forex

Technical Analysis – USDJPY fails to post significant movement; trades around 23.6% Fibonacci

Posted on September 13, 2018 at 6:39 am GMT

USDJPY has been developing around the 23.6% Fibonacci retracement level of the upleg from 104.60 to 113.16, around the 111.13 barrier over the last three weeks. Moreover, the price holds above the 20- and 40-simple moving averages (SMAs) in the daily timeframe, as well as the technical indicators stand near their neutral levels. The RSI indicator is sloping slightly to the upside above the threshold of 50, while the MACD oscillator is flattening above the trigger and zero lines. Both [..]

Technical Analysis – EURJPY stands above SMAs but turns negative in near term

Posted on September 12, 2018 at 9:00 am GMT

EURJPY has been trading sideways after the drop below the 129.97 resistance level, which currently acts as a major obstacle for the bulls. Currently, the price is moving above the 20- and 40-simple moving averages (SMAs) in the 4-hour chart, indicating a possible upside extension. Moreover, the RSI is pointing south above 50 level, while the MACD is moving lower in the positive zone. A move to the upside may meet resistance around the 129.97 resistance barrier, this being a top recorded on September [..]

Technical Analysis – AUDUSD holds near 31-month low; strong sell-off rally continues

Posted on September 12, 2018 at 6:54 am GMT

AUDUSD has been making lower highs and lower lows since the end of January when it touched the 0.8135 resistance level. On Tuesday, the pair recorded a fresh more than the two-and-a-half-year low of 0.7084, while price action is at the moment taking place not far above this trough. The technical indicators, though, continue to send bearish signals, suggesting that the softness in the market is not over yet. In the daily timeframe, the RSI indicator is standing below the threshold [..]

Technical Analysis – CHFJPY erases bullish rally; remains neutral in bigger view

Posted on September 10, 2018 at 1:17 pm GMT

CHFJPY has lost its positive momentum after the bounce off the six-month high of 115.30 on August 30. According to the RSI, the market could maintain negative momentum in the short-term as the indicator is negatively sloped above its neutral threshold of 50, though the fast Stochastics suggest that the market is moving towards the oversold territory and therefore some weakness is possible; the blue %K line is fluctuating slightly below the red %D line. On the downside, the price could attempt [..]

Technical Analysis – EURUSD stays neutral below 1.1600

Posted on September 10, 2018 at 6:54 am GMT

EURUSD closed below the 1.1600 key level after a negative session on Friday, though the pair remains neutral since the end of August, trading between 1.1529- 1.1732. In the short-term, consolidation is likely to stay in place as the RSI continues to move around its 50 neutral mark and the MACD holds around zero and its red signal line. A leg higher could meet immediate resistance at the 23.6% Fibonacci of the downleg from 1.2412 to 1.1300, near 1.1560 where [..]

Technical Analysis – GBPJPY holds in narrow range; indicators signal bullish bias

Posted on September 7, 2018 at 9:15 am GMT

GBPJPY has been moving in a narrow range with an upper boundary the 144.20 resistance level and lower boundary the 142.60 support level, over the last week. Currently, the price is moving higher with the RSI confirming this movement as it is approaching the bullish area. Furthermore, the %K line of the stochastic oscillator created a bullish cross with the %D line in the oversold zone, which is a strong buying signal for traders. Immediate resistance is being provided by the 38.2% [..]

Technical Analysis – USDCAD eases in short term but outlook remains strongly bullish

Posted on September 7, 2018 at 6:26 am GMT

USDCAD has lost its positive momentum over the last couple of days after the bounce on the 1.3230 resistance level. In the short-term, the market could retain its neutral to bearish mode, confirmed by the 20- and 40-simple moving averages which are heading sideways. The RSI indicator is pointing south in the positive territory, while the MACD oscillator holds above its zero and trigger lines but with weak momentum. An extension to the downside and below the 23.6% Fibonacci retracement level of the [..]

Technical Analysis – NZDUSD eases above mid-level of Bollinger Band; looks strongly bearish in medium term

Posted on September 6, 2018 at 9:00 am GMT

NZDUSD has declined in the previous session in the 4-hour chart but still remains above the mid-level of the Bollinger Band, this being a 20-period simple moving average (SMA). The RSI seems to be stalling its advance below the 50 neutral-perceived level, while the stochastic oscillator is giving a bearish signal in the very short-term as the %K line has crossed below the %D line, with both heading lower. Should the pair stretch south, Wednesday’s 2½-year low of 0.6528 could provide immediate support before the January 2016 bottom of 0.6345 come into view. The round figures of 0.6500 [..]

Technical Analysis – USDJPY hovers around 23.6% Fibonacci mark; neutral in short-term

Posted on September 6, 2018 at 6:28 am GMT

USDJPY is hovering around the 23.6% Fibonacci retracement level of the upleg from 104.60 to 113.16, around the 111.13 barrier. According to the technical indicators, the market could maintain neutral momentum in the short-term as the RSI indicator is moving slightly to the downside near the threshold of 50, while the MACD oscillator is flattening near the zero line. Also, the pair still holds above the 20-and 40-simple moving averages but seems ready to slip below them. On the downside, the price [..]

Technical Analysis – EURJPY lacks clear direction in near-term; drops below 129.00

Posted on September 5, 2018 at 10:06 am GMT

EURJPY has been moving sideways since the soft rebound on the 128.50 support level in the previous couple of days. Currently, the price is moving sharply lower, below 129.00, and is standing below the 20- and 40-simple moving averages (SMAs) in the 4-hour chart, while the technical indicators are signaling further losses. The RSI indicator slipped below the threshold of 50 and the %K line of the stochastic oscillator recorded a bearish crossover with the %D line in the overbought zone. If [..]

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