Technical analysis of Forex market

JP 225 Index Collapses To 4-Month Low, 200-SMA Acts As Support

Japan’s 225 stock index (cash) collapsed on Monday as the coronavirus cases outside China increased, shifting funds towards safe havens. The index dived straight to the 200-day simple moving average ...
Read More

USD/JPY Outlook: Pullback So Far Limited But Risk of Deeper Correction Exists

The pair pulled back from new multi-month high at 112.22 after bulls faced strong headwinds on approach to strong barriers at 112.40/41 (24 Apr 2019 high/50% retracement of 125.84/98.99 fall) ...
Read More

USD/CNH Breaks Convincingly Above 7.000

As we discussed last week, the coronavirus helped to cause an increase in inflation to 5.4% vs 4.9% expected, as much of the inflation was due to higher food prices ...
Read More

EUR/USD Remains Above 1.0780

During Thursday morning, the EUR/USD currency pair tried to surpass the 100-hour SMA near 1.0820. During today’s morning, the pair failed to surpass the given SMA again. If the given ...
Read More

GBP/USD Tests Resistance

Yesterday, the GBP/USD exchange rate failed to decline below 1.2860. During Friday morning, the rate raised to the resistance formed by the weekly S1, the Fibo 38.20% and the 55-hour ...
Read More

USD/JPY Trades Below 112.00

On Thursday, the USD/JPY currency pair consolidated in the 112.00 area. During today’s morning, the pair was trading at 111.80. Note that the exchange rate could gain support of the ...
Read More

XAU/USD Trades At 1,565.00

Yesterday, the XAU/USD exchange rate raised to the 1,620.00 level. During Friday morning, the rate jumped to the 1,635.00 mark. It is likely that yellow metal could gain support of ...
Read More

XAU/USD Outlook: Gold Extends Advance To New Highest Level Since 2009

Spot gold posted new seven-year high on Friday, in extension of strong six-day advance from $1561 higher base. Persisting fears about coronavirus spreading beyond China and negative impact on global ...
Read More

CHI 50 Index Faces Strong Resistance At 50- And 100-Day SMAs

CHI 50 index is capped by the 50- and 100-day simple moving averages (SMAs) and the Ichimoku cloud after the upside recovery from the 12,528 support level. The short-term upside ...
Read More

USD/JPY Rallies Above 112, Weekly Chart Signaling Crucial Bullish Break

Key Highlights USD/JPY rallied recently above the 111.00 and 112.00 resistance levels. A crucial bearish trend line was breached at 110.05 on the weekly chart. The US Initial Jobless Claims ...
Read More

USD/JPY Outlook: Yen Falls to 10-mth Low on Fading Virus Impact Fears

The pair surged to new ten-month high at 112.22 on Thursday, in extension of previous day’s 1.36% rally. Strong bullish acceleration in past two days was sparked by fading fears ...
Read More