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Technical Analysis – AUDUSD pauses bearish move near 0.6850; remains in bullish channel

Posted on January 8, 2020 at 7:13 am GMT

AUDUSD found a strong resistance obstacle on the six-month high of 0.7030 on December 31 and subsequently completed four consecutive red days. The price dropped towards the 20-day simple moving average (SMA) and the 50.0% Fibonacci retracement level of the upleg from 0.6670 to 0.7030, near 0.6850. Furthermore, the pair remains within the upward sloping channel, created from the bottom on October 1. Looking at the technical indicators, the RSI and the stochastic seem to be flat in the negative [..]

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Technical Analysis – EURNZD corrects higher; tests the bigger negative picture

Posted on January 7, 2020 at 4:21 pm GMT

EURNZD’s gradual advancement in the short-term – aided by the momentum indicators and the upward slope and bullish crossover of the 20-period simple moving average (SMA) – looks to be eyeing the restrictive downtrend line and the 200-period SMA. Despite the slight weakening in positive momentum, the short-term oscillators still lean towards the positive picture. The MACD is still above its red trigger line in the positive zone, while the RSI, despite dropping, remains in the bullish region and above [..]

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Technical Analysis – USDNOK sustains a bearish attitude, despite improving oscillators

Posted on January 7, 2020 at 1:54 pm GMT

USDNOK has stalled around the 8.7860 level – which is the 61.8% Fibonacci retracement of the up leg from 8.4664 to 9.3036 – something also reflected by the flattening of the Kijun-sen line. The short-term oscillators reflect a recent weakening in negative territory, suggesting a pause in the bearish market. The MACD is standing below its red trigger line and is flattening, while the rising RSI looks to exit the overbought region. However, the forthcoming bearish crossover of the 100-day [..]

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Technical Analysis – USDNOK sustains a bearish attitude, despite improving oscillators

Posted on January 7, 2020 at 1:28 pm GMT

USDNOK has stalled around the 8.7860 level – which is the 61.8% Fibonacci retracement of the up leg from 8.4664 to 9.3036 – something also reflected by the flattening of the Kijun-sen line. The short-term oscillators reflect a recent weakening in negative territory, suggesting a pause in the bearish market. The MACD is standing below its red trigger line and is flattening, while the rising RSI looks to exit the overbought region. However, the forthcoming bearish crossover of the 100-day [..]

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Technical Analysis – GBPUSD cautiously positive despite weakened directional momentum

Posted on January 7, 2020 at 9:42 am GMT

GBPUSD looks to be undecided with its recent lower highs and higher lows. That said, buyers are attempting to drive the pair back up in efforts to realign with the bigger positive outlook. The short-term oscillators suggest a stall in directional momentum but lean towards the positive picture. The MACD, in the positive zone is marginally above its red trigger line, while the RSI is rising, slightly above its neutral mark. Noteworthy, are the upward sloping simple moving averages (SMAs) [..]

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Technical Analysis – EURUSD holds below 6-month high; ascending in short-term

Posted on January 7, 2020 at 8:01 am GMT

Since the beginning of the year, EURUSD has come under renewed selling pressure, dropping below the six-month high of 1.1240, reached on December 31. However, the pair remains above the 23.6% Fibonacci retracement level of the upward wave from the 28-month low of 1.0880 to 1.1240, around 1.1155 as well as above the ascending trend line, which has been holding since October 1. Looking at momentum oscillators on the daily chart, they suggest further advances may be on the cards [..]

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Technical Analysis – NZDJPY’s medium-term positive picture being tested by sellers

Posted on January 3, 2020 at 12:12 pm GMT

NZDJPY corrects below the 20-day simple moving average (SMA) after slightly breaking above the previous high from July 22 of 2019 of 73.23, putting the bigger positive picture under pressure. The short-term oscillators suggest that the negative momentum is strengthening. The MACD, although deep in the positive region, is falling below its red trigger line. Moreover, the downward sloping RSI has reached its neutral mark, while the %K accelerates below its %D line. Worth mentioning is the nearing of a [..]

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Technical Analysis – GBPJPY sellers take control in the medium-term picture

Posted on January 3, 2020 at 10:01 am GMT

GBPJPY is attempting to push below the 50-day simple moving average (SMA) and swing low residing at the 141.40 and 141.15 levels respectively. The negative move seems to be aided by the momentum indicators and the slight downturn in the 20-day SMA. The short-term oscillators reflect a pause in the market but lean towards a negative picture. The MACD, in the positive area, is below its red trigger line nearing the zero line, while the downward sloping RSI has slipped [..]

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Technical Analysis – GBPJPY sellers take control in a bigger positive picture

Posted on January 3, 2020 at 9:15 am GMT

GBPJPY is attempting to push below the 50-day simple moving average (SMA) and swing low residing at the 141.40 and 141.15 levels respectively. The negative move seems to be aided by the momentum indicators and the slight downturn in the 20-day SMA. The short-term oscillators reflect a pause in the market but lean towards a negative picture. The MACD, in the positive area, is below its red trigger line nearing the zero line, while the downward sloping RSI has slipped [..]

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Technical Analysis – USDCAD struggles near 21-month low after dramatic slump

Posted on January 3, 2020 at 8:13 am GMT

USDCAD continues the strong sell-off over the last six days, hitting a new 21-month low of 1.2950, at the end of last year. After the bearish cross within the 20- and 40-simple moving averages (SMAs), the price started a downside rally, falling below the 1.3015 – 1.3040 key area. However, from a technical viewpoint, the stochastic oscillator is ready to create a bullish crossover within the %K and %D lines in the oversold zone, suggesting a pause of the negative [..]

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