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Technical Analysis – EURJPY decreases but the outlook is strongly bullish

Posted on August 18, 2020 at 7:11 am GMT

EURJPY completed two consecutive negative days after it challenged a fresh 16-month high of 126.74 in the previous week. The steep upside movement is still in place and it has been holding since May 6, when it pulled back from the 114.40 support level. From the technical viewpoint, the price is remaining above the simple moving averages (SMAs) in the daily timeframe, however, the momentum indicators are reflecting the recent downside move. The MACD is losing ground beneath its trigger [..]

Technical Analysis – AUDUSD exhibits slowing ascent; positive risks persist

Posted on August 17, 2020 at 1:22 pm GMT

AUDUSD appears to have secured its positive bearing for now, as the price nudged back above the simple moving averages (SMAs) and the Ichimoku cloud. Once again, the price resisted negative pressures and now stands on top of the 50-period SMA at the cloud’s upper surface at 0.7177. Yet, the recently directionless Ichimoku lines sponsor a restrained mode within the pair. Nonetheless, the short-term oscillators reflect some improvement in positive momentum. The MACD has advanced above its red trigger line [..]

Technical Analysis – AUDUSD exhibits slowing in ascent, positive risks persist

Posted on August 17, 2020 at 12:51 pm GMT

AUDUSD appears to have secured its positive bearing for now, as the price nudged back above the simple moving averages (SMAs) and the Ichimoku cloud. Once again, the price resisted negative pressures and now stands on top of the 50-period SMA at the cloud’s upper surface at 0.7177. Yet, the recently unclear Ichimoku lines sponsor a restrained mode within the pair. Nonetheless, the short-term oscillators reflect some improvement in positive momentum. The MACD has advanced above its red trigger line [..]

Technical Analysis – USDJPY edges lower; indicators turn lower

Posted on August 17, 2020 at 12:22 pm GMT

USDJPY is edging lower over the last couple of sessions, finding strong resistance at the 106.65 barrier and the mid-level of the Bollinger band. The price is flirting with the lower Bollinger band and the 40-period simple moving average (SMA) in the 4-hour chart, while the technical indicators are returning down. The RSI is heading to the downside below the 50 level and the stochastic is posting a bearish crossover within its %K and %D lines in the short-term. Should [..]

Technical Analysis – EURUSD gaining ground, bullish backing improves

Posted on August 17, 2020 at 8:16 am GMT

EURUSD has regained positive momentum, bouncing near the 1.1695 low where the price solidified the start of the recent progress that is heading towards the 26½-month high of 1.1915. Further aiding this move is the slight advancement of the already bullish Ichimoku lines and the recovery in the short-term oscillators. The MACD, although below its red trigger line deep in the positive region, looks to reclaim it, while the RSI is attempting to penetrate above the 70 mark. Moreover, the [..]

Technical Analysis – EURUSD resumes ascent, bullish backing improves

Posted on August 17, 2020 at 7:58 am GMT

EURUSD has regained positive momentum bouncing near the 1.1695 low, where the price solidified the start of the recent progress that is heading towards the 26½-month high of 1.1915. Further aiding this move is the slight advancement of the already bullish Ichimoku lines and the recovery in the short-term oscillators. The MACD, although below its red trigger line deep in the positive region, looks to reclaim it, while the RSI is attempting to penetrate above the 70 mark. Moreover, the [..]

Technical Analysis – Gold recoups some losses after rebound on 1,860

Posted on August 17, 2020 at 7:42 am GMT

Gold prices are returning slightly higher after the aggressive selling interest from the all-time high of 2,074.89 achieved on August 7. The price found immediate resistance at the 20-day simple moving average (SMA), while the technical indicators seem to be mixed. The MACD oscillator is falling well below the trigger line, though the RSI is pointing marginally up near the neutral threshold of 50. If the price recoups some of the losses and jumps above the flat red Tenkan-sen line, [..]

Technical Analysis – CHI 50 index consolidates above SMAs, endures negative pressures

Posted on August 14, 2020 at 12:47 pm GMT

China A50 index (Cash) is floating sideways towards the Ichimoku cloud, following a pullback from the 16,404 top, which has kept positive momentum at bay. Nevertheless, the positively charged 50- and 100-day simple moving averages (SMAs) and their bullish crossovers with the 200-day SMA could maintain the broader positive picture intact for a while longer. That said, the MACD is holding in the positive region, trailing below the red trigger line, while the RSI is trying to pick up off [..]

Japan to escape GDP crash in Q2 but virus spike clouds outlook – Forex News Preview

Posted on August 14, 2020 at 12:21 pm GMT

Japan looks set to enjoy a rare feat of being at the top of the G10 growth league in the second quarter when it reports its GDP estimate on Monday (Sunday, 23:50 GMT). But the achievement will hardly be celebratory as Japan had already entered recession in Q1. Moreover, despite having initial success in containing the coronavirus outbreak, the country is now facing a second wave of infections that dwarfs the first one. Nonetheless, the data is not expected to [..]

Week Ahead – Vaccine hopes torment yen, all eyes on Congress

Posted on August 14, 2020 at 11:48 am GMT

It’s a relatively quiet week, with the main highlights being the Eurozone’s PMIs and the latest FOMC minutes. In the political arena, American and Chinese negotiators will meet over the weekend to review the ‘phase one’ trade deal. For markets though, the most crucial drivers will be whether US lawmakers can break the deadlock in the stimulus negotiations, and whether enthusiasm around a vaccine will keep pushing global yields higher, crushing the yen. Will markets have to scream first, before [..]

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