forex

Technical Analysis – EURJPY bears back into the game; uptrend line acts as support

Posted on February 7, 2018 at 1:55 pm GMT

EURJPY has reversed back down again after finding resistance at the 135.80 barrier during yesterday’s and today’s trading sessions. The pair has been developing lower, reaching the ascending trend line, which has been standing since August 18. Additionally, over the last hours, prices broke below the 23.6% Fibonacci retracement level at 135.12 of the up-leg from 127.45 to 137.50. The pair is recording a slightly upside movement and the short-term momentum indicators seem to be in confusion. In the 4-hour chart, the Relative [..]

Technical Analysis – AUDUSD continues the sell-off; next critical level 23.6% Fibonacci mark

Posted on February 7, 2018 at 7:32 am GMT

AUDUSD edged sharply lower over the previous six trading days, however, during yesterday’s session, the price snapped the steep losses and recorded a positive day, following the rebound on the lower Bollinger band around 0.7835. Looking on the bigger picture, the pullback from the 32-month high of 0.8135 endorsed the bearish phase, while the short-term technical indicators are bearish and point to more weakness in the market. It is worth mentioning that the price has been holding within an ascending [..]

Technical Analysis – GBPUSD bears drive the market; downside correction in progress

Posted on February 6, 2018 at 7:46 am GMT

GBPUSD fell as low as 1.3936, a level that is standing near the 20-day simple moving average during today’s Asian session. The pair tumbled aggressively in the last couple of days and the risk is still to the downside as price continues to move with weak movement. Also, the short-term technical indicators are bearish and point to more downside correction in the market. In the daily timeframe, the parabolic SAR indicator is signaling further losses as the price is trading [..]

Technical Analysis – AUDCAD posts bullish movement; next resistance above 0.9900

Posted on February 5, 2018 at 2:57 pm GMT

AUDCAD is rising aggressively over the last hourly session and is ready to attempt the 0.9900 psychological level. The price is heading for a re-test of the 0.9910 barrier and if it jumps above it, it would confirm the recent scenario for further gains. When looking in the short-term timeframe, the pair has been developing within an upward sloping channel since December 2017. From the technical point of view, in the near-term, the RSI indicator is approaching the 50 level with [..]

Technical Analysis – EURUSD fails to extend strong gains; indicators signal for retracement

Posted on February 5, 2018 at 7:34 am GMT

EURUSD posted a strong positive January while this month started with downside pressure. The US dollar strength drove the pair lower on Friday and failed to hit again the three-year high of 1.2540. The short-term technical indicators are flat and point to more weakness in the market. Having a look on the daily timeframe, the Relative Strength Index (RSI) dropped slightly lower of the 70-overbought level at 68, suggesting that the latest upswing may be running out of steam and [..]

Technical Analysis – GBPJPY hits new 19-month high; bearish correction is possible

Posted on February 2, 2018 at 2:03 pm GMT

GBPJPY surged sharply higher this week and during today’s trading session it reached a fresh 19-month high of 156.60. Prices have broken above the 156.00 handle for the first time since June 2016. The bullish picture in the short-term chart is further supported by the technical indicators. From the technical point of view, the Relative Strength Index (RSI) is flattening in the positive territory and is approaching the overbought area. Also, the MACD oscillator is holding in the bullish area [..]

Technical Analysis – USDCAD remains under pressure; maintains short-term bearish bias

Posted on February 2, 2018 at 7:42 am GMT

USDCAD has been developing lower over the last weekly sessions, after the strong pullback on the 1.2920 resistance level on December 19. The price broke several obstacles to the downside and ended Thursday’s session below the 1.2300 handle. Also, the short-term technical indicators are bearish and are pointing more weakness in the market. In the daily timeframe, the RSI indicator stands in the negative territory and is flattening near the 30 level, whilst the MACD oscillator is strengthening its bearish [..]

Technical Analysis – NZDUSD holds in narrow range; maintains weak bias in near term

Posted on February 1, 2018 at 2:16 pm GMT

NZDUSD has been trading within a consolidation area with upper boundary the 0.7420 resistance level and lower boundary the 0.7285 support barrier. The narrow range has been holding since January 24 where the price reached a five-month high of 0.7436, though it ended the day in the red and the bullish phase weakened. In the 4-hour chart, short-term indicators are signaling a bearish movement. The Relative Strength Index (RSI) is flattening near the 50 level, while the MACD oscillator is weakening in [..]

Technical Analysis – USDJPY posts some gains; re-enters into symmetrical triangle

Posted on February 1, 2018 at 7:48 am GMT

USDJPY surged above the 109.50 price level during today’s European session and is trying to enter again into the symmetrical triangle that has been holding since June 2015 in the medium-term timeframe. The short-term technicals are bullish and point to more strength in the market. From the technical point of view, in the daily timeframe, the RSI indicator rebounded from the oversold area and is currently sloping to the upside, indicating further gains. The stochastic oscillator is moving higher approaching the positive [..]

Technical Analysis – EURJPY runs sharply higher; bulls took the lead

Posted on January 31, 2018 at 1:59 pm GMT

EURJPY has reversed back up again after finding support at the 134.10 barrier during yesterday’s trading session. The pair has been developing higher along its current trend line since August 18. Additionally, over the last hours, prices broke above the 135.00 handle and are trading above the short-term moving averages. The pair is recording a sharp upside movement and the short-term momentum indicators are pointing to a bullish bias. The Relative Strength index (RSI) entered the positive territory and is strengthening its momentum, whilst [..]

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