“The Fed’s decision could affect the movements of the currency and asset markets, so we must carefully observe the evolution of the situation“, stated on Thursday the deputy governor of the Bank of Japan (BOJ), Masayoshi Amamiya. Featured Comments We expect the Fed to rein in inflation and deliver stable growth in the US. This […]
Tag: SwingTrading
USD/CAD Price Analysis: Sellers attack weekly support around 1.2950
USD/CAD pulls back from monthly high and flirts with short-term support line. The RSI is overbought and the MACD is about to make a bearish cross, causing sellers to appear. The weekly uptrend line and horizontal support from early May limit immediate moves. Buyers have a tough road ahead of the yearly high set in […]
Sellers flirt with the 200 SMA to stay above the 0.8600 level
EUR / GBP retraces around the key SMA. A bearish Momentum indicator and a possible double top awaits confirmation from the bears. Despite staying near the two-week low, EUR / GBP bears remain cautious around the 0.8635 level at the start of the European session on Thursday. The cross makes a corrective pullback from the […]
Corrective pullback needs to break above the 1.2322 level
USD / CAD makes slight gains after breaking weekly downtrend line. An RSI in the positive zone encourages the bulls, but a clear rally above the immediate range is necessary. The bears can target the 2018 low as long as an upside breakout of 1.2385 is not achieved. USD / CAD is moving higher at […]
Flirt with the 0.8700 level within the weekly bearish channel
The EUR / GBP retraces within a bearish pattern and returns the initial gains of the Asian session. The seven-day support line and the 200-hour SMA offer support. The bulls will look for new entries above 0.8720. EUR / GBP is moving around the 0.8700 level at the start of the European session on Wednesday. […]
He licks his wounds around the 0.7750 level after Australia’s CPI
AUD / USD makes a corrective pullback as the short-term support line tests the bears. Sellers are hoping to confirm a double top pattern amid a bearish MACD. The bulls need to hit a new monthly high to regain control. The AUD / USD pair recovers some of the losses produced after the publication of […]
Key SMAs test bulls around 0.7150
NZD / USD pulls back after hitting three-week highs, remains positive intraday. The 50 and 100 day SMAs limit the immediate rally even as the MACD shows the strongest bullish signals in seven weeks. The high from the end of March adds to the bullish filters, while the bears need a break to the downside […]
Pattern on 1-hour chart directs sellers towards 200 SMA
AUD / USD returns initial gains after Australian CPI data and falls to new daily lows. The bearish candlestick pattern and bearish indicators suggest further consolidation from recent gains. AUD / USD has returned the initial gains made following the release of the Australian CPI data better than expected and has fallen to fresh daily […]
It falls back below the 21-day SMA and favors the bears
USD / CHF hovers around the intraday low after retracing from key short-term resistance earlier in the Asian session. The five-week horizontal support draws bears, while the confluence of the 50-day SMA and the downtrend line since November is the key resistance. USD / CHF is moving around 0.8850 ahead of Monday’s European session. The […]
It climbs above the week-long resistance line and 100-hour SMA amid risk appetite
AUD / USD extends the recovery from the one-month low. A downtrend line from October 9 is the immediate target for the bulls. The bears will look for a clear break below 0.7050 / 45 for new entries. Advances in the stimulus talks in the US favor the appetite for risk. The AUD / USD […]