forex

Technical Analysis – GBPUSD stands around 22-month high; strongly bullish

Posted on April 17, 2018 at 6:43 am GMT

GBPUSD was one of the best-performing currencies on Monday, which raced above the 1.4300 handle, extending a rally that has not created a retracement in the past seven trading days. The cable reached a fresh 22-month high of 1.4362 during today’s Asian session, signaling that the pair is ready for a bullish run and point to more strength in the market. In the daily timeframe, prices rebounded off the mid-level of the Bollinger band (20-day SMA) and the 40-day simple moving average (SMA) [..]

Dollar bulls eye Fed speakers as USDJPY climbs back above 50-Day MA – Forex News Preview

Posted on April 16, 2018 at 3:24 pm GMT

Members of the Federal Open Market Committee (FOMC) have a busy schedule ahead this week as many of them are lined up to make public appearances. Investors will be looking for a hawkish tilt in policymakers’ views after one FOMC member, Eric Rosengren, fuelled speculation of four rate hikes this year in a speech last week. Further talk of a likelihood of more than three rate increases in 2018 could boost the greenback’s recovery from the 16-month low of 104.55 [..]

Technical Analysis – CADJPY maintains bullish bias after rebound on 80.50

Posted on April 16, 2018 at 12:53 pm GMT

CADJPY has been making higher lows and higher highs since the middle of March when it touched a nine-month low of 80.50, pausing the downtrend and creating a bullish tendency. The technical indicators continue to send bullish signals, suggesting that the strong upward movement in the market is not over yet. In the 4-hour chart, the Relative Strength Index (RSI) is sloping to the upside, while the %K line of the stochastic oscillator is creating a bullish cross with the %D line in the [..]

Technical Analysis – EURUSD creates symmetrical triangle; looking neutral

Posted on April 16, 2018 at 6:32 am GMT

EURUSD has been underperforming in the past two days, failing to extend its gains to the upside. The pair has been developing within a symmetrical triangle since February in the short- to medium-term timeframe, while the price lacks a clear trend. In the longer-term, the single currency has been developing in an ascending movement against the greenback over the last year. Looking at the daily timeframe, prices are holding above the 20- and 40-simple moving average (SMA), which are flattening near the 1.2320 [..]

Week Ahead – March inflation, BoC meeting, US retail sales and China GDP among highlights; geopolitical risks also loom large

Posted on April 13, 2018 at 12:03 pm GMT

It will be an important week for major economic releases over the next seven days with key indicators due from all the big markets. Inflation and retail sales data will dominate the calendar followed by employment numbers. A policy meeting by the Bank of Canada will also be eyed. However, with geopolitical risks currently running high, a worsening risk sentiment could dampen market enthusiasm for the data. While simmering tensions in the Middle East may have distracted President Trump’s attention [..]

Technical Analysis – EURGBP hits near 11-month low; looking bearish in the medium-term

Posted on April 13, 2018 at 10:49 am GMT

EURGBP has declined considerably after recording a four-and-a-half-month high of 0.8967 in early March. Earlier in Friday’s trading it touched 0.8627, this being its lowest since May 24 of last year, while it is currently trading not far above this trough. The Tenkan- and Kijun-sen lines are negatively aligned and the RSI is heading lower, both being supportive of a negative short-term momentum for the pair. However, the RSI has entered oversold territory below 30 and the Chikou Span also [..]

Technical Analysis – GBPJPY accelerates and records 2-month high near 154.00

Posted on April 13, 2018 at 8:37 am GMT

GBPJPY is rising aggressively and reached a two-month high of 153.83 during today’s European session. The pair has surpassed successfully the upward sloping channel, which has been holding since March 5, indicating that the bullish extension continues. The technical indicators, continue to send bullish signals, suggesting that the strengthens in the market is not over yet. In the 4-hour chart, the RSI is pointing upwards at overbought levels, slightly above 70 indicating that the market could strengthen a little bit in the short-term until the index falls below that threshold. [..]

Technical Analysis – NZDUSD holds near 7-week high; momentum indicators look neutral

Posted on April 12, 2018 at 10:37 am GMT

NZDUSD surged to a 7-week high of 0.7387 during today’s European session following the aggressive buying interest that started after the rebound on the 40-day simple moving average of 0.7240 last Friday. The technical indicators, though, are sending neutral to bearish signals, suggesting that the strengthening of the market is weakening. In the 4-hour chart, the Relative Strength Index (RSI) has flattened near overbought levels, indicating that the market could weaken a little bit in the short-term until the index jumps above that threshold. [..]

Chinese exports to moderate in March but outlook clouded by trade war fears – Forex News Preview

Posted on April 12, 2018 at 8:37 am GMT

Trade figures out of China are scheduled for release on Friday for the month of March, with consensus forecasts of a sharp deceleration in exports and a smaller trade surplus. The data comes amid heightened risk of a trade war between China and the United States as the two economic powerhouses quarrel over unfair trade practices. Chinese exports surged by 44.5% year-on-year in February – the biggest jump in three years – mainly due to the effects of the timing [..]

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

Posted on April 12, 2018 at 6:23 am GMT

USDJPY remains under strong pressure and is looking more neutral as prices failed several times to climb above the 107.50 resistance level. This week’s upside momentum appears to have run out of steam as prices are flattening near the 107.00 psychological level. Looking at the bigger picture, the US dollar has been developing within a downward sloping channel against the Japanese yen since November 2016. The neutral bias in the near term is also supported by the RSI indicator, which [..]

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