forex

Technical Analysis – AUDJPY consolidates, but picture still positive

Posted on June 30, 2020 at 11:19 am GMT

AUDJPY has been confined within a narrow range in recent weeks, between 74.40 and 72.70. Yet, the bigger picture is still bullish as the pair remains above a three-month upside support line and the price structure still consists of higher peaks and higher troughs. What’s more, the 50-day simple moving average (SMA) looks ready to cross above the 200-day one, forming a so-called ‘golden cross’, which would be another positive sign. Short-term oscillators don’t tell us much about the next [..]

Technical Analysis – AUDJPY consolidates, but picture still positive

Posted on June 30, 2020 at 11:11 am GMT

Technical Analysis – EURGBP jumps above 0.9100, continues upward trend

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

EURGBP levitated higher this week, continuing the pattern of higher highs and higher lows on the daily chart above an uptrend line drawn from the lows of February. The pair is also trading above all its simple moving averages (SMAs), all of which suggests that the outlook is bullish. Short-term oscillators mostly concur with that assessment, as the RSI is already positive and is hovering just below its 70 line, while the MACD is above both its zero and red [..]

Technical Analysis – AUDJPY pulls back, but uptrend still in play

Posted on June 23, 2020 at 12:47 pm GMT

AUDJPY retreated recently after touching a one-year high near 76.80, but the pair found fresh buy orders at 72.70 and rebounded again. The structure of higher highs and higher lows on the daily chart remains intact, and the price is still trading above a three-month upside support line. If the 50-day simple moving average (SMA) crosses above the 200-day one soon, completing a so-called ‘golden cross’, that would be another bullish signal. Short-term oscillators like the RSI and the MACD [..]

Technical Analysis – USDCHF rebounds, but downtrend still in play

Posted on June 17, 2020 at 1:34 pm GMT

USDCHF recovered somewhat after touching a three-month low of 0.9375, but the rebound has been capped by the 50-period simple moving average (SMA) on the four-hour chart, and negative forces seem to have taken over again. The broader picture is still bearish, with the pattern of lower highs and lower lows not broken by the latest rebound. Momentum oscillators like the RSI and the MACD are both near their neutral levels, not revealing much about the next directional wave. If [..]

Australian jobs data: A risk for the high-flying aussie? – Forex News Preview

Posted on June 17, 2020 at 12:02 pm GMT

The latest employment numbers out of Australia will hit the markets at 01:30 GMT Thursday and forecasts point to more job losses, though that may be more of a counting issue than a reflection of real economic conditions. The high-flying aussie could spike lower if the data disappoint, but its broader direction will hinge mainly on risk sentiment. On that front, much will depend on how the global virus picture evolves, especially in America. Statistical shenanigans? Australia is expected to [..]

Technical Analysis – EURGBP breaks sideways pattern, but can it break out?

Posted on May 26, 2020 at 9:44 am GMT

EURGBP spent more than a month trapped in a narrow range with a lower boundary at 0.8680 and an upper end at 0.8860, before breaching it to the upside. Yet, the upside move seems to have encountered powerful resistance near the 0.9000 handle and the pair has turned lower again, igniting doubts about whether this is a real breakout. Indeed, short-term oscillators reflect fading upside momentum, with the RSI pointing down within positive territory and the MACD looking ready to [..]

Technical Analysis – AUDJPY pulls back, but still in positive mode

Posted on May 22, 2020 at 12:01 pm GMT

AUDJPY inched lower in the last couple of sessions, after touching a 6-week high at 71.00, but the series of higher highs and higher lows is still intact on the daily chart, keeping the broader outlook positive. Endorsing the improved sentiment, the 50-day simple moving average (SMA) has turned higher, while the pair is also trading above an upside support line. The latest pullback is also reflected in the RSI, which has turned lower but remains above its 50 line, [..]

UK PMIs unlikely to rescue pound from mounting risks – Forex News Preview

Posted on May 19, 2020 at 1:40 pm GMT

In Britain, the preliminary PMIs for May will hit the markets at 08:30 GMT Thursday, ahead of retail sales for April at 06:00 GMT on Friday. The PMIs are expected to rise, but to remain deep within contractionary waters, while retail sales are primed for a record collapse. As for the pound, it is being battered from all sides. The UK economy will reopen very slowly, investors are worried that today’s exploding deficit will result in austerity tomorrow, the BoE [..]

Fed meeting: Taking a breather – Forex News Preview

Posted on April 28, 2020 at 10:40 am GMT

The Fed concludes its meeting at 18:00 GMT on Wednesday and having thrown everything including the kitchen sink to protect the US economy in the battle against the virus, no action is expected this time. As such, the market reaction may depend mainly on Chairman Powell’s remarks half an hour later. From a risk-management perspective, Powell has more incentive to soothe investors’ nerves and hint that more stimulus is possible, which could briefly hurt the dollar. Preventing a financial crisis [..]

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