forex

Technical Analysis – GBPNZD halted by 200-day MA; maintains negative nature

Posted on January 16, 2020 at 3:18 pm GMT

GBPNZD continues its attempts to press lower even after the pair’s recent decline from the 2.0414 high, which was obstructed by the 200-day simple moving average (SMA). Providing some backing towards this view is the momentum indicators and the Tenkan-sen line, which has distanced itself below its flat Kijun-sen line. In the short-term oscillators, it looks as if negative momentum may be picking up. The MACD is in the negative zone, looking to return below its red trigger line, while [..]

Technical Analysis – USDTRY pulls back, but maintains broader upward trajectory

Posted on January 16, 2020 at 3:11 pm GMT

USDTRY posted some losses in recent sessions, after the bulls met resistance at the 5.985 top. Yet, the pair continues to print higher highs and higher lows above both its 50- and 200-day simple moving averages (SMAs), which keeps the overall outlook positive. For that to change, the bears would need to post a low beneath 5.68. Short term oscillators suggest that the latest retreat may continue in the immediate term. The RSI, already below 50, is pointing down – [..]

Technical Analysis – GBPNZD halted by 200-MA; maintains negative nature

Posted on January 16, 2020 at 3:05 pm GMT

GBPNZD continues attempts to press lower even after the pairs’ recent decline from the 2.0414 high, which was obstructed by the 200-day simple moving average (SMA). Providing some backing towards this view is the momentum indicators and the Tenkan-sen line, which has distanced itself below its flat Kijun-sen line. In the short-term oscillators, it looks as if negative momentum may be picking up. The MACD is in the negative zone, looking to return below its red trigger line, while the [..]

Technical Analysis – CHFJPY flies near 13-month high; positive in medium term

Posted on January 16, 2020 at 10:12 am GMT

CHFJPY has been in a flying mode over the last six days and today, it recorded a new 13-month peak of 114.30. The RSI entered the overbought territory and is still pointing up, while the MACD surpassed its trigger line with strong momentum. To the upside, the pair needs to overcome today’s top (114.30) to meet a key barrier near 114.60, registered on December 2018. The 118.05 mark could act as resistance too before a more important battle starts near 118.55, [..]

Technical Analysis – USDJPY bulls trapped below 110.00 after breaking resistance trendline

Posted on January 16, 2020 at 8:08 am GMT

USDJPY is stuck below the 110.00 level after closing above the strong resistance trendline stretched from mid-September 2018. In the short-term, the pair is expected to trade with caution as the slowdown in the RSI’s positive momentum, which is currently near its former peaks, and the negative intersection between the Stochastics in the overbought area, suggest that the bullish action may be running out of steam. If the price retreats, the resistance trendline should turn a support area to verify [..]

Technical Analysis – NZDUSD maintains bearish picture in very short-term

Posted on January 16, 2020 at 7:48 am GMT

NZDUSD traded with losses over the last two weeks, following the pullback off the five-month high of 0.6754 and now, it is creating a downward sloping channel. Currently, the price is trading slightly above the short-term simple moving averages (SMAs) near the return line of the channel. The RSI on the 4-hour chart is missing direction in positive area, while the MACD oscillator is moving higher, approaching the zero line. Also, the red Tenkan-sen keeps flattening below the blue Kijun-sen line, reducing chances for [..]

Technical Analysis – EURCHF tumbles towards 33-month low; negative outlook at play

Posted on January 15, 2020 at 10:17 am GMT

EURCHF is holding to losses for the third week in a row, dropping to a 33-month low of 1.0758 earlier today. The sharp sell-off has driven the pair beneath the six-month trading range of 1.0810 – 1.1055, turning the outlook from neutral-to-bearish. In the very short-term, the market could maintain a downward move if the RSI keeps moving in the oversold zone and the MACD extends its momentum below the trigger line. Regarding the trend, the 20-day simple moving average (SMA) continues to lose [..]

Technical Analysis – AUDUSD retreats below short symmetrical triangle

Posted on January 15, 2020 at 8:34 am GMT

AUDUSD is slipping below a short symmetrical triangle formed between the 20- and the 50-period simple moving averages (SMAs) in the four-hour chart. However, the fact that the 20-period SMA is preparing to cross above the 50-period SMA is still sending some possible trend signals if completed. In momentum indicators, signals remain neutral to bearish as the RSI is pointing downwards below 50, while the MACD keeps flattening around its red signal line. Should sellers dominate below the 0.6880 restrictive [..]

Technical Analysis – EURJPY hovers below 6-month peak; holds in ascending channel

Posted on January 15, 2020 at 7:32 am GMT

EURJPY has been trading within an upward sloping channel after the rebound on the 28-month low of 115.85, reached on September 2019. Currently, the price is trading close to yesterday’s six-month high of 122.75, having pulled back slightly. The near-term bias is looking neutral-to-bullish as the RSI is flatlining above the 50-neutral level, while the MACD oscillator posted a positive crossover within its trigger line above the zero area. Moreover, the bullish crosses within the 20- and 40-simple moving averages (SMAs) and [..]

Technical Analysis – CADJPY remains positive despite pressure from sellers

Posted on January 14, 2020 at 10:32 am GMT

CADJPY is fading following attempts to close a session above the 84.34 resistance from April 2019. Despite the overwhelming positive sentiment – reflected in the upward slopes of the Ichimoku lines and the 20-, 50- and 100-day simple moving averages (SMAs) – the technical indicators suggest a slight weakening in the positive direction. Technically, the MACD, in the positive zone, is flat above its red trigger line, while the RSI, in the bullish region has slightly subsided. Moreover, the Stochastics reflect [..]

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