NZDUSD appears to be strengthening after finding a footing on the 40-period simple moving average (SMA), which may enhance the very short-term neutral-to-bullish picture. Although the positive momentum in the MACD and the Ichimoku lines has stalled, the rising SMAs, RSI and stochastic oscillator endorse further gains. The RSI is improving after bouncing on the 50 threshold, while the %K line has completed a bullish crossover out of oversold territory, promoting advances. If buying interest intensifies, early resistance may develop [..]
The US 30 cash index has been on the sidelines over the last month as the 26,410 resistance level seems to be a real struggle for the bulls. Technically, the price could lose some ground in the short-term as the MACD is changing direction to the downside below the zero line, while the RSI is holding beneath the neutral threshold of 50 but is pointing up. A rebound on the 25,560 support and a rise above the simple moving averages (SMAs) could [..]
USDCAD is currently tackling the downtrend line drawn from the 50-month high of 1.4667 achieved on March 19, aligned with the falling 40-day simple moving average (SMA). Further hindrance is arising from the overlapping 1.3633 level, that being the 23.6% Fibonacci retracement of the down leg from 1.4667 to 1.3314. The bulls seem to have backing from the oscillators that reflect improving positive momentum in the near-term. The MACD, in the negative region, holds above its red trigger line near [..]
GBPUSD has been in an ascending move after the rebound on the 1.2250 trough, touching a new three-month high of 1.2670. The price is currently testing the 20-day simple moving average (SMA), while the RSI indicator is pointing slightly down near the 50 level. Also, the MACD is losing momentum beneath its trigger line but it still hovering above the zero line. An extension of the downside movement could hit the 50.0% Fibonacci retracement level of the up leg from [..]
USDCAD is currently tackling the downtrend line drawn from the 50-month high of 1.4667 achieved on March 19, aligned with the falling 50-day simple moving average (SMA). Further hindrance is arising from the overlapping 1.3633 level, that being the 23.6% Fibonacci retracement of the down leg from 1.4667 to 1.3314. The bulls seem to have backing from the oscillators that reflect improving positive momentum in the near-term. The MACD, in the negative region, holds above its red trigger line near [..]
GBPJPY managed to unlock a three-week high at 135.90 on Thursday, but gains were soon reversed, creating a bearish shooting star candlestick instead – a negative signal that a downside correction may be on the way. With the 50% Fibonacci of the 147.94-124.00 strongly rejecting upside movements at the same point and the Stochastics sloping downwards after peaking above their 80 oversold mark, weakness could persist in the short-term. However, not far below, the ascending trendline that has been supporting the market since the [..]
NZDJPY pushed back above the 200-day simple moving average (SMA) after finding footing at the 68.15 level, that being the 61.8% Fibonacci retracement of the down leg from 73.52 to 59.45. Assisting the move is the rising 50-day SMA and its recent bullish crossover of the 100-day SMA. Additionally, the short-term oscillators paint an improving picture though do not rule out some consolidating in the near-term. The MACD, in the positive section, is increasing above its red signal line, while [..]
NZDJPY pushed back up after finding footing at the 68.15 level, that being the 61.8% Fibonacci retracement of the down leg from 73.52 to 59.45, and the 200-day simple moving average (SMA). Assisting the move is the rising 50-day SMA and its recent bullish crossover of the 100-day SMA. Additionally, the short-term oscillators paint an improving picture though do not rule out some consolidating in the near-term. The MACD, in the positive section, is increasing above its red signal line, [..]
The US 100 cash index recorded a new all-time high of 10,727.95 earlier today, continuing the steep increase from the 14-month trough of 6,635. The golden cross within the 50- and the 200-day simple moving averages (SMAs) remains intact and the RSI indicator is heading higher marginally above the 70 level. However, the stochastic oscillator is looking overbought and is flattening, suggesting a downside correction in the short-term. A significant rally above the all-time high could see the index to [..]
WTI oil futures’ positive drive loses fuel as it creeps sideways below the 41.60 resistance. The slowing in the ascent is also reflected in the Ichimoku lines as their positive bearing begins to flatten out. The short-term oscillators are grasping onto hopes that the positive picture may resume shortly. The MACD, in the positive region, holds just below its red trigger line, while the RSI is floating below the 70 mark. In the stochastic oscillator, the %K and %D lines [..]
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