Technical Analysis

Technical Analysis – Silver maintains bullish bias

Posted on June 28, 2016 at 7:53 am GMT

Silver has been on an upward trajectory since bouncing from the December 2015 low of 13.62. After quite a big dip in May to 15.79, prices rose back up and peaked at 18.29 last Friday before stabilizing. This is the highest in 1 ½ years. The technicals are still indicating a bullish bias – MACD above zero, RSI above 50 and there was a bullish crossover of the 50-day moving average with the 200-day moving average in March. The market [..]

FX Daily Outlook| 27-06-16

Posted on June 27, 2016 at 12:53 pm GMT

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Technical Analysis – GBPJPY strengthens bearish bias after drop to 3 ½ year low

Posted on June 27, 2016 at 9:03 am GMT

GBPJPY tumbled to a low of 133.19 on Friday, touching the lowest level since December 2012. This fall has strengthened the downtrend that started from 195.87 back in June 2015. Prices have paused their decline to currently trade just above 137.00 as RSI has reached oversold levels but the bias remains to the downside. Upside moves will be limited by resistance at 145.38 (June 16 low) and above this 151.63 is another barrier at the April 2016 low. The technicals [..]

Technical Analysis – UK 100 stock index futures sharply reverses upside bias

Posted on June 24, 2016 at 3:15 pm GMT

The UK 100 stock index futures sharply reversed their week-long rally to hit a 4½-month low of 5668.0 earlier today. This represents a drop of 11.35% from yesterday’s close and is just above the 78.6% Fibonacci retracement level of the February-June upleg from 5446.3 to 6394.0. Today’s plunge took the index back below the 50-day moving average, having only recently recovered above it. RSI has wiped out the positive momentum to fall just below 50, suggesting a shift in the [..]

FX Daily Outlook| 24-06-16

Posted on June 24, 2016 at 12:09 pm GMT

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Technical Analysis – Gold turns bullish after big surge above 1300

Posted on June 24, 2016 at 10:23 am GMT

Gold turned more bullish after a big surge on Friday morning to a more than two-year high of 1358.20. Prices made an 8% jump since yesterday’s close of 1255.13. Gold had started an uptrend since November 2015 when prices bounced from 1046.29 and rose to find strong resistance at the key 1300 level. After trading in a range since February between 1200 and 1300, the market has broken out and is now eyeing the 2014 high of 1392.07. In the [..]

Technical Analysis – NZDUSD strongly bullish at one-year high

Posted on June 23, 2016 at 2:07 pm GMT

NZDUSD climbed to fresh one-year highs on Thursday, peaking at 0.7253 before easing to around 0.7225. The pair has been on a steady uptrend since coming off its January low of 0.6346. However, the rally has picked up a gear since the end of May, with prices breaking above the upper Bollinger band on several occasions. All indicators continue to point to strong ongoing upside momentum with the MACD trending up in bullish ground, while there are no signs yet [..]

FX Daily Outlook| 23-06-16

Posted on June 23, 2016 at 9:02 am GMT

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Technical Analysis – EURGBP neutral bias with downside risk

Posted on June 23, 2016 at 7:26 am GMT

EURGBP has a neutral short term bias, capped below the key 0.80 level and is above the 50% Fibonacci retracement level of the November to April upleg from 0.6981 to 0.8116. This level lies at 0.7547 and acts as important support, which if broken, would shift the outlook from neutral to bearish. The next target down would be at 0.7414, the 61.8% Fibonacci retracement level. Upside momentum was lost after RSI fell below 50 into bearish territory last week, which [..]