forex

Technical Analysis – AUDUSD climbs higher but indicators are still weak

Posted on April 10, 2019 at 6:29 am GMT

AUDUSD is paring the limited losses that posted on Tuesday, but the technical indicators suggest a continuation of the recent neutral situation in the short-term. The MACD oscillator entered the positive territory, surpassing the trigger line, however, it is still moving with weak momentum. Furthermore, the RSI indicator is pointing marginally up near the neutral threshold of 50. Both are suggesting that significant gains are less likely to occur. It is worth mentioning that the price is still developing within the [..]

Technical Analysis – GBPAUD slips below bearish cross of short-term SMAs

Posted on April 9, 2019 at 1:29 pm GMT

GBPAUD extended the last four days’ losses and is currently trading not far above a six-week low around the 38.2% Fibonacci retracement level of the upward movement from 1.7220 to 1.8860. The RSI turned lower after entering the 50 level and it continues to head lower in support of a negative short-term picture. The bias in the very-short-term also looks bearish as indicated by the stochastics: the %K and %D lines are negatively aligned and are both moving further down. Further declines may [..]

Technical Analysis – USDCHF continues bullish action in short and long terms

Posted on April 9, 2019 at 11:45 am GMT

USDCHF is heading upwards after it posted a strong rebound on the 23.6% Fibonacci retracement level of the upleg from 0.9185 to 1.0130 around the 0.9900 psychological level. Technically, the red Tenkan-sen line is pointing north, indicating a bullish action, however, the RSI is moving near the neutral threshold of 50. Immediate resistance is coming from the 40-simple moving averages (SMA) currently around 1.0000, which is standing near the upper surface of the Ichimoku cloud. A jump above these lines could shift traders’ eyes at the 20-month [..]

Technical Analysis – GBPUSD jumps higher as ascending trend line looks supportive

Posted on April 9, 2019 at 6:36 am GMT

GBPUSD is continuing yesterday’s rebound on the medium-term ascending trend line, which has been standing since December 2018 and at the same time confirming another touch at the 38.2% Fibonacci retracement level of the upleg from 1.2390 to 1.3380, around the 1.3000 key level. The short-term bias looks positive as the RSI keeps gaining ground slightly below the neutral threshold of 50. The 40- and then the 20-day simple moving averages (SMA) currently near the 23.6% Fibonacci mark of 1.3150 [..]

Technical Analysis – EURNZD extends bullish actions despite overstretched stochastic

Posted on April 8, 2019 at 1:44 pm GMT

EURNZD reached overbought levels according to the stochastic oscillator as the price hovers above the 23.6% Fibonacci retracement level of the downward movement from 1.7925 to 1.6885, around 1.6675, recording a fresh one-month high, today. While the aforementioned technical indicator continues to stand above 80, mirroring the market’s bullish behavior over the past couple days, it is also flagging that a recovery could reemerge in the short term. The RSI is also holding above its 50 level, which supports the positive view as well, while [..]

Technical Analysis – USDJPY eyes 111.57 to return to bullish action in short term

Posted on April 8, 2019 at 8:57 am GMT

USDJPY failed to close above the 112 level on Friday once again, with the price retreating below the 20-period moving average in the four-hour chart. The fast stochastics, however, provide optimism that the pair could recoup some losses as the red %K line and the blue %D line approach oversold territory (below 20). The RSI looks to be improving at the current time, though, as long as it holds close to its 50 neutral mark, any gains could appear limited [..]

Technical Analysis – EURUSD makes soft rebound above 21-month low

Posted on April 8, 2019 at 6:23 am GMT

EURUSD moved lower in the previous week but it managed to hold above the 21-month low of 1.1175, remaining in a downward sloping channel over the last three months. Prices hold below the red Tenkan-sen line, which is pointing down, suggesting a bearish view in the short-term. Moreover, the 20-and 40-simple moving averages (SMAs) are following the price action while the technical indicators are endorsing an opposite picture. Specifically, the MACD oscillator is heading slightly higher in the negative zone [..]

Technical Analysis – USDCAD hovers into Ichimoku cloud; neutral in short term

Posted on April 5, 2019 at 6:01 am GMT

USDCAD, has gained some momentum this week and rebounded around the 1.3295 support for the third time since the start of March and is trying set to exit the Ichimoku cloud. Moreover, the price found strong obstacle around the 20-day simple moving average (SMA), while it is holding above the 23.6% Fibonacci retracement level of the upleg from 1.2250 to 1.3663, around 1.3230. However, in the short-term, the pair hovers within a narrow range of 1.3295 – 1.3465. The technical [..]

Technical Analysis – NZDUSD weakens momentum; lacks clear direction

Posted on April 4, 2019 at 9:00 am GMT

NZDUSD found strong obstacle at the short-term simple moving averages, driving the price beneath them. However, the pair is gaining some momentum, with the Stochastics returning to the upside and the MACD heading above the trigger line but still below the zero line, though less aggressively than in previous days, giving some signs of weakness. In case prices advance beyond the SMAs, the way could open towards the 0.6835 resistance, taken from the latest highs, and into the Ichimoku cloud. Slightly higher, the upper band [..]

Technical Analysis – GBPJPY jumps higher but remains within narrow range in near term

Posted on April 4, 2019 at 6:54 am GMT

GBPJPY is looking bullish in the short-term narrow range, which has been holding since February 19, with upper boundary the 148.60 resistance and lower boundary the 143.70 support level. During yesterday’s trading session, the price successfully surpassed the 20- and 40-simple moving averages (SMAs) in the daily timeframe, improving the ascending move. The stochastics are heading upwards, but they seem overbought, as the %K line is trying to turn downwards, signaling an overstretched market. The RSI has crossed into bullish territory but has yet to approach [..]

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