Ichimoku cloud

Technical Analysis – GBPJPY turns bearish below 200-day moving average

Posted on September 1, 2015 at 1:08 pm GMT

GBPJPY has been stuck in bearish territory since its dip below the Ichimoku cloud on August 24. Today’s fall has taken it back below the 200-day moving average, increasing the bearish outlook for the medium term. The nearest support comes from the 61.8% of the Fibonacci retracement level of the April-June upleg at 182.89. With RSI and the stochastics looking bearish below 50, there could be enough downside momentum in the near term to pull prices below this support level. [..]

Technical Analysis – USDCAD remains bullish above 1.32

Posted on August 31, 2015 at 12:54 pm GMT

USDCAD is pausing after it set a new 11-year high of 1.3352 on August 25. The current pause is characterized by the stochastics, where the %K line has been heading lower since the peak and is still trending down, suggesting the pair has yet to gain new momentum. RSI is moving slightly higher above 50 so it is likely prices will hold near current levels in the near term until they’ve regained momentum. The August 25 high of 1.3352 is [..]

Technical Analysis – AUDUSD rebounds from 6-year lows; outlook bearish

Posted on August 25, 2015 at 2:02 pm GMT

AUDUSD was back above the 0.72 handle after hitting a fresh 6-year low of 0.7033 on Monday. The intra-day momentum has weakened slightly as the pair has come off highs of 0.7249. Further upward momentum is possible as RSI and the stochastics are still pointing up but is likely to be weak. There is no change to the medium term outlook and prices remain in bearish territory below the Ichimoku cloud and the moving averages. Monday’s low of 0.7033 provides [..]

Technical Analysis – US benchmark index slumps to 10-month low deepening the bearish outlook

Posted on August 24, 2015 at 1:48 pm GMT

The US benchmark index was heading for a fifth straight day of losses on Monday as it broke below the 1900 level to hit a low of 1830.40 at the start of US trading. Today’s sell-off to 10-month lows could push prices to test 1812.75, which is the support level from the October 2014 downturn. With prices now sharply below the moving averages and the Ichimoku cloud, the medium-term outlook is looking increasingly bearish. The US index has breached the [..]

Technical Analysis – NZDJPY outlook remains bearish but bias is neutral

Posted on August 19, 2015 at 9:30 am GMT

NZDJPY has been stuck in a range between 80.44 and 83.26 since it halted its April-July downtrend. The outlook remains bearish but there are some indications of extending its range-bound trading into the medium term. Prices are below the moving averages and the Ichimoku cloud, suggesting ongoing bearish momentum. But the Tenkan-sen and Kijun-sen lines have begun moving sideways along the center of the recent range. The Ichimoku cloud is also starting to shift towards a sideways pattern, signalling a [..]

Technical Analysis – EURGBP drops 1% below 50-day moving average

Posted on August 18, 2015 at 1:39 pm GMT

EURGBP fell sharply by 1% on Tuesday, hitting a one-week low of 0.7026 as it dropped below the 50-day moving average. Today’s losses have taken prices further below the moving averages and the Ichimoku cloud, deepening the bearish outlook in the medium term. The only positive signal is coming from the tenkan-sen and kijun-sen lines, with the tenkan-sen line just having crossed above the kijun-sen line. But this is likely to reverse in the coming days as RSI has dipped [..]

Technical Analysis – EURJPY stuck in range; outlook is neutral

Posted on August 17, 2015 at 1:33 pm GMT

EURJPY remains in neutral territory as the recent rally fails to take it past its June 4 high of 141.04 and the Ichimoku cloud is moving sideways. Prices have met resistance just below 139 but would need to rise above the June 4 high to break out of its recent range. This would also strengthen the weakening bullish signals from the moving averages as the 50-day moving average is in danger of falling back below the 200-day moving average. In [..]

Technical Analysis – AUDUSD unable to hold above 0.74; outlook still bearish

Posted on August 10, 2015 at 12:44 pm GMT

AUDUSD reversed much of Friday’s gains on Monday as it dropped back below 0.74. The near term indicators point to some upward momentum as RSI is just below 50 and the stochastics are still rising. The nearest resistance is the July 21 and August 7 close of 0.7417. A break above this level is needed to strengthen the upside momentum. This would put prices within closer range of the 50-day moving average at 0.7532, which the pair needs to target [..]

Technical Analysis – NZDUSD downtrend loses steam but outlook still bearish

Posted on August 7, 2015 at 9:27 am GMT

NZDUSD is attempting to move away from the new 6-year low it set on August 5 but the intra-day upside bias is weak. RSI is rising but still below 50. The stochastics are also rising but appear to be slowing as the %D line diverts away from the %K line. The medium term outlook remains bearish as the pair trade below the moving averages and the Ichimoku cloud. But with the tenkan-sen line moving sideways to align with the kijun-sen [..]

Technical Analysis – GBPJPY finds resistance above 195; eyes new 7-year highs

Posted on August 6, 2015 at 9:26 am GMT

GBPJPY has been moving in a range following a correction after hitting a 7-year high of 195.87 on June 24. But yesterday’s rally saw it move further upwards from the Ichimoku cloud, strengthening the bullish momentum. The intra-day bias has slightly eased though, as RSI holds steady around 62 and the stochastics have only just turned positive after the bearish cross a few days ago. The pair found resistance around 195.24, not too far from the June high of 195.87, [..]

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.