Technical Analysis

Technical Analysis – EURJPY remains on downside after fall below 122

Posted on June 6, 2016 at 7:41 am GMT

EURJPY increased its bearish bias after falling below the key 122 yen level last week. The pair has been making lower lows and lower highs for the past one year since falling from the peak of 141.04 in June 2015. Prices have been falling in a descending channel to reach a low of 120.81 on Friday, a more than three-year low. The daily technicals are supporting the bearish view. RSI is below 50 and MACD is below zero. The market [..]

FX Daily Outlook| 03-05-16

Posted on June 3, 2016 at 9:41 am GMT

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Technical Analysis – EURUSD maintains neutral bias below 1.12

Posted on June 3, 2016 at 7:34 am GMT

EURUSD maintains a neutral bias in the short term as it continues to trade sideways in a range of 1.1100 and 1.1220. Downside risk exists as the daily RSI remains below 50 in bearish territory. Immediate support is provided by the 200-day moving average at 1.1095, while below this the 50% Fibonacci at 1.1067 (retracement of the upleg from 1.0520 to 1.1615) is an important level. A break below this level would shift the pair’s longer-term bias, which was in [..]

Technical Analysis – NZDUSD finds resistance at 50-DMA after two-day rally

Posted on June 2, 2016 at 9:57 am GMT

NZDUSD has seen a partial reversal of the January-April uptrend that took prices from 0.6346 to 0.7053. It has now retraced 38.2% of this upleg, having rebounded from sharper losses that drove the pair below the 50% Fibonacci level. Prices have been capped by the 50-day moving average at around 0.6830 for the past two days as the upside momentum from earlier in the week has started to fade. RSI has already dipped back towards neutral at 50, while the [..]

FX Daily Outlook| 02-06-16

Posted on June 2, 2016 at 9:29 am GMT

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Technical Analysis – EURGBP in descending channel, below 0.80

Posted on June 2, 2016 at 7:40 am GMT

EURGBP appears to be on a downward trajectory. The pair has been in a descending channel during the past two months, falling from a high of 0.8116 and breaking below the key 0.80 level and below the 50-day and 100-day moving averages. This brings a shift to the recent bullish bias from 0.6981 to 0.8116. There was an upward move in the past two days but prices stalled just below the 100-day moving average, which will likely restrict any upside [..]

FX Daily Outlook| 01-06-16

Posted on June 1, 2016 at 9:52 am GMT

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Technical Analysis – GBPUSD downside risk; 50-day MA supports

Posted on June 1, 2016 at 7:35 am GMT

GBPUSD is now forming a neutral bias after the bullish move from 1.4004 to 1.4768 stalled and the market is consolidating just above the 50% Fibonacci of this upleg from April to May. This Fibonacci level lies just below the key psychological 1.44 level at 1.4386. The high of 1.4768 is the extent of the bullish phase and the short term bias has shifted to neutral, and will remain so as long as the market remains above the 50% Fibonacci. [..]

FX Daily Outlook| 31-05-16

Posted on May 31, 2016 at 8:27 am GMT

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Technical Analysis – USDJPY shifts from neutral to bullish above 111 yen

Posted on May 31, 2016 at 7:31 am GMT

USDJPY broke out of its recent range that kept it below 110.57 and the pair rose above this level on Monday to reach a high of 111.44. This strong upside move has shifted the short term bias from neutral to bullish. MACD has just crossed above zero and this favours a bullish outlook. RSI is above 50 in bullish territory. Upside momentum has picked up and RSI is now trending higher, suggesting there is scope for further upside. The next [..]

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