200-day moving average

Technical Analysis – AUDUSD neutral between 50 and 200-day moving averages

Posted on September 20, 2016 at 7:41 am GMT

The big decline that took place from the 0.7700 area down below the 0.7500 level this month has ended with AUDUSD bouncing back up and now finding support at the 200-day moving average at 0.7475. With RSI rising, upside momentum could increase if it breaks above 50, giving scope for the market to extend gains. However, there is resistance at the 50-day moving average at 0.7580 which would likely be strong enough to cap any further advance. AUDUSD is expected [..]

Technical Analysis – EURUSD struggling to hold onto 1.10 on increased downside bias

Posted on July 20, 2016 at 9:21 am GMT

EURUSD faces increased downside bias as it slipped below the key support area of 1.1010-1.1020 yesterday. Prices are struggling to hold on to the 1.10 level today and the next support levels to watch out for are 1.0970 and 1.0940. With RSI trending downwards in negative territory, further losses are possible. Failure to hold above these support levels would take the pair closer to the June 24 low of 1.0910, strengthening the bearish near-term bias further. On the upside, the [..]

Technical Analysis – GBPUSD capped by 200-DMA; bias still positive

Posted on June 22, 2016 at 10:22 am GMT

GBPUSD has been capped by the 200-day moving average and has been hovering around it since Monday following the 5% rally from last Thursday’s low of 1.4012. The pair has consistently met resistance at the 61.8% Fibonacci retracement level from the December to February downleg from 1.5239 to 1.3835. The positive momentum generated by the rally is holding, with RSI comfortably above 50 and the MACD histogram rising above 0. However, prices have consistently struggled to rise significantly above the [..]

Technical Analysis – NZDJPY breaks above channel and cloud top

Posted on June 9, 2016 at 1:31 pm GMT

NZDJPY jumped to a 6-week high of 76.28 earlier today, breaking above the Ichimoku cloud for the first time since April. Today’s sharp rally also pushed prices above the top of the upward trending regression channel that prices have been trading in for most of June. RSI is rising and has yet to reach overbought levels so there is scope for further gains in the near term. The MACD histogram turned positive after today’s gains, further supporting the strengthening bullish [..]

Technical Analysis – EURGBP looking increasingly bearish as it tests 0.76

Posted on May 25, 2016 at 9:41 am GMT

EURGBP hit a near 4-month low of 0.7601 earlier today as momentum turns increasingly bearish for the pair. RSI has recovered slightly after hitting oversold level but the MACD chart points to further downwards pressure to come for EURGBP in the near term. Prices have retraced about 44% of the November-April upleg from 0.6982 to 0.8116 and further downside moves would take the pair towards the 50% Fibonacci level at 0.7550. A break below this level would threaten the longer-term [..]

Technical Analysis – US 500 index futures turn neutral, move into cloud

Posted on May 23, 2016 at 1:50 pm GMT

The US 500 stock index futures has been losing momentum since the February-April rally came to a halt in late April. The index has been moving towards the ascending Ichimoku cloud in the past few days, with the 50-day moving average acting as a resistance since prices slipped below it, while the top of the cloud has been providing support. The near-term bias is neutral as RSI is flat just below 50 and the MACD signal line is levelling off [..]

Technical Analysis – GBPAUD rally stalls below 1.98 but bias remains positive

Posted on May 12, 2016 at 10:46 am GMT

GBPAUD has made impressive gains of almost 8% in the past three weeks with the rally coming to a pause at 1.9736 on Tuesday. The pair has retraced around 33.5% of the long-term downtrend that started in August 2015 and almost 61.8% of the latest downleg from 2.0662 to 1.8292. The 61.8% Fibonacci retracement level is acting as a resistance level around 1.9750. Momentum indicators such as the RSI and the MACD remain strongly bullish so further gains are possible [..]

Technical Analysis – US oil futures in first bullish crossover since 2014

Posted on May 11, 2016 at 1:32 pm GMT

US oil futures have held on to their recent gains amid ongoing daily price volatility in the commodity. Prices touched a 6-month high of 46.76 on April 29 and have been trading above the 43 level since. The recent gains have driven the 50-day moving average above the 200-day moving average for the first bullish crossover in the daily chart since April 2014. Both the RSI and the MACD remain in positive territory above 50, indicating there is scope for [..]

Technical Analysis – German 30 stock index futures neutral around 50-DMA

Posted on May 10, 2016 at 1:30 pm GMT

The German 30 stock index futures has seen a shift in bias from positive to neutral over the past two weeks as prices have dropped from above the 200-day moving average to around the 50-day moving average. The index has rebounded somewhat from Friday’s lows but prices were capped today by the 38.2% Fibonacci retracement level of the April 2015 to the February 2016 downleg from 12404 to 8695.50. The current upward momentum already appears to be waning with the [..]

Technical Analysis – EURAUD approaches 200-DMA on strong upside momentum

Posted on May 3, 2016 at 7:15 am GMT

EURAUD has seen a strong rally over the past week and this has taken prices above the 50-day moving average and towards the 200-day moving average. The near-term bias is bullish with RSI sharply above 50 and the MACD histogram turning positive. However, with RSI fast approaching overbought territory, there may be limited scope for further strong gains. In the medium term, EURAUD remains within its 8-month range and the neutral outlook is supported by prices moving into the Ichimoku [..]

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