forex

Technical Analysis – EURCHF trades around 3-year high; bullish bias but possibility of overstretched rally

Posted on April 20, 2018 at 11:42 am GMT

EURCHF reached a more than three-year high of 1.2004 during the end of today’s European session, after the recovery from the 0.9650 low hit in January 2015. The price posted an aggressive bearish run this January losing more than 24500 pips. Since then, the pair has been trading in an upward sloping channel and is completing the fourth consecutive bullish week. Zooming in the daily timeframe, the upside momentum appears to have run out of steam as prices have been attempting and failing to [..]

Technical Analysis – AUDJPY posts 8-day low; stochastics paint negative picture in very short-term

Posted on April 20, 2018 at 10:32 am GMT

AUDJPY has retreated a bit after reaching a five-week high of 84.06 last week. Earlier on Friday, the pair hit an eight-day low of 82.71. The RSI has been largely moving sideways in recent days, pointing to the absence of short-term momentum in either the upside or the downside. The stochastics, however, are projecting a negative picture in the very short-term: the %K line remains below the slow %D one, with both lines heading lower. Immediate support could be taking [..]

Technical Analysis – GBPJPY re-challenges rising trend line; broader trend is bullish

Posted on April 20, 2018 at 8:12 am GMT

GBPJPY is posting an aggressive bearish session over the last few hours after two bullish candles in a row, in the 4-hour chart. In a longer-timeframe, the price edged sharply lower following the pullback on the 153.80 resistance level. The short-term technical indicators are bearish and point to more weakness in the market. Looking at the 4-hour chart, prices are looking capped by the 20 and 40-period moving averages which are negatively aligned after a bearish crossover that took place during [..]

Technical Analysis – USDCAD bullish movement is expected in short-term; next key level 1.2800

Posted on April 20, 2018 at 6:49 am GMT

USDCAD completed two consecutive bullish days this week and drove the price towards a new six-day high near the 1.2675 price level. When looking at the bigger picture, the pair has been trading within a rising sloping channel since September 2017, failing several times to exit from this range. The technical indicators, though, continue to send bullish signals, suggesting that the bullish market is not over yet. The MACD oscillator is moving slightly above the trigger line indicating that the [..]

Technical Analysis – USDRUB erases rally; could weaken further in short-term

Posted on April 19, 2018 at 3:32 pm GMT

USDRUB recorded a stunning rally last week towards a 16-month high of 64.83, marking an overall gain of 6.4% during the period. This week, though, the pair is on the backfoot and the technical indicators suggest that the market could ease a little bit in the short-term. The RSI is currently losing strength and looks to be heading towards its neutral threshold of 50 after an exit from overbought levels, while the MACD is slowing down in positive territory, both [..]

Technical Analysis – NZDUSD in bearish bias again after challenging almost 2-month high of 0.7395

Posted on April 19, 2018 at 8:55 am GMT

NZDUSD has been consolidating since February and has been stuck in a channel tilted slightly to the downside. The neutral to bearish picture in the medium term looks to last for a while longer after prices failed to break above the upper channel in the prior week. Resistance was met at around the 0.7400 psychological level, which overlaps with the upper boundary after prices hit an almost 2-month high of 0.7395, forcing the pair to reverse lower. In the 4-hour [..]

Technical Analysis – USDJPY stands in bullish correction mode; broader trend is bearish

Posted on April 19, 2018 at 6:44 am GMT

USDJPY has advanced considerably after the significant rebound on the 16-month low of 104.60 at the end of the preceding month. Since yesterday’s session the price has been moving slightly higher above the 20- and 40-simple moving averages (SMAs) in the daily timeframe. Looking at the bigger picture, the US dollar has been developing within a downward sloping channel against the Japanese yen since November 2016. The positive bias in the near term is supported by the deterioration in the [..]

Technical Analysis – EURJPY finds support at 20 and 40 SMAs in near term; outlook still bullish

Posted on April 18, 2018 at 1:18 pm GMT

EURJPY has come under renewed buying interest after the rebound on the 132.10 support, which overlaps with the short-term ascending trend line in place since the end of March. In the 4-hour chart, prices are moving above the 20- and 40- simple moving averages (SMAs), signaling further gains. From the technical point of view, the MACD oscillator is trying to create a bullish crossover with its trigger line, while the Relative Strength Index (RSI) indicator is pointing to the upside in the [..]

Technical Analysis – AUDUSD remains bullish in medium-term; pares some previous losses in short-term

Posted on April 18, 2018 at 6:36 am GMT

Since its deep fall towards the 0.7640 support level at the end of March, AUDUSD has been developing between the 38.2% Fibonacci retracement level of 0.7635 and the 23.6% Fibonacci mark of 0.7825. The Fibonacci levels are taken from the upleg of the last big upward movement in the weekly timeframe, with the low of 0.6820 and the high of 0.8135. Last week the pair snapped the four losing weekly sessions and posted a positive candle, while the 50-week simple moving average (SMA) [..]

New Zealand inflation expected to fall to lower target band as kiwi stalls at $0.74 – Forex News Preview

Posted on April 17, 2018 at 12:57 pm GMT

Quarterly inflation numbers out of New Zealand on Thursday are expected to show the country’s CPI rate moving back towards the lower end of the Reserve Bank of New Zealand’s target band. The data (due at 22:45 GMT on Wednesday) would likely reaffirm expectations that the RBNZ will be on hold for a while longer. After spiking to 2.2% in the first three months of 2017, annual inflation has been steadily slowing. It is forecast to fall to 1.1% in [..]

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