forex

Technical Analysis – NZDUSD stalls near familiar resistance area

Posted on November 20, 2019 at 8:28 am GMT

NZDUSD pulled below the familiar resistance level of 0.6435 but held within the 0.6400 area, with the momentum indicators pointing to a neutral short-term session as the RSI is heading towards its 50 mark and the MACD seems to be losing steam above its red signal line. A closing price under 0.6400, where the 20-day MA hovers at the moment, could pressure the price down to the 38.2% Fibonacci of 0.6378 of the upleg from 0.6239 to 0.6464. Beneath that, [..]

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Technical Analysis – CADJPY captured in a downward channel, stalls at 200-day MA

Posted on November 19, 2019 at 3:09 pm GMT

CADJPY, although in a downward channel, looks undecided resting on the 200-day simple moving average (SMA). Directional momentum has disappeared as reflected in the short-term oscillators with the MACD and RSI flat at their neutral marks. Further backing this picture and implying that the pair may adopt a short-term side move are the SMAs, which are converging, with the 50-day SMA already starting to turn flat like the 100- and 200-day SMAs, while the 20-day SMA heads lower towards them. [..]

Technical Analysis – GBPUSD’s consolidation shows signs for a retest of recent high

Posted on November 19, 2019 at 9:46 am GMT

GBPUSD’s positive sentiment seems to be unbroken as the pair holds above the 200-day simple moving average (SMA), eyeing the fresh peak of 1.3011. The price bounced off previous peaks (now-turned-support) from June, repowering the positive signals of the MAs and the momentum indicators. The short-term oscillators suggest that positive momentum is improving. The MACD is still in the positive zone but below its red trigger line, looking to move back above it, while the RSI has risen close to [..]

Technical Analysis – EURCHF may extend positive momentum in short-term

Posted on November 19, 2019 at 8:04 am GMT

EURCHF staged a spectacular rebound last week to surpass its shorter-term simple moving averages (SMAs) and enter the Ichimoku cloud in the four-hour chart. Buyers seem to have the upper hand as the MACD keeps extending positive momentum, the RSI is comfortably above its 50 neutral mark, and the triple exponential average (TRIX) is preparing to turn positive, all flagging positive prospects in the short-term. A decisive close above the cloud would convince traders that more gains may follow, especially [..]

Technical Analysis – EURUSD looks bearish despite recent bounce off 23.6% Fibonacci

Posted on November 18, 2019 at 10:01 am GMT

EURUSD is trying to push over the upper boundary of the Ichimoku cloud at 1.1063 after the drop on November 4 bounced off the 1.1005 support, which is the 23.6% Fibonacci retracement of the down leg from 1.1411 to 1.0878. However, the bearish crossover by the downward sloping Tenkan-sen line leans toward a down move, while the turn back down in the 20-day simple moving average (SMA) reinforces the bigger negative picture. The short-term oscillators are still in the negative [..]

Technical Analysis – GBPJPY sustains a neutral stance lasting nearly a month

Posted on November 15, 2019 at 9:53 am GMT

GBPJPY is currently below the 50-, 100- and 20-period simple moving averages (SMAs), having been bound within a trading range of 141.47 to 138.85 for almost a month. It is evident that directional momentum has evaporated, something also supported by the above mentioned SMAs which have joined and mostly adopted a horizontal bearing. The technical indicators are showing mostly a position of neutrality as they are trading around their neutral marks. Currently the MACD is in the negative zone, slightly [..]

Technical Analysis – USDCAD looks to rebound near ascending trendline

Posted on November 15, 2019 at 8:38 am GMT

USDCAD is testing the upward-sloping trendline drawn from the 3-month low of 1.3041 in the four-hour chart following Thursday’s pullback from the 1.3269 high. According to the fast Stochastics the odds for a rebound are increasing as the indicator is preparing to post a bullish cross below its 20 oversold mark. The RSI, however, is still around its 50 neutral mark and the red Tenkan-sen and Blue Kijun-sen lines look to be converging on the downside, signaling that any market action [..]

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Technical Analysis – AUDJPY sellers deflect price off 200-day MA; attempt to boost bearish bias

Posted on November 14, 2019 at 5:16 pm GMT

AUDJPY is trying to push below the 100- and 40-day simple moving averages (SMAs) presently at 73.67. The bears reversed the pair back down at the 200-day SMA and forced a closure below the 75.32 resistance, which is the 50.0% Fibonacci retracement of the down leg from 80.70 to 69.94. The short-term oscillators imply that bearish momentum is increasing. The downward-sloping RSI has declined into the bearish region. Moreover, the MACD in the positive zone, has dropped below its red [..]

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Technical Analysis – EURCHF returns to bearish mode; eyes multi-year low

Posted on November 14, 2019 at 3:22 pm GMT

EURCHF sellers continue to drive the pair down, pushing it back towards multi-year low levels. During October, buyers’ efforts were unsuccessful in breaching the capping 1.1064 resistance level, which is the 38.2% Fibonacci retracement of the down leg from 1.1475 to 1.0810, with the price eventually piercing below the simple moving averages (SMAs) and Ichimoku cloud. The technical indicators reflect increasing negative momentum. The MACD has distanced itself below its red trigger line, while the RSI is at the 30-level, [..]

Technical Analysis – AUDUSD held below downtrend line; lower Bollinger band tests sellers

Posted on November 14, 2019 at 11:05 am GMT

AUDUSD is in the process of pushing past the 0.6810 level, an area where the swing low, 50-day simple moving average (SMA) and lower-Bollinger band are presently located. The pair’s latest drop to the lower band comes after unsuccessful efforts to breach a fortified region around 0.6925 to 0.6936, which encompasses various resistance obstacles. The short-term oscillators suggest strengthening negative momentum and are reinforced by the medium-term downtrend line and the declining 40-, 100- and 200-day SMAs. The MACD, in [..]

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