Technical Analysis – EURJPY eases below 3-week high in short term

Posted on June 12, 2019 at 9:17 am GMT

EURJPY had a bearish start on Wednesday, approaching the mid-level of the Bollinger Band (20-simple moving average) in the 4-hour chart, after the pullback on the three-week high of 123.15. The RSI and the MACD are suggesting a possible overstretched market as both are returning lower. The MACD is heading below the trigger line in the positive territory, while the RSI is pointing down below 70 level. In case the pair continues its short-term direction to the downside, the bears will probably challenge the [..]

Technical Analysis – EURJPY struggles below 40-SMA after pullback on 5-month low

Posted on June 5, 2019 at 6:37 am GMT

EURJPY had a bullish start on Monday, after the strong rebound on the five-month low of 120.77, with the price breaking a crucial level of 121.00 and the 20-period simple moving average (SMA) in the 4-hour chart. The pair is approaching its negatively sloped 40-SMA, which is acting as a key resistance level. The RSI and the stochastic oscillator are suggesting a possible overstretched market as both are returning slightly lower. The stochastic posted a bearish crossover within the %K [..]

European Open Preview – Dollar roars higher; Wall Street stabilizes, for now

Posted on May 30, 2019 at 7:43 am GMT

Dollar remains king as major peers continue to lack appeal Stocks calm down after drop, but perhaps only temporarily BoC stands pat, loonie drops as officials keep a lid on optimism Dollar reigns over FX market, nears 2-year highs The world’s reserve currency remains the undisputed king of the FX market, as investors continue to favor dollar-denominated assets amidst worries that the conflict between Washington and Beijing is slowly morphing into a new cold war. The greenback outperformed even the [..]

Technical Analysis – EURJPY plunges to fresh 4-month lows

Posted on May 29, 2019 at 8:28 am GMT

EURJPY plummeted to a new four-month low of 121.80 earlier today, continuing the selling interest from the 123.75 resistance zone. The pair also dropped beneath the 20- and 40-simple moving averages (SMAs), which recently posted a bearish cross, while the stochastic oscillator slipped into the oversold area. Moreover, the RSI is ready to cross below the 30 level in the 4-hour chart. Another move to the downside below the intraday low could drive the pair towards the 120.60 support level, identified by the [..]

European Open Preview – Stocks slip as trade worries intensify; BoC decides

Posted on May 29, 2019 at 7:59 am GMT

Equities drop, safe havens soar as trade outlook darkens Bank of Canada meets today – may be a touch more optimistic Aussie resilient despite trade woes & RBA rate cut bets Trade woes return to haunt stocks; yen & dollar cruise higher Risk appetite turned sour again on Tuesday, as British and American traders returned to their desks after a long weekend and were met by more worrisome trade news. Recent reports citing Chinese officials suggest the real reason the [..]

European Open Preview – Dollar retreats as rate-cut bets grow; yen soars

Posted on May 24, 2019 at 8:01 am GMT

Wall Street tumbles, yen soars on growth and trade concerns Dollar pulls back on mounting expectations for Fed easing Sterling catches its breath as May prepares to set departure date Risk sentiment takes a hit as soft PMIs revive growth worries Risk aversion dominated markets on Thursday, as alarming PMI data from major economies coupled with deepening US-China trade tensions amplified concerns around global growth. Preliminary Markit PMIs from both the US and Europe disappointed, highlighting that trade worries are [..]

European Open Preview – Sterling suffers as knives come out for Theresa May

Posted on May 23, 2019 at 8:11 am GMT

Sterling hammered on expectations PM May could resign soon German PMIs disappoint – euro may stay under pressure Risk aversion deepens as markets fear ‘new cold war’ Fed minutes reaffirm neutral stance, dollar advances No reprieve for sterling as May fights for political survival The British pound continues to be hammered by political uncertainty, with the leader of the House of Commons – Andrea Leadsom – resigning from the cabinet yesterday in protest to the government’s Brexit approach. The move [..]

Technical Analysis – EURJPY eases below 2-week low; loses ground in short term

Posted on May 22, 2019 at 8:15 am GMT

EURJPY reversed lower after meeting a two-week high around 123.70 on Tuesday, flirting with the 23.6% Fibonacci retracement level of the downleg from 126.80 to 122.07, near 123.20. The technical picture supports that the slightly bearish move is likely to continue in the short-term. The RSI is stretching to the downside and the stochastic oscillator is edging lower in the 4-hour chart. Another move to the downside could find support at the short-term moving averages around 122.90. A violation of these lines could send [..]

European Open Preview – Pound unimpressed by Brexit plan; Fed minutes due

Posted on May 22, 2019 at 8:08 am GMT

Pound surrenders gains to trade lower after May unveils Brexit plan Fed minutes today may boost the dollar a little Stocks advance on Huawei relief, but risks still heightened Sterling not convinced by May’s ‘last Brexit push’ The British pound briefly spiked higher yesterday, before surrendering all its gains to trade even lower, after PM May laid out her modified Brexit deal. In an attempt to win over votes from opposition parties and pro-EU moderates, she proposed giving Parliament a [..]


Technical Analysis – EURJPY gains expected to reach downtrend line

Posted on May 16, 2019 at 1:24 pm GMT

EURJPY reversed higher after it tumbled towards a fresh four-month low of 122.07 this week. The technical picture supports that the slightly bullish correction is likely to continue in the short-term. The MACD is stretching to the upside above its trigger line and the stochastic oscillator is approaching the overbought zone in the 4-hour chart. Another move to the upside could find resistance at the 40-simple moving average (SMA) currently at 123.00 and the 123.10 resistance. Marginally higher, the 23.6% Fibonacci retracement level of [..]

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