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Technical Analysis – USDCHF range bound; directional momentum lost

Posted on November 12, 2020 at 4:19 pm GMT

USDCHF is currently stuck between the 50- and 100-day simple moving averages (SMAs) after paring last week’s losses, which pushed the price towards a fresh 69-month low of 0.8981. The price’s consolidating demeanour is endorsed by the flattening 50-day SMA, while the downward sloping 100- and 200-day SMAs are commanding a bearish bias. The short-term oscillators reflect weak sentiment despite the latest improvement in price. The MACD, marginally above its red signal line, has merely popped over the zero threshold, [..]

Japanese preliminary Q3 GDP may raise fresh concerns about recovery – Forex News Preview

Posted on November 12, 2020 at 3:50 pm GMT

Japanese GDP preliminary numbers for Q3 2020 are coming up during the early Asian session on Sunday at 23:50 GMT. Japan’s economy likely rebounded in the third quarter as global demand picked up, but the effects of the Covid-19 crisis persisted, and it could take some time for output to return to pre-pandemic levels. Despite this week’s slide, the Japanese yen has been rising over the last seven months against the US dollar, while stronger figures may drive the market even higher. An expansion is predicted after the record shrink The Japanese gross domestic product [..]

Technical Analysis – USDCHF range bound; directing momentum lost

Posted on November 12, 2020 at 3:44 pm GMT

USDCHF is currently stuck between the 50- and 100-day simple moving averages (SMAs) after paring last week’s losses, which declined the price towards a fresh 69-month low of 0.8981. The price’s consolidating demeanour is endorsed by the flattening 50-day SMA, while the downward sloping 100- and 200-day SMAs are commanding a bearish bias. The short-term oscillators reflect weak sentiment despite the latest improvement in price. The MACD, marginally above its red signal line, has merely popped over the zero threshold, [..]

Vaccine spells trouble for Big Tech but old economy stocks surge – Special Report

Posted on November 12, 2020 at 12:57 pm GMT

Stocks around the world skyrocketed on news this week that the Covid-19 vaccine being developed by Pfizer and BioNTech is more than 90% effective in protecting against the virus. That’s a very impressive number when considering that it’s much higher than the most optimistic expectations and even more so when comparing it to flu vaccines, whose effectiveness is thought to be a lot lower at between 40-60%. Hence, it would be fair to say that the euphoria in the markets [..]

Daily Market Comment – Vaccine euphoria runs out of steam, Fed chief speaks

Posted on November 12, 2020 at 12:42 pm GMT

Markets in a cautious mood as lockdown reality eclipses vaccine hype Stocks pull back, dollar climbs, but moves rather small in size Main event today: Discussion panel featuring Fed, ECB, and BoE chiefs ECB sticking to its guns about more stimulus, will Fed follow suit? Back to reality for markets A sense of caution has crept back into global markets on Thursday as investors grapple with the short-term covid reality on the ground, which has reined in the enthusiasm around [..]

Technical Analysis – WTI futures consolidate; resistance ceiling dominates

Posted on November 12, 2020 at 9:00 am GMT

WTI oil futures appear to have returned to the vicinity of the controlling resistance levels of 43.69 and 43.76, which have together been suppressing advances for 4 months now. The commodity’s return above the simple moving averages (SMAs), from the 33.63 low, deflected off the upper Bollinger band at 43.04, just shy of the curbing level. The short-term oscillators are tilting ever so slightly towards the positive picture. The MACD above its red trigger line has narrowly pierced above its [..]

Technical Analysis – AUDUSD hovers above 0.7250; lacks direction in short term

Posted on November 12, 2020 at 8:32 am GMT

AUDUSD seems to be range bound, something also reflected in the flattening out of the slopes of the 20- and 40-day simple moving averages (SMAs), though, the price climbed above 0.7250 in the previous daily sessions. The directionless Ichimoku lines and the steadied cloud further reflect this view. That said, the short-term oscillators, although somewhat stalled, still lean towards a slightly positive picture. The MACD, in the positive region, is holding above its trigger line, while the RSI hovers in bullish territory. [..]

Technical Analysis – UK 100 index bulls get a wake-up call; positive but overbought

Posted on November 11, 2020 at 4:41 pm GMT

The UK 100 stock index (cash) flew above the 200-day simple moving average (SMA) for the first time since February and closer to June’s high of 6,513, recording its second notable weekly gain and its biggest monthly increase in several years. The market is in overbought territory according to the RSI and the Stochastics, though the indicators have yet to set a downward shift, hinting that there is still some bullish steam in store. If that is the case, the [..]

Technical Analysis – GBPJPY recedes below 140.00; positive picture unbroken

Posted on November 11, 2020 at 3:29 pm GMT

GBPJPY is pulling back slightly from a two-month high of 140.28, following its latest surge upwards off the 136.00 mark. The rising simple moving averages (SMAs) and the recently completed bullish crossover by the 50-period SMA may reinforce the stalling ascent. Moreover, the strong positive tone of the climbing Ichimoku lines is further aiding this view. At the moment the short-term oscillators reflect some fading in positive momentum, suggesting a retracement may unfold before the climb resumes. The MACD, which [..]

Technical Analysis – NZDUSD advances past critical 0.6800 mark; picture bullish

Posted on November 11, 2020 at 11:13 am GMT

NZDUSD’s newfound strength off the 100-day simple moving average (SMA) has prodded the pair above the tough 0.6800 boundary, resulting in a 19½-month high of 0.6903 being realized. The gradual incline of the 100-day SMA and the upturn in the 200-day SMA, in addition to the bullish tone of the Ichimoku lines, endorse further advances. The short-term oscillators currently reflect intact positive momentum. The MACD is increasing above its red trigger line in the positive area, while the RSI is [..]

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