forex

Technical Analysis – AUDUSD’s ascent dwindles ahead of downtrend line

Posted on December 4, 2019 at 10:16 am GMT

AUDUSD seems to be turning neutral – in a bigger negative picture – as it nears the downtrend line drawn from December 4. The price is currently resting at the 0.6810 point where the mid-Bollinger band, 50- and 100-day simple moving averages (SMAs) have converged, suggesting that the price may linger sideways to encounter the downtrend line. Further backing the undecided picture are the mixed signals from the SMAs and short-term oscillators. The MACD, in the negative zone has moved [..]

Technical Analysis – EURGBP capped by 20-day SMA; short-term bias bearish-to-neutral

Posted on December 4, 2019 at 8:47 am GMT

EURGBP started the month on the downside as buyers could not close above the 20-day simple moving average (SMA) that has been restricting upside corrections over the past four weeks. The short-term bias is currently viewed as bearish-to-neutral as the RSI looks to be distancing itself from its 30 oversold mark to reach its 50 neutral mark, while in Ichimoku indicators, the red Tenkan-sen line is stabilizing slightly below the blue Kijun-sen. On the downside there is a strong support [..]

Technical Analysis – EURGBP caped by 20-day SMA; short-term bias bearish-to-neutral

Posted on December 4, 2019 at 8:42 am GMT

Bank of Canada likely to postpone a rate cut on Wednesday – Forex News Preview

Posted on December 3, 2019 at 4:43 pm GMT

The trade environment is not friendly for the Canadian economy and therefore for the loonie at the moment but the Bank of Canada will likely decide to stand pat on interest rates when it meets on Wednesday at 15:00 GMT as some encouraging signs from the domestic economy allow the Bank to postpone the decision for now. November’s employment report could come to justify any rate cut delay on Friday at 13:30 GMT. It’s not time for a rate cut [..]

Technical Analysis – USDCHF breaks uptrend line, but negative bias not confirmed yet

Posted on December 3, 2019 at 3:14 pm GMT

USDCHF penetrated below a medium-term uptrend line drawn from the August lows, with the bears picking up significant momentum. However, the price structure on the daily charts still appears neutral, with trading action taking place between 1.0000 and 0.9840 in recent months. A clear close below the 0.9840 zone is needed to turn the bias negative. Short-term oscillators concur with the darkening picture. The RSI has pierced below its neutral 50 zone and is pointing lower, while the MACD – [..]

Technical Analysis – GBPNZD breaches key support; positive picture may be fading

Posted on December 3, 2019 at 1:59 pm GMT

GBPNZD sellers managed to penetrate below the key support level of 2.0020, which happens to be the 23.6% Fibonacci retracement of the up leg from 1.8275 to 2.0557, the high of May and where the 50-day simple moving average (SMA) presently lies. The strengthening negative momentum is backed by the declining 20-day SMA and its nearing bearish crossover of the flattening 50-day SMA. The short-term oscillators reflect some stalling but lean towards the downside. The MACD is below its red [..]

Technical Analysis – GBPUSD bulls prepare to challenge the 1.3011 peak

Posted on December 3, 2019 at 9:40 am GMT

GBPUSD while directionless is attempting a new push towards the five-month high of 1.3011, which is aided by the recent bullish crossover of the 200-day simple moving average (SMA) by the 50-day one and the rising slopes of the 50- and 100-day SMAs. The technical indicators suggest that positive momentum is improving. The RSI is rising in bullish territory, while the MACD – although still in the positive zone – is below its red trigger line but looks to move [..]

Technical Analysis – NZDUSD prints bullish inverse head and shoulder pattern

Posted on December 3, 2019 at 8:11 am GMT

NZDUSD run significantly above the neckline of the bullish inverse head and shoulder formation it has created around the 10 ½-year low of 0.6202 on Monday. The short-term bias is now looking cautiously bullish as the price is currently fluctuating around the upper Bollinger band and the RSI is looking ready to pierce above its 70 mark, both indicating that the market is likely trading near overbought waters. The 50% Fibonacci of 0.6496 of the downleg from 0.6789 to 0.6202 is the nearest support area [..]

Technical Analysis – GBPCHF remains bullish, although 1.2935 denies further gains

Posted on December 2, 2019 at 4:17 pm GMT

GBPCHF looks to be holding onto its positive stance despite deflecting off the 1.2935 resistance from May 21. Backing this, are the upward-sloping simple moving averages (SMAs) and the Ichimoku cloud. On the other hand, the pause upwards is aided by the flat Tenkan-sen and Kijun-sen lines as well as the short-term oscillators, which reflect easing in the positive momentum. The MACD, in the positive region has dipped below its red trigger line, while the RSI has retreated before claiming [..]

Technical Analysis – EURNZD loses further ground as bearish bias endures

Posted on December 2, 2019 at 2:51 pm GMT

EURNZD is currently encountering some upside pressure at the 1.7000 barrier, following the one-and-a-half month decline from the peak of 1.7698. Nevertheless, bearish signals indicate that the downfall may have some ways to go. The short-term oscillators suggest that negative momentum is strengthening. The MACD, in the negative zone is declining below its red trigger line, while the RSI has slipped into the oversold territory. Moreover, the ADX reflects a strong negative trend in place, as do the downward sloping [..]

Legal disclaimer: The material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instruments. XM accepts no responsibility for any use that may be made of these comments and for any consequences resulting in it. No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. The research and analysis does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it.

It has not been prepared in accordance with legal requirements designed to promote the independence of research, and as such it is considered to be marketing communication. Although we are not specifically constrained from dealing ahead of the publication of our research, we do not seek to take advantage of it before we provide it to our clients. We aim to establish, maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. We operate a policy of independence, which requires our employees to act in our clients’ best interests and to disregard any conflicts of interest in providing our services.

CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losing all of your invested capital, so please make sure that you fully understand the risks involved.

How can we help?

Live Chat Terms