Ichimoku cloud

Technical Analysis – EURGBP holds above 0.70 but outlook is bearish

Posted on July 31, 2015 at 8:53 am GMT

EURGBP moved higher on Friday after three straight sessions of losses but it was still not too far from the 7.5-year low of 0.6936 it touched on July 17. With the stochastics heading down towards 20 and RSI below 50, the near term bias is bearish. Any upside momentum being signalled from the rising RSI is weak. The medium term indicators are all looking bearish as prices remain below the moving averages and the Ichimoku cloud. The tenkan-sen line has [..]

Technical Analysis – AUDJPY looking bearish after brief rally loses steam

Posted on July 30, 2015 at 8:47 am GMT

AUDJPY was unable to sustain the rally from July 28 after finding resistance at the tenkan-sen line at around 90.78. The intra-day bias is on the upside with the stochastics still rising but RSI is in bearish territory, though it’s pointing up. In the medium term, the outlook for the pair is looking bearish as prices are below the Ichimoku cloud and the moving averages. AUDJPY would need to cross above the kijun-sen line at 92.50 if it’s going to [..]

Technical Analysis – EURUSD rally pushes it above 100-day MA but outlook is neutral

Posted on July 27, 2015 at 12:27 pm GMT

EURUSD rallied over 100 pips from 1.0968 to 1.1113 today before retreating to around 1.1065. With RSI crossing above 50 and the stochastics still positively aligned, the intra-day bias is bullish. But with prices having found resistance at the 50-day moving average at today’s intra-day high of 1.1113, EURUSD may struggle to rise above the Ichimoku cloud. Failure to break above the cloud means the pair is likely to continue consolidating in the medium term. Other indicators are looking mixed [..]

Technical Analysis – German Share Index looking to consolidate as it moves back into cloud

Posted on July 23, 2015 at 1:51 pm GMT

The German 30-share index (GER30) continued to slide for a third-day on Thursday as it fell back into the Ichimoku cloud. The index has been on a downward path after reaching a record high of 12433.40 on April 13. It managed to break out of the upper channel on July 13, finding resistance around the 11800 level. The near-term indicators are looking bearish with RSI falling towards 50 and the stochastics approaching 20. The 23.6% of the Fibonacci retracement level [..]

Technical Analysis – Gold rebounds from 5.5-year lows but outlook is bearish

Posted on July 21, 2015 at 2:16 pm GMT

Gold bounced back above the 1100 level on Tuesday after plunging to a 5.5-year low on Monday. But with prices only halfway from recovering Monday’s losses, the indicators are still looking very bearish for gold. RSI is pointing upwards but the rise hasn’t been enough to take it out of oversold territory, suggesting that further rebound may be due for gold in the near term. If gold is able to sustain today’s gains, it will likely meet resistance at the [..]

Technical Analysis – GBPJPY back above 50-day moving average but bias is mixed

Posted on July 20, 2015 at 2:01 pm GMT

GBPJPY has regained upward momentum again after the rally of the past week took it back above the 50-day moving average. The intra-day bias is slightly bearish as the %K line of the stochastic oscillator has crossed below the %D line and RSI is trending downwards, though it’s still in bullish territory above 50. In the medium-term, the outlook is bullish as prices are above the Ichimoku cloud. But the upside bias is restrained from the negatively aligned tenkan-sen and [..]

Technical Analysis – NZDUSD bearish again as upside bias reverses

Posted on July 13, 2015 at 12:55 pm GMT

NZDUSD came off the day’s high of 0.6751 as upside momentum faded. The stochastics suggest some positive momentum is still in place with the %K line yet to cross into the %D line but RSI is looking bearish again as it heads towards 30. The long-term bearish outlook for NZDUSD doesn’t look to be going away anytime soon as prices continue to trade below the moving averages and the Ichimoku cloud. However, the recent mini rally may have eased some [..]

Technical Analysis – NZDUSD heads deeper into bear territory

Posted on July 3, 2015 at 1:19 pm GMT

NZDUSD was close to hitting another five-year low today as it was unable to hold above the 0.67 handle, having touched a high of 0.6730 earlier in the day. The pair is looking increasingly bearish as prices move further below the moving averages and the Ichimoku cloud. The downward sloping and negatively aligned tenkan-sen and kijun-sen lines are not signalling any change in the medium-term outlook, which is decisively bearish. But with RSI drifting below 30 into oversold territory, a [..]

Technical Analysis – EURCHF turns bearish after SNB-led rally fizzles out

Posted on June 29, 2015 at 12:51 pm GMT

EURCHF reversed from its June trading range within the Ichimoku cloud to drop below the cloud. The pair fell by just under 1% from yesterday’s close before intervention by the Swiss National Bank pulled it higher to 1.0439 from a low of 1.0312, before settling around 1.0372. The intra-day bias was positive immediately after the SNB intervention but both the RSI and stochastics are now looking bearish. Without further intervention, EURCHF is in danger of breaching below the support from [..]

Technical Analysis – USDCHF in bullish mode but outlook is bearish

Posted on June 15, 2015 at 1:06 pm GMT

USDCHF jumped by 1% today as it attempts to break out of a downwards slide that’s been in progress since May 27. RSI has risen to 50 and the stochastic oscillator is also indicating a bullish bias in the near term as the %K line is has crossed above the %D line. Medium-term outlook still looks bearish though as prices trade below the Ichimoku cloud with the bottom of the cloud providing resistance at 0.94. The Tenkan-sen line moving above [..]

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