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Technical Analysis – USDCHF slips to 15-month low; oversold signals strengthen

Posted on January 16, 2020 at 3:51 pm GMT

USDCHF having cracked below the 2019 trough in the last minute in December it ticked to 15-month low of 0.9612 on Friday. The bearish short-term bias remains intact but oversold signals are strengthening now as the RSI is testing the 30 level and the Stochastics are diving below 20, while the price itself is already close to the lower Bollinger band, all hinting that the negative action may be running out of steam. The middle Bollinger band currently at 0.9729 [..]

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Asian Session – Policy divergence boosts dollar and pound; uncertainty still lingers for euro

Posted on July 17, 2015 at 7:32 am GMT

The dollar rose to near 3-month highs on Thursday but slipped in today’s Asian session. Thursday’s lower-than-expected initial jobless claims raised expectations that a rate rise could come as early as September. The US currency has been rallying since Yellen’s testimony, which set the path for a rate rise at some point this year, dampening expectations by some analysts that a move would be delayed until early 2016. There were more hawkish tones coming from the Bank of England governor, [..]

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Asian Session: US dollar corrects after soft data; aussie falls on low commodity prices

Posted on April 2, 2015 at 6:52 am GMT

The US dollar was weak after some worse-than-expected data the previous day, which showed that the world’s largest economy may be undergoing a soft patch.  The Australian dollar was also weak. Weaker-than-expected ADP payrolls for March, which posted their smallest gain in more than a year, caused some concern that Friday’s nonfarm payrolls report could also disappoint.  This in turn – if backed by other data – could lead the Federal Reserve to hold off from raising rates for some [..]

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Technical Analysis – GBPUSD falls below bearish flag to resume downtrend

Posted on October 1, 2014 at 7:30 am GMT

There was a bearish flag chart formation on the daily GBPUSD. This continuation pattern is usually found in a downtrend. GBPUSD resumed the downtrend after breaking below the flag to fall to 1.6165 on Tuesday and currently at 1.6210. It has scope to target the September 9 low of 1.6058. The pair has retraced 78.6% of the rebound it made from the Sept 9 low to the September 19 high of 1.6523. A falling RSI in bearish territory signals further [..]

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Asian Session – US dollar broadly stronger as aussie, kiwi under fresh pressure

Posted on September 29, 2014 at 6:42 am GMT

The US dollar was making fresh highs at the start of this week’s trading, as euro / dollar fell to fresh 22-month lows of 1.2662, while dollar / yen showed its readiness to test the 110 yen level as it traded at 109.73.  This was a 6-year high for dollar / yen. The US dollar continued to benefit from strong economic statistics, such as Friday’s upwardly revised US 2nd quarter GDP numbers at 4.6%, which in turn have boosted expectations [..]

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