forex

Technical Analysis – AUDUSD lacks clear direction in short-term; long-term downtrend intact

Posted on August 29, 2018 at 7:04 am GMT

AUDUSD has lost its positive momentum after the rebound on the 20-month low of 0.7200 on August 15, trading sideways between 0.7236 and 0.7380. In the short-term, the market could retain the range-bound trading as the RSI holds near its 50 neutral mark and the MACD remains around zero and close to its red signal line. The bearish trend though could stay in place given that prices continue to fluctuate below the Ichimoku cloud. Still, the bullish doji created around 0.7200 makes an uptrend possible. [..]

Technical Analysis – GBPUSD neutral in short-term but still bearish in medium-term

Posted on August 28, 2018 at 6:34 am GMT

GBPUSD has been moving sideways since the soft rebound on the 14-month low of 1.2660 on August 15, unable to fully recover losses made earlier this month. In the short-term, the market could maintain consolidation if the RSI keeps moving around 50 and the red Tenkan-sen line, as well as the blue Kijun-sen line, hold flat. Regarding the trend, this is likely to remain on the downside in the near-term as the 20-day simple moving average (SMA) continues to lose strength below the 50-day [..]

Technical Analysis – GBPJPY trades around 3-week high; remains bearish in medium-term

Posted on August 27, 2018 at 2:22 pm GMT

GBPJPY is trading more than 300 pips above 139.88, its lowest in a year hit on August 15. Current price action is also not far below 143.23, the pair’s highest in nearly three weeks touched on Friday. The RSI is on the rise in support of positive short-term momentum. Notice, though, that the indicator does not maintain a steep positive slope, the implication being that the bullish bias may be easing. Turning to the stochastics, the %K line has just [..]

Technical Analysis – EURUSD extends recovery to 1-month highs; could maintain positive momentum in short-term

Posted on August 27, 2018 at 6:58 am GMT

EURUSD continues to recoup losses which drove the market to a 1-year low of 1.1300 on August 15, with a spirited recovery to an almost 1-month high of 1.1652 during Monday’s Asian session. For short-term trading, the RSI and the MACD indicate that positive momentum could hold as the former picks up speed above the 50 neutral mark and the latter distances itself above its red signal line. Moreover, the market created a bullish doji around 1.1300, justifying the recent positive reversal. However, the fast [..]

Technical Analysis – EURCAD hits 16-day high, continues to look bearish in the medium-term

Posted on August 24, 2018 at 1:08 pm GMT

EURCAD has risen by roughly 350 pips after touching a nine-month low of 1.4798 in mid-August. Earlier on Friday, it posted a 16-day high of 1.5153, while it is currently trading not far below this peak. The RSI is climbing in support of a bullish short-term picture for the pair. Stronger gains may meet resistance from (and around) the zone between 1.5242 and 1.5286, which includes the 50- and 100-day moving average lines, as well as the upper Bollinger band. Further [..]

German Ifo business climate to edge up in August; may struggle to lift the euro – Forex News Preview

Posted on August 24, 2018 at 12:44 pm GMT

The Ifo business survey out of Germany will be making the headlines on Monday at 08:00 GMT as investors look still for evidence that growth in the Eurozone’s largest economy is picking up. While recent data suggest the deceleration in growth has bottomed out and economic activity may even be quickening somewhat, many analysts remain cautious about the outlook for Germany and the wider euro area, and this is reflected in euro/dollar, which recently hit a more than one-year trough [..]

Technical Analysis – EURGBP eyes 10-month high; positive momentum may be easing

Posted on August 24, 2018 at 9:41 am GMT

EURGBP is rising for the third straight day and is currently trading close to the 10-month high of 0.9029 recorded earlier in the month. Supporting the view for a bullish bias are the positively aligned Tenkan- and Kijun-sen lines. The easing Kijun-sen, though, may be hinting that upside momentum is weakening. The RSI, which continues to rise in bullish territory, also acts as a testament to the positive bias. Notice, though, that the indicator is not far below the 70 overbought [..]

Technical Analysis – GBPJPY flirts with 143.00 level; remains in bullish correction mode

Posted on August 24, 2018 at 9:11 am GMT

GBPJPY has been outperforming today and seems to be ready to challenge the 143.00 psychological level again. In the short-term, the price has moved higher after the rebound on the one-year low of 139.88, achieved on August 15. However, the technical indicators seem to be flat in the positive territory. The RSI hovers below the 70 level, while MACD remains neutral below the trigger line. If price action successfully surpasses 143.00, there is scope to test the 38.2% Fibonacci retracement [..]

Technical Analysis – USDCAD hovers around 23.6% Fibonacci within narrow range in near term

Posted on August 24, 2018 at 6:39 am GMT

USDCAD is back above the 23.6% Fibonacci retracement level of the upleg from 1.2060 to 1.3385, around 1.3072 but the bias over the last month remains neutral. The pair has been developing within a narrow range with upper boundary the 1.3170 resistance level and lower boundary the 1.2960 support barrier. In the short-term timeframe, the technical indicators are confirming the neutral bias as both are holding near their mid-levels. The MACD oscillator still stands above the trigger line but near the zero [..]

Japanese inflation to tick up in July but still has long road to the target – Forex News Preview

Posted on August 23, 2018 at 2:20 pm GMT

Japan’s Statistics Bureau will be releasing inflation readings for the month of July at 2330 GMT and while the Bank of Japan’s monetary policy remains super accommodative, inflation has been stubbornly refusing to pick up steam towards the central bank’s price target, making investors wonder whether the BoJ could join its counterparts in the tightening train anytime soon. In July, analysts expect core inflation to strengthen but still remain sluggish. The data are expected to show that the nationwide core Consumer Price Index (CPI), which excludes fresh food but includes energy products, grew by 0.9% y/y in June, slightly faster than in May [..]

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