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Technical Analysis – USDJPY stabilizes near 20-day SMA; medium-term trend is down

Posted on October 14, 2020 at 7:36 am GMT

USDJPY stabilized within the 105.00 area and around the 20-day simple moving average (SMA) following the rejection of the 106.10 level and the upper Bollinger band earlier this week. The momentum indicators are directionless, suggesting a neutral short-term bias as the RSI is hovering around its 50 level and the MACD is squeezed between its zero and signal lines. Nevertheless, a step below the middle Bollinger band (105.20), which is also the 20-day SMA, may generate additional losses towards the lower Bollinger [..]

Technical Analysis – NZDUSD finds strong resistance at 0.6670; neutral bias

Posted on October 14, 2020 at 6:24 am GMT

NZDUSD has been in a horizontal trajectory over the last three weeks within the 0.6520 and 0.6670 barriers. Currently, the pair is holding above the 20- and 40-day simple moving averages (SMAs) after they posted a bearish crossover in the short-term. The RSI indicator is sloping slightly up near the neutral threshold of 50, however, the stochastic oscillator is looking overbought as it is ready to create a negative cross within the %K and %D lines. If the price manages [..]

Earnings season kicks off with big US banks – Stock Market News

Posted on October 13, 2020 at 3:21 pm GMT

The third-quarter earnings season is finally here, with a horde of major US banks releasing their results this week. Bank of America, Goldman Sachs, and Wells Fargo will all report on Wednesday before Wall Street’s opening bell, and their numbers will give us a sense of not just how the financial sector is doing, but also how the US consumer is faring. Overall, a lot of gloom has been priced into the banking industry, which in some cases may present [..]

Australian unemployment data to shed light on recovery – Forex News Preview

Posted on October 13, 2020 at 2:25 pm GMT

September’s employment report for Australia is likely to catch investors’ eyes on Thursday at 0030 GMT as the Australian economy is in recession as a result of the Covid-19 pandemic – its first recession in almost 30 years. Stronger figures in employment may provide some relief to the domestic currency, helping it to surpass the two-year high. Unemployment figure predicted to slow down In the previous release, the unemployment rate unexpectedly fell to 6.8% in August from a near 22-year high of 7.5% [..]

Daily Market Comment – Stocks and currencies tell a conflicting story

Posted on October 13, 2020 at 12:12 pm GMT

Equities cruise higher, back within breathing distance of record highs But FX doesn’t play ball – yen climbs, commodity currencies underperform Euro headed for trouble amid high infections and growth worries Today: US inflation data coming up, earnings season resumes Currencies don’t play along with stock rally The US stock market rallied furiously on Monday, with the tech-heavy Nasdaq 100 gaining 3.1% to come within breathing distance of its recent record highs, propelled higher by the likes of Apple (+6.4%) [..]

Technical Analysis – USDCAD recedes below 200-MA; negative signals pressurize

Posted on October 13, 2020 at 7:56 am GMT

USDCAD is currently at a standstill near the red Tenkan-sen line after its retreat under the Ichimoku cloud and simple moving averages (SMAs). The subsiding 50-period SMA and the intact negative demeanour of the Ichimoku lines are endorsing a deteriorating picture. That said the horizontal 100- and 200-period SMAs favour a more neutral tone. Nonetheless, the flattened blue Kijun-sen line and the short-term oscillators propose slight improvements in momentum. The MACD, deep below zero, is strengthening above its red trigger [..]

Technical Analysis – EURJPY loses some momentum above 23.6% Fibo

Posted on October 13, 2020 at 6:39 am GMT

EURJPY has come under renewed selling interest, falling back below the 40-day simple moving average (SMA) and near the 23.6% Fibonacci retracement level of the up leg from 114.40 to 127.07 at 124.06. In technical indicators, the MACD is gaining some ground above its trigger line, but it is still standing marginally below the zero level. The RSI indicator is pointing down in the positive territory, suggesting a downside pullback in the price. However, if the price remains above the 23.6% Fibonacci, it could [..]

Technical Analysis – GBPUSD tests key resistance for fresh bullish momentum

Posted on October 13, 2020 at 6:14 am GMT

GBPUSD is testing the 1.3000-1.3080 area, where a broken long-term descending trendline stretched from the 2015 highs happens to be, following the strong rebound at the bottom of the ascending channel and near the 200-day simple moving average (SMA). The pair is also making an attempt to extend beyond its 50-day SMA as the RSI and the MACD are flashing a bullish bias, with the former running above its 50 neutral mark and the latter improving above its signal and zero lines. For the [..]

Daily Market Comment – Art of the Deal sends equities higher, torpedoes dollar

Posted on October 12, 2020 at 11:38 am GMT

White House bumps stimulus offer to $1.8 trillion, stock market cheers Kudlow hints this offer could be raised further, keeping optimism alive Dollar slides amid renewed deficit concerns, gold capitalizes ECB chief economist prepares the ground for more easing Markets cheerful as stimulus negotiations resume In an epic reversal after pulling out of the stimulus talks last week, Donald Trump came back to the negotiating table on Friday with a counteroffer of $1.8 trillion, sparking hopes that a deal is [..]

Technical Analysis – AUDUSD’s progress suppressed by 200-MA

Posted on October 12, 2020 at 10:27 am GMT

AUDUSD appears muted by the 200-period simple moving average (SMA) after having shot upwards from the 0.7094 level, above the Ichimoku cloud and the SMAs. The stalled blue Kijun-sen line at 0.7168 and the short-term oscillators back a weakening picture, while the rising red Tenkan-sen line and the 50-period SMA’s recent bullish crossover of the 100-period SMA endorse strength in the pair. The MACD, in the positive region, is flattening above its red trigger line reflecting a slight drawback in [..]

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