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Technical Analysis – USDSEK aiming to continue bullish run

Posted on February 18, 2020 at 4:26 pm GMT

USDSEK’s appreciation in price appears to be here to stay as it is currently tackling the 9.763 resistance from November 13. Further enhancing the price above the simple moving averages (SMAs) and the Ichimoku cloud, are the rising Tenkan-sen and Kijun-sen lines, which reflect the increase in positive momentum. The MACD, in the positive region, has moved back above its red trigger line, while the increasing RSI, has just climbed into the overbought territory. Worth mentioning, is the recent bullish [..]

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Technical Analysis – USDSEK aiming to continue bullish run

Posted on February 18, 2020 at 4:08 pm GMT

USDSEK’s appreciation in price appears to be here to stay as it is currently tackling the 9.763 resistance from November 13. Further enhancing the price above the simple moving averages (SMAs) and the Ichimoku cloud, are the rising Tenkan-sen and Kijun-sen lines, which reflect the increase in positive momentum. The MACD, in the positive region, has moved back above its red trigger line, while the increasing RSI, has just climbed into the overbought territory. Worth mentioning, is the recent bullish [..]

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Technical Analysis – USDNOK finds the tools to overrun 18-year peak

Posted on February 18, 2020 at 2:05 pm GMT

USDNOK appears to have gained confidence and is currently pushing above the 18-year high of 9.3036. The current up move seems to be maintained by the upward sloping Ichimoku lines and the distancing of the red Tenkan-sen line above the blue Kijun-sen one. The short-term oscillators also suggest a pickup in positive momentum. The MACD, deep in the positive region, is barely below its red trigger line but looks to return above it, while the rising RSI has reclaimed the [..]

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Technical Analysis – EURNZD increases within Ichimoku cloud; broader picture is negative

Posted on February 18, 2020 at 1:19 pm GMT

EURNZD has gained little today but it managed to hold within the Ichimoku cloud and the 20- and 40-day simple moving averages (SMAs), with the technical indicators feeding prospects for a possible upside move. The RSI indicator is sloping upwards and is approaching the bullish zone, while the stochastic continues to strengthen after the bullish cross within the %K and %D lines. If the 20-day SMA at 1.6915 proves easy to get through, the spotlight will turn to the 38.2% [..]

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Technical Analysis – GBPUSD retreats below 1.3000 and short-term SMAs

Posted on February 18, 2020 at 7:22 am GMT

GBPUSD is losing momentum below 1.3000, within a range that has been holding since the jump to a 14-month high of 1.3515 on December 13. Currently, the cable is developing beneath the 20- and 40-day simple moving averages (SMAs) confirming the weakening move in the market. The RSI indicator is marginally below the 50 level, while the MACD, having posted a bullish cross with its trigger line, keeps fluctuating in the bearish territory. More downside pressure could drive the pair towards the immediate support of 1.2960 and the [..]

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Technical Analysis – AUDCAD approaches lower levels of multi-month range

Posted on February 17, 2020 at 3:46 pm GMT

AUDCAD is pushing under the 0.8900 handle, after holding below the downtrend line and being capped by the 50- and 100-day simple moving averages (SMAs). The pair appears to be heading for a revisit of the more than 9-year low of 0.8834 – this being the lower boundary of a six-month trading range. The short-term oscillators seem to agree with the negative outlook. The MACD, although above its red trigger line in the negative region, is looking to move back [..]

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Technical Analysis – USDCHF shows improvement in Ichimoku cloud; stands near 2-month high

Posted on February 17, 2020 at 10:42 am GMT

USDCHF finally climbed above the strong support of 0.9760 that had been capping upside moves since late December and questions are rising now about whether the market can sustain the break in the coming sessions.   The positive cross in the 20- and 40-day simple moving averages (SMAs) drove the market within the Ichimoku cloud, while the MACD oscillator is painting a rosy picture for the short-term timeframe as it runs comfortably above the trigger line. Also, the RSI indicator [..]

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Technical Analysis – EURUSD cautiously bearish; forms inverted hammer

Posted on February 17, 2020 at 9:43 am GMT

EURUSD appears to have slowed slightly – with the development of an inverted hammer pattern – ahead of the April 2017 gap of 1.0820 – 1.0777 following a descent, which deflected off the 50-day simple moving average (SMA) around 1.1095. The short-term oscillators, although still negative, are showing a marginal increase in positive momentum. The MACD is deep in the negative region and below its red trigger line, though smoothing slightly, while the RSI has made a minor improvement in [..]

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Technical Analysis – Gold bulls look exhausted near 2-week peak in very short-term

Posted on February 17, 2020 at 7:15 am GMT

Gold stretched its upside rally to a two-week high of 1,584.90 on Friday before pulling slightly lower in a bullish sloping channel in the 4-hour chart. Currently, in the near term, the price is losing some momentum confirmed by the technical indicators as the RSI is flattening near the 70 level, suggesting an overbought market. Also, the stochastic oscillator is turning lower as it posted a bearish crossover within its %K and %D lines above the 80 level, signaling a [..]

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Technical Analysis – AUDCHF remains bearish despite reversal off all-time low

Posted on February 14, 2020 at 12:41 pm GMT

AUDCHF is currently flirting with the flat blue Kijun-sen line around 0.6586, following a pullback off the all-time low of 0.6436. Backing this improvement, is the red Tenkan-sen line that has turned up and the technical indicators. The short-term oscillators reflect strengthening positive momentum. The rising Stochastic lines are entering the overbought region. Furthermore, the MACD is increasing above its red trigger line in the negative zone, while the RSI is pointing up, barely below the 50 mark. However, traders [..]

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