EURUSD Technical Analysis – 02nd MAY, 2024
EURUSD – Bearish Trend Reversal
EURUSD was unable to sustain its bullish momentum and after touching a high of 1.0727 started its bearish momentum below the 1.0700 levels.
We can see the formation of a Bearish Trend Reversal pattern with the Adaptive Moving Average AMA100 in the 4-hourly timeframe.
We can see that the price of Euro is back under the Pivot point in the Daily timeframe.
Some of the Technical Indicators are also giving a Sell signal below the 1.0710 levels.
Both the Support of the Channel and Triangle is broken in the 15-minutes timeframe.
EURUSD is now trading above its 100-hour SMA and 200-hour SMA simple moving averages.
The next Support is located at 1.0683 which is a 3-10-16 Day MACD Moving Average Stalls.
EURUSD is now trading below its Pivot levels of 1.0702 and is moving into a Mild bearish channel. The price of EURUSD remains above its Classic support levels of 1.0685 and is moving towards its next target of 1.0683.
Disclaimer: This analysis represents my own opinion only. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand.
For in-depth analysis, please check FXOpen Blog
GBPUSD Technical Analysis – 02nd MAY, 2024
GBPUSD – Bearish Trend Reversal
GBPUSD was unable to sustain its Bullish momentum this week and after touching a high of 1.2543 today, it started to decline towards the 1.2500 levels.
We can see the formation of Bearish Trend Reversal pattern with the Moving Average MA50 in the 2-hourly timeframe.
The prices of Pound are back under the Pivot point in the 2-hourly timeframe.
Some of the Technical indicators are giving a Sell signal at the current market levels of 1.2517.
The Support of the channel is broken in the 15-minutes timeframe.
GBPUSD is now trading below its 100-hour SMA and above its 200-hour SMA simple moving average.
GBPUSD is now trading just above its Pivot levels of 1.2512 and is moving into a Consolidation channel.
The price of GBPUSD is aiming to cross its Classic Support Levels of 1.2500 after which we can see downwards bearish pressure towards the 1.2488 which is a 14-3 Day Raw Stochastic at 70%.
Disclaimer: This analysis represents my own opinion only. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand.
For in-depth analysis, please check FXOpen Blog
EURUSD – Bearish Trend Reversal
EURUSD was unable to sustain its bullish momentum and after touching a high of 1.0727 started its bearish momentum below the 1.0700 levels.
We can see the formation of a Bearish Trend Reversal pattern with the Adaptive Moving Average AMA100 in the 4-hourly timeframe.
We can see that the price of Euro is back under the Pivot point in the Daily timeframe.
Some of the Technical Indicators are also giving a Sell signal below the 1.0710 levels.
Both the Support of the Channel and Triangle is broken in the 15-minutes timeframe.
EURUSD is now trading above its 100-hour SMA and 200-hour SMA simple moving averages.
- Euro Bearish Reversal seen Below the 1.0727 mark.
- Short-term range appears to be Neutral.
- EURUSD continues to remain Below the 1.0720 levels.
- Average true range ATR is indicating less market volatility.
The next Support is located at 1.0683 which is a 3-10-16 Day MACD Moving Average Stalls.
EURUSD is now trading below its Pivot levels of 1.0702 and is moving into a Mild bearish channel. The price of EURUSD remains above its Classic support levels of 1.0685 and is moving towards its next target of 1.0683.
Disclaimer: This analysis represents my own opinion only. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand.
For in-depth analysis, please check FXOpen Blog
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GBPUSD Technical Analysis – 02nd MAY, 2024
GBPUSD – Bearish Trend Reversal
GBPUSD was unable to sustain its Bullish momentum this week and after touching a high of 1.2543 today, it started to decline towards the 1.2500 levels.
We can see the formation of Bearish Trend Reversal pattern with the Moving Average MA50 in the 2-hourly timeframe.
The prices of Pound are back under the Pivot point in the 2-hourly timeframe.
Some of the Technical indicators are giving a Sell signal at the current market levels of 1.2517.
The Support of the channel is broken in the 15-minutes timeframe.
GBPUSD is now trading below its 100-hour SMA and above its 200-hour SMA simple moving average.
- Pound Bearish Reversal seen Below the 1.2543 mark.
- Short-term range appears to be Neutral.
- GBPUSD continues to remain Below the 1.2520 levels.
- Average true range ATR is indicating less market volatility.
GBPUSD is now trading just above its Pivot levels of 1.2512 and is moving into a Consolidation channel.
The price of GBPUSD is aiming to cross its Classic Support Levels of 1.2500 after which we can see downwards bearish pressure towards the 1.2488 which is a 14-3 Day Raw Stochastic at 70%.
Disclaimer: This analysis represents my own opinion only. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand.
For in-depth analysis, please check FXOpen Blog
