Monday, July 22, 2019
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Technical Analysis – GBP/CAD tumbles from congested areas

GBP/CAD tumbles from congested areas; buyers try to gain some control. GBP/CAD slipped aggressively from the May 6 top of 1.7727, breaking through the congested support lines formed during the August 2018-March 2019 up-leg, with buyers only seeming to make progress installing this down push yesterday. The short-term simple moving averages (SMAs) of

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Technical Analysis – GBP/JPY shows signs of a fading descending move

GBP/JPY shows signs of a fading descending move; indicators increase. GBP/JPY is still facing signs of a fading descending move as the RSI and the MACD keep moving higher, posting a positive divergence at a time when the price seems to be edging lower in the daily timeframe. Currently, the pair is finding strong resistance at the red

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Technical Analysis – NZD/USD violates the double bottom pattern

NZD/USD violates the double bottom pattern; bulls back into play. NZD/USD successfully surpassed the long-term 200-day simple moving average (SMA), gaining some ground and is holding near the three-month high of 0.6745 that it posted on Wednesday. The double bottom formation that was created around the 0.6480 – 0.6490 support levels with a neckline at

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