forex

Technical Analysis – GBPAUD turns higher above SMAs; bullish in long term

Posted on February 6, 2019 at 7:27 am GMT

GBPAUD is advancing considerably today following the bounce off the 1.7860 support level and successfully surpassed above the 20- and 40-simple moving averages (SMAs) in the daily timeframe. Momentum indicators suggest that the market sentiment might get even better as the RSI is reversing back to the upside entering in positive territory. The stochastic also looks to be changing direction, moving up after the bullish crossover within the %K and %D lines. Should the bulls drive the price higher, the next [..]

Technical Analysis – CADJPY surpasses downtrend line; unlocks 7-week high

Posted on February 4, 2019 at 1:08 pm GMT

CADJPY is extending its gains, recording a seven-week high of 83.95 earlier today and is set to complete the fourth straight green day. Also, the price surpassed the 20- and 40-simple moving averages (SMAs) which are on course to post a bullish crossover in the next daily sessions. The MACD is strengthening its bullish momentum, entering the positive area, while the stochastic continue its rise in overbought territory in the near term. Should the price extend advances, the 61.8% Fibonacci retracement level of the downleg from [..]

Technical Analysis – EURNZD unlocks 7-week low; SMAs post bearish cross

Posted on February 1, 2019 at 10:19 am GMT

EURNZD has declined considerably over the last couple of days, posting a new seven-week low of 1.6526 on Thursday. The price slipped below the 38.2% Fibonacci retracement level of the upleg from 1.4535 to 1.7925 around 1.6630, while the 20- and 40-simple moving averages (SMAs) are ready to record a bearish crossover in the daily chart. The MACD oscillator is slipping below the zero and trigger lines keeping its momentum negative, while the %K line of the stochastic oscillator recorded a bearish [..]

Technical Analysis – GBPAUD rebounds on 20-day SMA; erases bearish rally in near term

Posted on February 1, 2019 at 7:41 am GMT

GBPAUD has rebounded somewhat on the 20-day simple moving average (SMA) and on the 23.6% Fibonacci retracement level of the upward movement from 1.5725 to 1.8730 around 1.8015. The price is ready to snap the five consecutive red days from the 1.8520 resistance, driving the price higher again. From the technical point of view, the MACD oscillator now suggests that the market sentiment might get worse before getting better, however, the RSI is reversing back to the upside after the pullback on [..]

Technical Analysis – NZDUSD reaches 8-week high near upper boundary of bullish channel

Posted on January 31, 2019 at 9:34 am GMT

NZDUSD continues to rise above the 50.0% Fibonacci retracement level of the downward movement from 0.7390 to 0.6423, around 0.6910, remaining inside a bullishly aligned channel, stretching its upward pattern to a fresh seven-week high of 0.6923. According to the MACD, positive momentum could push for further gains in the short-term as the indicator picks up steam above its red signal line. The RSI is also advancing, though, it is slightly above the 70 overbought threshold, therefore, negative corrections cannot be excluded. In case the pair [..]

Technical Analysis – USDJPY hits 2-week low; remains neutral in long term

Posted on January 31, 2019 at 7:30 am GMT

USDJPY has been underperforming since yesterday, breaking back below the 50.0% Fibonacci retracement level of the downleg from 114.55 to 104.64, around 109.60 and the 20-simple moving average (SMA) in the daily chart. The price recorded a fresh two-week low of 108.68. Momentum indicators are pointing to a negative bias in the short term with the RSI just below 50 and the stochastic oscillator approaching the oversold area. However, the 20-SMA is pointing slightly up despite the latest bearish pullback, [..]

Technical Analysis – EURJPY creates positively aligned channel in near term

Posted on January 30, 2019 at 11:54 am GMT

EURJPY has struggled within an upward sloping channel over the last couple of weeks finding strong resistance obstacle around the upper Bollinger band. According to the technical indicators, in the 4-hour chart, the RSI and the MACD are slightly losing momentum above the neutral threshold of 50 and the zero line respectively. It is worth mentioning, that the Bollinger bands are squeezing the price action, suggesting a possible strong break outside of the channel in either direction. If the market pushes the pair [..]

Technical Analysis – AUDUSD surpasses bullish cross of SMAs; still negative in long term

Posted on January 30, 2019 at 9:37 am GMT

AUDUSD has come under renewed buying interest earlier today finding a strong support level on the bullish crossover between the 20- and 40-simple moving averages (SMAs) in the daily timeframe. After the significant bullish rally from the decade low of 0.6746, the pair is consolidating above the 23.6% Fibonacci retracement level of the downleg from 0.8135 to 0.6746, around 0.7070 and below the 0.7235 resistance. Momentum indicators now suggest that the market sentiment might get better as the RSI is reversing back to the upside in positive area. [..]

Technical Analysis – EURGBP eases after strong bullish run above 23.6% Fibonacci mark

Posted on January 30, 2019 at 7:30 am GMT

EURGBP had one of its best trading sessions for this year over the last couple of days, following the bounce off the 20-month trough of 0.8616. Also, the pair jumped above the 23.6% Fibonacci retracement level of the downleg from 0.9110 to 0.8616 around 0.8730. However, the price is still lacking direction in the medium term and any daily close below the 0.8620 support level, would endorse the outlook for a negative tendency. The very short-term bias looks quite positive, however, as [..]

Aussie on edge as Australian inflation may slowdown in Q4 – Forex News Preview

Posted on January 29, 2019 at 10:50 am GMT

Early on Wednesday at 0030 GMT, the Australian Bureau of Statistics will publish inflation numbers for the fourth quarter of 2018. Forecasts are for another soft outcome of 1.7% year-on-year from 1.9% from the previous quarter. On a quarterly basis, the pace of consumer price increases are predicted to remain the same at 0.4% as before. The view however is that even in case of an upward surprise, policymakers are most likely to stand pat on policy until wages show a significant but a [..]

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