forex

Technical Analysis – GBPAUD flirts with 1.9400 number; positive prospects

Posted on February 14, 2020 at 11:26 am GMT

GBPAUD has gained little this week but it managed to hold above the 20-day simple moving average (SMA) and re-enter the 1.9400 area, however, the technical indicators feed prospects for a possible improvement in the near term. The RSI indicator is flattening in the bullish area, while the stochastic is heading north, approaching the 80 level. That said, the red Tenkan-sen line keeps falling slightly above the blue Kijun-sen line, reflecting the recent pause in positive momentum. A failure to [..]

Japanese Q4 GDP may raise fresh concerns about outlook – Forex News Preview

Posted on February 14, 2020 at 10:41 am GMT

Japanese GDP number for Q4 in 2019 are coming up during the early Asian session on Monday at 01:50 GMT. Adding some significant pressure to Japan’s economy lately is the China’s coronavirus, which has threatened exports and factory output, as well as hitting tourism in the country. The economy expanded in the third quarter at a faster pace than anticipated, driven by stronger capital investment and private consumption ahead of the October 1 consumption tax increase. However, GDP is forecasted to print a negative reading of [..]

Technical Analysis – GBPJPY’s attempt to improve pauses ahead of 76.4% Fibonacci

Posted on February 14, 2020 at 9:22 am GMT

GBPJPY yesterday bounced off the 20- and 50-period simple moving average (SMAs) and jumped above the flattened 200-period SMA. The fresh improvement in the price – within the one-month trading range from 140.82 to 144.60 – was soon stalled around a previous high beneath the 143.60 level, which is the 76.4% Fibonacci retracement of the down move from 148.86 to 126.53. The short-term oscillators reflect conflicting signals. The MACD is increasing above its red trigger line in the positive zone, [..]

Technical Analysis – USDCAD could lose more below 1.3235

Posted on February 14, 2020 at 8:33 am GMT

USDCAD is set to close negative after five consecutive green weeks. Particularly, the bulls gave up the rally near the previous peak of 1.3326 on Monday despite piercing it and pulled back into the 1.3200 territory. Expectations are for the cautious sentiment to stay in play in the short-term as the RSI is weakening towards its 50 neutral mark and the MACD is slowing below its red signal line. Yet, whether the price will extend its sell-off or consolidate will likely [..]

Technical Analysis – GBPCAD holding bullish above the ascending trendline

Posted on February 13, 2020 at 3:02 pm GMT

GBPCAD’s positive momentum appears to be picking up ahead of the uptrend line drawn from the September 3 low. The move up seems to be assisted by the fresh bullish crossover of the 50-day simple moving average (SMA) by the 20-day one, as well as the technical indicators. The short-term oscillators reflect an improving picture with the Stochastics %K and %D lines rising above 20 and having room to cover before reaching the 80 overbought point. The MACD, in the [..]

Technical Analysis – EURGBP bears come in play; aim for 3-year lows

Posted on February 13, 2020 at 2:28 pm GMT

EURGBP is heading south to meet its 3-year low of 0.8275 after an unsuccessful attempt to rise above the Ichimoku cloud in previous sessions. The main scenario is that selling pressure will persist in the short-term as the RSI and Stochastics are trending downwards in the bearish area but have yet to reach oversold levels, while the MACD is also moving with a stronger negative momentum below its red signal line. Possibly, the downfall may take a breather within the [..]

Technical Analysis – USDCHF tests the bearish grasp in short-term picture

Posted on February 13, 2020 at 9:12 am GMT

USDCHF’s bounce from the 0.9628 low has stalled around the 0.9769 level, which is the 38.2% Fibonacci retracement of the down leg from 1.0022 to 0.9612. However, as positive momentum appears to be improving with the bullish stance displayed in the red Tenkan-sen line, an advance into the Ichimoku cloud may unfold. The MACD continues to increase above its red trigger line and the zero mark, while the RSI hovers above the 50 level. That said, traders need to be [..]

Technical Analysis – USDJPY looks fragile near recent peaks

Posted on February 13, 2020 at 8:36 am GMT

USDJPY attempted to reach January’s 8-month high of 110.28 on Wednesday but efforts proved fruitless as the price pulled back into the 109.00 territory early on Thursday. The falling RSI, which failed to resume upward direction on Wednesday, suggests that momentum in the price may remain weak in the short-term. Yet, as long as the indicator continues to move above its 50 neutral mark, upside corrections cannot be ruled out. Currently, the 109.70 barrier is restricting the move down for [..]

Technical Analysis – EURUSD plummets to 22-month low; indicators suggest upside reversal

Posted on February 13, 2020 at 8:21 am GMT

EURUSD came under renewed selling pressure on Wednesday, plunging to a fresh 22-month low of 1.0864. The 20-day simple moving average (SMA) has remained beneath the 40-day SMA over the last week, suggesting the continuation of the downside trend. However, the technical indicators are increasing chances for a possible reversal as the %K line of the stochastic oscillator completed a bullish cross with the %D line in the oversold zone, while the RSI is sloping north below the 30 level. [..]

Technical Analysis – EURSEK looks increasingly negative at lower band of Ichimoku cloud

Posted on February 12, 2020 at 3:01 pm GMT

EURSEK is currently tackling the lower boundary of the Ichimoku cloud, which coincides with the support from January 9. The pair’s negative sentiment seems to be aided by the nearing bearish crossover between the Tenkan sen and Kijun-sen lines and the negative signals in the technical indicators. The MACD, in the positive region, has dropped below its red trigger line to stand just above the zero level, while the RSI continues to fall in the bearish zone. Moreover, with the [..]

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