forex

Technical Analysis – GBPAUD hits fresh 3 ½-year high; may flatten in short-term

Posted on December 2, 2019 at 11:58 am GMT

GBPAUD stretched to a fresh 3 ½-year high of 1.9150 on Friday ahead of the Reserve Bank of Australia policy meeting early on Tuesday. The bullish action could take a breather in the short-term according to the RSI which is pointing towards its 50 neutral mark. The MACD, which looks ready to cross under its red signal line, backs this view as well. The 1.8880 mark could immediately curb any potential downside correction and deter the price from sliding towards 1.8720, which [..]

Technical Analysis – EURUSD capped by 40-day SMA; bearish cross may restart descent

Posted on December 2, 2019 at 9:31 am GMT

EURUSD found some difficulty in pushing below the 1.0990 support, returning the price back above the 1.1005 level, which is the 23.6% Fibonacci retracement of the down leg from 1.1411 to 1.0878. The picture seems negative overall, given the downward slopes in the 200-day simple moving average (SMA), as well as the 100-day one and 20-day mid-Bollinger band. That said, negative directional momentum seems to have stalled, something reflected by the flat 40-day SMA and the short-term oscillators. The MACD, [..]

Technical Analysis – EURGBP grinds lower, but takes a breather near 0.8500

Posted on November 29, 2019 at 11:24 am GMT

EURGBP reversed course in August after touching a decade-high of 0.9325, and has since been trending lower, with price action consisting of lower peaks and lower troughs in recent months. Yet, the bears seem to have lost their mojo near the 0.8500 handle, which also halted the move lower earlier this year. A clear move below that area is needed to re-energize the sellers. Short-term oscillators are in broad agreement that downside momentum is losing steam. The RSI rebounded after [..]

Technical Analysis – GBPJPY attempts break above unwavering neutral market

Posted on November 29, 2019 at 10:51 am GMT

GBPJPY’s recent bounce off the 200-period simple moving average (SMA) pushed the price above the other SMAs but was halted at the 141.72 upper boundary of the range, where momentum seems to have faded again. The pair continues to be confined in a sideways move between 138.85 and 141.72, which commenced on October 17. The short-term oscillators reflect the stall in the positive directional momentum. The MACD, in the positive region, has slipped below its red trigger line, while the [..]

Technical Analysis – USDCAD switches to neutral above tentative up trendline

Posted on November 29, 2019 at 9:05 am GMT

USDCAD shifted north to re-challenge the 1.3300 level after the bottom of the Ichimoku cloud halted the selling pressure but the positive traction was not strong enough to send the price above that mark. In momentum indicators, the RSI and the MACD are currently painting a neutral picture for the short-term as long as the former moves around its 50 neutral mark and the latter fluctuates around its zero and signal line. The lower surface of the cloud and the tentative up trendline stretched [..]

Technical Analysis – AUDJPY trades above uptrend line; cautiously positive in near term

Posted on November 28, 2019 at 2:50 pm GMT

AUDJPY has been posting higher highs and higher lows above a medium-term uptrend line since late August, when the pair touched 69.95, its lowest level in a decade. The short-term outlook therefore seems to have turned positive, though a decisive break above 75.60 is needed to confirm that. Short-term oscillators paint an entirely flat picture, providing no signals about directional momentum. The RSI is flat at its neutral level, while the MACD is hovering near both its zero and trigger [..]

Technical Analysis – USDJPY maintains bullish sentiment; ascent eases at 61.8% Fibonacci

Posted on November 28, 2019 at 12:56 pm GMT

USDJPY has settled at the 109.35 level, which is the 61.8% Fibonacci retracement of the down leg from 112.39 to 104.64. The positive picture is intact despite the stalling in the price, which is aided by the flattened Kijun-sen line and easing in the short-term oscillators. The MACD is above its red trigger line deep in the positive zone, while the RSI, currently in the overbought territory, is turning marginally up at the 70 level. Moreover, the return of the [..]

Technical Analysis – NZDUSD remains bullish; moves sideways around 23.6% Fibonacci

Posted on November 28, 2019 at 8:49 am GMT

NZDUSD has found support from the 0.6400 level, which is the 23.6% Fibonacci retracement of the up leg from 0.6202 to 0.6464, sustaining the current sideways move between 0.6435 and 0.6390. The short-term oscillators suggest that positive momentum has dried up, something also backed by the flattened 100-period simple moving average (SMA). The MACD is hovering just below its red trigger line, though it remains above zero, as is the RSI, which lies marginally above its neutral mark. However, the bullish [..]

Technical Analysis – AUDUSD eases sideways as 23.6% Fibonacci continues to halt declines

Posted on November 27, 2019 at 12:58 pm GMT

AUDUSD’s descent seems to have paused yet again at the 0.6767 level, which is the 23.6% Fibonacci retracement of the down move from 0.7081 to 0.6670, turning the pair sideways. Further backing this view is the squeeze in the Bollinger bands and the flattening in the 50- and 200-period simple moving averages (SMAs). The short-term oscillators reflect the stalling in the negative outlook. The MACD remains in the negative area but above its red trigger line, while the RSI indicates [..]

Technical Analysis – EURJPY moves sideways around 120.00 mark; cautiously positive

Posted on November 27, 2019 at 8:43 am GMT

EURJPY looks to be undecided over the last two weeks, following the decline from the high of 121.46. Furthermore, momentum seems to have evaporated, something also backed by the 40- and 100-period simple moving averages (SMAs), which are turning slightly sideways. The short-term oscillators, although suggest a dry up in directional momentum, are reflecting a marginal improvement in the positive picture. The MACD is above its red trigger line and has just moved above zero into the positive zone, while [..]

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