forex

Technical Analysis – USDJPY in a range but negative risks around the corner

Posted on August 16, 2018 at 6:44 am GMT

USDJPY returned to range-bound trading after hitting an almost 7-week low of 110.10 on Monday but the negatively sloped 20-day (simple) moving average which is close to dropping below the 50-day MA may signal that the trend could develop to the downside in the short-term, especially if the bearish cross indeed materializes. The RSI and the MACD look somewhat neutral at the moment. However, both indicators have yet to exit the bearish zone for negative risks to fade out. That is the RSI to climb above 50 and [..]

Technical Analysis – EURCHF tumbles near 1-year low approaching rising trend line

Posted on August 14, 2018 at 11:50 am GMT

EURCHF is on course for the fifth week of losses, which have taken the pair from above the 1.1700 level to a one-year low of 1.1285. The sharp sell-off drives the price towards the lower boundary of the upward sloping channel, which has been standing since January 2015. The momentum indicators are supportive of the bearish picture, with the RSI falling into oversold territory below 30 and the MACD slipping aggressively below its red signal line. Immediate support could be provided by [..]

Technical Analysis – GBPUSD pares some losses after hitting 13-month low

Posted on August 14, 2018 at 6:35 am GMT

GBPUSD eases slightly to the upside after the aggressive falling mode posted in the preceding five weeks. The cable recorded an almost 13-month low of 1.2722 and the rally brought the price below the 20- and 40-simple moving averages (SMAs) and near the lower Bollinger Band in the daily timeframe. However, the technical indicators are suggesting for a possible upside correction. From the technical point of view, the RSI indicator is moving slightly higher but below the 30 mark in the oversold [..]

Eurozone industrial production and German ZEW economic sentiment could be next to drive the euro – Forex News Preview

Posted on August 13, 2018 at 3:58 pm GMT

While Eurostat’s second GDP growth estimate is expected to confirm on Tuesday that the bloc’s economic growth slowed down in the second quarter, eurozone’s industrial production is anticipated to have picked up steam in June (0900 GMT). At the same time in Germany, the ZEW institute is projected to say that economic sentiment in the biggest EU economy has improved but is still negative, with the euro probably bouncing higher if the data indicate a stronger improvement than analysts forecast. In May, eurozone’s industrial production surprisingly rebounded, printing [..]

Technical Analysis – AUDJPY rises following rebound from 21-month low; strongly bearish in near term

Posted on August 13, 2018 at 1:16 pm GMT

AUDJPY plummeted to a new 21-month low of 79.97 earlier today, slipping below the trading range of 84.50 – 80.60 that had been holding since February 9. The bearish scenario is further supported by the deterioration of the technical indicators and the negative aligned moving averages in the daily timeframe. Looking at momentum oscillators, further declines are expected in the near future despite the fact that the price is trying to pare the negative gap it posted today. The RSI is below its neutral 50 line, detecting negative momentum, [..]

Technical Analysis – EURUSD reaches 13-month low after significant sell-off move

Posted on August 13, 2018 at 6:33 am GMT

Technical Analysis – EURUSD reaches 13-month low after significant sell-off move EURUSD sank to a fresh 13-month low of 1.1364 on Monday and opened the day with a gap down after the aggressive bearish session in the preceding week. The world’s most traded currency endorses the negative movement as it holds below the narrow range of 1.1530 – 1.1750 and the 50.0% Fibonacci retracement level of the upleg from 1.0340 to 1.2550, around 1.1440. In the daily timeframe, the technical structure [..]

Technical Analysis – GBPJPY remains bearish after dramatic slump; records 11-month low

Posted on August 10, 2018 at 9:11 am GMT

GBPJPY is recording a stunning bearish run this week, touching a fresh eleven-month low of 141.04 on Friday. The aggressive selling interest drove the pair below the 20- and 40-simple moving averages (SMAs) and the 143.20 key level, while the technical indicators suggest that the market could ease more in the short-term. In the 4-hour chart, the RSI indicator detects increasing negative momentum in the oversold zone and the MACD oscillator has dived below its red trigger line and stands far away from the zero line, both [..]

Technical Analysis – USDCAD creates upside rally; could strengthen further in short term

Posted on August 10, 2018 at 6:37 am GMT

USDCAD started a rally to the upside after it formed a seven-week bottom at 1.2960 on Tuesday. The price crossed above the 20-day simple moving average (SMA) and the 23.6% Fibonacci retracement level of the upleg from 1.2060 to 1.3385, around 1.3072. The technical indicators are confirming the scenario for possible further upside pressure. Looking at the daily timeframe, the RSI and the MACD have both strengthened, with the former rising sharply and jumping above the 50 level. The latter is heading above its red [..]

Canadian employment report eyed as loonie swings from high to low – Forex News Preview

Posted on August 9, 2018 at 9:45 am GMT

Canadian employment numbers for July due on Friday at 12:30 GMT could add to the recent run of strong data for the North American economy. Jobs growth is expected to slow but remain solid in July, as the country enjoys a bounce in economic momentum amid strained relations with the United States and Saudi Arabia, and ongoing efforts to renegotiate NAFTA. The Canadian dollar could be set for fresh highs against its US counterpart after reaching a near 2-month peak [..]

Japan’s economy to return to growth in Q2 as BoJ keeps monetary taps on – Forex News Preview

Posted on August 9, 2018 at 9:08 am GMT

The Japanese economy will be under the spotlight on Friday as Japan’s Cabinet Office publishes data on second quarter GDP growth at 8:50 local time (Thursday, 23:50 GMT). A negative first quarter had put an end to a stretch of eight consecutive quarters of expansion. However, growth is expected to rebound in the second quarter as business and consumer spending pick up. Growth floundered in the first three months of the year as poor winter weather and a spike in [..]

Legal disclaimer: The material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instruments. XM accepts no responsibility for any use that may be made of these comments and for any consequences resulting in it. No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. The research and analysis does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it.

It has not been prepared in accordance with legal requirements designed to promote the independence of research, and as such it is considered to be marketing communication. Although we are not specifically constrained from dealing ahead of the publication of our research, we do not seek to take advantage of it before we provide it to our clients. We aim to establish, maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. We operate a policy of independence, which requires our employees to act in our clients’ best interests and to disregard any conflicts of interest in providing our services.

CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losing all of your invested capital, so please make sure that you fully understand the risks involved.

How can we help?

Live Chat Terms