AUDUSD earlier this week escaped from a more-than-a-decade low of 0.6661 to bounce back into the 0.6700 territory. While the RSI and the MACD on the four-hour chart have entered bullish territory, both indicators have yet to show strong momentum above their neutral levels, bolstering the case of a neutral to-positive session in the short-term.  Besides, for […]

NZDJPY yesterday hit a floor at the 70.00 mark, resulting in the pair’s second reversal around the 70.00 – 69.95 barrier (previous resistance-now-support levels), which held back in October and November of 2019. The improving short-term oscillators back the recent push up in the pair, which has already moved over the red Tenkan-sen line. The […]

NZDJPY yesterday hit a floor at the 70.00 mark, resulting in the pair’s second reversal around the 70.00 – 69.95 barrier (previous resistance-now-support levels), which held back in October and November of 2019. The improving short-term oscillators back the recent push up in the pair, which has already moved over the red Tenkan-sen line. The […]

China’s 50 stock index (CHI 50) has rebounded somewhat after falling to the eight-month low of 12,520 on February. Currently, the price struggles beneath the 200-day simple moving average (SMA), which overlaps with the area of the 23.6% Fibonacci retracement level of the up leg from 10,197-14,678 of 13,621 and the 13,570 barrier. The momentum […]

China’s 50 stock index (CHI 50) has rebounded somewhat after falling to the eight-month low of 12,520 on February. Currently, the price struggles beneath the 200-day simple moving average (SMA), which overlaps with the area of the 23.6% Fibonacci retracement level of the up leg from 10,197-14,678 of 13,621 and the 13,570 barrier. The momentum […]

AUDNZD has finally risen above the 1.0437 area that kept the bulls under control since early December, surpassing its shorter-term moving averages (SMAs) and expanding into the Ichimoku cloud as well. The strengthening RSI and the improving MACD suggest that positive sentiment could stretch into the short-term, with the spotlight turning now to the 200-day […]

AUDNZD has finally risen above the 1.0437 area that kept the bulls under control since early December, surpassing its shorter-term moving averages (SMAs) and expanding into the Ichimoku cloud as well. The strengthening RSI and the improving MACD suggest that positive sentiment could stretch into the short-term, with the spotlight turning now to the 200-day […]

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Alcoa stock is heading lower and seems to be exiting the squeezed Bollinger band channel and the ascending triangle formation, falling below the 19.48 support. The triangle had been holding since July 2017 when it started the sideline move. From a technical viewpoint, the MACD is losing momentum below its red signal line and the RSI is still hovering […]

Alcoa stock is heading lower and seems to be exiting the squeezed Bollinger band channel and the ascending triangle formation, falling below the 19.48 support. The triangle had been holding since July 2017 when it started the sideline move. From a technical viewpoint, the MACD is losing momentum below its red signal line and the RSI is still hovering […]

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WTI crude oil futures recorded a significant downfall over the past six days after they found strong resistance at the eight-month high of 65.60 last week. Currently, the price is flirting with the ascending trend line around the 57.70 support level, supposing a possible rebound on it or a breakdown. The negative slope in the […]

CADJPY is fading following attempts to close a session above the 84.34 resistance from April 2019. Despite the overwhelming positive sentiment – reflected in the upward slopes of the Ichimoku lines and the 20-, 50- and 100-day simple moving averages (SMAs) – the technical indicators suggest a slight weakening in the positive direction. Technically, the MACD, […]

US removes currency manipulator label from China ahead of signing of trade deal Yuan surges, yen slides as risk-on theme continues Wall Street hits another record as earnings season gets into full gear US-China tensions thaw further ahead of trade deal signing Relations between the United States and China got a boost on Monday after […]

AUDCHF started the year on the back foot, breaking to the downside the range it had been trading in recent months to briefly touch 0.6620, a level last seen in August. Even though the pair later rebounded, the price structure now consists of lower highs and lower lows, so the outlook seems cautiously negative. A […]

EURGBP is entering bullish territory as the price is deviating above its shorter-term moving averages (SMAs) at the same time the MACD is turning positive after 5 months. The RSI and the red Tenkan-sen line are resuming their positive momentum, backing this view as well. Before turning optimistic however,  the price should first clear the key 0.8600-0.8655 resistance area […]

GBPUSD has been negative from the beginning of the new year as the 1.3285 resistance seems to be a real struggle for the bulls. Technically, the price dropped beneath the 20- and 40-period simple moving averages (SMAs), challenging the Ichimoku cloud in the daily timeframe. The RSI is standing below its 50 neutral mark but is flattening, […]