forex

Technical Analysis – EURJPY rebounds from 2½-year low, but picture still negative

Posted on August 29, 2019 at 2:51 pm GMT

EURJPY hit a new 2½-year low earlier this week at 116.55 but found fresh buy orders and recovered a small portion of its losses. That said, the broader outlook remains negative as the price structure still consists of lower highs and lower lows, while the pair is also trading well below its 50- and 100-day simple moving averages (SMAs). Short-term momentum oscillators suggest that the current rebound may continue for now. The RSI – although in bearish territory – is [..]

Technical Analysis – USDJPY consolidates; ascent restricted by inside swing & 21-SMA

Posted on August 29, 2019 at 10:08 am GMT

USDJPY has consolidated into a sideways market over the last three weeks, after falling from near the 100-day simple moving average’s (SMA). The pair has been unable to close above the 106.77 resistance level despite multiple attempts, and now the bulls are at it again. The MACD is above its red trigger line and in the negative zone, reflecting weakening downside momentum. However, the RSI is hovering just below the 50 level, concurring with the bigger bearish picture of the [..]

Technical Analysis – NZDUSD sinks near 4-year lows; downtrend looks unstoppable

Posted on August 29, 2019 at 7:03 am GMT

NZDUSD came under fresh sell-off on Thursday in the wake of downbeat business data, with the price stretching its two-year old downtrend to an almost four-year low of 0.6304. Technical signals remain bearish.The Tenkan-sen line continues to move with a steep negative slope well under the blue Kijun-sen line, while the RSI shows no appetite of leaving the oversold territory, both flagging further weakness for the market. A crucial support level is located at 0.6235, where the market bottomed in 2015. [..]

Technical Analysis – CADJPY struggles for direction; remains in bearish trajectory

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

CADJPY is being capped by the 20-day moving average (MA), having rebounded from Monday’s 7½-month low of 78.48. Prices are currently hovering around the 23.6% Fibonacci retracement of the July-August downleg at 79.60. But the next move could be in either direction as the momentum indicators are giving mixed signals. The stochastic oscillator is pointing to ongoing positive momentum as both the %K and %D lines are rising, though looking at the RSI, downside risks are evident as it has [..]

US core PCE inflation of little interest as a rate cut looks a done deal – Forex News Preview

Posted on August 28, 2019 at 2:37 pm GMT

Trade policy is not the Fed’s responsibility, but inflation definitely is, and the US central bank will act appropriately to elevate its favorite price measure back to its target. On Friday at 1230 GMT, July’s core PCE index will likely call for further monetary easing. The dollar, though, may shrug off the data and keep the focus on trade headlines as a rate cut is fully priced in by the markets. Speaking at the Jackson hole annual symposium, Fed chair [..]

Technical Analysis – AUDUSD remains sideways; multi-year lows in sight

Posted on August 28, 2019 at 8:41 am GMT

AUDUSD has endured a 20-day trading range with upper boundary of 0.6820 and a lower boundary of 0.6734. The bears seem to be in control, keeping the price closer to the lower boundary, but have yet to close below it. It is worth mentioning that the Tenkan-sen has declined, distancing itself from the Kijun-sen, tilting more to a revival of the down move. The momentum indicators are also implying that the negative directional momentum could pick up, bringing a new [..]

Technical Analysis – GBPJPY puts upward pattern in standby mode

Posted on August 28, 2019 at 7:22 am GMT

GBPJPY sat on the sidelines after confirming the start of an uptrend by creating a higher low at 127.45 and a higher high at 130.68 in the four-hour chart. The pair is likely to stay uneventful in the short-term as the RSI and the Ichimoku indicators are flattening and the MACD is rising slowly. However, the fact that the technical measures remain in bullish territory and the 20-period simple moving average (SMA) holds above the 50-period SMA suggests that the positive bias, [..]

Technical Analysis – EURTRY sellers try to correct even lower after spike

Posted on August 27, 2019 at 2:56 pm GMT

EURTRY has been in an uptrend after the double bottom which occurred in the first ten days of August. The rally stretched the pair north near the area of the gap from July 1. Following a flash crash the price peaked at 6.7059, where the sellers dominated, pulling the price back down to previous levels. The momentum indicators although in the bullish territory, are warning of a downwards corrective move as the MACD has declined below its red trigger line, [..]

Technical Analysis – GBPAUD tackles SMAs as they near completion of a bearish cross

Posted on August 27, 2019 at 1:59 pm GMT

GBPAUD rose over the last month and breached the 100- and 200-day simple moving averages (SMAs) to peak at 1.8335 on Monday. The sellers, however, came soon on board, managing to pull the price back below. Buyers are again looking for a move higher now, something also reflected by the momentum indicators. The MACD distanced itself further above its red trigger line as it entered positive territory, whilst the RSI is currently turning upwards and away from the 50-level. Despite [..]

Australian capex data eyed as trade war flares up – Forex News Preview

Posted on August 27, 2019 at 12:35 pm GMT

The ever-escalating trade conflict between Washington and Beijing has left deep scars on the aussie, both directly by clouding the outlook for Australia’s export-heavy economy and indirectly by making the RBA slash rates twice this year already. The nation’s capital expenditure data for Q2 may distract investors on Thursday at 01:30 GMT, but the bigger driver for the currency will be how the trade war evolves – and things aren’t looking good on that front. The aussie has been one [..]

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