forex

Technical Analysis – EURAUD regains ground above SMAs in near term

Posted on December 17, 2018 at 2:08 pm GMT

EURAUD is gaining ground on Monday, remaining above the 1.5710 level, the 23.6% Fibonacci retracement level of the upleg from 1.3620 to 1.6350. The advance in the price action is confirmed by the technical indicators. The RSI is heading upwards above the 50 level, while the stochastic oscillator is ready to create a bullish crossover between the %K and %D lines. Also, the 20- and 40-simple moving averages on the daily chart, are in process of posting a positive cross in the next few [..]

European Open Preview – US dollar index near highs as Fed week begins

Posted on December 17, 2018 at 8:14 am GMT

US dollar not far from highs as Fed poised to hike later in the week Risk sentiment under pressure from signs of global slowdown Volatile sterling in wait-and-see mode on possible Brexit holiday pause US dollar keeps most of its gains on robust retail sales The US dollar was helped by a buoyant November retail sales report on Friday, which were in contrast to weaker-than-expected data and business surveys out of Europe and China. A strong consumer should help the [..]

Technical Analysis – EURUSD edges marginally up after strong negative week

Posted on December 17, 2018 at 7:05 am GMT

EURUSD finished the previous week in negative territory as it touched once again the 1.1265 support level, remaining below the 20- and 40-simple moving averages (SMAs) in the daily timeframe. The pair continues the negative tendency over the last eight months, increasing distance below its negatively sloped trend line. Meanwhile, the technical indicators continue to slow down, mirroring the market’s bearish behavior over the past week. The RSI indicator is still moving in the bearish zone, flagging that a downside move [..]

Technical Analysis – GBPJPY has more room to lose; negative in near term

Posted on December 14, 2018 at 9:26 am GMT

GBPJPY has declined considerably after touching several times the 143.90 resistance level in the previous daily session. In the short-term the bias seems to be negative, while on the daily chart the pair remains in a sideways channel over the last four months with upper boundary the 149.50 resistance and lower boundary the 141.15 support. Technically, on the 4-hour chart, the RSI indicator is pointing south near the 50 level, while the MACD oscillator is moving above the trigger line with weak momentum. Immediate support [..]

Technical Analysis – USDCAD loses momentum below 18-month high; retains bullish outlook

Posted on December 14, 2018 at 7:32 am GMT

USDCAD is losing momentum after the aggressive upside run towards the 18-month high of 1.3443 on December 6. The price is developing well above its moving averages which are positively sloped, a sign that the uptrend could continue and remains in an ascending movement in the short- and long-term timeframes. Momentum indicators are also in bullish territory, with the MACD crossing above its red signal line and the RSI fluctuating well above its 50 mark. An extension to the upside would likely [..]

Technical Analysis – EURAUD loses ground in near term; indicators show signs for downward move

Posted on December 13, 2018 at 12:49 pm GMT

EURAUD is losing some ground after the sharp upside rollercoaster in the preceding week. The price struggles below the 1.5880 resistance level and above the 23.6% Fibonacci retracement level of the upleg from 1.3620 to 1.6350 around 1.5708. The RSI indicator is moving sideways above the 50 level, while the stochastic is heading south. If the price drops lower, it could retest the 20-day simple moving average (SMA) near 1.5643. Should the pair breach the latter, bearish action may pick up speed [..]

Technical Analysis – NZDUSD builds base around SMAs; positive bias in short term

Posted on December 13, 2018 at 9:21 am GMT

NZDUSD has reversed back up again following the pullback on the 23.6% Fibonacci retracement level of the upleg from 0.6423 to 0.6968, around the 0.6835 support level. Currently, the price is testing the 20-day simple moving average (SMA) near 0.6873, which is acting as strong resistance level for the bulls. The stochastic oscillator is approaching the overbought level, while the RSI is trying to jump above the 50 level. If the bulls continue to have control, the price could touch [..]

Technical Analysis – USDJPY returns above rising trend line and SMAs; bullish outlook holds

Posted on December 13, 2018 at 7:31 am GMT

USDJPY has been facing buying interest after the rebound on the 23.6% Fibonacci retracement level of the upleg from 104.60 to 114.55, around the 112.30 support. The pair remains above the long-term ascending trend line, however, the technical indicators are moving with weak momentum. The RSI is pointing marginally up in the bullish zone, while the MACD oscillator is flattening near the trigger and zero lines in the short-term. As the price advances above the 20- and 40-simple moving averages (SMAs), the expectation [..]

Technical Analysis – CHFJPY bounces off 38.2% Fibonacci but bullish outlook remains in play

Posted on December 12, 2018 at 2:07 pm GMT

CHFJPY had another bearish start on Wednesday, with the price remaining below the 38.2% Fibonacci retracement level of the upleg from 108.50 to 118.05, around 114.40. Technically, in the daily timeframe, the Relative Strength Index (RSI) is moving south in the positive zone, while the MACD oscillator is losing momentum, despite that it stills stands above the trigger and zero lines. A further reversal to the downside, could find obstacle near the 20-day simple moving average (SMA) around 113.50 before [..]

Technical Analysis – EURJPY fails to create significant run; neutral in near term

Posted on December 12, 2018 at 9:20 am GMT

EURJPY has been trading within a consolidation area over the last month, with upper boundary the 129.28 resistance barrier, and lower boundary the 127.60 support level, having mid-level the 23.6% Fibonacci retracement level of the downleg from 133.10 to 126.60, around 128.15. From the technical structure, in the 4-hour chart, the RSI indicator is moving slightly lower below the threshold of 50, while the MACD oscillator is flattening above the zero line but below the trigger line. However, if prices rebound again on the [..]

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