forex

Technical Analysis – USDJPY hovers around 106.00; remains in weak sell-off

Posted on March 8, 2018 at 7:28 am GMT

USDJPY is hovering around the 106.00 handle as it refused for the second day in a row to jump above the 61.8% Fibonacci retracement level at 106.47 of the upleg from 99.00 to 118.60. When looking at the bigger picture the pair is creating a bearish trend as it slipped below the trading range within 108.20 – 114.70 in the previous weekly sessions. In the daily timeframe, the price bounced off the 61.8% Fibonacci mark and the 20 and 40 simple moving [..]

Technical Analysis – GBPUSD bearish correction mode holds; indicators endorse further losses

Posted on March 6, 2018 at 7:33 am GMT

GBPUSD completed three green trading days in a row, while during today’s European session is moving marginally lower. The price is capped by the 20 and 40 simple moving averages in the daily timeframe, but it jumped above the 23.6% Fibonacci retracement level at 1.3810 of the upleg with the low of 1.2120 and the high of 1.4345. Having a look on the short-term indicators, the bearish correction remains in focus as both are endorsing the downside movement. The MACD [..]

Technical Analysis – EURAUD extends its gains; reaches a new 2-year high

Posted on March 5, 2018 at 1:58 pm GMT

EURAUD surged to a fresh 2-year high of 1.5922 during today’s European session after it successfully surpassed the 1.5815 key level. The pair recorded the fifth straight green day and the bullish picture in the short-term is further supported by the technical indicators. It is worth to mention that the price has been developing in an uptrend since February 2017. From the technical point of view, in the daily chart, the MACD oscillator jumped above its trigger line in the [..]

Technical Analysis – EURUSD fails to hold above 1.2300; weak movement is expected

Posted on March 5, 2018 at 7:35 am GMT

EURUSD has completed two consecutive positive trading days following the rebound on the lower Bollinger band, which holds near the 1.2160 support level. However, currently, the pair is moving slightly lower below the 20 and 40 simple moving averages in the daily chart. Remaining in the short-term chart, technically, the momentum indicators are endorsing the recent downside pressure. The RSI indicator is sloping south near the 50 level, while the MACD oscillator is falling below the trigger line but is still above [..]

Technical Analysis – AUDJPY sharply bearish and oversold

Posted on March 2, 2018 at 3:37 pm GMT

In February, AUDJPY recorded its worst monthly performance since April 2016, posting a loss of 5.8%. The negative sentiment remains strong in the first days of March, with prices hitting a 10-month low of 81.59 today but momentum indicators signal that the market could be overextended in the four-hour chart. The Relative Strength Indicator (RSI) has been trending below 30 in oversold territory during the past two days, while Stochastics have posted a bullish cross below 20, flagging that upside [..]

Technical Analysis – GBPJPY looks oversold; completes 5-month low

Posted on March 2, 2018 at 10:44 am GMT

GBPJPY has been plunging sharply lower since Thursday and reached a more than a 5-month low of 145.40. The pair completed the fourth red day in a row following the significant pullback on the 150.00 psychological level. When looking at the bigger picture the price is creating a bearish correction and fell below the 23.6% Fibonacci retracement level of the last upward movement from 124.00 to 156.60. From the technical point of view, the market could increase negative momentum in the 4-hour chart. [..]

Technical Analysis – USDCAD holds around 2-month high; bullish bias but possibility of overstretched rally

Posted on March 2, 2018 at 7:29 am GMT

USDCAD has advanced considerably to a more than a 2-month high of 1.2895 during Thursday’s session, however, it ended the day slightly above its opening level. The price posted the fourth straight bullish day and the aggressive positive rollercoaster started after the rebound on 1.2460 support level. The short-term momentum indicators seem to be in agreement with the positive scenario. Technically, in the daily timeframe, the MACD oscillator is rising with strong momentum above its trigger and zero lines, while the [..]

Technical Analysis – NZDUSD holds in narrow range; bearish correction in progress

Posted on March 1, 2018 at 8:39 am GMT

NZDUSD is edging sharply lower over the last sessions after it created a double top at the 5-month high of 0.7435 on February 16. The double top reversal is a bearish pattern indicating further losses on the price action. When looking at the bigger picture the pair lacks a clear trend since it has been developing within a narrow range of 0.7175 – 0.7435 after its rally from 0.6780 stalled at 0.7435. In the 4-hour chart, momentum indicators are also pointing to a continuation of [..]

Technical Analysis – USDJPY continues sell-off with weak momentum

Posted on March 1, 2018 at 7:30 am GMT

USDJPY has been trading considerably lower since roughly the beginning of November, hitting a 15-month low of 105.50 on February 16. Price action is developing below the 23.6% Fibonacci retracement level near 107.70 of the downleg with the high of 114.70 and the low of 105.50. The aforementioned obstacle overlaps with the 20-day simple moving average and is following the downward movement of the price. The short-term technical indicators are neutral to bearish and point to more weakness in the market. From the [..]

Technical Analysis – USDSEK turns bullish; surges above 200-DMA to 2-month high

Posted on February 28, 2018 at 1:35 pm GMT

USDSEK has turned bullish in the short to medium term, hitting a 2-month high of 8.2693 earlier today. The pair is currently trading above its moving averages (MA), while the 20-day MA is attempting a bullish crossover with the 50-day MA. The MACD is also pointing to a continuation of the month-long uptrend as it turned positive in late February for the first time since December. The RSI further underlines the bullish picture in the short term at least as [..]

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