Technical analysis of USDJPY dated 17.05.2016

USDJPY is mainly influenced by the price index for corporate goods in Japan which surprisingly fell. The pair is finding support at 108.870 with resistance at 109.170 which both lines are above the weekly pivot point at 108.400. It seems that the price is climbing up the ascendant channel and as EMA of 10 is above the EMA of 50 it confirms the recent price growth. The RSI is above the 50 level and the MACD indicator is in positive territory showing the price rally upward. Moreover the Stochastic is signaling upward trend as well. The pair is moving with bullish bias therefore long positions are recommended with the target at 109.80.


https://fxglory.com/technical-analysis-of-usdjpy-dated-17-05-2016/

Technical analysis of NZDUSD dated 16.05.2016

There are several different economic news factors in the US to affect all the pairs consisting of greenback. For NZDUSD it seems that this pair is willing to trade in lower ranges for today. The support lies at 0.67530 with resistance at 0.68190 which both lines are below the monthly pivot point at 0.69300. Both EMA of 10 and 50 are moving with bearish bias plus the EMA of 10 is lower than EMA 50 which shows the current price decline. The RSI is staying in neutral zone but the MACD indicator is in negative territory and the stochastic is showing price growth. There is no clear signal for traders to decide on this pair so it might be a good idea to wait for a better chart setting. However the support level breakthrough can pave the way for 0.6710 and the resistance breakout can push the pair towards 0.6830.


https://fxglory.com/technical-analysis-of-nzdusd-dated-16-05-2016/

Technical analysis of USDCHF dated 16.05.2016

The US economic news is deciding more on USDCHF for today. USDCHF is moving with more strength climbing up the ascendant channel within the Andrews’ pitchfork. The support lies at 0.97490 with resistance at 0.97730 which both lines are above the monthly pivot point at 0.96280. The EMA of 10 is going up above the EMA of 50. All indicators are presenting buy opportunity. The MACD indicator is in positive territory, the RSI is above the neutral zone and the ADX is showing stronger buyers. After the resistance level breakout the pair might touch 1.0091 and keep its movement with bearish bias. Long positions are recommended with the target at 1.0091.

https://fxglory.com/technical-analysis-of-usdchf-dated-16-05-2016/

Technical analysis of GBPUSD dated 16.05.2016

Britain is not publishing any economic news today and GBPUSD will be more influenced by economic data in the US such as Consumer Sentiment Index from Michigan University and Retail Sales for April. Furthermore the oil price affects this pair as well. The support rests at 1.43370 with resistance at 1.43830 which both lines are below the monthly pivot point at 1.44260. The pair is falling down the descendant channel. All indicators confirm the sell signal, the MACD is in negative territory, the RSI is below the 50 level and the ADX is showing stronger sell opportunity than buy. The EMA of 10 is staying below the EMA of 50 suggesting the price fall over the last recent days. The support level breakthrough will smooth the way for further decline to 1.4240.


https://fxglory.com/technical-analysis-of-gbpusd-dated-16-05-2016/

Technical analysis of EURUSD dated 16.05.2016

EURUSD is chiefly affected by the US economic news since there is no special report in Eurozone for today. The US is announcing and Empire State Manufacturing Index, TIC Long-Term Purchases and NAHB Housing Market Index. EURUSD is moving with bearish bias creating support at 1.12960 with resistance at 1.13220 which both lines are below the monthly pivot point at 1.13740. The EMA of 10 is located below the EMA of 50 suggesting the price decline in the last recent days. All indicators are signaling sell opportunity such as MACD which is in negative territory, the RSI is below 50 and the ADX is showing strong sellers. Sellers can expect the price to touch 1.1150.

https://fxglory.com/technical-analysis-of-eurusd-dated-16-05-2016/

Technical analysis of USDCAD dated 13.05.2016

USDCAD is chiefly affected by Canada’s housing price index and for today there is no economic news in Canada. Market will be more active next week with the release of nation’s consumer price index, retail sales and BoC review report. The pair is finding support at 1.28290 with resistance at 1.28790 which both lines are above the weekly pivot point at 1.27720. The pair might fall down the descendant channel creating another bottom at 1.24610. The price is expected to move in lower ranges due to the oil market as well. Moreover the MACD indicator and the RSI are in neutral zone but the ADX is showing strong buyers suggesting that the price will follow the Andrews’ pitchfork. There is no clear signal at the moment so traders can wait for a better chart setup.

https://fxglory.com/technical-analysis-of-usdcad-dated-13-05-2016/

Technical analysis of USDJPY dated 13.05.2016

Today USDJPY is under the influence of some economic news reports such as M2 Money Stock y/y and Tertiary Industry Activity m/m in Japan and the US is announcing Core Retail Sales m/m, Business Inventories m/m, the Revised UoM Inflation Expectations and Retail Sales m/m therefore this pair will be more active. USDJPY is finding support at 108.59 with resistance at 109.050 which both lines are above the weekly pivot point at 106.690. The pair is climbing the ascendant channel. The EMA of 10 is moving above the EMA of 50 suggesting the price growth over the last recent days. All indicators are showing buy signal; the price is above the Ichimoku Cloud and the Chinkou Span. The Kijun-sen and the Tenkan-sen show a horizontal movement. The MACD indicator is in positive territory confirming the buy signal and the RSI is above the 50 level. The resistance breakout will pave the way for 109.80.

https://fxglory.com/technical-analysis-of-usdjpy-dated-13-05-2016/