News

Technical Analysis – Palladium futures test floor of sideways market

Posted on June 26, 2020 at 5:10 am GMT

Palladium futures have consolidated below the 1,853 level, that being the 50.0% Fibonacci retracement of the up leg from 1,353 to 2,354, after yesterday challenging the bottom of a one-month trading range. The latest negative push within the range has some backing from the bearish overlaps of the mostly horizontal 200-period simple moving average (SMA) by the downward sloping 50- and 100-period ones. Nevertheless, the negative bearing within the short-term oscillators has paused and thus a bounce from the foundation [..]

Technical Analysis – UK 100 index rebounds on 50-day SMA; bullish mode intact

Posted on June 25, 2020 at 1:50 pm GMT

The UK 100 index (Cash) is pausing its downside movement around the 50-day simple moving average (SMA) shifting the very short-term picture to the downside. According to the momentum indicators, the MACD is moving beneath its trigger line, marginally above the zero level, while the RSI dropped into the negative zone and is pointing south. A clear move below the 50-day SMA could send prices towards the 38.2% Fibonacci retracement level of the downward wave from 7,690 to 4,860 at 5,931. Further weakening could drive the market to 5,655, losing some [..]

Technical Analysis – USDCHF pushes higher, though downside risks remain

Posted on June 25, 2020 at 1:30 pm GMT

USDCHF climbed above the 50-period simple moving average (SMA) in attempts to boost positive momentum in an already prevailing negative structure. The falling 100- and 200-period SMAs support the negative picture while the 50-period SMA suggests the pair may drag on to challenge the short-term descending line drawn from May 27. The short-term oscillators reflect conflicting signals of directional momentum. The MACD has moved above its red signal line in the negative region and up to the zero mark, while [..]

Emerging from lockdown: A V-Shaped recovery or false optimism? – Special Report

Posted on June 25, 2020 at 11:16 am GMT

Looking at how risk assets have been performing over the past three months, it’s hard to tell there’s a global pandemic going on. To put it into more context, if someone had been living on a desert island during this time, they would be forgiven for thinking that the world is in the midst of an economic boom when glancing at stock markets. But although there’s been no shortage of crisis response measures since the coronavirus outbreak erupted, how rational [..]

Daily Market Comment – Markets lose altitude as virus fears escalate

Posted on June 25, 2020 at 10:59 am GMT

Reality bites stock markets as US virus spike accelerates, dollar recovers Threats of new US tariffs against EU and dire IMF forecasts not helping mood Fed balance sheet reduction may be playing a role too Daily virus numbers will continue to dictate sentiment Acceleration in infections hampers recovery prospects Risk aversion gripped global markets once again on Wednesday after several American states reported another worrisome spike in virus cases and hospitalizations, pouring cold water on the cheerful narrative of a [..]

Technical Analysis – EURJPY pauses its buying interest above descending line

Posted on June 25, 2020 at 10:43 am GMT

EURJPY is holding above the descending trend line that started from June 5 and is approaching the Ichimoku cloud, remaining in a sideways move. The RSI holds in line with the 50 neutral mark but is currently trying to slip in the negative region, while the stochastic oscillator posted a bearish crossover within its %K and %D lines. Currently, the pair is trading near the lower surface of the Ichimoku cloud and within the 20- and 40-period simple moving averages (SMAs). So, any gains would [..]

Technical Analysis – WTI futures pause ascent ahead of key resistance

Posted on June 25, 2020 at 9:03 am GMT

WTI oil futures faded prior to reaching a critical resistance level at 43.69 and appear to be reloading for a push higher to revisit this mark. The recent weakening in the price is mirrored in the flattening of the Ichimoku lines and within the short-term oscillators. However, the near completion of a bullish crossover of the 100-day simple moving average (SMA) by the soaring 50-day one could boost positive sentiment and refuel the unbroken positive tone in the Ichimoku lines. [..]

Technical Analysis – EURUSD poised for more downside if the trendline gives way

Posted on June 25, 2020 at 8:49 am GMT

EURUSD has been charting lower lows and lower highs after peaking at 1.1421 and near a long-term ascending trendline stretched from the 2019 bottom, signaling that the recent bearish wave in the four-hour chart may continue. The weakening RSI, which has crossed below its 50 neutral mark, and the fact that the price has slipped below the middle Bollinger band (20-period simple moving average), is also endorsing the negative view. Yet, whether the bears can dominate may depend on the [..]

Technical Analysis – WTI futures’ ascent reloads ahead of key resistance

Posted on June 25, 2020 at 8:24 am GMT

Technical Analysis – AUDUSD retests 20-day SMA, holding in upward sloping channel

Posted on June 25, 2020 at 7:45 am GMT

AUDUSD has been advancing over the last three months, peaking near the almost one-year high of 0.7067. The bullish rally extended its move above the simple moving averages (SMAs). However, the RSI in the positive region is flattening and the MACD is losing momentum below its trigger line but it remains in the bullish zone. Moreover, the red Tenkan-sen line stands above the blue Kijun-sen line suggesting a continuation of the upside move. Note, that the indicators are in a contradiction [..]

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