Technical Analysis

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Technical Analysis – AUDUSD near-term uptrend set to continue

Posted on January 20, 2017 at 8:36 am GMT

AUDUSD has been moving up since the beginning of the year with technical indicators currently projecting a continuation of the uptrend in the short-term. The RSI indicator is in bullish territory at 65, well above the 50 threshold that separates positive from negative near-term momentum. This view is reinforced by the stochastics as the %K line is at bullish levels as well (at 73), after recently coming off from overbought territory. The price at the time of writing is 0.7560, [..]

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Technical Analysis – USDJPY looking neutral after recent consolidation

Posted on January 19, 2017 at 1:27 pm GMT

USDJPY steadied today following this week’s sharp fluctuations. The price at the time of writing is at 114.64. Looking at the RSI indicator, it is strictly speaking in bearish territory at 47, but this mark is close to the neutral 50 level, perhaps indicating that consolidation since mid-December will likely continue in the near term. The price is currently just above the 50-day moving average (MA) and the 23.6% Fibonacci retracement level of the November 3 to December 15 upleg. Should the [..]

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Technical Analysis – EURGBP bullish over the short-term; a note of caution by the MACD

Posted on January 19, 2017 at 8:10 am GMT

EURGBP has edged slightly lower during today’s trading so far. The price at the time of writing is at 0.8656. The short-term bias as indicated by the RSI is positive as the indicator is in bullish territory at 56. This view is reinforced by the MACD which is above the zero mark. It should be taken into account though that the red signal line is at risk of crossing above the histogram. This could be an early sign of a change [..]

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Technical Analysis – GBPJPY still bearish as it falls into the cloud

Posted on January 18, 2017 at 8:54 am GMT

GBPJPY has been slightly down since the beginning of today’s trading. The price at the time of writing is at 139.495. Looking at the Ichimoku analysis, the Tenkan-sen line (red) has recently crossed below the Kijun-sen (blue). This alignment is a bearish short-term signal. Adding to this is the RSI indicator at 41, in bearish territory too. Extending on Ichimoku, it is of note that prices are currently within the cloud. Should they emerge on top of it we could [..]

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Technical Analysis – USDCHF in short-term negative trend

Posted on January 17, 2017 at 8:43 am GMT

USDCHF has been experiencing losses throughout the day so far. The price at the time of writing is at 1.0065. Looking at the MACD indicator, it is in negative territory below the zero mark, while the red signal line crossed above the MACD histogram in late December, marking another negative signal that could indicate further price declines over the short term. As regards the stochastics, the %K line is at 24, while it has recently crossed below the slow %D line. [..]

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Technical Analysis – EURJPY in bearish short-term alignment

Posted on January 16, 2017 at 11:34 am GMT

EURJPY has been edging lower during today’s trading session. The price at the time of writing is at 120.964. Looking at the Ichimoku analysis, the Tenkan-sen line (red) has recently crossed below the Kijun-sen (blue). This alignment is a signal of negative short-term sentiment for the pair. Adding to evidence of a downside bias over the short-term is the RSI indicator which is at 43, below the 50 threshold that distinguishes negative from positive short-term sentiment. On the upside, the Tenkan-sen [..]

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Technical Analysis – EURUSD recording gains despite longer-term bearish trend

Posted on January 16, 2017 at 8:59 am GMT

EURUSD opened Monday lower from Friday’s close but it’s been posting some minor gains since the beginning of today’s trading session. The price at the time of writing was 1.0616. The RSI indicator is in bullish territory indicating positive short-term momentum. It has remained in this area during the three previous trading days as well; a period that the pair has been on the rise. It is of note though that RSI is currently at 55, not far above the [..]

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Technical Analysis – Germany 30 stock index recording gains, reaching 17-month high

Posted on January 13, 2017 at 9:16 am GMT

The Germany 30 stock index has eased off from the 17-month high reached on January 11, but it has been trading close to that level since. Looking at the Ichimoku analysis, the Tenkan-sen line (red) has been above the Kijun-sen (blue) since late November. This positive alignment is bullish. The index is also currently trading above the cloud, another short to medium-term sign of upside potential. At the time of writing the index is at 11573.50; roughly the level of [..]

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Technical Analysis – Gold climbs above 1200, marking a 7-week high

Posted on January 12, 2017 at 12:53 pm GMT

Gold managed to surpass the 1200 psychological level during today’s trading session after testing it several times since mid-November but failing to cross above it.  The price at the time of writing, at 1205, marks a 7-week high for the precious metal. Today’s upside movement has allowed gold to rise above the 50-day moving average (MA), a bullish near-term signal, and should the daily close be indeed higher than yesterday’s it will mark the fourth straight day of gains.  The [..]

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Technical Analysis – AUDJPY in overall uptrend, eyes December’s 11-month high

Posted on January 12, 2017 at 8:57 am GMT

AUDJPY has been posting some daily losses (including in today’s trading session so far) but it’s been in an uptrend since virtually the beginning of the second half of 2016. Prices for the pair are currently above both the 50-day moving average (MA) and the 200-day one, while a bullish cross was recorded as well (start of December) with the 50-day MA crossing above the 200-day one. Both these facts are indicative of the positive sentiment that is currently in [..]

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