FX Daily Outlook| 07-12-16
Posted on December 7, 2016 at 9:15 am GMT[..]
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Technical Analysis – USDJPY neutral at overbought levels; bullish structure remains
Posted on December 7, 2016 at 8:39 am GMTUSDJPY hit a 10-month high of 114.82 on December 1 and has since struggled to advance further. The bullish market structure remains in place but in the near term the bias has turned neutral as the market consolidates gains after the strong rally that took prices to overbought levels. RSI remains in overbought territory above 70 although the indicator has eased lower from last week’s high of 85. Any decline in USDJPY is expected to find immediate support at 112.86 [..]
Technical Analysis – Japan 225 stock index strongly bullish at 11-month high
Posted on December 6, 2016 at 11:43 am GMTThe Japan 225 stock index has eased from the 11-month high it set last week but the momentum for Japan’s leading share index remains strongly positive. The index hit the highest since January on December 2nd, peaking at 18747. It has now retraced around 60% of the downtrend that took place between June 2015 (20945) and February 2016 (14776). Prices are currently finding resistance at the 61.8% Fibonacci retracement level of this downleg at around 18585. The near-term bias is [..]
FX Daily Outlook| 06-12-16
Posted on December 6, 2016 at 10:51 am GMT[..]
Technical Analysis – AUDJPY bullish above 200-day moving average
Posted on December 6, 2016 at 9:04 am GMTAUDJPY staged a strong rally from September to reach a high of 85.53 on Monday, the highest since April 24. The crossover of the 50-day moving average above the 200-day moving average that took place at the end of November was a strong bullish signal. The overall market structure is bullish in the short term so there is scope for further upside. The next target would be 86.30, which is an area that was tested several times in March and [..]
FX Daily Outlook| 05-12-16
Posted on December 5, 2016 at 1:48 pm GMT[..]
Technical Analysis – EURUSD drops to 20-month low; bearish bias below 1.07
Posted on December 5, 2016 at 9:03 am GMTEURUSD tumbled to a 20-month low early on Monday to touch 1.0505. Prices consequently bounced higher to retrace most of the morning’s losses but the overall bias is still bearish. After breaking below the key 1.0700 level in mid-November, the market reached oversold territory as RSI fell below 30. This led to a consolidation and the market is now neutral in the near term. Strong resistance now lies at this key level of 1.0700 so any rallies are expected to [..]
FX Daily Outlook| 02-12-16
Posted on December 2, 2016 at 12:51 pm GMT[..]
Technical Analysis – GBPUSD rally fails to break 1.2700
Posted on December 2, 2016 at 9:35 am GMTGBPUSD had a strong bullish run this week to come close to the key 1.2700 level on Thursday but failed to break above it. Momentum is improving as RSI is above 50 and is rising so there is a possibility of further upside to target resistance at 1.2732 upon a sustained break above 1.2700. This resistance level is the 50% Fibonacci retracement level of the September to October downleg from 1.3400 to 1.2025. If the market holds above this level to [..]
FX Daily Outlook| 01-12-16
Posted on December 1, 2016 at 9:37 am GMT[..]
