forex

Technical Analysis – EURCHF turns higher after recording 33-month bottom

Posted on January 29, 2020 at 11:03 am GMT

EURCHF reversed higher on Tuesday after the slip to a new 33-month low of 1.0664. In the longer timeframe, the price is still standing in a strong bearish mode since April 2019. From the technical view point, the RSI broke the descending line within the oversold region and exited/jumped above the 30 level. Moreover, the MACD oscillator is posting a bullish crossover with its trigger line in the negative area, suggesting a possible pullback in the short-term. The 20-day simple moving average [..]

Technical Analysis – EURJPY sustains bearish picture despite recent consolidation

Posted on January 29, 2020 at 9:40 am GMT

EURJPY has stalled around 119.80 after plunging from the six-and-a-half month high of 122.86 on January 16. The pair is currently capped by the 20-period simple moving average (SMA) and looks to be loading for another push down. Also backing this view are the downward sloping 20-, 50- and 100-period SMAs and the near completion of a bearish crossover of the 200-period SMA by the 100-period one. The short-term oscillators suggest that negative momentum may be picking up. However, the [..]

Technical Analysis – AUDUSD posts bullish doji after 10-day negative run

Posted on January 29, 2020 at 7:30 am GMT

AUDUSD plunged to a fresh three-month low of 0.6736 on Tuesday, creating a bullish doji candle, which is suggesting a possible rebound in the market on the short-term timeframe. The price is creating a pullback after a ten-day negative run, confirmed by the technical indicators. The stochastic oscillator is turning higher and the %K and the %D lines are posting a bullish crossover in the oversold zone. In addition, the RSI is pointing up marginally above the 30 level. Significant [..]

Fed to stay on hold, but adopt a more cautious tone? – Forex News Preview

Posted on January 28, 2020 at 4:57 pm GMT

The Federal Reserve is almost certain to keep interest rates unchanged when it wraps up its policy meeting on Wednesday at 19:00 GMT. If there is any change in tone from Chairman Powell and his colleagues, it might be towards a more cautious narrative, which could weigh on the dollar a little. That said, the currency’s overall outlook still seems positive, for a lack of alternatives. US GDP growth data for Q4 are also due out on Thursday, at 13:30 [..]

Technical Analysis – GBPUSD faces symmetrical triangle; broader trend is bullish

Posted on January 28, 2020 at 7:53 am GMT

GBPUSD is lacking direction over the last five weeks, creating a symmetrical triangle in the short-term after reversing from the 14-month high of 1.3515. When looking at the bigger picture, the pair has a clear bullish trend since September 2019 but technical indicators are confirming the recent neutral mode. The RSI is declining slightly below the 50 neutral level, while the MACD oscillator is failing to strengthen its momentum near the zero line. Currently, the price is hovering below the 20- and 40-simple moving averages (SMAs) [..]

Technical Analysis – USDCNH appreciates despite looming medium-term downtrend

Posted on January 27, 2020 at 2:51 pm GMT

The Renminbi’s recent push up from 6.8440 has returned the pair to levels seen at the end of last year. Buyers are attempting to breach an important region from 6.9790 to 6.9865 on the daily timeframe, where a bearish crossover of the 200-day simple moving average (SMA) by the 50-day one currently resides. The short-term oscillators suggest positive momentum is strengthening, backing the improving picture in the price action. The MACD is strengthening above its red trigger line in the [..]

Technical Analysis – EURUSD reaches 8-week low; more losses are expected

Posted on January 27, 2020 at 7:40 am GMT

EURUSD has been underperforming in the past two days, breaking the almost four-month olds ascending trend line to the downside. The price reached an eight-week low around 1.1019, distancing itself from the Ichimoku cloud and the short-term moving averages in the daily timeframe. Momentum indicators are pointing to a negative bias in the short term as the RSI is hovering above its 30 oversold mark but below 50 and the stochastic oscillator is flattening in the bearish territory, both confirming the recent downward [..]

Technical Analysis – GBPCHF looks undecided after its pullback off the December 2019 high

Posted on January 24, 2020 at 1:06 pm GMT

GBPCHF’s correction from the seven-month high of 1.3307 bounced off the 200-day simple moving average (SMA) and is now confined between the downward sloping 40-day SMA and the flat 20-day one, located at 1.2682, which is the 38.2% Fibonacci retracement of the up leg from 1.1671 to 1.3307. The short-term oscillators are reflecting mixed signals in momentum. The MACD in the negative zone has moved above its red trigger line, while the Stochastics’ %K line has deflected off the 80 [..]

Technical Analysis – EURNZD in a slippery slope; bears look at 5-month low

Posted on January 24, 2020 at 11:31 am GMT

EURNZD is holding to losses, slipping beneath the short-term moving averages in the daily timeframe. The strong sell-off day on Thursday is driving the pair towards the five-month low of 1.6615. The MACD is heading lower and is approaching the red trigger line for a bearish cross, strengthening its bearish momentum, while the RSI dropped below the 50 level with aggressive movement. Should the price decisively close below 1.6615, this could extend the downtrend towards the 1.6520 barrier acting as [..]

Technical Analysis – EURJPY sell-off finds support at trendline; golden cross favors uptrend

Posted on January 24, 2020 at 8:29 am GMT

EURJPY could not lift the 122.86 bar last week and reversed south to test the ascending trendline drawn from the 2 ½-year low of 115.85. The falling RSI which has crossed under its 50 neutral mark suggests that the bearish bias has not faded yet. However, with the Stochastics already located within the oversold area and the price trading near the supportive trendline, an upside correction would not be a surprise. Should the bears break the trendline, the 120.18 level, [..]

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