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USDJPY testing ascending channel support, strong challenge for the bulls
There has been a sharp drop in the USDJPY pair after it hit channel resistance level at 114.00.Initially we had a false breakout of the channel top resistance level but eventually, the bears managed to take control of this market. Most of the professional traders went short, after the formation of the daily bearish pinRead More
Kiwi dollar testing solid support, cautious bulls wait
There has been a decent drop in the NZDUSD pair after it hit the critical resistance level at 0.74333.Most of the professional investors went short from that level after the formation of bearish pin bar in the daily chart. Currently, the pair is testing the critical support level at 0.71842 and we have bullish pinRead More
USDCAD bounce off from critical weekly trend line support, another bullish rally?
The USDCAD pair has been sharply falling in the global market after it hit the critical resistance level at 1.29189.From that level, the bears have taken control over the market and managed to breach the dynamic support level at 1.26637.After the clear break of the 100 day SMA, most of the professional traders went shortRead More