Technical Analysis

Technical Analysis – EURJPY remains bearish as rebound falters

Posted on July 5, 2016 at 9:06 am GMT

EURJPY was heading back down today as the four-day rally that came after the June 24 slump faltered. Prices were unable to rebound beyond 114.80, making the 114.80-115 region a key resistance area to break in order to achieve a more sustained rally. The next key resistance on the horizon is the 20-day moving average at 117. However, with the momentum indicators looking increasingly bearish, further gains are looking unlikely in the near term. Extended losses could see EURJPY finding [..]

FX Daily Outlook| 04-07-16

Posted on July 4, 2016 at 10:12 am GMT

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Technical Analysis – Gold attempts fresh 2-year highs as upside momentum strengthens

Posted on July 4, 2016 at 9:29 am GMT

Gold hit its highest in over a week, reaching 1357.26 earlier today, not far from the two-year high of 1358.23 it touched on June 24. The upside momentum in place since then has started to strengthen again after weakening slightly at around the middle of last week. RSI continues to rise but the possibility of a near-term correction has increased as it approaches overbought territory at 70. There’s already been some pull back today with prices falling back towards the [..]

FX Daily Outlook| 01-07-16

Posted on July 1, 2016 at 11:24 am GMT

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Technical Analysis – AUDJPY maintains downtrend after recent slide

Posted on July 1, 2016 at 9:29 am GMT

AUDJPY has rebounded from the 5¼-year low of 72.41 it touched a week ago to around 76.70 today. However, prices remain significantly below the Ichimoku cloud and the 200-day moving average, underlining the medium-term bearish outlook. In the near-term, the stochastics point to a weak upside momentum following the partial rebound seen over the past three days. The converged tenkan-sen and kijun-sen lines are currently capping further gains by providing resistance at around the 77 level. Should the upside momentum [..]

FX Daily Outlook| 30-06-16

Posted on June 30, 2016 at 10:12 am GMT

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Technical Analysis – EURGBP strongly bullish at 2-year highs

Posted on June 30, 2016 at 9:38 am GMT

EURGBP appears to have resumed its upward trend that began in December 2015 following a two-month correction that saw the pair drop from of 0.8116 to 0.7564. The near term bias has turned strongly bullish after last Friday’s surge with prices hitting a fresh 2¼-year high of 0.8378 on Monday. The MACD has reversed sharply from negative to positive territory but with RSI hitting overbought levels, EURGBP is already showing signs of consolidation. Prices have dipped back below the upper [..]

FX Daily Outlook| 29-06-16

Posted on June 29, 2016 at 10:53 am GMT

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Technical Analysis – WTI oil futures struggle to hold onto 50-day moving average

Posted on June 28, 2016 at 10:27 am GMT

WTI oil futures closed below the 50-day moving average on Monday for the first time since February but managed to recover above it in European trading today. The 50-day moving average has been broadly following oil’s upward trend path since March and the drop below it suggests a weakening of the bullish bias. RSI falling below 50 is another indication of the current weakened momentum. Prices found support yesterday just below the 23.6% Fibonacci retracement level of the January-June upleg [..]