EURJPY holding for a new leg lower?

Market News & Analysis Looking at the EURJPY daily we can see buyers have started to stall the decline from a previous low. The point of the low which has also now formed the base of a descending triangle pattern which are normally seen as continuation patterns in...

GBPJPY testing pattern base

Market News & Analysis Looking at the GBPJPY daily chart we can see that price has returned to the base of its longer-term descending triangle pattern. The base of this patter has held since February. While price remains above the base we would be looking for...

AUDUSD setting up to move back below 70 cents?

Market News & Analysis The Drums are getting louder for the RBA to cut rates, today JP Morgan analyst has called the RBA may cut the cash rate by 25 points in July and by a further 25 points in August. This comes after Westpac knocked the AUDUSD lower late...

CADCHF held in Wedge Pattern

Market News & Analysis CADCHF 12H remains tightly held in a wedge pattern that at the moment is hard to call a consolidation. Why is that? Normally this type of pattern will normally have four points, the current wedge has made six points which is starting to...

USDCAD at a crossroad – bullish pattern forming

Market News & Analysis USDCAD has had a mainly hard week dropping 72 pips till Wednesday’s close. Overnight USD bulls jumped back into action, the $/C recouping 56 pips its best single day rally since the 7th of Feb. Looking at the daily chart below, things...