Technical Analysis

Technical Analysis – US oil futures drop back from 50; still positive but will they break out?

Posted on October 10, 2016 at 7:53 am GMT

Oil has rallied hard since the end of September, leading price to top 50 for the first time in more than three months. However, it did not have enough strength to break the 51.65 early June high. Therefore oil stayed in the 40-51 dollar range that has been in place since around mid-April this year. According to the Ichimoku analysis, oil’s prospects are positive and it should test the 51.65 high soon. Price is well above the cloud and the [..]

FX Daily Outlook | 07-10-16

Posted on October 7, 2016 at 9:14 am GMT

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Technical Analysis – GBPJPY near 4-year low; looks to extend losses

Posted on October 7, 2016 at 8:07 am GMT

The pound / yen cross is one of the more volatile pairs between major currencies and therefore one of the favorites of active traders. GBPJPY looked to be in a downtrend even before the June 23rd Brexit vote which hit sterling hard and drove the pair from 157 yen to around 133. The post-Brexit low – until last night – was 128.75 which was tested on July 6 and August 16. Due to the irregular trading conditions of the previous [..]

FX Daily Outlook | 06-10-16

Posted on October 6, 2016 at 9:37 am GMT

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Technical Analysis – NZDUSD retracing some gains it made this year

Posted on October 6, 2016 at 9:28 am GMT

NZDUSD has staged a big rally so far this year as it rallied from the January 20 low of 0.6346 all the way to the early September high of 07484 – a 17.9% move. After the yen, the kiwi is the best-performing developed country currency versus the dollar this year. Following the early September high of 0.7484, the pair has corrected somewhat sharply to reach the present 0.7150 level. It has thus violated the 50-day moving average in the process (currently at [..]

FX Daily Outlook | 05-10-16

Posted on October 5, 2016 at 9:23 am GMT

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Technical Analysis – GBPAUD at 3-year low; possibly oversold in short-run

Posted on October 5, 2016 at 7:59 am GMT

All sterling crosses have attracted a lot of attention since Brexit-induced volatility has led the pound hit multi-year lows against various currencies. In this circumstance, against the aussie the pound is trading at 3-year low. 1.67 had provided some support for the pound back in mid-August but when this level gave way, the pair moved to 1.66. The longer-term picture is decidedly bearish, as both the 200-day and 50-day moving averages are negatively aligned. However, in the short-run, sterling could [..]

FX Daily Outlook | 04-10-16

Posted on October 4, 2016 at 9:06 am GMT

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Technical Analysis – Japan 225 stock index looking bullish short-term

Posted on October 4, 2016 at 7:40 am GMT

The Japanese stock index is looking positive in the short-term according to the Ichimoku analysis. Following the steep drops in the first two months of the year, the index has traded broadly in a range between the 14775 and 17760 levels. The more recent high was 17160 in early September. The current price is 16760, which is above the cloud and both the Tenkan-sen and Kijun-sen lines. These are all positive indications. If the Tenkan-sen line (red) manages to cross [..]