Technical Analysis

Technical Analysis – US oil futures in first bullish crossover since 2014

Posted on May 11, 2016 at 1:32 pm GMT

US oil futures have held on to their recent gains amid ongoing daily price volatility in the commodity. Prices touched a 6-month high of 46.76 on April 29 and have been trading above the 43 level since. The recent gains have driven the 50-day moving average above the 200-day moving average for the first bullish crossover in the daily chart since April 2014. Both the RSI and the MACD remain in positive territory above 50, indicating there is scope for [..]

FX Daily Outlook| 11-05-16

Posted on May 11, 2016 at 9:15 am GMT

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Technical Analysis – USDJPY rises above 108, has scope for more recovery

Posted on May 11, 2016 at 7:44 am GMT

The short term outlook for USDJPY turned bullish after prices broke above the key 108 level this week. The pair has retraced more than half of the April to May decline after rebounding from the low of 105.54 and rising steadily to a 2-week high of 109.36 today before turning back down. There appears to be strong resistance around the 61.8% Fibonacci level at 109.38 (retracement of the downleg from 111.87 to 105.54). Immediate support is now being provided by [..]

Technical Analysis – German 30 stock index futures neutral around 50-DMA

Posted on May 10, 2016 at 1:30 pm GMT

The German 30 stock index futures has seen a shift in bias from positive to neutral over the past two weeks as prices have dropped from above the 200-day moving average to around the 50-day moving average. The index has rebounded somewhat from Friday’s lows but prices were capped today by the 38.2% Fibonacci retracement level of the April 2015 to the February 2016 downleg from 12404 to 8695.50. The current upward momentum already appears to be waning with the [..]

FX Daily Outlook| 10-05-16

Posted on May 10, 2016 at 8:18 am GMT

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Technical Analysis – NZDUSD bearish after falling out of rising channel

Posted on May 10, 2016 at 7:16 am GMT

NZDUSD has been in a rising channel since mid-January, rising from 0.6346 to a high of 0.7053 reached in April. There was failure to remain above the key 0.70 level and breaking below this support are accelerated a decline out of the channel. This was a strong negative signal. Prices also fell below the 38.2% Fibonacci level (retracement of the rise from 0.6346 to 0.7053) and are currently around 0.6732. The short-term outlook is bearish as RSI has fallen below [..]

FX Daily Outlook| 09-05-16

Posted on May 9, 2016 at 8:52 am GMT

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Technical Analysis – EURJPY outlook remains bearish in falling channel

Posted on May 9, 2016 at 7:19 am GMT

EURJPY remains under pressure after falling to the lowest level since March 2013 on Friday when prices dipped to 121.47. The markets remains below the moving averages. There was a bearish cross of the 50-day below the 200-day moving average. Prices continue to fall in a one-year old descending channel. The 122.00 level is important support and 124.00 is resistance. The overall trend appears to be bearish as the MACD remains below zero. RSI is below 50, also in bearish [..]

FX Daily Outlook| 06-06-16

Posted on May 6, 2016 at 8:33 am GMT

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Technical Analysis – EURUSD pauses uptrend, tests key 1.14 level

Posted on May 6, 2016 at 7:28 am GMT

The overall technical picture for EURUSD remains bullish, as the pair staged a rally from 1.0520 to 1.1615 (December to May). The technical indicators – RSI and MACD are in bullish territory, supporting the bullish market structure. But after hitting the high at 1.1615, prices reversed lower to find support around the 1.1400 area. Clearer signals are needed to see if this fall is a correction of the recent uptrend or if it is a reversal of the upside move. [..]

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