forex

Technical Analysis – AUDUSD pares some losses in short term; hits 40-day SMA

Posted on February 13, 2019 at 7:43 am GMT

AUDUSD has been paring some of the previous days’ losses since yesterday, following the rebound on the 0.7050 support level. Currently, the price is challenging the 40-simple moving average (SMA) in the daily timeframe, successfully surpassing the 23.6% Fibonacci retracement level of the downleg from the 32-month high of 0.8135 to the 10-year low of 0.6746, around 0.7070. From the technical point of view, the Bollinger Bands have confined prices between the 38.2% Fibonacci of 0.7275 and the 0.7050 support barrier over the last [..]

Technical Analysis – EURAUD on slippery slope; bears break 1.5900

Posted on February 12, 2019 at 12:53 pm GMT

EURAUD is retreating near 1.5900 below the 23.6% Fibonacci retracement level of the upleg from 1.3625 to 1.6558, approaching the mid-level of the Bollinger Band (20-simple moving average) in the daily chart. Over the last month, the price has been moving sideways in the Bollinger Band within the 1.5715 support and the 1.6035 resistance. The technical structure suggests a bearish momentum as well. The stochastic oscillator printed a bearish crossover within the %K and %D lines slightly below the overbought zone, while [..]

Technical Analysis – GBPUSD finds support around 40-day SMA after bearish rally

Posted on February 12, 2019 at 7:38 am GMT

GBPUSD is currently challenging the 40-simple moving average (SMA) in the daily timeframe after the aggressive selling interest from the three-and-a-half month high of 1.3217 on January 25. The price is also hovering around the 23.6% Fibonacci retracement level of the downward movement from 1.4375 to the 21-month low of 1.2390. The short-term bias remains neutral to bearish, as confirmed by the technical indicators. The RSI indicator is flattening around the 50 level, while the MACD oscillator is slipping in the positive zone below the [..]

Technical Analysis – EURUSD rebounds on short-term uptrend line; stochastic oversold

Posted on February 11, 2019 at 7:38 am GMT

EURUSD has tumbled over the preceding five consecutive days, falling back below the 20- and 40-simple moving averages (SMAs) in the daily timeframe. Also, the SMAs posted a bearish crossover last Friday, signaling negative movement. Currently, the price is attempting a rebound on the near-term ascending trend line, around the 1.1300 psychological level, erasing some significant losses. Looking at the technical indicators, the %K line of the stochastic oscillator recorded a positive cross with the %D line in the oversold zone, suggesting [..]

Technical Analysis – USDCHF surpasses 1.0000 critical level; remains above SMAs bullish cross

Posted on February 8, 2019 at 11:14 am GMT

USDCHF has moved considerably higher after the bounce off the 0.9715 support zone, which overlaps with the ascending trend line. The price returned back above the 1.0000 strong psychological level and seems promising for further bullish structure. Having a look at the momentum indicators, the RSI lies in the positive territory but is flattening, while the MACD oscillator climbed above the trigger line, indicating upside tendency. Moreover, the 20- and 40-simple moving averages (SMAs) recorded a bullish cross in the [..]

Technical Analysis – GBPJPY stops above 142.00; negative in long term

Posted on February 8, 2019 at 9:15 am GMT

GBPJPY has rebounded somewhat on the 40-day simple moving average (SMA), which posted a bullish crossover with the 20-day SMA. Also, the price surpassed the 38.2% Fibonacci retracement level of the downleg from 156.60 to the more than two-year low of 132.50, around 141.70. Despite the bullish cross of the SMAs, the technical indicators continue to slow down, mirroring the market’s bearish to neutral behavior over the past couple of days. The RSI indicator is still moving in bullish territory but is [..]

Technical Analysis – GBPCAD stops below 40-SMA; stands in ascending channel

Posted on February 7, 2019 at 12:36 pm GMT

GBPCAD is holding below the 20- and 40-simple moving averages (SMAs) in the daily timeframe, following the bounce off the resistance level of 1.7530 – a seven-month high reached on January 25. The pair has been trading within an ascending sloping channel over the last six months, despite the upside spikes towards 1.7530. The RSI indicator is flattening slightly below the 50 level, while the MACD stands below the trigger and zero lines. Further declines may meet support around the lower channel line, which stands near the [..]

Technical Analysis – NZDUSD erases bearish rally below upward channel; posts 2-week bottom

Posted on February 7, 2019 at 10:02 am GMT

NZDUSD plummeted below the upward sloping channel during yesterday’s session, which had been holding over the last month, creating a fresh two-week low near 0.6743. Currently, the price is easing slightly to the upside around the 50.0% Fibonacci retracement level of the upleg from 0.6560 to 0.6940, around 0.6750, paring some of the previous sessions’ losses. Technically, the RSI indicator seems to be oversold as it is pointing up below the 30 level, and the stochastic oscillator is ready for a bullish crossover of the %K and %D lines. [..]

Technical Analysis – USDJPY finds wall near 110.00; 40-SMA seems to be strong obstacle

Posted on February 7, 2019 at 7:22 am GMT

USDJPY has found a strong resistance obstacle around the 40-day simple moving average (SMA) over the last couple of days after the jump above the 50.0% Fibonacci retracement level of the downleg from the 11-month high of 114.55 and the 10-month low of 104.64, around 109.60. Currently, the pair is in a bullish correction mode following the rebound on the 104.64 support level on January 3, but the technical indicators seem to be in confusion. Looking at the momentum indicators, [..]

Technical Analysis – EURJPY edges lower in upward sloping channel

Posted on February 6, 2019 at 9:42 am GMT

EURJPY has been retreating significantly over the last few hours, struggling within an upward sloping channel since January 15 finding strong resistance obstacle around the 50.0% Fibonacci retracement level of the downleg from 133.10 to 118.57, around 125.85. According to the technical indicators, in the 4-hour chart, the RSI and the MACD are losing momentum below the neutral threshold of 50 and near the zero line respectively. If the market continues to move even lower, the pair could touch the lower Bollinger band around 124.70. In case [..]

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