forex

Technical Analysis – NZDUSD erases some losses; possibility of retracement in near term

Posted on April 26, 2018 at 10:37 am GMT

NZDUSD has come under renewed selling pressure, completing a new 4-month low of 0.7055 earlier today. The pair has been plunging over the last seven trading days, losing more than 300 pips. Furthermore, the price slipped below the significant level of 0.7140, signaling a strong bearish sell-off. Looking at momentum oscillators on the 4-hour chart, they suggest a possible retracement of the last aggressive downward movement. The RSI indicator is sloping upwards in the oversold zone, while the %K line of the stochastic [..]

BoJ to hold rates, stick with inflation outlook; relief as yen falls – Forex News Preview

Posted on April 26, 2018 at 9:09 am GMT

The Bank of Japan will announce its latest monetary policy decision on Friday after concluding a two-day meeting. The announcement could easily be a non-event as the Bank is widely expected to keep policy unchanged and not make any significant changes to its quarterly economic forecasts, which are published the same day. However, investors shouldn’t discount the possibility of a more dovish stance following the appointment of two new deputy governors. With core inflation around 1%, the BoJ is not [..]

Technical Analysis – USDJPY trades around 2-month high; extends its bullish rally with next stop 110.00

Posted on April 26, 2018 at 6:48 am GMT

USDJPY is extending its gains after the penetration of the 108.20 strong barrier during Monday’s session. Earlier today the price recorded a fresh more than two-month high of 109.46 and has added more than 250 pips over the last six trading days. From the technical point of view, in the daily timeframe, the price is developing well above the 50-day simple moving average SMA, while it lost some momentum over the last few hours. The RSI indicator is looking stronger as it enters the overbought zone after [..]

Technical Analysis – EURJPY retreats following the touch on two-month high near 133.50

Posted on April 25, 2018 at 9:03 am GMT

EURJPY has advanced considerably following the rebound on the 132.10 support level, which coincides with the rising trend line. The ascending movement has been holding since March 23, creating a bullish correction of the major bearish movement in medium-term. During yesterday’s session the pair recorded a new more than two-month high near 133.50, however, currently, the price is capped by the 50.0% Fibonacci retracement level of 133.20 of the downleg from 137.50 to 129.00. Momentum indicators are pointing to a neutral to positive [..]

Technical Analysis – AUDUSD posts steep declines; ascending trend line penetrated

Posted on April 25, 2018 at 6:46 am GMT

AUDUSD recorded a stunning bearish rally over the last four trading days, penetrating the medium-term ascending trend line, which has been standing since January 2016. Also, the price posted a fresh more than 4-month low of 0.7569 during today’s early European session. The aggressive bearish correction started after the pullback on the 32-month high of 0.8135 and now the bias is turning to negative. The RSI is currently increasing negative momentum towards the oversold threshold of 30 after the sharp slip from the 50 [..]

Special Report – As 10-year US yields break above 3%, is the dollar turning a corner?

Posted on April 24, 2018 at 3:10 pm GMT

The US dollar broke above the 109-yen level for the first time since early February this week, taking the dollar bears, who have been betting on more losses for the beleaguered greenback, by surprise. The sudden shift to a more bullish sentiment, in the short term at least, comes amid a surge in US Treasury yields, which has led to a widening in the spread of US sovereign bond yields with its peers. But as the dollar climbs to three-month [..]

Technical Analysis – EURGBP struggles for more upside movement; still in bearish-tilting channel

Posted on April 24, 2018 at 1:36 pm GMT

EURGBP accelerated sharply higher in the previous week but it has struggled to extend its gains over the last hours. The pair remains in a slightly downward-tilting channel, which has been in place since September 2017. The longer-term neutral to bearish outlook was recently confirmed again when the pair touched an 11-month low of 0.8620 on April 16. In the near-term, the price failed to break the 40-day simple moving average (SMA) and is moving lower, as well as the technical indicators. The RSI indicator is pointing down [..]

Technical Analysis – GBPUSD steadies after steep losses; remains in sideways channel

Posted on April 24, 2018 at 6:46 am GMT

GBPUSD sank aggressively over the last five trading days following the bounce off the 22-month high of 1.4375, which it hit last week. The pair recorded a new five-week low during today’s Asian session of 1.3917. Price action is at the moment taking place not far above this bottom. The RSI has fallen into negative territory but is sloping slightly to the upside, indicating that the market could weaken a little bit in the short-term to provide further losses. Stochastics are still in oversold [..]

Technical Analysis – EURUSD penetrates long-term ascending trend line; still stands in symmetrical triangle in near-term

Posted on April 23, 2018 at 6:39 am GMT

EURUSD has been underperforming in the past two days, breaking below the long-term ascending trend line, which has been holding since March 2017. However, the single currency is still standing in the symmetrical triangle formation against the greenback as it finished the day around the 1.2250 price level, near the lower boundary. In the daily timeframe, the RSI indicator is currently increasing negative momentum below the threshold of 50, while the MACD oscillator is slowing down in positive zone and created [..]

Week Ahead – Euro and yen seek direction from ECB and BoJ; preliminary Q1 GDPs start rolling in

Posted on April 20, 2018 at 12:17 pm GMT

Attention will shift to monetary policy next week as the European Central Bank and the Bank of Japan hold scheduled policy meetings. GDP will come into focus too, with preliminary readings for the first three months of 2018 expected out of the United Kingdom, the United States and France. Also important will be the flash April PMIs for the Eurozone, Japan and the US. Australian inflation eyed after disappointing job figures The Australian dollar mostly shrugged off disappointing employment numbers [..]

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