forex

Technical Analysis – EURSEK sustains bullish mode at the 50.0% Fibonacci

Posted on January 31, 2020 at 12:20 pm GMT

EURSEK is attempting to push over the 10.671 hurdle, which is the 50.0% Fibonacci retracement of the down leg from 10.932 to 10.410 after violating the Ichimoku cloud and the 200-day simple moving average (SMA) to the upside. Backing the move is the upward sloping Ichimoku lines and the technical indicators, which are reflecting further advances on the cards. The MACD in the positive zone is strengthening above its red trigger line while the rising RSI has claimed the 70 [..]

Technical Analysis – GBPCAD bullish at six-week highs; indicators remain positive

Posted on January 31, 2020 at 11:25 am GMT

GBPCAD has gained this week but it managed to still hold within the Ichimoku cloud in the daily timeframe. The price ran to a fresh six-week peak today at 1.7376, climbing above 1.7340, which is the 23.6% Fibonacci retracement level of the upward wave from 1.5875 to 1.7790, following the rebound off the six-month uptrend line. The technical indicators are feeding prospects of a possibly more aggressive positive tendency; the RSI holds well above 50, while the MACD continues to [..]

Technical Analysis – GBPJPY confined within a trading range; bulls picking up

Posted on January 31, 2020 at 9:19 am GMT

GBPJPY is in the process of pushing above the converged simple moving averages (SMAs) and upper Bollinger band around the 143.10 area. That said, the pair remains range bound – backed by the narrowing in the Bollinger bands – since 23 December 2019, between the 140.82 and 144.60 boundaries. The short-term oscillators support the very near-term improving picture. The MACD is above its red trigger line and has marginally creeped above the zero line, while the RSI is rising in [..]

Technical Analysis – USDCAD rises to 7-week high above 1.3200

Posted on January 31, 2020 at 7:47 am GMT

USDCAD is trading not too far from yesterday’s seven week high of 1.3220, which is the 38.2% Fibonacci retracement level of the down leg from 1.3664 to 1.2950. The bullish correction, which initially pivoted off the 21-month low of 1.2950, is approaching the one-year downtrend line. The technical indicators are confirming the positive structure on price. The stochastic oscillator is posting a bullish crossover within the %K and %D lines in the overbought zone. The MACD is strengthening its upside [..]

Technical Analysis – USDSEK paints a positive picture from the start of the year

Posted on January 30, 2020 at 4:27 pm GMT

USDSEK seems to be in the process of extending its gains off the end of year low of 9.293 and is currently testing the 9.652 point. The improving picture – which overran the 200- and 100-day simple moving averages (SMAs) – appears to be aided by the recent bullish crossover of the flattened 50-day SMA by the upward sloping 20-day one, and the momentum indicators. Within the momentum indicators, things look optimistic with the MACD accelerating in the positive region [..]

Technical Analysis – EURNOK buyers take full control pushing off 20 MA

Posted on January 30, 2020 at 11:53 am GMT

EURNOK seems to have found new life in its ascent after pivoting ahead of the 20-period simple moving average (SMA) and improving above the 10.116 hurdle, which is the 76.4% Fibonacci retracement of the down leg from 10.211 to 9.813. The RSI and the Stochastics are currently in overbought territory while the MACD, deep in the positive zone is rising above its red trigger line. The nearing bullish crossover of the 200-period SMA by the 100-period one and the upward [..]

Technical Analysis – NZDUSD fades from 2019-year top; heads for supportive trendline

Posted on January 30, 2020 at 9:12 am GMT

NZDUSD’s decline from the beginning of the year off the peak of 0.6754 has retraced underneath the 200-period simple moving average (SMA) and approached the 50.0% Fibonacci retracement of the up leg from 0.6239 to 0.6754. Aiding negative momentum is the downward sloping 50-, 100-period SMAs and the red Tenkan-sen line which has distanced itself below its blue Kijun-sen line. Additionally, the MACD is marginally below its red trigger line deep in the negative region, while the RSI is attempting [..]

Technical Analysis – USDJPY falls below 109.00; approaches uptrend line

Posted on January 30, 2020 at 8:10 am GMT

USDJPY is holding losses below 109.00, dropping from the seven-month high of 110.28 and below the 20- and 40-day simple moving averages (SMAs). Also, the pair entered the Ichimoku cloud and is trying to slip beneath the 23.6% Fibonacci retracement level of the up leg from 104.45 to 110.28. Technically, the price could lose more ground in the short-term as the RSI is changing direction to the downside and towards its 30 mark, while the MACD oscillator keeps weaking below the trigger line and has neared the zero line. However, the stochastics are warning – as are above the oversold [..]

Technical Analysis – NZDJPY eyeing to capitalize on further loss of ground

Posted on January 29, 2020 at 2:05 pm GMT

NZDJPY seems to have stalled its two weeks decline from the 73.33 top around the 50.0% Fibonacci retracement of the up leg from 68.86 to 73.52. It appears that sellers are in the process of pushing the market lower, something also aided by the downward sloping simple moving averages (SMAs) and the approaching second bearish crossover of the 200-day SMA. The short-term oscillators suggest that negative momentum is increasing. The MACD is above its red trigger line but has flattened [..]

Technical Analysis – CADJPY strictly capped below 50-period SMA and 23.6% Fibonacci

Posted on January 29, 2020 at 1:47 pm GMT

CADJPY found strong resistance obstacle on the 50-day simple moving average (SMA) and the 23.6% Fibonacci retracement level of the upward wave from 78.48 to 84.55 near 83.11 earlier today and questions are rising now about whether the market can sustain the downtrend line break in the coming sessions. The negative slope in the RSI, which runs comfortably below its 50 neutral mark is painting a bearish picture for the short-term trading. However, with the Stochastics searching for a bullish [..]

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