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Category: Technical analysis of Forex market

US 500 Index’s Downside Bearing Curbed as Buyers Step In

The US 500 stock index (Cash) is trading near the red Tenkan-sen line at 3,952 following an increase in risk appetite around a recorded 14½-month low of 3,809. The rolling over of the 200-day simple moving average (SMA) is feeding a dampening picture in the index, while the bearish 50- and 100-day SMAs are endorsing …

US 500 Index’s Downside Bearing Curbed as Buyers Step InRead More

Commitment of Traders Report (COT): CHF Bears Begin to Capitulate

Whilst the COT report shows us traders were their most bearish on CHF futures in 6-months, recent events and price action suggest some of those bears have closed out. Commitment of traders (as of Tuesday 17th May 2022): The weekly change for FX majors were relatively low, and all beneath +/- 10,000 contracts Net-long exposure …

Commitment of Traders Report (COT): CHF Bears Begin to CapitulateRead More

EUR/USD: Improving Techs Point to Further Short-Squeeze, But Fundamentals Still Rule

The Euro is standing at the back foot on Friday, following 1.2% advance on Thursday, but dips were so far limited, adding to positive signal from Thursday’s bullish engulfing pattern. Fresh bullish momentum on daily chart and formation of 5/10DMA bull-cross, underpin the action for potential stronger short squeeze. Bulls need repeated close above 1.30532/45 …

EUR/USD: Improving Techs Point to Further Short-Squeeze, But Fundamentals Still RuleRead More

GBPJPY Tackles 50.0% Fibonacci after Bouncing Off 100-MA

GBPJPY is confronting the 159.69 barrier, which is the 50.0% Fibonacci retracement level of the uptrend from 150.96 until the multi-year high of 168.42, which failed to close north of the 166.07-168.55 resistance zone that extends back to February 2016. The climbing simple moving averages (SMAs) are endorsing the broader bullish structure but it’s worth …

GBPJPY Tackles 50.0% Fibonacci after Bouncing Off 100-MARead More

AUDUSD Bears Take a Breather after Almost 2-Year Low

AUDUSD could not find enough buyers to overcome the 0.7050 resistance level, with the spotlight remaining to the downside as the steep negative bias is still holding. Encouragingly, however, the RSI and the MACD continue to hold above their recent lows, while the latter has also managed to crawl back above its red signal line, …

AUDUSD Bears Take a Breather after Almost 2-Year LowRead More

ECB Members Turning More Hawkish. But Do Markets Believe Them?

Governing Council member of the ECB Klaas Knot said that the ECB should raise interest rates in July by 25bps, but a 50bps hike should not be excluded if data suggest that inflation is rising.  Money markets immediately jumped to pricing in roughly 105bps worth of ECB rate hikes by yearend (from 95bps). These are …

ECB Members Turning More Hawkish. But Do Markets Believe Them?Read More

USD/JPY: Price Rally Stalls at 131.35

After a parabolic rise, USD/JPY registered its first weekly loss on Friday, providing traders the first opportunity to question whether this marks the end to the yen’s misfortune this year. Considering the prevailing uncertainty in financial markets, traders would be wise to measure up the opportunities in either direction, whilst cautiously sizing their positions. If …

USD/JPY: Price Rally Stalls at 131.35Read More

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