forex

Technical Analysis – NZDUSD hovers near 5-month peak, has more room to run

Posted on November 29, 2018 at 9:38 am GMT

NZDUSD advanced strongly yesterday, driving the market towards a fresh five-month high around 0.6885. Currently, the pair holds slightly below this peak, but the 20- and 40-simple moving averages are confirming the upside momentum as they recorded a bullish crossover in the 4-hour chart. Moreover, the RSI indicator is moving higher, approaching the overbought zone and the MACD oscillator is strengthening its movement above the trigger and zero lines. If the bulls continue to have control, the price could surpass the five-month peak and head [..]

Technical Analysis – USDJPY reverses lower after touching 114; outlook remains bullish

Posted on November 29, 2018 at 7:23 am GMT

USDJPY has been facing selling interest since yesterday, diving slightly below the 20-day simple moving average (SMA) after it reached again the 114.00 psychological level. The pair still remains above the long-term ascending trend line, however, the technical indicators turned lower. The RSI is pointing south in bullish zone, while the blue %K line of the stochastic oscillator posted a bearish crossover with the red %D line. Should negative momentum continue and the price slides below the rising trend line as well as below the 23.6% [..]

Technical Analysis – USDCAD bullish at 5-month peak, eyes highest since mid-2017

Posted on November 28, 2018 at 3:55 pm GMT

USDCAD touched a fresh five-month high of 1.3358 on Wednesday, trading not far below its firmest since June 2017 of 1.3385 hit in late June of the current year. The Tenkan- and Kijun-sen lines are positively aligned on the daily chart, acting as a testament of the bullish sentiment that is in place in the short term. Stronger gains may meet resistance around the 1.3385 peak. A decisive break above would turn the attention to the 1.35 handle which may [..]

Technical Analysis – EURCHF sinks near 2-month low; strong bearish bias in short term

Posted on November 28, 2018 at 10:29 am GMT

EURCHF plunged to a new two-month low of 1.1266 after the aggressive sell-off below the 1.1300 handle on Tuesday. The near-term bias is looking negative with the RSI pointing down and is approaching the 30 level, while the MACD oscillator dived below the trigger line with strong momentum. Also, the 20- and 40-simple moving averages (SMAs) are following the bearish rally in price. More declines would likely push the pair towards the support level of 1.1220, identified by the trough [..]

Technical Analysis – EURJPY posts losses in narrow range in short-term

Posted on November 28, 2018 at 9:09 am GMT

EURJPY has been trading within a consolidation area over the last couple of weeks, with upper boundary the 129.00 resistance barrier, and the 127.80 support level. Technically, in the 4-hour chart, the RSI indicator is moving slightly lower below the threshold of 50, and the ROC indicator slipped below the zero line, suggesting more losses in the trading range. If prices drop below the 128.32 mid-level of the channel, they could re-test the 127.80 hurdle. More bearish pressures could shift the outlook from [..]

Eurozone flash CPI eyed as risks loom – Forex News Preview

Posted on November 28, 2018 at 9:04 am GMT

Besides the Italian budget story and Brexit, preliminary inflation readings out of the Eurozone are highly likely to spark volatility in the euro this week, affecting opinion about whether a rate hike by the European Central Bank is appropriate next year. The report is due on Friday at 1000 GMT, with investors estimating some weakness in the headline Consumer Price Index (CPI). On the other hand, the core measure is expected to gain momentum, though within a familiar field. [..]

Technical Analysis – AUDUSD loses momentum for bullish correction; indicators signal some gains

Posted on November 28, 2018 at 7:22 am GMT

AUDUSD lost its strong upward momentum over the last week after its fall from the two-and-a-half-month high near 0.7340, reducing the chances for a strong bullish correction. The price started the day in bullish territory, however, it is finding some resistance around the 20-day simple moving average (SMA) near 0.7240. In the short-term, the technical indicators remain in bullish mode with the RSI pointing slightly up, above the neutral threshold of 50, while the red %K line of the stochastic oscillator recorded a positive crossover [..]

Technical Analysis – EURGBP advances in near term; lacks direction in long-term

Posted on November 27, 2018 at 1:37 pm GMT

EURGBP is moving higher, gaining some ground after the pair found a strong support obstacle near the 0.8655 barrier. Neutral to positive risks remain in the background as the RSI increases momentum to the upside in the positive region, while the %K line of the stochastic oscillator turned higher and is ready to create a bullish cross with the %D line in the oversold zone. An advance in the price may retest the 0.8930 resistance level, identified by the recent [..]

Technical Analysis – EURAUD returns back below 20-day SMA; ready to re-test 5-month low

Posted on November 27, 2018 at 11:15 am GMT

EURAUD is pushing aggressively lower, following the bounce off the 20-day simple moving average (SMA) earlier in the day. Technically, the RSI remains in the negative zone and is turning lower, while the stochastic oscillator is strengthening its negative momentum, approaching the 20 level. Both are confirming the recent bearish run in the market in the short-term. Should the pair stretch south, November 15’s low of 1.5515 could provide immediate support before the pair touches the 38.2% Fibonacci retracement level of the upleg from 1.3620 to [..]

Technical Analysis – GBPUSD trades below SMAs with weak momentum; neutral sentiment in near term

Posted on November 27, 2018 at 7:33 am GMT

GBPUSD retains sideways movement in the near term, finding strong resistance at the 1.3255 barrier and support at the 1.2690 level. Also, over the last couple of weeks, the price dived below the 20- and 40-simple moving averages (SMAs) but has failed to post a significant bearish rally. Momentum indicators, signal that the market holds in a consolidation mode as the RSI indicator is flattening below its threshold of 50, while the MACD oscillator stands near the trigger line and below the [..]

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