forex

Technical Analysis – EURJPY maintains weak bias in near-term; broader trend is neutral

Posted on November 14, 2018 at 2:25 pm GMT

EURJPY has been trading within the 23.6% Fibonacci retracement level and the 38.2% Fibonacci mark of the downleg from 133.10 to 126.60, between 128.15 and 129.10 over the last 4-hour sessions. The MACD oscillator is moving higher in the negative zone, above its trigger line, and the RSI indicator is pointing up near the threshold of 50. If prices are able to continue to move higher and overcome 38.2% Fibonacci of 129.10 and the 129.20 resistance, the next obstacle for traders to watch is the 50.0% [..]

Technical Analysis – AUDUSD remains above SMAs in narrow range

Posted on November 14, 2018 at 1:27 pm GMT

AUDUSD turned below the six-week high that posted in the preceding week and it currently stands above the 20- and 40-simple moving averages (SMAs), which are ready to post a bullish crossover. The stochastic oscillator is ready to tick higher near the oversold zone, while the MACD oscillator points marginally to the upside, above zero and trigger lines. If the market manages to pick up speed, the 23.6% Fibonacci retracement level of the downleg from 0.8135 to 0.7020, around the 0.7300 [..]

Technical Analysis – USDCHF bullish, trades near 20-month high

Posted on November 14, 2018 at 11:46 am GMT

USDCHF is trading close to Tuesday’s high of 1.0128, the pair’s firmest since March 2017. The short-term bias is clearly bullish, with the pair having recorded a remarkable rally from late September when it touched a multi-month low of 0.9541. Also attesting to the bullish momentum are the positively aligned Tenkan- and Kijun-sen lines. The Chikou Span though may be suggesting an overextended rally; a pullback in the near-term is not to be ruled out. Further advances could meet resistance [..]

Aussie turns focus on employment report to pick up momentum – Forex News Preview

Posted on November 14, 2018 at 9:54 am GMT

October’s employment report for Australia is likely to attract investors’ attention on Thursday at 0030 GMT as the Australian dollar gained some ground in the previous couple of weeks. Stronger figures in employment may provide some further relief to the currency, while seasonally adjusted wage price index rose 2.3% year-on-year in the third quarter, above the 2.1% for the previous quarter and matching market expectations. The quarter-on-quarter rate stayed unchanged at 0.6%. Also, key indicators out of China earlier in the [..]

Technical Analysis – EURGBP hits 7-month lows; bearish outlook in place

Posted on November 14, 2018 at 7:51 am GMT

EURGBP continues to underperform for the third week in a row, touching a 7-month low at 0.8655 on Tuesday, a mark well below the Ichimoku cloud and its moving averages. In the short-term the pair could lose more as the red Tenkan-sen line points steeply to the downside beneath the blue Kijun-sen line, while the MACD keeps strengthening under its red signal line in negative territory. Still, with the RSI fluctuating near the 30 oversold limit, upside corrections cannot be ruled [..]

US CPI, retail sales next to move the dollar – Forex News Preview

Posted on November 13, 2018 at 5:18 pm GMT

As the Fed prepares to deliver its fourth rate hike of the year in December, key data on consumer prices and retail sales coming up might offer some clues on the Bank’s rate normalization path in 2019. At 1330 GMT on Wednesday, the Bureau of Economic Analysis is expected to show that October’s headline Consumer Price Index bounced up to 2.5% year-on-year after slowing down in the past two months, from 2.9% in July to 2.3% in September. The core equivalent, however, which excludes volatile items is estimated at 2.2% y/y, the same as [..]

Technical Analysis – EURAUD flattens after touching 3-month low

Posted on November 13, 2018 at 2:01 pm GMT

EURAUD slipped to a fresh 3-month low earlier today of 1.5574. The price has lost its positive momentum in the longer-term picture as it penetrated the rising trend line to the downside during the previous week. In the short-term, the pair is creating an aggressive bearish rally following the bounce off the 1.6350 resistance level and it fell below the 23.6% Fibonacci retracement level of the upleg from 1.3625 to 1.6350, near 1.5715. Technically, the RSI slipped in the oversold zone and is [..]

Technical Analysis – GBPUSD falls below 1.29; could attempt to erase losses

Posted on November 13, 2018 at 7:40 am GMT

GBPUSD declined back below the Ichimoku cloud and the 1.2900 key level on Monday, erasing part of its recent strong rebound. Momentum indicators, however, signal that the market may attempt to retrace its losses in the short-term as the Stochastics are on track to create a bullish cross in the oversold territory, below 20, while the RSI looks to be changing direction to the upside and towards its 50 neutral mark. Yet, as long as the RSI holds below 50, negative corrections [..]

UK Jobs data to stay buoyant in September – Forex News Preview

Posted on November 12, 2018 at 4:38 pm GMT

While Brexit uncertainty dampens investment sentiment in Britain, business leaders continue to offer higher wages to attract new workers as skills shortages seem to restrict the availability of candidates. In August, the unemployment rate held at the lowest in 43 years and average earnings picked up steam for another month, with forecasts suggesting that September’s employment report will not tell a different story. On Tuesday at 0930 GMT, the Office for National Statistics is expected to say that the unemployment rate stuck at 4.0% in the three [..]

Technical Analysis – EURUSD on a slippery slope; bears break the 1.1300 bottom

Posted on November 12, 2018 at 8:45 am GMT

EURUSD had a bearish start on Monday, with the price breaking a crucial support at 1.1300 to drop towards 1.1267, the lowest since June 2017. The pair has also increased distance below its negatively sloped moving average lines and the Ichimoku cloud, indicating that the recent downtrend might hold for longer. Momentum signals are bearish as well as the red Tenkan-sen line, which is below the blue kijun-sen line, looks to be heading south, while the RSI has reversed lower [..]

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