Technical Analysis / Page 636

Technical Analysis – GBPJPY rebounds on 5-month low; indicators signal bullish bias

Posted on June 7, 2019 at 7:09 am GMT

GBPJPY is trading not too far from the five-month low of 136.55, having pulled back slightly. The momentum indicators suggest there is still some upside for the pair to advance again, despite the downward movement on the red Tenkan-sen line. The near-term bias is looking neutral-to-bullish as the RSI is flattening near the 30-oversold level, while the MACD oscillator is heading marginally up, above the trigger line. The stochastics are pointing north and the %K and %D lines remain positively aligned. Should GBPJPY [..]

Technical Analysis – CADJPY remains in bearish phase

Posted on June 6, 2019 at 1:29 pm GMT

CADJPY has been finding strong resistance on the 38.2% Fibonacci retracement level of the downward wave from 89.25 to 76.60, near 81.42, falling beneath the 20-simple moving average (SMA) in the daily chart. Having a look at the momentum indicators, the RSI is sloping down below the neutral threshold of 50 and the MACD is hovering near the trigger line and below the zero line. A step lower could find immediate support at the 79.94 support and the 23.6% Fibonacci of 79.65. More downside [..]

Technical Analysis – GBPCAD is neutral in very short-term; advances are expected

Posted on June 6, 2019 at 12:15 pm GMT

GBPCAD has been on the sidelines for the most part of the week as the 1.7130 level seems to be a real struggle for the bulls. Technically, the price could lose some ground in the short-term as the RSI is flattening near the 30 mark, while the stochastics are warning of an oversold market, but it seems to be turning higher in the daily chart. A rebound on the 1.6970 support could keep the pair in a narrow range, challenging again the 1.7130 resistance, [..]

Technical Analysis – EURAUD capped by 20-SMA; holds in ascending channel

Posted on June 6, 2019 at 8:59 am GMT

EURAUD recorded some losses in the past few days, crossing below its 20-day simple moving averages (SMA) to touch the 1.6050 support level. The short-term picture thus seems to be slightly negative, though for the medium-term outlook looks to be positive, as it has been developing in an ascending channel since December 2018. Short-term momentum indicators suggest the rally may be losing steam. The RSI seems to have flattened near its 50 zone, while the MACD appears ready to drop below [..]

Technical Analysis – NZDUSD bullish near one-month highs; outlook turns positive in near term

Posted on June 6, 2019 at 7:21 am GMT

NZDUSD had one of its best trading sessions for this year, this week, gaining more than 1.4% to edge above its short-term moving averages in the daily timeframe and reach a fresh one-month high of 0.6665 on Wednesday. The technical indicators are still flashing bullish, with the MACD stretching further above its red trigger line and the RSI moving above its 50 neutral level. The red Tenkan-sen line of the Ichimoku cloud could be an indication that the rally is overdone as it is flattening, and hence negative corrections should [..]

Technical Analysis – EURGBP bulls look exhausted near 5-month high

Posted on June 6, 2019 at 7:16 am GMT

EURGBP stretched its four-week rally to an almost five-month high of 0.8900 on Tuesday before pulling slightly lower. The MACD seems to be losing momentum below its red signal line, the RSI is still hovering around its 70 overbought mark and the red Tenkan-sen is flattening well above the blue Kijun-sen, all signaling a more cautious trading in the short term. The market trend, however, is likely to hold on the upside as long as the price holds far above its moving averages and the Ichimoku cloud. Should [..]

Technical Analysis – US 500 index buying interest in progress

Posted on June 5, 2019 at 1:14 pm GMT

The US 500 stock index has rebounded somewhat after falling to a three-month low of 2728.50 and the momentum indicators suggest that the market sentiment might get better as the RSI is reversing back to the upside and the MACD also looks to be changing direction, moving down to meet its red signal line in the negative zone. Should bullish dynamics dominate, the market might revisit the lower surface of the Ichimoku cloud and the flat Kijun-sen line currently at 2840. [..]

Technical Analysis – USDCHF could see further weakness; hovers above 10-week low

Posted on June 5, 2019 at 8:47 am GMT

USDCHF is extending its bearish rally over the last few days, breaking the long-term rising trend line to the downside. The pair tumbled to a new ten-week low around the 0.9900 handle and technical indicators are still suggesting losses in the market. The MACD is stretching its bearish momentum below the trigger and zero lines, while the RSI is flattening near the 30 level. The pair entered into bearish mode, edging towards the 50.0% Fibonacci retracement level of the upward [..]

Technical Analysis – AUDUSD could cautiously gear up in short-term

Posted on June 5, 2019 at 7:17 am GMT

AUDUSD gained stronger positive traction this week, with momentum indicators giving the green light for further bullish action in the short term; the MACD is in an uptrend well below its red signal line, while the RSI is speeding up above its 50 neutral level. According to Stochastics though, room for improvement could be limited as the index has already pierced its 80 overbought mark. The rally could get more legs if the market manages to clear the 0.7024-0.7050 congested area, while slightly higher the 50% Fibonacci of [..]

Technical Analysis – EURJPY struggles below 40-SMA after pullback on 5-month low

Posted on June 5, 2019 at 6:37 am GMT

EURJPY had a bullish start on Monday, after the strong rebound on the five-month low of 120.77, with the price breaking a crucial level of 121.00 and the 20-period simple moving average (SMA) in the 4-hour chart. The pair is approaching its negatively sloped 40-SMA, which is acting as a key resistance level. The RSI and the stochastic oscillator are suggesting a possible overstretched market as both are returning slightly lower. The stochastic posted a bearish crossover within the %K [..]

Legal disclaimer: The material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instruments. XM accepts no responsibility for any use that may be made of these comments and for any consequences resulting in it. No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. The research and analysis does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it.

It has not been prepared in accordance with legal requirements designed to promote the independence of research, and as such it is considered to be marketing communication. Although we are not specifically constrained from dealing ahead of the publication of our research, we do not seek to take advantage of it before we provide it to our clients. We aim to establish, maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. We operate a policy of independence, which requires our employees to act in our clients’ best interests and to disregard any conflicts of interest in providing our services.

CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losing all of your invested capital, so please make sure that you fully understand the risks involved.

How can we help?

Live Chat Terms

How to Access

Telegram Chat Terms

Technical Analysis