Technical Analysis

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Technical Analysis – USDJPY’s steam dries up at 100-SMA

Posted on September 12, 2019 at 9:37 am GMT

USDJPY rallied through the 21- and 42-day simple moving averages (SMAs), as well as the 107.50 resistance, which is the 38.2% Fibonacci retracement level of the down move from 112.39 to 104.45. The move up started on September 3, ending a three-week consolidation period and propelling the price up to the 100-day SMA. In an attempt to make more gains, the bulls are accompanied by signals of increasing positive momentum, as the MACD has distanced itself from its red trigger [..]

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Technical Analysis – GBPJPY looks to rally above Ichimoku cloud

Posted on September 12, 2019 at 7:33 am GMT

GBPJPY has successfully overcome the downward resistance line drawn from May’s peak of 146.49 and rallied above the 50-day simple moving average (SMA) to test the 133.00 mark and the upper surface of the Ichimoku cloud after four months. The positive momentum in the MACD and the RSI reflects a strong bullish bias for the short-term. Yet, overbought signals look to be appearing on the horizon as the price is flirting with the upper Bollinger band for almost a week and the distance between the RSI [..]

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Technical Analysis – NZDJPY overcomes 200-SMA; bullish crosses detected 

Posted on September 11, 2019 at 12:45 pm GMT

NZDJPY’s upside correction overcame the 200-period simple moving average (SMA) on September 9 following a rebound on the new formed base of 0.6670. Despite the MACD and the RSI moving in bullish territory, both indicators have slowed down recently, suggesting that the rally may take a breather in the short-term. The implied decreasing positive momentum in the price is drawing some caution as bullish crosses have occurred between the 21- and 200-period SMAs, as well as between the 50- and [..]

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Technical Analysis – AUDUSD fails to break multi-year lows; rallies to 50.0% Fibonacci

Posted on September 11, 2019 at 8:59 am GMT

AUDUSD has rallied above the 21- and 42-day simple moving averages (SMAs), up to the Ichimoku cloud, after the bears were unable to capitalize from the multi-year lows it re-tested earlier this month. Tackling 0.6880, which is the 50.0% Fibonacci retracement level of the down leg from 0.7081 to 0.6676, buyers are looking to take back more losses from the drop which started on July 19. The MACD has distanced itself from its red trigger line moving marginally into the [..]

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Technical Analysis – EURJPY in recovery mode but descending channel holds the “bull flag”  

Posted on September 11, 2019 at 7:28 am GMT

EURJPY is prolonging the rebound off the 2 ½-year low of 115.85 as the RSI and the MACD are signaling mounting buying interest, with the former surpassing its 50 neutral mark and the latter improving above its signal line. Questions however remain about whether the bullish forces are strong enough to violate the descending channel to the upside. Should the price close comfortably above the channel, piercing the lower surface of the Ichimoku cloud and resistance around 119.86 as well, the rally could [..]

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Technical Analysis – EURJPY on recovery mode but descending channel holds the “bull flag”  

Posted on September 11, 2019 at 7:22 am GMT

EURJPY is prolonging the rebound off the 2 ½-year low of 115.85 as the RSI and the MACD are signaling stronger buying interest, with the former surpassing its 50 neutral mark and the latter improving above its signal line. Questions however remain about whether the bullish forces are strong enough to violate the descending channel to the upside. Should the price close comfortably above the channel, piercing the lower surface of the Ichimoku cloud and resistance around 119.86 as well, the rally could extend towards [..]

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Technical Analysis – EURCAD logs a 2-year low, touching a weekly uptrend line

Posted on September 10, 2019 at 2:45 pm GMT

EURCAD descended over the last month from the peak of 1.4994, after failing to close above the 100-day simple moving average (SMA), with the bears eyeing the weekly uptrend line drawn from 1.2127 on the 12 of August 2012. They failed to penetrate below, only managing to produce a 2-year low of 1.4502 and reversed after finding support on the line. The MACD has distanced itself from its red trigger line in the negative zone, reflecting an increase in bearish [..]

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Technical Analysis – EURCHF’s buyers correct to the 23.6% Fibonacci level

Posted on September 10, 2019 at 12:50 pm GMT

EURCHF, after a four-month decline, had bulls emerge to propel the price upwards to the 1.0970 resistance looking for further gains. The level is the 23.6% Fibonacci retracement of the down move from 1.1475 to 1.0810, and where the 50-day simple moving average (SMA) currently lies. Failing to breach, the current stalling price at the 23.6% Fibo of 1.0970, coupled with the downward sloping SMAs, suggests that the rally higher may be off the table for now. Additionally, the MACD [..]

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Technical Analysis – Could Apple stock break out of asymmetrical triangle ahead of products launch?

Posted on September 10, 2019 at 10:18 am GMT

Apple stock is edging higher ahead of the anticipated unveiling of new products later on Tuesday, including an updated iPhone. The company’s share price is trading around the upper boundary of an asymmetrical triangle and although the RSI and the MACD both reflect a bullish bias, the Stochastics are ready to print a bearish cross above the 80 overbought mark, signaling that a downside correction could be around the corner. Should the bulls close comfortably above the 215.00 ceiling and hence [..]

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Technical Analysis – GBPUSD bulls trying to gain ground as 50-SMA breached

Posted on September 10, 2019 at 9:43 am GMT

GBPUSD met a roadblock at 1.2380 after a recent one-week drive up from a thirty-one-month low of 1.1957. The price climbed above the 50-day simple moving average (SMA) and the 1.2293 resistance, which is the 23.6% Fibonacci retracement level of the down move from 1.3381 to 1.1957. Dwindling positive momentum suggests that the price could adopt a short-term sideways approach as the MACD has risen slightly above zero into the positive territory, after distancing itself from its red trigger line, [..]

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