Technical Analysis – EURNZD hits levels not seen in 9-years before dropping back down

Posted on March 10, 2020 at 3:47 pm GMT

EURNZD’s fierce move yesterday stretched towards nearly a 9-year high of 1.8980 before sellers pulled the pair south to around 1.8016, which is a high from back in September of 2015 (previous resistance-now-support). The positive picture still looks intact with the upward sloping simple moving averages (SMAs) and a nearing bullish cross of the 100 and 200-day simple moving averages (SMAs) by the 50-day one. Additionally, the MACD is deep in the positive region and above its red trigger line, [..]


Technical analysis – GBPAUD posts bullish spike at 4-year high

Posted on March 10, 2020 at 11:27 am GMT

GBPAUD after the aggressive bullish action towards a four-year high of 2.0763, returned near its opening level on yesterday’s session below 2.0000. However, chances for a downside reversal are minimal, as the 20-day simple moving average (SMA) remains above the 40-day SMA for more than a month now. Additonal evidence comes from the MACD as it continues to strengthen to the upside and above its trigger line, supporting this view, while the RSI is flattening slightly below the 70 level. Should the [..]

Technical Analysis – EURJPY recovers losses but negative signals still present

Posted on March 10, 2020 at 8:58 am GMT

EURJPY’s latest rally from a six-month low of 116.11, which recouped all of yesterday’s aggressive drop, has been capped by the 50-period simple moving average (SMA), resulting in the price returning somewhat around the mid-Bollinger band, currently at 118.32. The technical oscillators also reflect a very short-term stall in the up move. The MACD, deep in the negative zone, has climbed above its red trigger line, while the RSI has stalled marginally above its neutral mark. That said, traders need [..]

Technical Analysis – GBPUSD retreats after climbing to 1.3200; still in bearish channel

Posted on March 10, 2020 at 7:44 am GMT

GBPUSD has been in a descending channel over the last three months as the 1.3200 handle seems to be a real struggle for the bulls. During yesterday’ session the pair posted an upside spike towards the upper boundary of the Ichimoku cloud and the channel but failed to exit the range. Technically, the price could lose some ground in the short-term as the RSI is changing direction to the downside and towards its 50 neutral mark, while the stochastics are warning over an overbought [..]


Technical Analysis – EURNOK retraces from new all-time high despite positive signals

Posted on March 9, 2020 at 4:07 pm GMT

EURNOK looks to have paused in the very short-term, after reversing from the fresh top of 10.9953. Despite the slight weakening in positive momentum reflected in the technical oscillators, positive signals are still evident within the upward sloping simple moving averages (SMAs). The MACD, although appearing to ease slightly, is in the positive area and is distanced above its red trigger line, while the RSI has weakened in the overbought region. To the downside, initial support could come from the [..]


Technical Analysis – USDCHF recoups today’s sell-off after downfall to almost 5-year low

Posted on March 9, 2020 at 1:55 pm GMT

USDCHF is recouping some of today’s losses after it plummeted to an almost five-year low of 0.9182. The price has turned its short-term bias from neutral to strongly negative after the downfall from the 0.9630 area. The RSI appears to be turning slightly to the upside in the oversold zone, however, the MACD is suggesting even more losses. The 23.6% Fibonacci retracement level of the downward movement from 1.0235 to 0.9182 at 0.9430 is the nearest resistance that could reject [..]

Technical Analysis – EURUSD rushes to 13-month peak; strongly bullish in short term

Posted on March 9, 2020 at 7:54 am GMT

EURUSD surged to a fresh 13-month peak near the 1.1500 handle earlier today, continuing the aggressive buying interest that started on the 34-month low of 1.0770 on February 20. The pair seems to be strongly bullish in the very short-term after it surpassed the 1.1450 barrier. However, the stochastic oscillator suggests an overbought market and a downside correction may be on cards. The MACD and the RSI are still moving higher in positive territories, signaling more gains. Also, the 20- [..]


Technical Analysis – GBPJPY bearish in short and medium-term; next support near 135.80

Posted on March 6, 2020 at 11:20 am GMT

GBPJPY is resuming negative momentum below the 200-day simple moving average (SMA) after some consolidation in the past few days that took the form of a bearish rectangle in a smaller timeframe (look at 4-hour chart). The next move in the price is likely to be down as the RSI is reversing south again and the MACD keeps deviating below its red signal line, though an upside correction cannot be ruled out as the former is entering oversold waters. The confirmed bearish cross [..]


Technical Analysis – EURAUD turns outlook to strongly bullish in long term

Posted on March 6, 2020 at 10:38 am GMT

EURAUD stretched its bullish rally to a ten-and-a-half-year high of 1.7127 in the last week before pulling lower. The MACD seems to be gaining momentum above its red signal line, the RSI is still hovering around its 70 overbought mark and the red Tenkan-sen is holding well above the flat blue Kijun-sen, all signaling a more positive trading in the short term. The market trend is likely to hold on the upside as long as the price holds far above its moving averages and the Ichimoku [..]

Technical Analysis – USDCHF may find some footing at 2-year lows; bearish in medium-term

Posted on March 6, 2020 at 8:25 am GMT

USDCHF fell aggressively on Thursday to two-year lows and near the 0.9430 crucial support region taken from the 2016-2017 period, approaching the 78.6% Fibonacci of the 0.9186-1.0234 upleg. Hence, since the RSI and the Stochastics are fluctuating well into the oversold area too, the odds for a rebound are increasing, shifting attention towards the 0.9575-0.9596 restrictive zone that includes the 61.8% Fibonacci. Higher, the bulls may retest the 0.9560 barrier before meeting the 50% Fibonacci of 0.9715, turning the bearish [..]

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