Currencies are believed to move in cycles, which means that one may try to estimate and predict their future fluctuations. Technical analysis helps to look into behavior of currency pairs on the basis of traded value, movement direction, investors’ common interests, and fluctuations history.
After testing and rebounding from 104.88, USDJPY is still trading downwards and trying to test the upside border of the current channel.
After testing and breaking 104.88, USDJPY is expected to continue falling with the target at 104.40.
USDRUB is slowly falling towards the support area at 74.50.
EURUSD is no longer consolidating within a Triangle pattern; after reaching 1.1890, it has broken this level to the upside.
After rebounding from the support line and transforming a correctional channel into an ascending one, BTCUSD is growing towards the key resistance line at 10640.00.
Gold rests in a medium-term downtrend. Yesterday, the market completed a wave of ascending pullback, breaking away the local support line.
USDCHF performed a link of decline to 0.9130. For now, the market is pushed downwards.
The currency pair keeps developing a downtrend. Today, it may test 1.1787 from below, then decline to 1.1745.