Technical Analysis

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Technical Analysis – EURJPY in bearish short-term alignment

Posted on January 16, 2017 at 11:34 am GMT

EURJPY has been edging lower during today’s trading session. The price at the time of writing is at 120.964. Looking at the Ichimoku analysis, the Tenkan-sen line (red) has recently crossed below the Kijun-sen (blue). This alignment is a signal of negative short-term sentiment for the pair. Adding to evidence of a downside bias over the short-term is the RSI indicator which is at 43, below the 50 threshold that distinguishes negative from positive short-term sentiment. On the upside, the Tenkan-sen [..]

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Technical Analysis – EURUSD recording gains despite longer-term bearish trend

Posted on January 16, 2017 at 8:59 am GMT

EURUSD opened Monday lower from Friday’s close but it’s been posting some minor gains since the beginning of today’s trading session. The price at the time of writing was 1.0616. The RSI indicator is in bullish territory indicating positive short-term momentum. It has remained in this area during the three previous trading days as well; a period that the pair has been on the rise. It is of note though that RSI is currently at 55, not far above the [..]

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Technical Analysis – Germany 30 stock index recording gains, reaching 17-month high

Posted on January 13, 2017 at 9:16 am GMT

The Germany 30 stock index has eased off from the 17-month high reached on January 11, but it has been trading close to that level since. Looking at the Ichimoku analysis, the Tenkan-sen line (red) has been above the Kijun-sen (blue) since late November. This positive alignment is bullish. The index is also currently trading above the cloud, another short to medium-term sign of upside potential. At the time of writing the index is at 11573.50; roughly the level of [..]

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Technical Analysis – Gold climbs above 1200, marking a 7-week high

Posted on January 12, 2017 at 12:53 pm GMT

Gold managed to surpass the 1200 psychological level during today’s trading session after testing it several times since mid-November but failing to cross above it.  The price at the time of writing, at 1205, marks a 7-week high for the precious metal. Today’s upside movement has allowed gold to rise above the 50-day moving average (MA), a bullish near-term signal, and should the daily close be indeed higher than yesterday’s it will mark the fourth straight day of gains.  The [..]

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Technical Analysis – AUDJPY in overall uptrend, eyes December’s 11-month high

Posted on January 12, 2017 at 8:57 am GMT

AUDJPY has been posting some daily losses (including in today’s trading session so far) but it’s been in an uptrend since virtually the beginning of the second half of 2016. Prices for the pair are currently above both the 50-day moving average (MA) and the 200-day one, while a bullish cross was recorded as well (start of December) with the 50-day MA crossing above the 200-day one. Both these facts are indicative of the positive sentiment that is currently in [..]

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Technical Analysis – NZDUSD in consolidation mode; Bearish crossover recorded recently

Posted on January 11, 2017 at 9:37 am GMT

NZDUSD has been mostly moving within a narrow range over the last five trading days (between 0.6950 and 0.7050). This neutral tone is also projected by the RSI indicator which is currently at 50 and has remained in this 50 area throughout this period of consolidation. However, the bearish cross recently recorded with the 50-day moving average (MA) crossing below the 200-day one could indicate that we’re about to enter a period of downward movement for the pair. On the [..]

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Technical Analysis – GBPUSD in downtrend; 1.21 level comes into view

Posted on January 10, 2017 at 9:19 am GMT

GBPUSD has been under pressure for the third trading day in a row, sinking to more than 2-month lows. Prices are well below the 200-day moving average (MA), as well as below the 50-day one. This is indicative of the downward trend that is in place. Looking at the RSI indicator, it is in bearish territory well below 50, hinting to further declines in the near term. As regards the stochastics, the %K line has recently crossed below the slow [..]

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Technical Analysis – WTI oil futures maintains bullish bias on weakening positive momentum

Posted on January 9, 2017 at 9:39 am GMT

WTI oil futures have been posting some losses over the last couple of days following the sharp gains recorded recently. Despite that, the overall upward trend remains in place with prices currently above both the 50-day moving average (MA) and the 200-day average. On the upside, the December 22 high of 55.39 (which was a near 18-month peak) is expected to serve as a resistance level. A break above that level could pave the way for further gains. On the [..]

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Technical Analysis – Gold rallying in effort to exit bearish trend

Posted on January 5, 2017 at 11:19 am GMT

After the sell-off being recorded in gold since early November, the precious metal has been posting some gains over the last few number of days in an effort to break out of the negative market structure which was renewed on November 18 when the 50-day moving average (MA) crossed below the 200-day one forming a bearish cross. Indicative of the recent positive sentiment is the fact that the RSI indicator rose above the 50 level, entering bullish territory. At the [..]

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Technical Analysis – USDJPY corrects on 4-hourly chart, 115 handle key

Posted on January 5, 2017 at 9:33 am GMT

Dollar / yen has been mostly consolidating between 118.60 and 116 since hitting an 11-month high at 118.65 on December 15.  However, price action has been somewhat bearish today as this consolidation range appeared to be breaking down on the downside. Looking at the shorter-term 4-hourly chart, price is currently below the 50-period moving average but it is holding above the 200-period average at 115.13.  Below that is the near 1-month low of 114.74, so bulls should not worry as [..]

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