FX Daily Outlook| 29-07-16
Posted on July 29, 2016 at 9:04 am GMT[..]
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Technical Analysis – AUDUSD capped at 0.7550; struggles to hold to positive bias
Posted on July 28, 2016 at 1:38 pm GMTAUDUSD headed higher today on increased upside momentum, however its gains were capped just below 0.7550, which has been acting as a key resistance area in recent weeks. This is also the 23.6 % Fibonacci retracement level of the May-July upleg from 0.7144 to 0.7676 and prices are likely to struggle to make significant headway above this level without stronger upside momentum. But with RSI barely above 50, the near-term outlook is looking neutral to positive. AUDUSD would need to [..]
FX Daily Outlook| 28-07-16
Posted on July 28, 2016 at 8:59 am GMT[..]
Technical Analysis – USDJPY falls below key support of 105 yen
Posted on July 28, 2016 at 7:44 am GMTUSDJPY fell below the key 105 level which was previously acting as major support but has now turned into resistance. The failure of the market to make a sustained move higher from 105.00 would suggest that a top is now in place at 107.48 with a bias for further downside. Therefore, the rise from 99.98 to 107.48 (July 8 to July 21 rally) was probably a corrective move and the market could resume its downtrend that has been in place [..]
FX Daily Outlook| 27-07-16
Posted on July 27, 2016 at 9:24 am GMT[..]
Technical Analysis – USDCAD upside pressure weakens around 1.3240
Posted on July 27, 2016 at 7:33 am GMTUSDCAD remains bullish in the short term but upside pressure has weakened. The recent rally from the 1.27 area was curbed at 1.3241. Momentum has not turned negative yet and RSI is still in bullish territory above 50, while MACD is above zero. There is scope for prices to rise towards the 200-day moving average at 1.3307. This would be seen a strong resistance area though. Downside moves should find support in the 1.30 area and at the 50-day moving [..]
FX Daily Outlook| 26-07-16
Posted on July 26, 2016 at 9:02 am GMT[..]
Technical Analysis – USDJPY reverses and resumes bearish bias
Posted on July 26, 2016 at 7:37 am GMTUSDJPY has fallen sharply early on Tuesday, heading towards support at 103.80, which is where the 21-day moving average lies. The market reversed back down from the peak of 107.48 reached last week. In the bigger picture, USDJPY maintains its bearish trend as prices continue to fall within the downward channel. RSI has broken below 50 and has dipped into bearish territory, indicating the downside bias of the market. There is scope to target the July 8 low of 99.98. [..]
Technical Analysis – Gold stuck in neutral bias as momentum wanes
Posted on July 25, 2016 at 1:33 pm GMTGold has slowly drifted lower from its 1¼-year high of 1375 at the start of the month to move towards the 38.2% Fibonacci retracement level of the May-July upleg from 1199.64 to 1375.00. The 23.6% Fibonacci level has proven a key resistance area around 1335 in recent days, with prices struggling to make much headway above this level. Both the RSI and the MACD are pointing to continued waning of momentum, with the RSI dipping just below neutral ground, though [..]
FX Daily Outlook| 25-07-16
Posted on July 25, 2016 at 9:10 am GMT[..]
