Technical Analysis

Technical Analysis – EURUSD neutral above 50-day moving average

Posted on February 13, 2017 at 7:13 am GMT

EURUSD has been reversing its upward trend that took place from early January until early February. The pair fell to a more than 3-week low of 1.0607 on Friday and has found support at the 50-day moving average. The market has retraced half of its gains made since early January. A further decline would bring prices to the 50% Fibonacci retracement level of the rally from 1.0339 to 1.0828. (January 3 to February 2 upleg). The 50% Fibonacci lies at [..]

Technical Analysis – EURJPY medium-term bullishness at risk below 50-day moving average

Posted on February 10, 2017 at 3:01 pm GMT

EURJPY has been trading below 123.00 for the most part of this year so far. While medium-term bullishness is still intact, the bias in the near term is bearish, especially after the market has fallen below the 50-day moving average since the beginning of February. The decline in prices coincided with a drop in momentum. Consequently, the RSI indicator fell into bearish territory below 50. EURJPY found support at around 119.50 before turning back up. There is now scope to [..]

FX Daily Outlook| 08-02-17

Posted on February 8, 2017 at 10:56 am GMT

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Technical Analysis – EURUSD maintains bearish market structure

Posted on January 3, 2017 at 8:07 am GMT

EURUSD is maintaining an overall bearish market structure as prices remain below the 50 and 200-day moving averages. After a brief attempt for a correction to 1.0651 on December 30, 2016, prices fell back below what was a key support level at 1.0500 and the downtrend appears to be resuming. The level at 1.0500 has now turned into resistance and major support now lies at 1.0400. RSI remains below 50 in bearish territory and suggest that downside momentum for EURUSD [..]

FX Daily Outlook| 23-12-16

Posted on December 23, 2016 at 10:09 am GMT

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Technical Analysis – Gold bearish in downward channel

Posted on December 23, 2016 at 8:52 am GMT

Gold maintains a bearish market structure. After a drastic sell-off on November 10, prices fell below the 200-day moving average, giving a bearish signal. Gold has been falling in a downward channel ever since the occurrence of a bearish crossover of the 50-day moving average with the 200-day moving average on November 18. Prices reached the lowest level in 10 months on December 15 to touch 1122.66. Since then, the market has been consolidating as the RSI indicator entered oversold [..]

FX Daily Outlook| 21-12-16

Posted on December 21, 2016 at 9:59 am GMT

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Technical Analysis – EURUSD struggling at 1.0400, remains bearish

Posted on December 21, 2016 at 9:28 am GMT

EURUSD is struggling around the key 1.0400 level after closing below it on Tuesday to touch a 14-year low of 1.0351. The RSI reached near oversold levels at 30, which is signaling that the market could consolidate in the near term at current levels, or bounce higher. A close above 1.0400 could see prices correct to 1.0500, which would act as a strong resistance level. From here, prices would target 1.0670. This level has been tested several times recently and [..]

FX Daily Outlook| 20-12-16

Posted on December 20, 2016 at 10:05 am GMT

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Technical Analysis – NZDJPY pauses uptrend, bullish bias remains

Posted on December 20, 2016 at 8:53 am GMT

NZDJPY paused its strong rally that took the pair to a high of 83.71 on December 15. This was the highest level since mid-2015. The market structure remains bullish but in the near term the market is consolidating as upside momentum has lost some steam. It can be seen that the daily RSI has fallen sharply but still remains in bullish territory above 50. The indicator rose into overbought territory last week and this consequently led to NZDJPY making a [..]

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