forex

Technical Analysis – USDMXN bears gather ammunition below the 200-SMA

Posted on September 9, 2019 at 2:39 pm GMT

USDMXN slashed in half the gains it earned from July 31 in four days, with the price diving under the eight-month peak of 20.251 and through all the simple moving averages (SMAs) and the Ichimoku cloud. The technical indicators are suggesting a revival of the down move, with the MACD falling back beneath its trigger in negative territory and the RSI pointing downwards below its 30 oversold mark. More importantly the 42-period SMA seems to be headed for a bearish [..]

Technical Analysis – GBPCHF searches for more gains above 50-day SMA

Posted on September 9, 2019 at 1:07 pm GMT

GBPCHF is looking for more buyers to sign up in the short-term as the MACD tries to grow in positive territory for the first time since April and the RSI is picking up steam in the bullish area. The market is currently making efforts to pierce July’s troughs around 1.2238, though only a bullish explosion above the previous high of 1.2367 would bring the four-month old downtrend in speculation. A step above 1.2535, which is the 50% Fibonacci of the [..]

Technical Analysis – EURUSD pullback denied by bears and 50.0% Fibonacci level

Posted on September 9, 2019 at 9:24 am GMT

EURUSD plotted a twenty-eight-month low of 1.0925 after a fall from June 25. The bulls tried for a correction up to the downtrend line, but their efforts were ceased by the 20-day simple moving average (SMA) and the 50.0% Fibonacci retracement level of the down leg from 1.1249 to 1.0925, of 1.1086. The sellers took control at the level and pushed down the price, rejuvenating the prior downward sentiment. The momentum indicators are signaling that the down move could pause [..]

Technical Analysis – GBPJPY completes double bottom pattern after 5-month downtrend

Posted on September 6, 2019 at 9:02 am GMT

GBPJPY’s bulls accelerated the price up to hover around the 131.80 level, which is the 23.6% Fibonacci retracement level of the down leg from 148.86 to 126.53. The rally yesterday completed a double bottom pattern after breaking above the neckline of 130.68, and now price has possibly paused for the very-short-term, between 131.60 and 132.15. The 50- and 100-period simple moving averages (SMAs), with their upward slopes, are headed to the 200-period SMA, whilst the MACD and RSI reflect bullish [..]

Technical Analysis – USDCAD slips back to retest 50% Fibonacci under 200-SMA

Posted on September 6, 2019 at 7:29 am GMT

USDCAD has done little to recover Wednesday’s free-fall that led the price under the 200-period simple moving average (SMA) in the four-hour chart and slightly below the 1.3200 level. The momentum indicators, however, are currently favoring a bearish-to-neutral picture for the short-term trading as the RSI is pointing towards its 30 oversold mark and the MACD is flattening under its red signal line. The steep negative slope in the red Tenkan-sen is another discouraging signal. The focus is now back [..]

Technical Analysis – USDSEK collapses below the uptrend line

Posted on September 5, 2019 at 1:38 pm GMT

USDSEK’s weekly gains that peaked at 17-year highs evaporated as the bears showed up and plunged the pair through the 50- and 100-period simple moving averages (SMAs). The move engulfed up support levels bringing the price to test the uptrend line. The technical indicators reflect the increasing bearish momentum in the near picture. The MACD has distanced itself from its red trigger line and declines further in the negative region, whilst the RSI has entered the oversold territory moving lower too. Traders [..]

Technical Analysis – NZDUSD bulls push above Ichimoku cloud and 100-SMA

Posted on September 5, 2019 at 9:51 am GMT

NZDUSD steady and 1 ½-month old decline below the capping 50-period simple moving average (SMA), saw the bulls on September 3 come on board. The price overcame the 50-period SMA and pushed through the Ichimoku cloud on Thursday to challenge the longer-term 100-period SMA and the inside swing low of 0.6376. Momentum indicators are backing a bullish view in the short-term. The MACD has distanced itself from its red trigger line and increased into positive territory. The RSI broke into [..]

Technical Analysis – AUDUSD cautiously bullish at a critical point

Posted on September 5, 2019 at 7:27 am GMT

AUDUSD is positioned at a crucial point in the four-hour chart. The pair closed marginally above the 200-period simple moving average (SMA) and managed to pierce the upper boundary of its one-month old range early on Thursday before pulling downward slightly. The MACD cautiously suggests a bullish bias for the short-term as the indicator is still in the positive direction but near former peaks. The RSI, however, seems to be slowing down above its 70 overbought mark and the fast-Stochastics [..]

Technical Analysis – AUDCAD capped by 0.9050 and 23.6% Fibo in a sideways move

Posted on September 4, 2019 at 3:39 pm GMT

AUDCAD plummeted aggressively from 0.9250 after a two-week period of producing red candles. Following the fall from the previous swing high of July 23 into a one-month trading range, the upside pressure hit a ceiling at the 0.9050 level. Positive momentum has picked up in the short-term. The MACD has distanced itself above its trigger line in the bearish region, and the RSI crossed marginally above the neutral level into bullish territory. Furthermore, the 21-day simple moving average (SMA) has [..]

Technical Analysis – EURJPY declines below 2017 low; bulls recoup losses

Posted on September 4, 2019 at 10:47 am GMT

EURJPY bulls took back five days of extended losses which stretched below the 2017 low of 116.45, moving the price above the mid-Bollinger band. The momentum indicators also reflect an increase in bullish directional momentum in the very short-term. The MACD has distanced itself above its red trigger line in the negative region, while the RSI moved out of the oversold area and crossed the 50-neutral level into bullish territory. Another bullish signal occurred as the price moved above the [..]

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