Technical Analysis

post-image

Technical Analysis – NZDCHF moves sideways after falling to nearly 4-year lows

Posted on August 23, 2019 at 1:50 pm GMT

NZDCHF bulls denied further downside momentum on August 13 pushing the price back up to 0.6313, which is the 23.6% Fibonacci retracement level of the down wave from 0.6670 to 0.6200, and into a short-term trading range. The 20- and 40-period simple moving averages (SMAs) give no clear direction on the four-hour chart, whilst the 100-period SMA reflects the bigger bearish picture. Directional momentum has evaporated, with the MACD only slightly above its red trigger line and just below the [..]

post-image

Technical Analysis – GBPJPY breaches upwards the 100-SMA, eyes 200-SMA

Posted on August 23, 2019 at 8:40 am GMT

GBPJPY turned higher at a thirty-three-month low of 126.53 on August 12, of a three-month descending channel plotting higher highs and lows. Currently at the 130.00 level, the bears are trying for a push lower as reflected by the momentum indicators. The RSI has deflected off the overbought level and is headed south, whilst the MACD has started to flatten above its red trigger line in the positive territory, both suggesting some weakening in positive momentum. In spite of this, [..]

post-image

Technical Analysis – USDCAD neutral below 1.3340 strong resistance

Posted on August 23, 2019 at 7:39 am GMT

USDCAD was unable to break the 1.3340 resistance for the third consecutive week but it managed to hold in an upward move and above an ascending trendline. Technically, the pair could maintain its neutral mood in the short-term as the RSI fluctuates sideways in the bullish area and the MACD stabilizes around its red signal line. The Ichimoku indicators (Tenkan-sen, Kijun-sen) are also flat, endorsing the lack of direction in the market price. A decisive close above the 1.3340 ceiling could bring the [..]

post-image

Technical Analysis – JP225 index unable to push through the 100-SMA

Posted on August 22, 2019 at 3:05 pm GMT

Japans’ 225 stock index experienced a one-week rally from a low of 20,097 past the 50-period simple moving average (SMA), to then hit a wall at the 100-period SMA. The 50- and 100-period SMAs have begun to converge and momentum has started to evaporate. The indicators, although in positive territory, reflect a decreasing positive directional momentum as the MACD has dropped below the red trigger line near the zero line, whilst the RSI is declining to try and breach the [..]

post-image

Technical Analysis – NZDJPY adopts sideways structure after 2-week drop

Posted on August 22, 2019 at 12:39 pm GMT

NZDJPY came shy of filling the gap of 73.45 – 73.60 and then dropped to a low of 67.54, before moving into a short-term trading range on the four-hour chart. The bulls have found the 50-period simple moving average (SMA) to be a worthy adversary, denying them a move above. The momentum indicators although in negative regions, reflect an absence of directional momentum. The MACD is below its red trigger line and only slightly underneath the zero mark, while the [..]

post-image

Technical Analysis – AUDNZD bullish in third week of rise

Posted on August 22, 2019 at 10:07 am GMT

AUDNZD is ready to complete its third week of gains, having strongly rebounded from an eight-month low of 1.0261 early this month and breached its simple moving averages (SMA). Encouragingly, the pair also managed to close on top of the Ichimoku cloud on Wednesday, while in momentum indicators, the rising MACD and RSI are embracing a positive bias for the short-term. The latter, however, is nearing its 70 overbought level, signalling that room for further improvement may be limited. The 78.6% Fibonacci of 1.0629 of the [..]

post-image

Technical Analysis – NZDUSD revisits 42-month low; buyers and sellers disagree

Posted on August 22, 2019 at 9:51 am GMT

NZDUSD continued the trickle downwards to retest the forty-two month low of 0.6376, after failing to overcome the past inside swing resistance of 0.6487 from June 14. The bulls came on board and pushed the pair back above the 0.6376 level, something also reflected in the RSI, which shows negative momentum decreasing. Despite the RSI’s view, the MACD has declined below its red trigger line suggesting the negative outlook could return. Furthermore, the 50-, 100- and 200-period simple moving averages [..]

post-image

Technical Analysis – USDJPY bulls likely waiting above 107.00; short-term bias looks neutral

Posted on August 22, 2019 at 7:13 am GMT

USDJPY has been in a quiet and narrow trade this week, moving sideways within the 106.00 area but below its downward-sloping simple moving averages (SMA) and the Ichimoku cloud – a negative trend signal. In momentum indicators, the red Tenkan-sen continues to flatten below the blue Kijun-sen, while the RSI has also somewhat stabilized after strongly rebounding from the oversold territory, both suggesting a neutral-to-bearish bias for the short-term. The MACD, however, keeps improving in the negative area, increasing hopes [..]

post-image

Technical Analysis – GBPNOK still neutral in medium-term, despite recovery

Posted on August 21, 2019 at 3:26 pm GMT

GBPNOK’s bulls aggressively came on board, after the price fell to a new multi month low of 10.54 on July 30. They pushed the price above previous lows and into the Ichimoku cloud, before losing steam just below the 100-day simple moving average (SMA). The momentum indicators although in the positive territory, still concur with the 50- and 100-day SMAs bearish picture, with the MACD decreasing above its red trigger line and the RSI nearing the 50-level. If the bears [..]

post-image

Technical Analysis – AUDUSD stuck in a sideways channel; bullish signals weak

Posted on August 21, 2019 at 1:36 pm GMT

AUDUSD  continues to trade softly within a sideways channel for the third consecutive week with an upper boundary at 0.6820 and a lower boundary at 0.6745. The MACD in the four-hour chart has gained some strength above its red signal line, endorsing the current upside movement in the price, though the indicator is still close to zero, while the red Tenkan-sen remains flat around the blue Kijun-sen, both giving little hopes for a meaningful rally. The bulls need a decisive close [..]

We are using cookies to give you the best experience on our website. Read more or change your cookie settings.

Risk Warning: Your capital is at risk. Leveraged products may not be suitable for everyone. Please consider our Risk Disclosure.