Ichimoku cloud

Technical Analysis – EURUSD holds above 1.12; outlook bullish but weak

Posted on June 9, 2015 at 1:40 pm GMT

EURUSD headed lower today in another volatile session but remained above the 1.12 level. Short term bias is looking bearish as the stochastic oscillator is heading downwards with the %K line having dipped below the %D line. Support could come around 1.1044 where the 100-day moving average is bottoming out and was a previous resistance level. However, with prices holding above the Ichimoku cloud, as well as the 50- and 100-day moving averages, the medium-term outlook is for the continuation [..]

Technical Analysis – EURGBP in bullish mode but outlook is neutral

Posted on June 8, 2015 at 2:45 pm GMT

EURGBP reversed two days of declines to jump to 0.7337 today. Prices remain just above the Ichimoku cloud as well as the 50- and 100-day moving averages, indicating a bullish bias in the near term. But the current uptrend has not been strong enough to lift the tenkan-sen line above the kijun-sen line, suggesting that EURGBP is likely to stay within its current range in the medium term. RSI remains above 50 and is trending upwards so a renewed momentum [..]

Technical Analysis – EURJPY rallies to 4.5-month high; outlook still bullish

Posted on June 2, 2015 at 2:19 pm GMT

EURJPY rose to four- and half-month highs, reaching a peak of 138.86 before pulling back closer to around 138.00. Prices have been above the Ichimoku cloud since April 30 and while they’ve since remained in a range, today’s break above the 50% Fibonacci retracement level at 137.91, of the downleg from December’s 149.76 to April’s 126.08, signifies a shift in momentum. The RSI has hit 70 and the tenkan-sen and kijun-sen lines remain positively aligned indicating a strong bullish bias [..]

Technical Analysis – EURGBP back in bear territory

Posted on May 21, 2015 at 2:34 pm GMT

EURGBP is heading for a fourth day of losses, moving further south of the Ichimoku cloud during the process. Having dropped below the April 23 low of 0.71166 takes it closer to the key support level of 0.70134, which is the trough it touched in March before consolidating. The Tenkan-sen line has crossed below the Kijun-sen line and slipped below the Ichimoku cloud but having crossed above the cloud weakens the bearish signal slightly. The sideways moving 50-day moving average [..]

Technical Analysis – S&P 500 Daily, Bullish trend, all-time highs but signs of being overbought

Posted on July 3, 2014 at 10:03 am GMT

[caption id="attachment_17991" align="alignnone" width="555"] (Click to enlarge)[/caption] The S&P 500 has recently traded above the 1970 mark, the latest in a series of all-time highs since early May. As shown by the chart, the trend is positive since price action is well above the cloud. The Tenkan-sen line has crossed the Kijun-sen line from below in late April this year, which was a buy signal. It has since maintained itself above the Kijun-sen line, without opening too much of a [..]

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