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USDJPY : Could be continuing further downwards towards 107.4

Over the past few weeks the USDJPY has been very bullish and has dropped to as low as 109. It seems to be consolidating for the time being and waiting for the RSI to regain some momentum and come back above the 50 mark.

The price is currently sitting in the lower half of the declining channel, however, this is a fairly weak channel as it has not been tested many times. Despite this, just by…

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GBPUSD: Trading Flat above the 1.403 mark

The GBPUSD has been trading fairly flat over the past few weeks after reaching fresh 7 year lows at 1.38. Despite the pairing being below the 200 EMA on the daily chart (Below), we believe the price will start to regain some of these losses made due to the weakening dollar.

The RSI is sitting in the neutral position at roughly 50 and the price is sitting between a declining support and…

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EURUSD : Rallying off the 200 EMA on the 4 hour chart

The EURUSD has been making steady gains over the past few month but has had an overall poor performance during April. The price is now around the 200 EMA on the 4 hour chart below and looks set to regain some of the losses made in previous weeks.

The EURUSD 4 hour chart above illustrates the start of a possible bullish continuation. With the price bouncing off the 200 EMA (Which is a common…

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USD Makes Gains ahead of FOMC as the Yen Follows suit The USD has started to claw back some of the loses made over the last few weeks.

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AUDUSD : Dropping off yearly highs and RSI dropping

The AUDUSD has had a fairly strong open to the year with it breaking to daily 200 EMA and currently sitting between a very strong support zone consisting of the 200 EMA and 2 support lines and a strong declining long-term resistance. The currency pair has seemed to hit a stalemate as to which direction it is moving.

The price recently has had a sharp drop with the RSI dropping off from the…

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#analysis #aud #audusd #usd

USDCAD : Carrying on the bearish trend below the 200 EMA

The USDCAd has been trading within a very narrow bearish channel throughout the majority of 2016. Price is now below the 200 EMA on both the daily and 4 hour charts, therefore we will only look for short entrances on this currency pair as the dominant trend is a bearish one.

As you can see the price is approaching the resistance line of the channel. Therefore an entrance into a short position…

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#analysis #cad #usd #usdcad

USDJPY : As expected price is approaching the 111 mark

The USDJPY has been trading between the swing low at 111 and the 23.6% Fibonacci retracement since early February. As expected the price dropped off the 200 EMA and is now currently sitting just above the 0% line at 111. The RSI is looking oversold as well, therefore this paring does not look likely to break the support any time soon.

For now, we are looking to enter long Due to the price being…

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EURUSD : Approaching the overbought position

The EURUSD has been trading very strong over the previous week and is now sitting at a yearly high at 1.143. However, the RSI is sitting in the overbought zone at 70. Therefore, bullish movement is not expected anytime soon. For now we will wait for the RSI to reduce gain some room for momentum.

The Price recently broke a fairly strong declining resistance line which was established back in…

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NZDUSD : Dropping off yearly highs of 0.697

The NZDUSD has been swing trading within a fairly narrow channel since the start of the year. Last wee the pairing managed to reach fresh yearly highs at 0.697. The price is now currently sitting on the 38.2% Fibonacci retracement and the RSI is comfortably in the middle around the 50 mark.

The currency pair has dropped over the last few 4 hour candlesticks and is now comfortably sitting on the…

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AUD/USD : RSI Divergence has formed possible drop.

The AUDUSD Recently broke a strong resistance a few weeks ago and is looking to approach a very long term resistance. However, an RSI divergence has recently formed causing doubt as to whether the price will be able to approach the declining resistance at 0.78.

The AUDUSD has formed an RSI divergence on the daily chart which implies that the price could possibly drop. if the price does drop it…

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USDCAD : Carrying on its bearish movement

The USDCAD has been in a solid bearish trend since the start of the year. It has been trading within a very narrow channel, which sits just below the 200 EMA.

From a long term point of view, the USDCAD is without doubt very bearish. However, the near term view of the currency pair shows the price sitting in the oversold position on the daily and 4 hour chart and the price is approaching the…

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#analysis #cad #usd #usdcad

USDJPY : Ranging between low of 111 and 23.6% Fib

The USDJPY has been range trading between the 200 EMA and the previous swing low at 111.00. Right now it recently dropped off the 200 EMA and looks to be heading towards the low at 111.

From a risk to reward point of view we cannot justify entering into a short position now as the movement has moved a considerable amount and if we set the stop loss just above the 200 EMA and the take profit at…

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GBP/USD : Sitting on a strong long term resistance.

The GBPUSD is currently sitting on a fairly strong resistance line which was set back in August, Similar to the EURUSD . However, the EURUSD broke the resistance, whereas the GBPUSD is currently consolidating around it. The RSI is not overbought and has some room for a move further ahead. This implies this recent bullish move was due to the weakening dollar and the GBP is the currency dragging…

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EURUSD : Broken a strong mid term resistance line.

The EURUSD has has a very bullish open after the Easter bank holiday. The price has strongly broken a declining resistance line which was established back in August 2015. Price now looks to be approaching a previous swing high set back in October.

The EURUSD broke a strong mid term resistance line and looks to carry on with its upwards trend. However, an entry now would be unjustified as the RSI…

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Video: Technical Analysis weekly overview 27/03/2016

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US GDP rises to 1.4% against expectations of 1.0%

The US GDP rose to 1.4% from a previous 1.0%. It was expected to remain unchanged. This spells good news for the US economy and the next monetary policy decision. An increase in GDP suggests that inflation is on the rise. An increase in inflation could signal an increase in benchmark interest rates.

The majority of currency pairings have been fairly inactive today due to the good Friday holiday…

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USDCAD : Price approaching 200 EMA but losing momentum

The USDCAD daily chart below shows the price bouncing off along term support which was established back in 2014. The price has sharply bounced off the support whilst the RSI was close to the oversold territory and has also sharply jumped up and is now sitting at the 48 mark.

The USDCAD looks to be setting up nicely for a long position, however, the price is still under the 200 EMA and is likely…

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#analysis #cad #usd #usdcad

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