forex

Technical Analysis – GBPUSD recovery halted above key 1.2693 barrier

Posted on December 27, 2018 at 7:51 am GMT

GBPUSD turned weaker after closing slightly above the 1.2693 key resistance on Monday, looking unable to build on its recent rebound from fresh yearly lows. In subsequent sessions, the pair may retain this consolidation phase given that the RSI remains close to its 50 neutral mark. The Ichimoku indicators also support this view as both the red Tenkan-sen and the blue Kijun-sen line seem to be flattening, though the negatively-sloped simple moving averages (MA) hint that an uptrend is not on the radar [..]

Technical Analysis – USDJPY meets 200-day MA in oversold area

Posted on December 24, 2018 at 8:15 am GMT

USDJPY closed marginally above the 200-day simple moving average (MA) last week, marking its second worst weekly performance for this year. With the RSI moving around its 30 oversold threshold and the Stochastics being ready to post a bullish cross below 20, a rebound could take place in the coming sessions, though the MACD suggests that bearish forces will dominate in the short term as the indicator continues to strengthen to the downside and below its red signal line. Should the price bounce up, [..]

Technical Analysis – GBPJPY stabilizes at 4-month lows; decline looks oversold

Posted on December 21, 2018 at 10:56 am GMT

GBPJPY paused selling at a four-month low of 140.55 on Thursday, with the RSI hinting that a rebound could possibly take place in the four-hour chart as the indicator is fluctuating below 30 in oversold territory for the second day. Yet, as long as the MACD holds in negative area and under its red signal line, any upside correction might be short-lived. A bounce up could see resistance coming between 141.16 and the 23.6% Fibonacci retracement of the downleg from 145.82 to 140.55, at [..]

Technical Analysis – GBPAUD hits 1-month high; remains bullish in long term

Posted on December 20, 2018 at 2:21 pm GMT

GBPAUD moved higher to a one-month high of 1.7850 after finding support at the 11-month lows at 1.7220, near the 50% Fibonacci retracement level of the upleg from 1.5725 to 1.8730 on December 3. The price extended its gains above the 38.2% Fibonacci mark of 1.7575 and the 20- and 40-simple moving averages (SMAs) in the daily chart. The RSI indicator is advancing above the 50 level, while the MACD oscillator climbed above the trigger line in the negative zone. If the [..]

Technical Analysis – EURGBP moves slightly higher, remaining above SMAs

Posted on December 20, 2018 at 12:39 pm GMT

EURGBP has been edging higher since Wednesday’s session, remaining above the strong support level of 0.8940. The technical structure endorses the short-term bullish sentiment as the RSI is heading towards the overbought level and the MACD oscillator created a positive crossover with the trigger line above the zero line. Also, the moving averages are pointing upwards in the daily timeframe. A further upside run in the price may retest the previous peak of the three-month high of 0.9085 before targeting the one-year high of [..]

Technical Analysis – NZDUSD could see some gains after sharp sell-off

Posted on December 20, 2018 at 10:13 am GMT

NZDUSD has rebounded somewhat after falling to five-week low of 0.6723 and momentum indicators now suggest that the market sentiment might get better as the RSI is reversing back to the upside after hitting the oversold zone. However, the MACD oscillator is still strengthening its bearish bias below the trigger and zero lines. In case the pair continues the negative retracement, the bears will probably challenge the bottom of 0.6705 – 0.6690, which encapsulated the 50.0% Fibonacci retracement level of [..]

Technical Analysis – USDJPY declines to 3-week low; shifts outlook to neutral

Posted on December 20, 2018 at 7:29 am GMT

USDJPY extended its losses early on Thursday and is set to complete the fifth consecutive red day. The pair plunged below the ascending trend line in the daily chart and the 23.6% Fibonacci retracement level of the upleg from 104.60 to 114.55, near 112.20, reaching a new three-week low around 111.86. According to the MACD, negative momentum could push for further losses in the short-term as the indicator picks up steam below its red signal line. The RSI is also falling and [..]

Technical Analysis – EURJPY challenges 23.6% Fibonacci in sideways channel

Posted on December 19, 2018 at 9:40 am GMT

EURJPY has been moving in a sideways channel over the last month, with strong resistance level the 129.28 barrier and support level the 127.60 region, having as a mid-level the 23.6% Fibonacci retracement level of the downleg from 133.10 to 126.60, around 128.15. Technically, in the 4-hour chart, the RSI indicator is sloping upwards below the threshold of 50, while the MACD oscillator posted a bullish crossover in the negative zone, confirming the recent upside move. If the market surpasses the 23.6% Fibonacci mark [..]

Loonie declines awaiting inflation and retail sales – Forex News Preview

Posted on December 18, 2018 at 1:01 pm GMT

Canadian inflation figures will hit the markets on Wednesday at 1330 GMT as well as retail sales and GDP numbers that are scheduled to be released on Friday at 1330 GMT. On December 5, the Bank of Canada (BOC) left its benchmark interest rate unchanged at 1.75%, after raising it by 25bps in the preceding meeting as was widely expected. It remained the highest rate since December 2008. Policymakers mentioned that more interest rate hikes will be needed to keep inflation into a range of 2% target [..]

Technical Analysis – GBPUSD rebounds on 20-month low; remains bearish in long-term

Posted on December 18, 2018 at 7:33 am GMT

GBPUSD has rebounded somewhat after falling to a 20-month low of 1.2475 on December 12 and momentum indicators are endorsing that the market sentiment might get better and create some gains in the daily timeframe. The RSI indicator is sloping slightly up in the negative territory, while the MACD oscillator is also looking to change direction and is ready to create a bullish crossover with its trigger line in the bearish zone. Should upside movement dominate in the near term, [..]

Legal disclaimer: The material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instruments. XM accepts no responsibility for any use that may be made of these comments and for any consequences resulting in it. No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. The research and analysis does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it.

It has not been prepared in accordance with legal requirements designed to promote the independence of research, and as such it is considered to be marketing communication. Although we are not specifically constrained from dealing ahead of the publication of our research, we do not seek to take advantage of it before we provide it to our clients. We aim to establish, maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. We operate a policy of independence, which requires our employees to act in our clients’ best interests and to disregard any conflicts of interest in providing our services.

CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losing all of your invested capital, so please make sure that you fully understand the risks involved.

How can we help?

Live Chat Terms