Chart Of The Day: Overbought RSI, 100-day SMA question EURUSD recovery before Fedspeak

Fri, 18 Oct 2019 13:29


In addition to its failure of rising past-100-day SMA, overbought RSI also exerts downside pressure on the EURUSD pair ahead of the final round of Fedspeak, up for late-Friday. While recent signals from the Fed have been mixed, the US fundamentals aren't in favor of any hawkish signals, which in-turn...

​Chart Of The Day: 200-bar EMA directs NZDUSD towards sub-0.6200 area

Thu, 17 Oct 2019 13:23


With the US-China trade tension keeping a tab on commodity-linked currencies, NZDUSD remains compressed below 200-bar EMA. As a result, sellers will keep an eye over the monthly bottom nearing 0.6200 while considering 0.6240 as an intermediate stop. If bears keep dominating market sentiment under 0.6200, 61.8% Fibonacci Expansion (FE)...

​Chart Of The Day: Overbought RSI, Brexit doubts drag GBPUSD from key resistance area

Wed, 16 Oct 2019 13:46


GBPUSD is still far from bullish as a daily closing beyond 1.2770/85 becomes necessary for it to challenge the 61.8% Fibonacci retracement near 1.2835. Should the UK-EU officials agree over the Brexit, which also gets supported by the DUP and Irish lawmakers, prices may rise past-1.2835 towards 1.2900 and March...

​Chart Of The Day: USDJPY struggles inside 200-day EMA and resistance-turned-support

Tue, 15 Oct 2019 13:24


USDJPY's bounce off multi-month-old resistance-turned-support fails to clear 200-EMA, which in-turn portrays a lack of momentum between 107.90 and 108.75 levels. However, present risk-off mood in the market favors the pair's declines to monthly bottom surrounding 106.50 on the clear break below 107.90. Though, 107.00 round-figure could offer an intermediate...

​Chart Of The Day: 50-day EMA, 3-month-old resistance-line question AUDUSD buyers

Mon, 14 Oct 2019 13:09


Failure to rise past-50-day EMA and a short-term falling trend-line seem to drag the AUDUSD pair towards 0.6765/60 multiple support-zone, a break of which will open the door for the pair's additional downturn to 0.6700 and 0.6670. However, pair's further weakness below 0.6670 might not refrain from visiting 0.6600 round-figure....