Posted by fxmars.com
EURUSD:

After breaking the symmetrical triangle from the middle of March in bearish direction, the price created a Double Top formation, which got confirmed on Thursday with crossing the neck line at 1.36714. This is the basic reason to believe that the price would basically decrease in longer term and it could even reach 1.34650. At the same time, in the last two weeks, the price did a significantly fast drop, which has been slowing down in the last few trading days after the price reached the red neck line at 1.36714. This hints that a correction might come soon. Furthermore, the stochastic oscillator signalizes for an eventual upcoming increase of the price. The most reasonable resistance to be met is the upper level of the already broken symmetrical triangle from the middle of March. The price might start the expected bearish movement afterwards.
USDJPY:

After breaking in bearish direction through the symmetrical triangle from the beginning of January, the Yen tested the already broken lower level of the formation as a resistance and bounced in bearish direction again, where it met the 5-times tested support at 101.197. Having in mind that the price broke in bearish direction the triangle, which is older and stronger, it is likely to see the price breaking through the 101.197 support too. If the price breaks through this support, there would not be any significant support to be met at least until 96.405, which is the level indicating the last significant bottom of the price on W1. If the price bounces from the 101.197 support, it would probably reach again the already broken level of the triangle and the 102.770 resistance afterwards.
GBPUSD:

The Cable reached 1.69970, which is now considered as a 5-years high for the price. As a result of the bearish divergence between the chart and the stochastic oscillator, a bearish drop occurred afterwards and the price reached again the lower level of the blue bullish corridor from September 2013. As we see, there is a clear bounce from the lower level of the corridor, which infers that a bigger bullish movement is about to appear. At the same time, with getting out of the 0-20 area, the stochastic oscillator gives a beautiful bullish signal, which supports the bullish scenario. The next resistance to be met is the purple level at 1.69970, which indicates the previous top of the price.
USDCHF:

With completing the smaller double bottom formation (blue) with bottoms from April 11 and May 8, the Swissy reached the 0.89486 resistance, which appears to be the neck line of another bigger double bottom formation (green) with bottoms from March 13 and May 8. The neck line got broken anyway, which infers a bullish increase, which could even push the price to the value of 0.91410. At the same time, the stochastic oscillator signalizes that the market is overbought and a decrease in the price might occur. For this reason, it is possible to see the price correcting to the 0.88618 neck line of the smaller blue double bottom formation and to test it as a support, before any upward movement.
AUDUSD:

After the Aussie created the impression that a head and shoulders formation might get confirmed, there was an interaction with the purple bullish trend line from the end of January, the price closed a dragonfly Doji candlestick and a bullish increase occurred. The price reached its previous top at 0.93787 afterwards. The top the price just formed could be lined with the 0.94580 top of the price from April 10, which creates the upper side of a symmetrical triangle. This means that the price is going to break through the triangle in bearish or in bullish direction. If the upper level of the triangle gets broken, the price would probably meet the 0.94580 resistance. If the lower level of the triangle gets broken, we might see the price testing the 0.92053 support again and we might speak again of a head and shoulders formation. We remind that the lower level of the triangle is older and many times tested, which makes it stronger than the upper level of the triangle.
XAUUSD:

After getting out of the triangle from the middle of March (red), the price is rather moving horizontally than in bullish or bearish direction. In other words, the gold is currently consolidating. The consolidation of the pair resembles a descending triangle (blue), which creation has started in the beginning of April, and it is likely to be broken through the lower level. Currently, the price is moving toward the lower level of the formation, which is horizontal and it is located at 1273.95. If the lower level of the formation gets broken, the price would most likely meet the already broken upper level of the red triangle and it would test it as a support. If the price breaks through the upper level of the formation it would have three more resistances on its way – the yellow resistance at 1307.01, which indicates the last three tops of the price, the purple 1316.29 resistance, which indicates the top of the candlewicks by the middle top and the already broken lower level of the red triangle.
Disclaimer: Data, information, and material (“content”) is provided for informational and educational purposes only. This material neither is, nor should be construed as an offer, solicitation, or recommendation to buy or sell any Forex or CFD contracts. Any investment or trading decisions made by the user through the use of such content is solely based on the users independent analysis taking into consideration your financial circumstances, investment objectives, and risk tolerance. Neither FxMars.com nor any of its content providers shall be liable for any errors or for any actions taken in reliance thereon

Posted by http://fxmars.com

EURUSD:

The price did a bullish break through the three times tested resistance at 1.38500 and it got out of the horizontal corridor it has been following for the past two
weeks. Currently, the price is following another, bullish corridor, which walked the price through the upper level of the symmetrical triangle, which lower level is
the bullish trend line from September, 2013. The current bullish movement of the price is in a convergence with the Stochastic Oscillator, which movement could also be
followed by a bullish corridor. Now, after we have the price above the upper level of the symmetrical triangle, it is likely for the price to seek new, higher tops.
For this reason, the first resistance the price would probably meet is the red line at 1.38891, which indicates the last top of the price. If the price manages to
break this level, we could seek a further interaction with the 0.00% Fibonacci level and an eventual break through this level.
USDJPY:

On the D1 chart the Yen gives some controversial signals. The first thing we notice is the double bottom formation, which bottoms lay on the pink bullish trend line
from April, 2013. Also, with crossing the 102.749 resistance (also a neck line), the price confirmed the formation, which speaks for an eventual upcoming bullish
movement. On the other hand, there is a clear bearish divergence between the price and the Stochastic Oscillator (blue lines), which contradicts to the already
confirmed double bottom formation. The last bottom from April, 28 sent the price in bullish direction, and a top was created on Friday. The controversial here is that
this is the second top from the divergence between the price and the Stochastic Oscillator. Moreover, the thick red lines on our chart indicate a triangle with a
bearish potential. If the price breaks through the upper level of this triangle, the triangle and the bearish divergence could be considered as fake and we could start
following the already confirmed double bottom formation, which has a potential to meet the price with the upper level of the symmetrical triangle from the beginning of
January and with the blue resistance from May, 2013. The other possible scenario is the bearish one. If the price breaks through the purple bullish trend from April,
2013, which is also the lower level of the bearish triangle, we would have a confirmation of the divergence and we might see the price testing the 101.317 support,
which indicates the bottoms from February 17, March 3, March 17 and April 11.
GBPUSD:

The cable is still moving in the rising wedge formation from April 10, and it even broke the 1.68355 resistance, which indicates the tops from February 12, April 10,
April 17 and April 22. In addition to the rising wedge formation, which as we all know, has bearish potential, we also have a bearish divergence between the chart of
the price and the Stochastic Oscillator (blue lines). While the price was hitting higher tops, the Stochastic Oscillator was demonstrating a slight bearish movement,
which could be the key answer to the to the question “Where is the cable going?”. If a break in the lower level of the wedge occurs, we could seek a drop at least to
the first bottom of the wedge, which is located on the green straight line at 1.66650. If this happens, this could also mean a break in the lower level of the blue
bullish corridor from the end of September 2013.
USDCHF:

After the bearish bounce from the green bearish trend line from April 8, Swissy is testing again the lower level of the symmetrical triangle from March 13. The testing
point of the price also matches with the 0.87783 support (red), which indicates the bottoms April 16, April 17, April 28 and May 1, which means that the price is
testing two levels at once. At the same time, the Stochastic Oscillator is testing the bullish line, which connects its last two bottoms. If a bullish bounce occurs,
we would probably see the price interacting again with the green bearish trend line and eventually with the upper level of the yellow symmetrical triangle. A break
through the red support and the lower level of the yellow triangle would probably bring the price to the 0.87434 support, which indicates the previous clearly stated
bottom of the price. In this case, the Stochastic Oscillator could also be used as a position trigger. If it crosses its bullish trend line in bearish direction, this
could be interpret as a short position signal. If the two lines of the Stochastic Oscillator cross above the blue bullish line, this would clearly support the bullish
scenario.
AUDUSD:

The blue bearish corridor from April 10 brought the Aussie through the purple bullish trend line from January 24, but since this trend line covers bigger time frame,
the break is not significant and it could not be said that the level is overpowered already. Furthermore, there is a bullish divergence between the chart and the
Stochastic Oscillator (green). After crossing the purple trend line, the price dropped to the interaction point of the lower level of the blue bearish corridor and the
0.92065 support, which indicates the 1-month low of the price. The followed bounce brought the price back above the purple bullish trend line. Now the price is about
to meet the upper level of the blue bearish corridor. Having in mind that the price has already reached the big bullish trend line, it could be said that the chances
for a break in the upper level of the blue corridor are bigger and the bullish divergence between the chart and the Stochastic confirms this scenario. If this happens,
the next resistance to be met is the red line at 0.93778.
XAUUSD:

After breaking the symmetrical triangle from March 17 in bearish direction, it could be said that the price is demonstrating an attempt for a change in the trend from
January 8, which is also the lower level of the already broken triangle. On the H4 chart we notice that the gold has already transformed the lower level of the
triangle from a support into a potential resistance. At the same time, the 1306.94 resistance is also a neck line of a potential double bottom formation, which was
created after the break in the triangle on April 24, which makes the two events incompatible. The break in the big bullish trend line is a more significant event than
the potential double bottom formation, which makes the formation not very likely to occur. Furthermore, there is a bearish divergence between the graph of the price
and the Stochastic Oscillator, which supports the change in the trend. At the same time, the Stochastic has just interacted with the 80 level and the two lines are
just crossing, which is another sign for an upcoming bearish activity. If the price bounces from the yellow 1306.94 resistance, the next significant support to be met
is the line 1268.57 line, which indicates the previous big bottom of the price.
Disclaimer: Data, information, and material (“content”) is provided for informational and educational purposes only. This material neither is, nor should be construed as an offer, solicitation, or recommendation to buy or sell any Forex or CFD contracts. Any investment or trading decisions made by the user through the use of such content is solely based on the users independent analysis taking into consideration your financial circumstances, investment objectives, and risk tolerance. Neither FxMars.com nor any of its content providers shall be liable for any errors or for any actions taken in reliance thereon