line, the stochastic oscillator went out of the oversold market area and both the indicator and the price started increasing. For this reason, we believe that the price is likely to increase even more, where the potential resistances to be met are at 1.36711 and 1.37000.
USDJPY:
After bouncing from the 101.197 support at June 30, the price started increasing and it created a top at 102.215. The followed decrease reached again the 101.197 support, which is the current location of the price. After meeting this level again, the price demonstrated a decrease in its bearish intensity. Furthermore, the stochastic oscillator touched the area, which signalizes for an oversold market, and its two lines are about to cross in bullish direction, which supports the bullish idea caused by the 101.197 support. For this reason, an increase to 102.215 is likely to occur, and maybe to 102.770 afterwards.
GBPUSD:
After breaking through the top at 1.70475 on June 30, the Cable created a new high at 1.7180. Currently, the price is consolidating right under this level and the consolidation resembles a triangle, which speaks of an eventual move of the price. At the same time, the stochastic oscillator is testing its bullish trend line from May 15 and it seems like the stochastic is about to bounce in bullish direction. For this reason, we believe that the price would eventually break its last top at 1.7180 and would probably increase even more.