Technical Analysis

Technical Analysis – USDCAD looking for bullish break of key 1.31 level

Posted on September 13, 2016 at 7:29 am GMT

USDCAD briefly popped above the key 1.3100 level on Monday but closed below it on the day. The area around this key psychological 1.31 level is a strong resistance area which has been tested several times this year. Looking at the bigger picture, the pair has been trading within a range between 1.27 and 1.32 since May this year. The flat 50-day and 200-day moving averages are an indication that the overall trend is neutral. In the near term, the [..]

FX Daily Outlook| 12-09-16

Posted on September 12, 2016 at 8:41 am GMT

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Technical Analysis – AUDUSD increases downside bias after break below 50-day moving average

Posted on September 12, 2016 at 7:58 am GMT

AUDUSD has reversed almost all of the bounce from the August 31 low of 0.7489 to the September 8 high of 0.7731. This brings the near term bias back to bearish especially after prices fell below the key 0.7600 level and below the 50-day moving average at 0.7582. The RSI has dipped into bearish territory below 50, signaling further downside. The immediate target in the event of a fall in prices lies at 0.7500. But a break below the August [..]

FX Daily Outlook| 09-09-16

Posted on September 9, 2016 at 12:14 pm GMT

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Technical Analysis – GBPJPY neutral after rising in bullish channel

Posted on September 9, 2016 at 7:18 am GMT

GBPJPY was in an uptrend channel from the August 16 low of 129.07 to the September 2 high of 138.82. This short term bullish market structure is still in place but the upside momentum has faded, as indicated by the RSI. The levelling off in the momentum indicator suggests the market will likely consolidate in the near term and a neutral bias is expected for the moment. As long as RSI remains above 50, there is scope for a rebound [..]

FX Daily Outlook| 08-09-16

Posted on September 8, 2016 at 9:36 am GMT

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Technical Analysis – GBPUSD falls back below 1.3400; 1.3300 eyed

Posted on September 8, 2016 at 9:20 am GMT

GBPUSD maintains a short-term bullish structure after rising from the August 15 low of 1.2864 to the September 6 high of 1.3444. However, upside momentum has faded and there was a rapid drop yesterday to 1.3318. Weaker momentum is highlighted by the drop in the RSI indicator, which has levelled off, suggesting the market could consolidate in the near term. The 1.3300 level is eyed. Unless GBPUSD can move and stay above 1.3400 in the near term, there is a [..]

Technical Analysis – NZDJPY attempts a break above 200-DMA

Posted on September 7, 2016 at 1:39 pm GMT

NZDJPY has rallied by about 5% over the past three weeks, climbing from 72.20 to around the 76 level, taking prices above both the 50-day and 200-day moving averages. But the rally has come to a pause this week as the pair is being capped by the upper band of the downward sloping regression channel that prices have been trading in since January. The ebbing momentum is evident by the stochastics which are trending down, having already crossed into overbought [..]

Technical Analysis – EURUSD consolidates after big rally

Posted on September 7, 2016 at 7:16 am GMT

EURUSD intra-day bias is neutral and the 4-hour momentum indicators have levelled off, indicating that consolidation is likely after a big gain on Tuesday. Prices rose over 100 pips, bringing EURUSD back above the key 1.1200 level. There is still a possibility for more upside momentum as long as the RSI and stochastic indicators remain positive. Looking at the Daily Chart below: To the upside resistance will come in at the 23.6% Fibonacci retracement level of the upleg from [..]