Eye on majors, quick technical outlook!

  • by Amir El Araby
  • September 12, 2019, 12:41 AM
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The EURUSD pair has been trading in a downtrend since placing the short-term peak in the 1.1415 zones. 


On September 03, bulls of the EURUSD pair has been able to stop the bearishness where they succeeded in drawing a hammer candlestick pattern. Areas of 1.1180 could be a soft technical target of the pattern as a recovery clear pattern. 

On the downside, EURUSD shouldn’t breach 1.0855, which act as a stop loss for any longs.


The GBPUSD has been locked in a consolidation mode since recovery from the medium-term low placed in 1.1950 zones. 


In result, we do believe that staying aside is preferable until a better signal appears. 

Key support exists in 1.2270, while 1.2380 limits the bullish recovery till the moment. 


The USDCHF pair is now in a clear bearish mode after putting in huge negative divergence, which is strong on H4, H6 and H8 as well. 


With a break below SMA50 – colored in red- the path will be clear towards 0.9800 as far as 1.0000 psychological level remains intact. 


Strong bearish candlestick pattern in progress along with lack of bullish momentum appearing on the chart.