Friday, April 29, 2016

Technical analysis of USDCHF dated 29.04.2016

It seems that the only important news factors which may influence USDCHF are Switzerland’s KOF leading indicator data for April and Initial Jobless Claims number. This pair is acting neutral for now which is falling down the descendant channel and within the Andrews’ pitchfork. The support lies at 0.96130 with resistance at 0.96670 which both lines are below the weekly pivot point at 0.97210. All indicators are showing price decline such as MACD which is in negative territory; the RSI is below the 50 level and the ADX showing strong sellers than buyers. The EMA of 10 is crossing the EMA of 50 falling down which confirms the price rate reduction for the last recent days. Short positions are recommended with the target at 0.9580.

https://fxglory.com/technical-analysis-of-usdchf-dated-29-04-2016/

Technical analysis of USDJPY dated 29.04.2016

According to BOJ, Yen is growing since they did not change the interest rates. Plus, USDJPY is under the influence of Industrial Production for March and Retail Sale report. USDJPY started its downward trend since yesterday and can begin its reversal anytime soon around the support level of 106.63. The support rests at 106.900 with resistance at 108.150 which both lines are below the weekly pivot point at 110.470. All indicators are signaling price decline such as MACD which is in negative territory, the RSI is below the 50 level and Stochastic is confirming this price fall. The EMA of 10 has already passed the EMA of 50 creating a sharp fall on the chart. Short term downtrend is expected until the price reaches 106.63 after that a reversal is more probable.

https://fxglory.com/technical-analysis-of-usdjpy-dated-29-04-2016/

Technical analysis of EURUSD dated 29.04.2016

EURUSD is under the influence of some news factors such as: Italian Prelim CPI m/m, CPI Flash Estimate y/y, Spanish Flash GDP q/q, French Consumer Spending m/m, German Retail Sales m/m and Unemployment Rate for EUR and for USD, the US is going to release its economic data such as Employment Cost Index q/q, Personal Spending m/m, Personal Income m/m, and Core PCE Price Index m/m therefore this pair is going to be more active today. There is no clear pattern for now and this pair is moving in neutral zone. The support rests at 1.13510 with resistance at 1.14150 which both lines are above the weekly pivot point at 1.1279. The MACD indicator is in positive territory as the price is increasing. The RSI is above 50 level and the ADX is showing powerful buyers. The EMA of 10 is located above the EMA of 50 and 100. It is testing the previous highs and there might be a pullback falling along with the Andrews’ pitchfork after reaching the resistance. There is no confirmed signal for this pair at the moment but short term traders can open their long positions remembering that pullback is getting close paving the way for bears.

https://fxglory.com/technical-analysis-of-eurusd-dated-29-04-2016/

Technical analysis of GBPUSD dated 29.04.2016

GBPUSD for today is affected by Nationwide Housing Prices in the UK and the GDP report for April in the US. The support line is at 1.46120 with resistance at 1.46720 which both of them are above the weekly pivot point at 1.43270 showing the price growth in the last week. Moreover the EMA of 10 is above the EMA of 50 endorsing this growth. All indicators are showing buy signals as the price is above the Ichimokou Cloud and the Chinkou Span. The Tenkan-sen is showing horizontal movement and the Kijun-sen is showing an upward trend. The MACD indicator is in positive territory along with RSI above the 50 level both signaling a good opportunity for buyers. Besides, the ADX is indicating stronger buyers than sellers. The resistance level breakout will push the price in higher ranges. Buyers need to wait for the resistance level break out otherwise the pair may fall and bears may take the control of the chart.

https://fxglory.com/technical-analysis-of-gbpusd-dated-29-04-2016/


Thursday, April 28, 2016

Technical analysis of GBPUSD dated 28.04.2016

Pound is getting stronger due to the growth of the UK economy, UK Gross Domestic Product and the 10-year UK government bonds yield. Yesterday GBPUSD moved in bearish bias but today it gained momentum and pushed itself upward. The support is at 1.45100 with resistance at 1.46000 which both lines are above the weekly pivot point at 1.43270. All indicators are showing price growth for now. The MACD is in positive territory, the RSI is above 50 level and the stochastic is showing an upward trend. The price is above the Ichimoku Cloud and the Chinkou Span. The Tenkan sen is showing an upward trend while the Kijun sen is showing a horizontal trend. The resistance level breakout will be a good chance for buyers. However there might be a rebound from today’s growth and the price may fall and break the support level at 1.45100. There is no clear signal for today GBPUSD trade.

https://fxglory.com/technical-analysis-of-gbpusd-dated-28-04-2016/

Technical analysis of USDCAD dated 28.04.2016

While USDCAD is falling down the long term descendant channel there won’t be any economic news in Canada to influence this trend. The only effective news factor is the nation’s GDP data for February which will be released tomorrow. USDCAD will move in bearish bias creating lower highs and lower lows. Now the support resides at 1.25200 with resistance at 1.26110 which both lines are below the weekly pivot point at 1.27480. The MACD indicator is in negative territory showing the price decline and the RSI confirms this by being below the 50 level. Moreover the stochastic is showing downward trend as well. The EMA of 10 is falling along with the EMA of 50 which is located above it. The support level breakthrough is a good sign for sellers to trade in lower ranges.

https://fxglory.com/technical-analysis-of-usdcad-dated-28-04-2016/


Technical analysis of USDJPY dated 28.04.2016

USDJPY is under the influence of BOJ Outlook Report, BOJ Press Conference, Prelim Industrial Production m/m, Monetary Policy Statement, Housing Starts y/y and BOJ Core CPI y/y in Japan and in the US some economic data such as Advance GDP Price Index q/q, Advance GDP q/q and Natural Gas Storage therefore today this chart will be more volatile than before. Today USDJPY shocked traders by its sudden fall towards 108.00 but it seems that the recovery from 107.630 is almost completed. The support lies at 108.00 with resistance at 111.86 and the weekly pivot point is located in between at 110.47. The EMA of 10 had a sharp decline as well getting close to the EMA of 50. The MACD indicator is in positive territory showing the price growth but the RSI is below the 50 level suggesting the opposite. There are two scenarios for this pair at this moment, it may continue its downward trend falling down the descendant channel or may climb up the Andrews’ pitchfork. The support level breakthrough may push the price in lower ranges as far as this level is not broken the pair will move in bullish bias. Traders can wait for a better chart setup.

https://fxglory.com/technical-analysis-of-usdjpy-dated-28-04-2016/

Technical analysis of EURUSD dated 28.04.2016

Wednesday EURUSD moved in bullish bias and it seems that this pair is going to keep bulls at this chart because while EUR is getting stronger due to the government bonds yield differential decrease between the US and Germany, USD is weakening due to commodity prices. In long term picture, the pair is climbing up the ascendant channel along with the Andrews’ pitchfork pattern. The support rests at 1.12780 with resistance at 1.13720 which both lines are above the monthly pivot point at 1.12030. The indicators are all showing price growth for now. The MACD indicator is in neutral zone, the RSI is above 50 level and the ADX is showing strong buyers. The EMA of 10 is crossing the EMA of 50 and it is located above the pivot point and close to the lower line of Andrews’ pitchfork. The resistance level breakout is a good sing for buyers. However, in longer term trade, the pair may not even hit the resistance level and fall towards 1.1260. Traders need to wait for a better chart setup.

https://fxglory.com/technical-analysis-of-eurusd-dated-28-04-2016/

Wednesday, April 27, 2016

Technical analysis of GBPUSD dated 27.04.2016

It seems that bulls are taking the control of the GBPUSD chart due to negative USA macroeconomic data. Moreover the 10-y government bond yields reports of these two countries are getting closer to each other which strengthens GBP. The rising pattern will continue for today creating strong resistance at 1.4467 to prevent the pair from further growth. The pair is climbing the ascendant channel. The support rests at 1.45570 with resistance at 1.46050 which both lines are above the weekly pivot point at 1.43270. The EMA of 10 is located above the EMA of 50 which indicates stronger GBP in the recent days. The RSI is above the 50 level and the MACD indicator is in positive territory showing the price growth. The ADX is showing stronger buyers than sellers. Long positions are recommended with the target at 1.4760.

https://fxglory.com/technical-analysis-of-gbpusd-dated-27-04-2016/


Technical analysis of USDCAD dated 27.04.2016

Today there won’t be any economic news in Canada to affect USDCAD and this pair will be under the influence of global macroeconomic news. However, the US had a negative consumer confidence report in April. USDCAD is falling down the descendant channel creating lower highs and as the EMA of 10 is below the EMA of 50 it shows the pair is moving in lower ranges in the last recent days. The support lies at 1.25870 with resistance at 1.26290 which both lines are below the weekly pivot point at 1.27480. All indicators are showing price decline as the RSI is below the 50 level, the stochastic is showing downward trend and the MACD is in negative territory. As long as the pair is moving below the pivot point it will continue its bearish pattern. Sellers can enjoy the fall for today.

https://fxglory.com/technical-analysis-of-usdcad-dated-27-04-2016/

Technical analysis of USDJPY dated 27.04.2016

Today USDJPY is under the influence of Japan Industries Activity m/m report and the US economic news such as FOMC Statement, Pending Home Sales m/m, Federal Funds Rate and Crude Oil Inventories. It seems that USD is getting stronger than JPY. While USD is getting more support from oil condition, USDJPY is climbing the ascendant channel following the Andrew’s pitchfork direction. The support lies at 110.890 with resistance at 111.310 which both lines are above the weekly pivot point at 110.470. The MACD indicator is in positive territory showing the price growth and the RSI is above the 50 level. The EMA of 10 is above the EMA of 50 confirming the price movement in higher ranges. Long

https://fxglory.com/technical-analysis-of-usdjpy-dated-27-04-2016/

Tuesday, April 26, 2016

Technical analysis of USDCHF dated 26.04.2016

Today there won’t be any economic news in Switzerland to affect USDCHF but tomorrow the nation’s UBS consumption indicator data for March will be released to influence this pair. The support rests at 0.97390 with resistance at 0.97610 which both lines are above the weekly pivot point at 0.97210. The EMA of 10 is above the EMA of 50 indicating the price growth over the last recent days. The MACD indicator is in positive territory signaling the price development and the RSI is above the 50 level. Stochastic indicator is showing price growth as well. Long positions are recommended with the target at 0.98000.

https://fxglory.com/technical-analysis-of-usdchf-dated-26-04-2016/

Technical analysis of NZDUSD dated 26.04.2016

NZDUSD is moving within the long term ascendant channel in a choppy pattern but considering the short term chart, after hitting 0.70516, the pair has been falling down the descendant channel marked in purple. The support lies at 0.68580 with resistance at 0.68960 which both lines are below the weekly pivot point at 0.69130. The MACD indicator is in negative territory showing the price decline and the RSI is below the 50 level confirming the same scenario. Furthermore the EMA of 10 is moving below the EMA of 50 indicating the price action in lower ranges in the last recent days. As long as the pair is moving below the pivot point it will continue its bearish trend targeting 0.6790 otherwise, the resistance level breakout will push the pair towards higher ranges targeting 0.6935.

https://fxglory.com/technical-analysis-of-nzdusd-dated-26-04-2016/

Technical analysis of GBPJPY dated 26.04.2016

Today there is no economic data in Japan to affect GBPJPY but GBP has gained momentum after Obama’s speech. Despite the early fall this morning, GBPJPY is moving in bullish bias climbing the ascendant channel. The pair is finding support at 160.290 with resistance at 161.670 which both lines are above the weekly pivot point at 158.230. The EMA of 10 is located above the EMA of 50 suggesting the price growth over the last recent days. The MACD indicator is in positive territory showing the bullish trend continuation and the RSI is above the 50 level confirming this scenario as well. The ADX is also showing stronger buyers than sellers. Long positions are recommended with the target at 162.55

https://fxglory.com/technical-analysis-of-gbpjpy-dated-26-04-2016/

Technical analysis of GBPUSD dated 26.04.2016

GBPUSD is under the influence of Obama’s comments regarding the GBP and UK’s CBI industrial trends reports. GBPUSD touched 1.45220 yesterday and had a slight decline today morning. Creating the resistance in 1.45220 area, it seems that this pair is going to move within the ascendant channel for now. The pair is finding support at 1.44750 with resistance at 1.45220 which both lines are above the weekly pivot point at 1.43270. The MACD indicator is in positive territory showing the price growth and the EMA of 10 is located above the EMA of 50 which shows the bullish tendency of the chart over the last recent days. The RSI is above the 50 level and the ADX is showing stronger buyers. Long positions are recommended with the target at 1.4560.

https://fxglory.com/technical-analysis-of-gbpusd-dated-26-04-2016/


Monday, April 25, 2016

Technical analysis of GBPUSD dated 25.04.2016

GBPUSD is under the influence of oil dynamics at the moment. UK is not releasing any specific news factors and reports today. After reaching 1.40044 the pair has been moving with bullish bias. The EMA of 10 is above the EMA of 50 which shows the price growth over the last recent days. The support lies at 1.44110 with resistance at 1.44510 which both lines are above the weekly pivot point at 1.43270. There is a strong buy signal with the Ichimoku indicator. The price is above the Ichimoku Cloud and the Chinkou Span. The Tenkan-sen and the Kijun-sen are showing upward trend. According to the MACD indicator which is in positive territory, the price is increasing. The RSI is above 50 level confirming the same scenario. Long positions are recommended with the target at 1.4480.

https://fxglory.com/technical-analysis-of-gbpusd-dated-25-04-2016/

Technical analysis of USDCAD dated 25.04.2016

USDCAD is under the influence of Oil summit in Qatar, US unemployment rate and Manufacturing report in the US. The pair started today with bullish bias but there is a slight chance that it crosses the descendant channel’s roof. The support lies at 1.26670 with resistance at 1.27050 which both lines are below the weekly pivot point at 1.27480. The MACD indicator is still in negative territory showing the price falling tendency and the RSI is getting close to the 50 level. The Stochastic is in neutral zone for the moment. As shown in the indicators, there is no confirmed signal for traders to decide on their positions. It’s recommended to wait for a better chart pattern.

https://fxglory.com/technical-analysis-of-usdcad-dated-25-04-2016/

Technical analysis of USDCHF dated 25.04.2016

USDCHF will be chiefly under the influence of Manufacturing PMI in the US for today. It seems that this pair is going to move with bullish bias climbing up the ascendant channel. The support lies at 0.97570 with resistance at 0.97850 which both lines are above the weekly pivot point at 0.97210. The MACD indicator is in positive territory showing the price growth and the RSI is standing above the 50 level. The EMA of 10 is located above the EMA of 50 which shows the price growth for the last recent days. As far as the price is moving above the pivot point, long positions are recommended with the target at 0.98000.

https://fxglory.com/technical-analysis-of-usdchf-dated-25-04-2016/

Technical analysis of EURUSD dated 25.04.2016

EURUSD is under the influence of Manufacturing PMI in Germany, the German IFO expectations and discussion of vice-president of ECB Executive Board and Coeuré over Draghi’s comments last week. After hitting 1.13998 EURUSD has been falling down drastically creating lower highs and lower lows. Today it rose a little but it seems that this pair is not going to break the descendant line. The support rests at 1.12180 with resistance at 1.12580 which both lines are above the monthly pivot point at 1.12030. The MACD indicator is in negative territory signaling the price decline and the RSI confirms this sign while staying below the 50 level. The stochastic indicator is moving in lower ranges as well. The EMA of 10 is located below the EMA of 50 indicating the price fall within the last recent days. The support level breakthrough will smooth the way for 1.1150. Short positions are recommended at the moment.

https://fxglory.com/technical-analysis-of-eurusd-dated-25-04-2016/

Friday, April 22, 2016

Technical analysis of GBPUSD dated 22.04.2016

GBP has lost its power due to the UK government bonds yield and UK retail sales has fallen by 1.3%. GBPUSD has been creating a zigzag pattern leaving similar highs and similar lows. The support rests at 1.43230 with resistance at 1.43670 which both are above the weekly pivot point at 1.41830. The EMA of 10 is above the EMA of 50 showing the price growth over the last recent days. The MACD indicator is in positive territory getting close to the neutral zone and the RSI is moving around the 50 level. Moreover the ADX is not showing any clear signal of strong sellers or buyers. Traders can wait for a better chart setup to open their positions however, the resistance level breakout can be a good sign for buyers.

https://fxglory.com/technical-analysis-of-gbpusd-dated-22-04-2016/


Technical analysis of USDJPY dated 22.04.2016

USDJPY is under the influence of Flash Manufacturing PMI, Merchandise Trade Balance and Tertiary Industry Activity for today. The support lies at 108.890 with resistance at 110.750 which both are below the monthly pivot point at 112.590.This is a consolidation pattern from 107.600 which is not completed yet. The MACD indicator is in positive territory signaling the pair growth and the RSI is above the 50 level confirming the same scenario. Stochastic is showing some price expansion as well. The resistance breakout will push the price higher targeting 110.60 level.

https://fxglory.com/technical-analysis-of-usdjpy-dated-22-04-2016/

Technical analysis of EURUSD dated 22.04.2016

EURUSD is under the influence of Net Exports, Manufacturing PMI, M. Draghi press conference and the ECB meeting. It seems that EUR is getting stronger. The pair is finding support at 1.12810 with resistance at 1.13150 which both are above the monthly pivot point at 1.12030. The MACD indicator is in negative territory signaling the price fall and the RSI is below the 50 level confirming the decline as well. Short term traders can find this pair very lucrative since it is going to be really choppy for today. The support level breakthrough will be a good sign for the price fall targeting 1.1150, otherwise the bulls may appear and push the pair towards 1.1500 level.

https://fxglory.com/technical-analysis-of-eurusd-dated-22-04-2016/

Thursday, April 21, 2016

Technical analysis of USDCAD dated 21.04.2016

Yesterday USDCAD continued its downward trend within the descendant channel however it tried to break the bearish tendency for a couple of times but failed. There is a bearish sign which indicates sellers are getting more profit for this pair. The support lies at 1.26140 with resistance at 1.26740 which both are below the monthly pivot point at 1.31360 indicating the price decline over the last recent days along with the EMA of 10 which is below the EMA of 50. The MACD indicator is in negative territory signaling the price fall. Furthermore the RSI is below the 50 level. The ADX is showing a better sell opportunity as well. Short positions for now are recommended but the resistance breakout will show a close reversal.


https://fxglory.com/technical-analysis-of-usdcad-dated-21-04-2016/

Technical analysis of USDJPY dated 21.04.2016

USDJPY is under the influence of many news reports which are pushing the price in higher ranges. These reports were about the US stocks, the Nasdaq Composite, The Dow Jones Industrial Average and the Nymex crude oil. While this pair is supported by the EMA of 10 and the EMA of 50 it will continue its upward trend within the ascendant channel. The pair is finding support at 109.430 with resistance at 109.970 which both are below the monthly pivot point at 112.590. The MACD indicator is in positive territory showing the price growth. The RSI is above the 50 level confirming the same scenario. Long positions are recommended with the target at 110.15.

https://fxglory.com/technical-analysis-of-usdjpy-dated-21-04-2016/

Technical analysis of GBPUSD dated 21.04.2016

GBPUSD is forming a bullish pattern being influenced by the oil prices and the Brexit reports. It seems that the government speech concerning the Brexit issue has had a positive impact on the British. The pair is finding support at 1.4309 with resistance at 1.43590 both are above the weekly pivot point at 1.41830. There might be a strong resistance from 1.4467 to stop the pair from further growth. The price is above the Ichimoku Cloud and the Chin-kou Span. The Tenkan-sen is signaling an upward trend and the Kijun-sen is showing a horizontal trend. The MACD indicator is in positive territory confirming the price consolidation. The RSI is above the 50 level which means buyers are having a better opportunity. The EMA of 10 is above the EMA of 50 indicating the price growth over the last recent days. Buyers can target 1.4400 otherwise the price may reach 1.4320.

https://fxglory.com/technical-analysis-of-gbpusd-dated-21-04-2016/

Technical analysis of EURUSD dated 21.04.2016

The Producer Price index in Germany has been flat therefore it influences EURUSD for today. Moreover the European Central Bank has some announcements to make about the interest rate as well. This pair has been fluctuating since the beginning of April not creating any kind of extreme bearish or bullish pattern. The support lies at 1.12760 with resistance at 1.13120 which both are above the monthly pivot point at 1.12030. On the downside, the support level breakthrough will be a good sign of the bullish pattern completion and turn the trend into a bearish one. The MACD indicator is in positive territory showing the price correction while the RSI and ADX are both signaling price decline. The EMA of 10 has already met the EMA of 50. There is no clear signal for this pair at the moment however the support level breakthrough will smooth the way for 1.1150.


https://fxglory.com/technical-analysis-of-eurusd-dated-21-04-2016/

Wednesday, April 20, 2016

Technical analysis of EURJPY dated 20.04.2016


EURJPY is under the influence of market sentiment and the European economic statistics such as German 10-y Bond Auction and German PPI m/m for EUR and the Trade Balance for JPY. The price is moving within the bearish zone where the EMA of 10 and the EMA of 50 have met. The support lies at 123.530 with resistance at 124.170 both below the monthly pivot point at 126.120. The MACD indicator is in neutral zone entering the positive zone which can signal a possible price growth. The RSI is above the 50 level and the ADX is showing strong buyers than sellers. There is no clear signal for this pair at the moment however the 121.708 breakthrough with push the price in lower levels.


https://fxglory.com/technical-analysis-of-eurjpy-dated-20-04-2016/

Technical analysis of GBPUSD dated 20.04.2016

GBPUSD is under the influence of interest rates in the Bank of England and the risk of Brexit. The pair is finding support at 1.43430 with resistance at 1.44010 which both of them are above the weekly pivot point at 1.41830. The EMA of 10 is above the EMA of 50 which shows the price expansion during the last recent days. The MACD indicator is in positive territory showing the price growth. The RSI is above the 50 level showing the same prediction. The ADX is also showing that buyers are stronger than sellers. If the bullish trend reaches the resistance level then it would remain so in short term basis. Long positions are recommended with the target at 1.4480.

https://fxglory.com/technical-analysis-of-gbpusd-dated-20-04-2016/

Technical analysis of USDJPY dated 20.04.2016

USDJPY is under the influence of different economic news factors such as Crude Oil Inventories, Existing Home Sales and the Building Permits therefore the pair would act more volatile. According to the chart, the price is finding support at 108.73 with resistance at 109.270 which both of them are below the monthly pivot point at 112.590. The EMA of 50 is above the EMA of 10. The MACD indicator is in neutral territory along with the RSI and ADX. The mentioned indicators are not showing any firm signal for traders at the moment but it seems that the pair is falling down the descendant channel market in the chart. Traders can wait for a better chart setting to open their positions however the support level breakthrough will smooth the way for 107.40.

https://fxglory.com/technical-analysis-of-usdjpy-dated-20-04-2016/

Technical analysis of EURUSD dated 20.04.2016

EUR is under the influence of market sentiment, senior European official’s comments and European economic statistics such as German 10-y Bond Auction and German PPI m/m. USD will be affected by Existing Home Sales and Crude Oil Inventories. Considering the EURUSD chart, support rests at 1.1346 with resistance at 1.1380 which both of them are above the monthly pivot point at 1.12030. The price is moving close to the EMA of 10 and the EMA of 50. The MACD indicator is in positive territory showing the price growth. The RSI is above the 50 level which confirms this scenario along with the ADX which indicates buyers have more power than sellers. A couple of pullbacks will be expected before the price break out. The support level breakthrough at 1.13460 can be the expected pullback therefore it will be a good sign for further rise.


https://fxglory.com/technical-analysis-of-eurusd-dated-20-04-2016/

Monday, April 18, 2016

Technical analysis of USDCHF dated 18.04.2016

USD has stayed stable after the Chief Executive Officer of the Fed of Atlanta’s comments regarding the GBP data. USDCHF is continuing its fluctuation after its bottoming at 0.94964. The support rests at 0.96530 and the resistance at 0.96850 which both are above the weekly pivot point at 0.96310. The EMA of 10 has already rallied the EMA of 50 which proves the price growth over the last recent days. The MACD indicator is in positive territory signaling the price growth. The RSI is above the 50 level which confirms the same scenario and the ADX is showing a buy opportunity. Long positions are recommended targeting 0.9750.


https://fxglory.com/technical-analysis-of-usdchf-dated-18-04-2016/

Technical analysis of GBPJPY dated 18.04.2016


GBPJPY managed to hit 155.136 level before the beginning for the new week but as the market opened on Monday it flung down and is expected to move in lower ranges. The pair is finding support at 152.550 with resistance at 153.590 which both are below the weekly pivot point at 154.000. The MACD indicator is in neutral zone showing the price correction. The RSI is below the 50 level and with the ADX both are signaling sell opportunity. The EMA of 10 is below the EMA of 50 which shows the pair has been weakening recently. Short positions are recommended with the target at 152.

https://fxglory.com/technical-analysis-of-gbpjpy-dated-18-04-2016/

Technical analysis of USDJPY dated 18.04.2016

USDJPY started its downward trend from the last Friday and is going lower for today. This pair is under the influence of NAHB Housing Market Index, the US inflation decrease report and Japan Industrial production decline. USD seems much stronger than JPY. Support lies at 170.660 with resistance at 108.380 both below the monthly pivot point at 112.590. Last week USDJPY created a lower high than the previous high at 113.829. Not only the pair is going down the long term descendant channel but also it is falling down the short term descendant channel as well. The MACD is in neutral territory signaling the price correction. The RSI which is below the 50 level along with ADX are showing stronger sell signal. The EMA of 10 is below the EMA of 50 which shows the pair has been weakening recently. There is a strong resistance between 110 and 111 level. Short positions are recommended due to this chart setting.

https://fxglory.com/technical-analysis-of-usdjpy-dated-18-04-2016/

Technical analysis of EURUSD dated 18.04.2016

EUR is being supported by the 10-year government bonds yield in Germany which surpassed its counterparts and grew. EURUSD is finding support at 1.12650 with resistance at 1.13070 which both are above the monthly pivot point at 1.12030. The EMA of 10 is below the EMA of 50. The price is under the Ichimoku Cloud and the Chinkou Span. The Tenkan-sen is showing upwards direction for the trend while the Kijun-sen is showing horizontal movement. According to this indicator, downward trend is expected for now. The MACD indicator is in negative territory signaling the price correction. The RSI and the ADX are both showing stronger sell opportunities rather than buy. Short positions are recommended with the target at 1.1150


 https://fxglory.com/technical-analysis-of-eurusd-dated-18-04-2016

Friday, April 15, 2016

Technical analysis of USDCAD dated 15.04.2016

On Thursday USDCAD went up and down and today it will be volatile as well. This pair is under the influence of oil production meeting in Qatar. The monthly pivot point breakout at 1.30300 will lead the price to higher levels but if it becomes a resistive zone it will be a good opportunity for sellers. The support lies at 1.27890 with resistance at 1.28410 both below the monthly pivot point. The ADX is showing stronger sign for sellers rather than buyers and the RSI is below the 50 level. The EMA of 50 is above the EMA of 10. Traders can wait for a better chart setting to decide on this pair. Anyway, sellers can target 1.27000.

https://fxglory.com/technical-analysis-of-usdcad-dated-15-04-2016/

Technical analysis of USDJPY dated 15.04.2016



The Bank of Japan Governor’s speech stopped Yen from growing therefore Yen would not have a good chance to win over the strong USD. It seems that bulls are getting the control of the chart. USDJPY is moving in higher ranges climbing the ascendant channel and the rebound from 107.607 still continues pushing the price upward. Support is staying at 109.49 and the resistance at 109.810 both are below the monthly pivot point at 112.590. The MACD indicator is in neutral zone showing the price correction and the RSI is above the 50 level signaling the price growth. The EMA of 50 is located above the EMA of 10. At the moment long positions are recommended with the target at 109.95 otherwise if the price crosses 109.00 level then further decline will be expected to 108.45.

https://fxglory.com/technical-analysis-of-usdjpy-dated-15-04-2016/

Technical analysis of GBPUSD dated 15.04.2016

As the Brexit is still undecided GBP is under pressure and on the other hand the Bank of England announced the interest rate result which was at the same level. GBPUSD is falling down the descendant channel in ranges between 1.44588 and 1.40010. The EMA of 10 has already passed the EMA of 50 which shows the price decrease in recent days. The support lies at 1.41290 with resistance at 1.41710 which both are below the monthly pivot point at 1.42580. The MACD indicator is in neutral territory which shows the price correction and the RSI is below the 50 level. The potential target at the moment is 1.40903 and the 1.40010 level breakthrough will lead the pair to lower ranges.

https://fxglory.com/technical-analysis-of-gbpusd-dated-15-04-2016/


Technical analysis of EURUSD dated 15.04.2016

As USD is getting stronger by the Fed announcements and the China positive export reports, EUR is losing its strength due to the negative reports in Eurozone. Today the bearish trend will be more probable. EURUSD is falling down the descendant channel since the previous high at 1.14640 in 12th of April. Support is resting at 1.12490 and resistance at 1.12690 which both are below the weekly pivot point at 1.13860 and above the monthly pivot point at 1.12030. The MACD indicator is in negative territory signaling the price decline with the RSI below the 50 level which shows the same prediction. There is not enough evidence to trade for this pair at the moment but the 1.11430 breakthrough will be a good signal for further decline.

https://fxglory.com/technical-analysis-of-eurusd-dated-15-04-2016/

Thursday, April 14, 2016

Technical analysis of USDJPY dated 14.04.2016

Yen is affected by the Japanese Ministry of Finance announcements concerning the national currency rise and also the growth of Nikkei. Despite its long term bearish look, USDJPY started its bullish trend on Tuesday and has been climbing the ascendant channel since then. The support rests at 109.160 with resistance at 109.680 which both are below the monthly pivot point at 112.590. The MACD indicator is not showing any clear signals for traders since it is in neutral territory but the RSI and the ADX are showing stronger buy opportunity than sell. The EMA of 10 is trying to reach the EMA of 50 which is above it. If the price breaks the 110.00 level, it will be a good sign for further rise otherwise this level would be a strong resistance stopping the trend from further growth. If 110.00 level stays as the resistive zone then the pair will continue its long term bearish trend. Traders can wait for a better chart setting to set their orders.

https://fxglory.com/technical-analysis-of-usdjpy-dated-14-04-2016-2/



Technical analysis of GBPUSD dated 14.04.2016

Although GBP was supported by the positive reports from UK economic news, the GBPUSD chart stayed bearish because of the strong USD. The pair is finding support at 1.41050 with resistance at 1.41930 which both are moving close to the weekly pivot point at 1.41610. The strong resistance is observed at 1.44588 which limits the pair from further rise. The 1.4004 breakthrough will smooth the way for downside trend to the previous low at 1.38350. The EMA of 10 is crossing the EMA of 50. The RSI is below the 50 levels showing better sell opportunities and the ADX indicator is confirming the same scenario. Short positions are recommended with the target of 1.4160 and 1.4080.

https://fxglory.com/technical-analysis-of-gbpusd-dated-14-04-2016/

Technical analysis of EURUSD dated 14.04.2016

EUR was weakened by the Industrial Production report which was out of Eurozone expectations. On the other hand, FED’s actions are leaving positive impact on USD. Furthermore, the chart has created a rising wedge pattern therefore EURUSD will stay bearish at the moment falling down the descendant channel. The pair is finding support at 1.12430 with resistance at 1.12810 both below the weekly pivot point at 1.13860 and above the monthly pivot point at 1.12030. The EMA of 10 is below the EMA of 50. The MACD indicator is in negative territory signaling the price fall along with the RSI which is below the 50 level confirming the same trend. Moreover the ADX is showing that sellers are stronger than buyers. After the support level breakthrough further decline will be expected targeting the monthly pivot point at 1.12030.

https://fxglory.com/technical-analysis-of-eurusd-dated-14-04-2016/

Wednesday, April 13, 2016

Technical analysis of NZDUSD dated 13.04.2016

NZDUSD is climbing both the ascendant channels, leaving higher highs and higher lows in a choppy pattern and will continue its bullish trend for now. The EMA of 10 is located above the EMA of 50 which shows the price growth in current days. The pair is finding support at 0.69130 with resistance at 0.69650 both are above the monthly pivot point at 0.68140. The MACD indicator is in positive territory showing the price growth and the RSI is above the 50 levels which confirms the same scenario along with the stochastic indicator signaling the same thing as well. Long positions are recommended targeting 0.6970

https://fxglory.com/technical-analysis-of-nzdusd-dated-13-04-2016/


Technical analysis of USDJPY dated 13.04.2016

USDJPY is affected by M2 Money Stock y/y and PPI y/y in Japan and 10-y Bond Auction, the Beige Book and the Crude Oil Inventories m/m in the US. The pair had a growth since 11th of April and now is staying neutral. The price is under the Ichimoku Cloud and the Chinkou Span. The Tenkan-sen is signaling a horizontal trend while the Kijun-sen is showing a price fall. The MACD indicator is in negative territory as the price is correcting but the RSI is staying at 50 level not deciding where to go. The EMA of 50 is above the EMA of 10 which confirms the rate decrease in recent days. Short positions are recommended targeting 107.40


https://fxglory.com/technical-analysis-of-usdjpy-dated-13-04-2016/

Technical analysis of EURUSD dated 13.04.2016

Today the French Final CPI m/m, the Industrial Production m/m and Consumer Prices in Germany affect EUR and in the US, 10-y Bond Auction, Retail Sales m/m and Crude Oil Inventories affect USD. EURUSD is finding support at 1.13550 with resistance at 1.13870 which are both above the monthly pivot point at 1.1203. The pair is staying neutral for the moment and is showing consolidation pattern from 1.14645. Considering the long term picture, the pair had been correcting the sudden fall to 1.08220, as the EMA of 10 is above the EMA of 50 and now it might be time for the price to reach its monthly pivot point at 1.1203. The RSI is below the 50 level which indicates price fall and the MACD indicator is in neutral territory not providing a clear signal for traders. The 1.1464 breakout will be a good signal for buyers showing a steady growth to 1.1550 otherwise the support level breakthrough will lead the price to further decline.

https://fxglory.com/technical-analysis-of-eurusd-dated-13-04-2016/

Tuesday, April 12, 2016

Technical analysis of GBPUSD dated 13.04.2016

GBPUSD is under the influence of Bank of England Governor speech who was concerned about the wage growth and the inflation along with the consumer price index which increased by 0.5% y/y. The GBPUSD pattern looks like a rebound from 1.38344 moving up and down creating lower highs and almost similar lows. The price is finding support at 1.42500 with resistance at 1.42780 which are both above the weekly pivot point at 1.4161. The RSI is above the 50 level but it is moving downwards and the stochastic is showing price fall. The EMA of 10 is above the EMA of 50 but it might go below the EMA 50 again. The support level breakthrough will smooth the way for further decline for 1.4004. Short positions are recommended with the target of 1.4160

https://fxglory.com/technical-analysis-of-gbpusd-dated-13-04-2016/

Technical analysis of GBPUSD dated 12.04.2016

GBP is gaining momentum by the UK government bond yields growth and the oil price which will have a positive impact on this asset therefore GBPUSD will remain bullish within the ascendant channel at the current moment as the EMA of 10 is crossing the EMA of 50. GBPUSD is finding support at 1.42220 with resistance at 1.42560 which both are above the weekly pivot point at 1.41610. The chart is creating a zigzag pattern leaving new highs and lows as market in the picture; however, the new highs are getting lower and lower. The MACD indicator is in positive territory showing the price correction and the RSI is above the 50 level confirming the bullish trend. As the pair has already broken the resistance level, it may move within higher ranges. Long positions are recommended for now.


https://fxglory.com/technical-analysis-of-gbpusd-dated-12-04-2016/

Technical analysis of USDCAD dated 12.04.2016

USDCAD is falling down the descendant channel in the neutral zone remaining bearish for now. Last week the EMA of 10 met the EMA of 50 but as the market opened the EMA of 10 moved below the EMA of 50 showing the price decline. The pair is finding support at 1.28720 with resistance at 1.29280 which both are below the monthly pivot point at 1.31360. The MACD indicator is in negative territory creating a good opportunity for seller along with the RSI below the 50 level which confirms the same theory. The stochastic is also signaling sell opportunities. Short positions are recommended targeting 1.2825.


https://fxglory.com/technical-analysis-of-usdcad-dated-12-04-2016/

Technical analysis of USDJPY dated 12.04.2016

In Japan Bank Lending y/y and Prelim Machine Tool Orders y/y affect JPY and in US the Import prices m/m and Fed Budget Balance affect USD and as the result,USDJPY will be more active today. USDJPY is finding support at 107.74 with resistance at 108.52 both below the weekly pivot point at 109.300. The price is below the Ichimoku Cloud and the Chinkou Span signaling the price decline beside the Kijun-sen and the Tenkan-sen both pointing out the bearish trend. The MACD indicator is in negative territory confirming the price fall along with the RSI locating below the 50 level. The EMA of 10 is staying below the EMA of 50 which shows the pair has been moving in low ranges recently. Short positions are recommended with the target at 106.60.


https://fxglory.com/technical-analysis-of-usdjpy-dated-12-04-2016/

Technical analysis of GBPJPY dated 12.04.2016

While maintaining its bullish trend, GBPJPY is moving within higher ranges getting close to the EMA of 50. The EMA of 10 is below the EMA of 50. The chart has created a double top pattern at 164.056 and 162.572 therefore a double bottom might be seen soon. The RSI is not showing any sign of downward momentum and is crossing the 50 level. Moreover the stochastic is showing an upward trend as well. The support level rests at 153.310 with resistance at 154.610 both below the monthly pivot point at 160.62. Long positions are recommended with the target at 155.45.


https://fxglory.com/technical-analysis-of-gbpjpy-dated-12-04-2016/

 

Technical analysis of EURUSD dated 12.04.2016

EURUSD is under the influence of German Trade Balance for February, German Final CPI m/m and German WPI m/m for EUR and Fed’s Budget Balance announcement for USD. It seems that EUR is still more powerful than USD. The pair is finding support at 1.1392 with resistance at 1.1424 both are above the monthly pivot point at 1.1203. The EMA of 10 is above the EMA of 50 which indicates that EUR has been stronger than USD recently. The MACD indicator is in positive territory showing the price consolidation and the RSI is above the 50 level which confirms the price growth. We confirm yesterday’s analysis and wait for price to reach 1.1550.

 https://fxglory.com/technical-analysis-of-eurusd-dated-12-04-2016/