Technical Analysis

Technical Analysis – EURUSD bearish below 100-day moving average

Posted on August 30, 2016 at 4:52 am GMT

EURUSD has retraced half of the upleg from 1.0951 to 1.1365 (July 22 low to August 18 high). Prices have found support at the 50% Fibonacci level of this uptrend, which lies at 1.1158. Near term bias remains on the downside and this is highlighted by the fact that RSI has been trending down and has now dipped below 50 to enter bearish territory. EURUSD has scope to fall deeper towards 1.1108, the 61.8 Fibonacci level. Below this support level, [..]

FX Daily Outlook| 29-08-16

Posted on August 29, 2016 at 1:51 pm GMT

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Technical Analysis – AUDUSD dips below 50-day moving average

Posted on August 29, 2016 at 9:53 am GMT

AUDUSD fell below the 50-day moving average on Monday, hitting a 4-week low of 0.7524. The stochastics continue to trend down, indicating ongoing downwards pressure in the short-term, but a correction could be near as it treads in oversold territory. Further losses could take prices into the Ichimoku cloud, with support coming around the key 0.75 level. The next support level is the bottom of the Ichimoku cloud at around 0.7410. Coming within close distance below the Ichimoku cloud is [..]

Technical Analysis – USDJPY jumps above 102 yen but holds neutral short term bias

Posted on August 29, 2016 at 9:10 am GMT

USDJPY jumped over 200 pips since Friday, moving off lows near 100.00 to rise above the key 102.00 level on Monday. Prices peaked at 102.30 early in European session trading. The intra-day bias is bullish but looking at the short term bias it remains neutral as the pair has been stuck in a 100 -103 range during all of August. The market would need to rise above the 103 yen level to see a shift in the bias and turn [..]

FX Daily Outlook| 26-08-16

Posted on August 26, 2016 at 3:46 pm GMT

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Technical Analysis – WTI oil pauses August rally, bullish above $46

Posted on August 26, 2016 at 8:46 am GMT

WTI oil prices staged a strong rally from the August lows of $40 a barrel to rise to a high of $49.34 on August 19. The market became overextended at these levels as shown by technical indicators. RSI reached overbought levels at 70 and the stochastic also reached extreme levels. So following from this, prices reversed back down to find support at $46.41. The short term bullish trend can be maintained if the market remains above its 50-day moving average which [..]

Technical Analysis – EURGBP maintains bullish outlook above 0.85

Posted on August 25, 2016 at 10:46 am GMT

EURGBP has pulled away from a three-year high of 0.8724 over the past week as RSI has weakened to just above 50, indicating a more neutral bias in the near term. However, prices have found immediate support around 0.8510, which is also where the Kijun-sen line has flatlined. Further declines could see the pair finding its next support at yesterday’s intra-day low of 0.8485. Below that, the 0.84 handle comes in focus, which is a short distance above the 50-day [..]

Technical Analysis – GBPUSD short term rally stalls

Posted on August 25, 2016 at 9:24 am GMT

The short term bias in GBPUSD remains on the upside for the moment but has stalled at 1.3272. The pair rose from 1.2864 to a high of 1.3272 yesterday. Upside momentum can be sustained if RSI continues to rise within bullish territory above 50. Looking at the medium term picture GBPUSD has been mostly trading sideways within a range with resistance at 1.3372 and 1.3500. Major support lies at 1.3000. Breaking below this level would likely increase downside pressure and [..]