forex

Technical Analysis – NZDUSD finds resistance near 40-SMA in 4-hour chart; bearish mode is in progress

Posted on May 17, 2018 at 8:46 am GMT

NZDUSD has come under renewed selling pressure, falling below its 20-simple moving average (SMA) after the pullback on the 40-SMA in the 4-hour chart. Despite the latest bounce off, the pair has not posted a fresh lower low, yet, but the technical indicators are endorsing the negative pressure. Looking at momentum indicators, in the short-term timeframe, they suggest further decline may be on the cards. The RSI indicator is sloping down in the negative area, while the MACD oscillator holds above its trigger [..]

Technical Analysis – USDJPY trades near 3-month peak; further positive bias is expected in near term

Posted on May 17, 2018 at 6:27 am GMT

USDJPY is moving near its opening level during today’s early European session following the aggressive buying interest of the previous three days. The pair has challenged a fresh more than three-month high of 110.44 and successfully surpassed the 200-day simple moving average (SMA). The price remains above the aforementioned obstacle however, technical indicators suggest that the market could ease a little bit in the short-term. From the technical point of view, in the daily timeframe, the RSI indicator is flattening [..]

Technical Analysis – EURCHF turns bearish in short term after dramatic slump

Posted on May 16, 2018 at 2:20 pm GMT

EURCHF is on course for a fourth straight day of losses, which have taken the pair from above the 1.19 level to a one-month low of 1.1770 today. The sharp sell-off, especially in the past two sessions, has shifted the near-term bias from positive to negative. The momentum indicators are supportive of the bearish picture, with the RSI falling into negative territory below 50 and approaching the 30 oversold mark. Immediate support is being provided by the 38.2% Fibonacci retracement [..]

Technical Analysis – GBPSEK erases bearish rally; could post further gains in short term

Posted on May 16, 2018 at 1:08 pm GMT

GBPSEK has recorded a stunning bullish rally over the previous two trading days and is set to complete another positive session. After the rebound on the seven-month low of 11.6200, the price challenged an intraday high near the 11.8060 resistance level. The technical indicators in the short-term are confirming the upside momentum on price action. The RSI is currently increasing positive momentum towards its neutral threshold of 50, while the %K line of stochastic oscillator posted a bullish cross with the %D [..]

Technical Analysis – EURJPY posts losses re-challenging 40-SMA in short term

Posted on May 16, 2018 at 8:58 am GMT

Technical Analysis – EURJPY posts losses re-challenging 40-SMA in short term EURJPY bounced off the 131.37 high during Monday’s trading session and posted some losses reaching the 130.30 support level and the 40-simple moving average in the 4-hour chart. Hence the upside momentum appears to have run out of steam as prices have been attempting and failing to close above the 137.37 line in the past couple of days. Looking at momentum oscillators on the chart though, they suggest further [..]

Technical Analysis – AUDUSD continues bearish correction in near term; holds below 0.7800

Posted on May 16, 2018 at 6:36 am GMT

AUDUSD has reversed back down again after finding resistance at the 0.7560 barrier, achieved on Monday and holds below the 0.7800 handle. The pair completed two consecutive bearish days and remains below the 20- and 40-simple moving averages (SMAs) in the daily timeframe. However, Wednesday’s trading session started in positive territory. In the short-term, the momentum indicators seem to be in confusion. The RSI indicator is pointing slightly north, while is holding in negative. Also, the MACD oscillator climbed above the trigger line [..]

Technical Analysis – EURAUD holds in narrow range in near term; touches and rebounds on ascending trend line in long term

Posted on May 15, 2018 at 12:29 pm GMT

EURAUD remains under pressure as it continues to trade within a trading range in the short-term over the last two months with upper boundary the 1.6140 resistance level and lower boundary the 1.5775 support level. The price hit the long-term ascending trend line and rebounded creating two consecutive bullish days. The near-term technical indicators suggest a bullish movement. Looking at the daily timeframe, the RSI indicator is holding below the 50 level but is sloping upwards, while the stochastic oscillator [..]

Japan’s impressive run of GDP growth likely ended in Q1 – Forex News Preview

Posted on May 15, 2018 at 9:45 am GMT

GDP data out of Japan will come into focus on Wednesday (Tuesday, 23:50 GMT) as investors watch how resilient the Japanese economy was to the soft patch in global growth during the first three months of 2018. After achieving eight straight quarters of growth at the end of 2017 – the longest streak of expansion since the 1980s – the big question is whether any contraction at the start of 2018 will be a blip or a major bump in [..]

Technical Analysis – GBPUSD maintains weak in near term; broader trend is bearish

Posted on May 15, 2018 at 6:45 am GMT

GBPUSD has been underperforming in the past eight days as it has failed to post a significant day of gains or losses. The pair is consolidating slightly above the 38.2% Fibonacci retracement level of 1.3510 of the upleg from March 12 to May 15. Last Thursday, the cable recorded a fresh four-month low of 1.3459, while at the short-term picture the pair lacks a clear trend. In the daily timeframe, prices are moving sideways and based on technical indicators, momentum is too [..]

Technical Analysis – EURUSD pares some losses after hitting 5-month low of 1.1820

Posted on May 14, 2018 at 6:34 am GMT

EURUSD has been edging slightly higher since it found a strong support on the 1.1820 barrier last Wednesday, creating two consecutive bullish days and paring some of the previous weeks losses. The 1.1820 key level is a new almost five-month low and the price is still developing below the 23.6% Fibonacci retracement level of 1.2030 of the upleg from January 3 to February 16. Short-term momentum indicators are also pointing to a continuation of the bullish bias. The RSI indicator [..]

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