forex

Technical Analysis – CHFJPY bullish attempts alive in short term; neutral in long-term view

Posted on November 26, 2018 at 1:48 pm GMT

CHFJPY had a bullish start on Monday, with the price remaining above the 20- and 40-simple moving averages (SMAs) in the daily timeframe. These lines are ready to post a bullish crossover in the near future, suggesting that the recent rebound on the ascending trend line could continue. The RSI indicator is pointing slightly up in the positive zone, while the MACD oscillator is rising higher with weak momentum. On the upside, resistance could occur around the 113.85 barrier, while a successful break of this level [..]

Technical Analysis – GBPAUD symmetrical triangle construction is nearing completion

Posted on November 26, 2018 at 10:27 am GMT

GBPAUD continues to trade in the red today, with the RSI in the four-hour chart warning that further losses could follow up as the indicator has already pierced its 50 neutral threshold to the downside, while the MACD keeps losing momentum below its red signal line, providing an additional bearish signal. A leg lower would violate the symmetrical triangle, potentially bringing more pressure to the market. In this case, traders could look for support between 1.7570 and 1.7520; a recently approached area. Beneath that, [..]

Technical Analysis – EURUSD builds base below SMAs; bearish structure holds

Posted on November 26, 2018 at 7:17 am GMT

EURUSD had a deep fall on Friday and has been stuck below the 20-day simple moving average over the last couple of months. Looking at momentum indicators, the RSI is pointing slightly up below its neutral threshold of 50, while the MACD also remains innegative territory but is embraced by its red signal line. In the wake of more negative pressures, the market could meet support at the 17-month low of 1.1215, before the price heads sharply lower towards the 1.1115 mark, identified by [..]

Technical Analysis – NZDJPY positive bias eases; still looks bullish in medium term

Posted on November 23, 2018 at 11:58 am GMT

NZDJPY retreated after touching a five-month high of 77.70 last week. Still, the pair’s remarkable recovery after coming close to more than two-year lows in early October remains largely intact. The Tenkan- and Kijun-sen lines are positively aligned in support of a bullish bias in the short term. However, notice that the two have flatlined, indicating weakening positive momentum. A move up could meet resistance around the current level of the Tenkan-sen at 76.95; the 76.84 top and the 0.77 handle [..]

Technical Analysis – GBPJPY loses momentum; RSI signals further losses

Posted on November 23, 2018 at 9:47 am GMT

GBPJPY is declining considerably today, diving below the 40-simple moving average in the 4-hour chart. In the very short-term the price seems to be strongly negative, while in the daily chart the pair remains in a consolidation area over the last three months with upper boundary the 149.30 resistance and lower boundary the 142.70 support. Technically, the RSI indicator is pointing south near the 50 level, while the MACD oscillator is rising, approaching the zero line. However, the 20- and [..]

Technical Analysis – USDCAD retains bullish mode in short- and long-term

Posted on November 23, 2018 at 7:35 am GMT

USDCAD has been trading in an ascending movement over the last one-and-a-half months, but in case of a penetration of the trend line it could move lower in the near term. Also, when looking at the bigger picture the pair has a clear upside trend after its rebound on the 1.2060 support level. Momentum indicators in the daily timeframe, are too weak to provide a sustained move higher as the RSI is flattening above the neutral threshold of 50 and the MACD dropped marginally below the [..]

Technical Analysis – EURAUD regains ground following rebound on 5-month trough

Posted on November 22, 2018 at 1:52 pm GMT

EURAUD has advanced considerably after it found support on the five-month low of 1.5515, achieved last Thursday, and ended the day below the rising trend line. However, the pair gained ground in the next couple of sessions, challenging the 20-day simple moving average near 1.5760. Technically, the RSI remains in the negative zone, but is turning higher, while the MACD oscillator is strengthening its positive momentum above the trigger line and below the zero line. Both are confirming the recent upside run in [..]

Technical Analysis – EURGBP momentum heads south; short and medium-term pictures look neutral

Posted on November 22, 2018 at 11:35 am GMT

EURGBP is recording strong losses today after the pair found strong resistance obstacle near the 0.8930 barrier. Negative risks remain in the background as the RSI increases momentum to the downside in the positive region, while the %K line of the stochastic oscillator posted a bearish cross with the %D line above the 80 level. A decline in the price may retest the 20- and 40-simple moving averages (SMAs), which hold near the 0.8800 handle. Further down, the next stop [..]

Technical Analysis – NZDUSD edges lower but bullish sentiment remains in short-term

Posted on November 22, 2018 at 9:52 am GMT

NZDUSD has come under renewed selling pressure today, falling back below the downward sloping simple moving averages (SMAs). Despite the latest pullback though, the index has not posted a session below 0.6780, which makes one hesitant to trust further declines for now. However, looking at momentum oscillators, they suggest further losses in the near term. The RSI slipped into negative zone, while the MACD remains below its trigger line. In case of further declines in the pair, immediate support is coming from the 23.6% [..]

Technical Analysis – USDJPY holds near 113 after bounce off rising trend line

Posted on November 22, 2018 at 7:29 am GMT

USDJPY is trying to overcome the 113.00 area as well as the 20- and 40- simple moving averages (SMAs) in the daily timeframe today following the rebound on the 112.30 support level, which overlaps with the ascending trend line. The RSI indicator looks to be changing direction as it surpasses the neutral threshold of 50. The stochastic oscillator is moving higher, both hinting further improvement for the market. A run higher could push efforts to drive the pair towards the [..]

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