FX Daily Outlook| 24-05-16
Posted on May 24, 2016 at 8:46 am GMT[..]
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Technical Analysis – USDCAD rises to 7-week high
Posted on May 24, 2016 at 7:32 am GMTUSDCAD rose to a fresh 7-week high early on Tuesday at 1.3176. RSI is trending upwards and has not entered overbought territory yet, so there is room for further upside. The market is close to the April 4 high of 1.3217. If it is surpassed, there is scope to target 1.3310, which is the 38.2% Fibonacci retracement level of the downleg from 1.4689-1.2460. From here, the aim will be the 200-day moving average at 1.3355. Alternatively, if the market reverses [..]
Technical Analysis – US 500 index futures turn neutral, move into cloud
Posted on May 23, 2016 at 1:50 pm GMTThe US 500 stock index futures has been losing momentum since the February-April rally came to a halt in late April. The index has been moving towards the ascending Ichimoku cloud in the past few days, with the 50-day moving average acting as a resistance since prices slipped below it, while the top of the cloud has been providing support. The near-term bias is neutral as RSI is flat just below 50 and the MACD signal line is levelling off [..]
FX Daily Outlook| 23-05-16
Posted on May 23, 2016 at 9:29 am GMT[..]
Technical Analysis – EURUSD pauses decline, rises back above key 1.12 level
Posted on May 23, 2016 at 7:35 am GMTEURUSD remained above the key 1.12 level for a second trading day after dipping below it last Thursday for the first time since late-March. The lower Bollinger Band at 1.1179 lent support and helped prices bounce. The 1.12 level is now acting as an immediate support level. It is also the 38.2% Fibonacci level of the retracement of the upleg from 1.0520 to 1.1615. Below this level, the 50% Fibonacci lies at 1.1067. A drop below this would shift the [..]
FX Daily Outlook| 20-05-16
Posted on May 20, 2016 at 8:02 am GMT[..]
Technical Analysis – Gold bounces up from key Fibonacci level
Posted on May 20, 2016 at 7:53 am GMTGold prices found support at the 23.6% Fibonacci level at 1243.02, which is the retracement of the upleg from 1047.57 to 1303.58 (December to May rise). Prices bounced up from this level, which could indicate that the decline from the 4-month peak of 1303.58 was a correction and the bullish market structure that was in place from 1047.57 could continue. The bullish crossover of the 50-day moving average above the 200-day moving average in February was a bullish signal. While [..]
FX Daily Outlook| 19-05-16
Posted on May 19, 2016 at 8:37 am GMT[..]
Technical analysis – USDJPY breaks out of range, extends bullish phase
Posted on May 19, 2016 at 7:27 am GMTUSDJPY turned more bullish after breaking out of a recent range that kept the pair within the 108 level and the 61.8% Fibonacci at 109.39 (which is the retracement of the downleg from 111.87 and 105.54). There is scope for further upside momentum as RSI has risen above 50 into bullish territory. Prices would need to break above 110.50 in order to clear the way for a retest of the April 28 high at 111.87 and see a continuation of [..]
FX Daily Outlook| 18-05-16
Posted on May 18, 2016 at 9:20 am GMT[..]
