Technical Analysis


Technical Analysis – EURTRY moves near all-time high; further upside movement is expected

Posted on March 22, 2018 at 1:48 pm GMT

EURTRY reached an all-time high near the 4.8700 handle on Tuesday as the price extended its bullish run after it jumped above the 4.7350 key level. The bullish picture in the medium-term has been holding since February 2017 and is further supported by the technical indicators. Short-term momentum indicators are also pointing to the bullish bias. The RSI indicator is sloping to the upside and is approaching the overbought zone while the MACD oscillator surpassed the trigger line but is moving with weak momentum. [..]


Technical Analysis – NZDUSD advances following the rebound on 0.7152; bullish correction on the way

Posted on March 22, 2018 at 10:08 am GMT

NZDUSD skyrocketed over the last couple of hours and jumped above the 0.7260 critical level which overlaps with the 38.2% Fibonacci retracement level of the downleg from 0.7435 to 0.7152, posting a one-week high. The rebound on the 0.7152 support barrier helped the price to create a strong bullish day surpassing the 20 and 40 simple moving averages (SMAs) in the 4-hour chart. Having a look at the momentum indicators, the RSI and the MACD seem to be in agreement with [..]


Technical Analysis – USDJPY stands around 2-week low; bearish in short- and medium-term 

Posted on March 22, 2018 at 7:42 am GMT

USDJPY fell as low as 105.57 during today’s Asian session and reached a two-week low. Over the last three weeks, the pair is posting neutral sessions as it failed several times to jump above the 107.30 key resistance level but managed to hold above the 16-month low of 105.23. Price action is at the moment taking place not far above this low. From the technical point of view, in the daily timeframe, the price hit the lower Bollinger band and rebounded on it, [..]


Technical Analysis – Brent crude oil futures post 6-week high; bullish bias in short term

Posted on March 21, 2018 at 1:58 pm GMT

Brent crude oil futures reached a fresh six-week high of 68.28 during today’s European session and extended oil’s bullish run, which started from the 64.00 handle. Prices broke above the 67.90 key level and are trading well above their moving averages. The bullish picture in the short-term is further supported by the technical indicators. In the 4-hour chart, the indicators are pointing to a continuation of the bullish bias. The MACD oscillator is moving sharply higher above its trigger and zero lines, [..]


Technical Analysis – UK 100 index hits 6-week low, eyes 7,000 handle; medium-term outlook looks bearish

Posted on March 21, 2018 at 1:36 pm GMT

The UK 100 index has fallen by 4.3% after recording a one-and-a-half-month high of 7,341.00 on February 26; if the all-time high of 7,806.05 is used as a reference point, then the loss amounts to a whopping 10.0%. Earlier on Wednesday, the index hit a six-week low of 7014.10, while it is currently trading not far above this trough. The short-term bias is looking bearish as indicated by the negatively aligned Tenkan- and Kijun-sen lines. Support for the index could [..]


Technical Analysis – EURJPY still consolidating; 130.35 acts as strong support area

Posted on March 21, 2018 at 9:46 am GMT

EURJPY has been moving within a consolidation area since February 22 with upper boundary the 132.20 resistance level and lower boundary the 129.60 support level. It is worth mentioning that the price came under strong pressure following the bounce off the 131.70 barrier on Tuesday’s session and hit the 135.35 support level. Looking at momentum indicators, in the 4-hour chart, the Relative Strength Index (RSI) is lacking direction below the neutral threshold of 50, suggesting that the market could keep [..]


Technical Analysis – AUDUSD in strong sell-off; ascending trend line eyed as next level

Posted on March 21, 2018 at 7:34 am GMT

AUDUSD recorded relative strong bearish sessions in the previous week before the pull-back on the 0.7920 resistance level. The price plunged below the 0.7715 key level and posted a fresh three-month low of 0.7677. The bearish structure in the short-term remains intact, however, stochastics signal for a bullish correction. In the daily timeframe, the MACD indicator is well below the zero and trigger lines and is falling, while the stochastic oscillator is creating a bullish crossover within the %K and [..]


Technical Analysis – German DAX 30 struggles below 12480; death cross within 50 and 200 SMAs created

Posted on March 20, 2018 at 2:25 pm GMT

German DAX 30 has been moving below the 12480 strong resistance level after the strong sell-off at the end of the previous month. The critical death cross between the 50 and 200 medium-term simple moving averages (SMAs) indicating significant selling interest. Looking at the daily timeframe, the RSI indicator holds below the 50 level and is flattening. However, the stochastic oscillator posted a downward crossover within the %K and %D while is approaching the 20 level. Further losses should see the [..]


Technical Analysis – WTI crude futures trade around 2-week high; bullish bias but possibility of overstretched rally

Posted on March 20, 2018 at 10:26 am GMT

WTI crude oil futures have reversed back up again after finding support at the 38.2% Fibonacci retracement level of 61.41 of the downleg from 66.60 to 58.15 and reached a two-week high of 62.82 today. Prices successfully broke above the 50.0% Fibonacci and are trading above their moving averages in the 4-hour chart. The bullish picture in the short-term is supported by the MACD, however, the stochastic oscillator is signaling a possible bearish correction. The MACD oscillator is rising in the positive zone above its trigger line, while the [..]


Technical Analysis – GBPUSD edges higher; creates 1-month high below 1.4100

Posted on March 20, 2018 at 7:44 am GMT

GBPUSD has advanced considerably during yesterday’s trading session, hitting a new one-month high of 1.4087. Over the last few days, the price climbed above the short-term descending trend line from the high on January 25, suggesting more upside bias. The technical picture also supports that the bullish move is likely to continue in the short-term. It is worth mentioning that the pair has been trading within a strong ascending movement since March 2017 and tested the diagonal line several times [..]

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