FX Daily Outlook| 23-11-16
Posted on November 23, 2016 at 10:01 am GMT[..]
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FX Daily Outlook| 23-11-16
Posted on November 23, 2016 at 9:53 am GMT[..]
Technical Analysis – EURUSD pauses downtrend at 1.06, remains pressured
Posted on November 23, 2016 at 9:10 am GMTEURUSD stalled the downtrend and is testing the key 1.0600 level this week. The recovery has been mild from a near 1-year low of 1.0568 touched last Friday. EURUSD remains pressured to the downside as momentum indicators are bearish. MACD is below zero and RSI is below 50. However, since the daily RSI is at oversold levels at 30 this suggests consolidation in the near term. The bearish cross of the 50-day moving average below the 200-day moving average in [..]
Technical Analysis – Gold pauses decline just above key 1200 support
Posted on November 22, 2016 at 2:37 pm GMTGold’s decline stopped just ahead of the key 1200 level. After reaching a 5-month low of 1202.80 on Friday, prices rebounded to 1220 early on Tuesday. The market is now at a critical area near the 50% Fibonacci retracement level (1210.18) of the rise from 1046.29 to 1375 (December 2015 to July 2016 rally). If the market falls below the 50 % Fibonacci, the bias would shift to bearish. Technical signals are negative as the market is below the 200-day [..]
FX Daily Outlook| 21-11-16
Posted on November 21, 2016 at 10:19 am GMT[..]
Technical Analysis – USDJPY bullish but finds resistance at key 111.00 level
Posted on November 21, 2016 at 8:59 am GMTUSDJPY peaked above the key 111.00 level on Monday to reach a 5-month high of 111.17. The market has now almost recouped half of the losses made from a year ago. The market is nearing the 50% Fibonacci of the decline from 123.66 to 98.96. The area around the 50% Fibonacci level at 111.37 and the key psychological level of 111.00 is an important resistance zone which needs to be cleared in order to change the long-term market structure to [..]
Technical Analysis – EURGBP turns bearish after fall below 0.87 and 200-day MA
Posted on November 18, 2016 at 10:09 am GMTEURGBP continues to weaken after the drop below the 200-day moving average on November 11. Momentum indicators are negative and are highlighting the bearish market structure in the short term. But with the daily RSI reaching oversold levels, this suggests the market could consolidate and find support at 0.8530 in the near term. This level is the 78.6% Fibonacci retracement of the September to October rise from 0.8330 to 0.9261. Sustained trading below 0.8700 will likely maintain a bearish bias. [..]
FX Daily Outlook| 18-11-16
Posted on November 18, 2016 at 8:37 am GMT[..]
FX Daily Outlook| 17-11-16
Posted on November 17, 2016 at 9:06 am GMT[..]
Technical Analysis – NZDUSD pauses decline to find support at 200-day moving average
Posted on November 17, 2016 at 8:35 am GMTNZDUSD has found support at the 200-day moving average at 0.7025 on Wednesday after declining from the November 8 high of 0.7402. The market shifted to a more bearish bias after breaking below the 50-day moving average a week ago and broke below what was considered to be strong support at the key psychological level at 0.7200. NZDUSD also broke below an uptrend line that started from January but prices are rising today to test this line which is acting as [..]
