News

Technical Analysis – AUDUSD hovers around 8-month high

Posted on August 27, 2020 at 6:48 am GMT

AUDUSD has been advancing since March 19 but over the last month, it has been moving sideways below the eight-month peak of 0.7275 achieved on August 19. Currently, the pair is developing slightly above the short-term simple moving averages (SMAs) and the stochastic is approaching the overbought territory, however, the MACD is confirming the recent neutral mode and is losing momentum in the positive zone. If there is an attempt above the eight-month peak, immediate resistance would come from the [..]

Technical Analysis – EURGBP tumbles below SMAs; indicators are negative

Posted on August 26, 2020 at 1:17 pm GMT

EURGBP has been in a declining movement over the last sessions, remaining well below the Ichimoku cloud and the short-term simple moving averages (SMAs). Furthermore, the RSI is heading south in the bearish territory, while the stochastic is moving lower in the oversold zone. If prices continue to head lower, support should come from the 0.8943 support, taken from the latest lows, before touching the 0.8865 barrier, registered on June 5. However, should an upside reversal take form, immediate resistance [..]

Technical Analysis – GBPJPY remains consolidated; positive momentum feeble

Posted on August 26, 2020 at 11:40 am GMT

GBPJPY seems to be range bound, something also reflected in the flattening out of the slopes of the 50- and 100-period simple moving averages (SMAs). 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 positive picture. The MACD, in the positive region, is holding above its red signal line, while the RSI hovers in bullish territory. Noteworthy is the intact bullish bearing of the SMAs. [..]

Daily Market Comment – Dollar edges up, stocks struggle after yields spike higher

Posted on August 26, 2020 at 8:52 am GMT

Market mood turns cautious amid mixed signs on the global economy Bond yields extend gains as inflation expectations rise But big drop in US consumer confidence casts doubt on recovery Stocks softer, dollar crawls higher ahead of Jackson Hole Yields creep higher: sign of economic health or trouble? Risk appetite appeared to falter on Wednesday as higher long-term borrowing costs weighed on equities, while unexpected weakness in US consumer confidence supported the safe-haven dollar and yen in currency markets. Stocks [..]

Technical Analysis – Gold lacks clear direction after meeting all-time high

Posted on August 26, 2020 at 8:33 am GMT

Gold prices have been in a declining direction after strong rally towards the all-time peak of 2,074.89, but they found strong support at the 1,911 barrier over the last two weeks. The price is trading below the simple moving averages (SMAs) and the Ichimoku in the 4-hour chart. Furthermore, the RSI is heading south in the bearish territory, however, the MACD is moving horizontally below the zero line. A strong push below the 1,911 support would drive the bears towards [..]

Technical Analysis – NZDUSD retraces under 50-day SMA; positive signals intact

Posted on August 26, 2020 at 8:25 am GMT

NZDUSD has faded below the 50-day simple moving average (SMA) from a fresh seven-month high of 0.6714, somewhat stalling the bullish picture. However, the strengthening 50- and 100-day SMAs coupled with a forthcoming bullish crossover of the 200-day SMA by the 100-day one, may rapidly guide the pair higher again. The short-term oscillators are transmitting mixed signals of momentum at the moment. The MACD and its red signal line are currently flirting with the neutral mark. On the other hand, [..]

Technical Analysis – USDJPY ticks up but still in descending move

Posted on August 26, 2020 at 7:00 am GMT

USDJPY has been ticking higher over the last couple of days, though in the five-month picture it is still in a descending movement. Currently, the price is flirting with the 40-day simple moving average (SMA), while the RSI is hovering around its 50 level. Also, the MACD is moving higher in the negative territory, indicating an upside retracement in the short-term. If the price jumps above the 40-day SMA, immediate resistance could come from the 38.2% Fibonacci of the down leg from 111.70 to 104.15 at 107.07. Clearing [..]

Jackson Hole: Will Powell signal move to average inflation targeting? – Forex News Preview

Posted on August 25, 2020 at 4:35 pm GMT

Speculation is mounting that Fed chief Jerome Powell will use the annual Jackson Hole conference of central bankers to announce a revamp of how monetary policy is set. The speech, scheduled for the first day of the economic symposium on Thursday at 13:10 GMT, could outline a shift by the Federal Reserve towards average inflation targeting. Powell’s potentially historic address will likely overshadow this week’s economic releases out of the United States. The July numbers for durable goods orders, and [..]

Technical Analysis – CADJPY remains above 200-day SMA; positive signals strengthen

Posted on August 25, 2020 at 3:14 pm GMT

CADJPY recently found some footing on the 200-day simple moving average (SMA), shifting the momentum to the upside. Aiding an appreciation in the pair are the bullish 50- and 100-day SMAs and the short-term oscillators. The MACD, in the positive region, has poked above the red trigger line while the RSI is increasing in the bullish section. Additionally, the stochastic oscillator is strengthening its positive tone endorsing further advances. To the upside, clearing the 80.55 level, which is the 61.8% [..]

Technical Analysis – EURCHF underperforms below 200-SMA; neutral bias

Posted on August 25, 2020 at 1:00 pm GMT

EURCHF has been underperforming, breaking back below the key 200-period simple moving average (SMA) in the 4-hour chart. When looking at the bigger picture the pair lacks a clear trend and has been consolidating since July 14. Prices pulled back from the 1.0775 resistance level, which overlaps with the 40-period simple moving average (SMA) but based on technical indicators, momentum is too weak to provide a sustained move higher. The RSI is below 50 and the MACD is trying to [..]

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