EURNZD (1H) - short term bullish bias The euro found strong buying interests near the 4H support level of 1.7330. The 20-hour MA has crossed above the 30-hour one and this morning's strong momentum suggests mounting bullish pressures for the next few hours. We expect the price to test the congestion area of 1.7500 which is a psychological level as well as the...
USDJPY (1H) - short term bullish bias The RSI divergence from last week foreshadowed a possible recovery of the US dollar against the yen. Friday's bullish candle broke above the moving averages that acted as resistance during the fall. The faster MA has crossed above the slower one giving further confirmation that a turnaround could be happening. A rally would...
Brent crude (1H) - short term bullish bias The RSI divergence already gave us a hint of a potential reversal in the making. Now we have the confirmation from the bullish MA cross and rally above the averages. The immediate target would be the resistance level around 59.20. Its break could trigger a broader recovery above 61. Though as the RSI is pointing towards...
EURCHF (1H) - intraday bullish bias The pair broke below both moving averages in a sell-off that looks like a series of profit-taking. We can expect buyers to be lurking around the support line of 1.0920, which is a 38.2% Fibonacci retracement level of the latest upside move on the 4H chart. The price could go into consolidation for the rest of the day....
NZDJPY (1H) - short term bullish bias The RSI divergence from earlier this week turned out to be a valid forecast of a reversal. The strong momentum breaking above the 67.45 resistance along with a bullish MA cross was the confirmation that the price action was heading north for the next few days. We can expect a pull back around the averages and the trendline,...
NZDUSD (4H) - short term bearish bias As usual, the RSI divergence: lower lows in price vs. higher lows in indicator is giving us a hint that sellers are taking their feet off the pedal, for now. This could be a signal that a turnaround might be around the corner. Still, the downtrend will continue unless a break above 0.6300 coupled with a bullish MA cross...
EURCAD (1H) - short term bullish bias The single currency broke through the roof as the Canadian dollar's sell-off triggered stop-losses near key resistance levels. After a short-lived pull back the pair bounced back from the moving averages to a new high. Sentiment has turned bullish, though the overshot RSI indicator could foreshadow another retracement before...
GBPJPY (4H) - short term bearish bias The British pound could be getting ready for a corrective bounce (wave C) in the next few weeks, but before that it is likely to continue its pullback for the rest of the week. Both moving averages will act as resistance levels to keep the price in check. The immediate targets would be the 50% (131.20) then 61.8% (130.20)...
AUDUSD (1H) - short term bearish bias Yesterday's rebound failed to produce a new high but was met with stiff selling pressures around the moving averages. Market sentiment remains pessimistic even though we start to see some weakness in the US dollar across the board. Should the price struggle to rally above 0.6720, we can expect the aussie to stay underwater...
USDCHF (D) - medium term bullish bias Today the greenback is making another push at the parity, an important psychological level. The pair has been rising along a well-defined trendline after a bullish MA cross in early September, and we expect the trend to carry on as long as the price stays above the line. The RSI is still in the neutral territory, which gives...
EURUSD (1H) - short term bullish bias After a RSI divergence earlier, the price action saw another bullish MA cross last night but will it be the start of a reversal this time? Judging by the engulfing bullish candle, buyers seem to be committing more chips to the table. The euro has met some pressure near the resistance level of 1.0945. The price is likely to...
GBPUSD (1H) - short term bearish bias The British pound came under fresh pressure at the US open. The price action broke below the rectangle consolidation area with a strong momentum, which suggests that sellers are still in control. 1.2200 will be a psychological test level to see if buyers start to show up. However, sentiment will stay bearish as long as the...
EURCHF (1H) - short term bullish bias Buying gained traction as the price bounced back from the daily support near 1.0810. The break of the 1.0870 resistance along with a bullish MA cross was a signal that the sentiment was probably turning around. Following a short-live consolidation around the MA, the upside momentum is a confirmation that a larger rally in yet...
USDJPY (4H) - short term bullish bias After breaking above the neckline (108.00) last week, the price found renewed buying interests near the moving averages. The projection of the head and shoulders pattern suggests that the next target would be at 108.47, which is also a resistance level from a previous high. We could expect profit takings there, though the...
EURGBP (1H) - short term bearish bias The pound found some buying interests to bounce back at the start of the week. The euro dropped below the established trendline and cut through the moving averages, indicating that short-term longs are jumping off the ship. The area around 0.8850 will be a strong test for buyers who wish to hold on. Though a bearish MA cross...
USDSEK (W) - Long term bullish bias The break of the 9.44 resistance on the weekly chart has triggered a broader rally as the US dollar gained strength across the board. The price is heading towards the psychological level of 10.00 which coincides with the upper band of the channel from last January. However, the bullish trend will stay intact as long as the...
GBPCAD (1H) - potential reversal The price has been sliding towards the 4H support of 1.6230, and we can expect a rebound as shorts start to take profit. The RSI divergence, i.e. higher lows in the indicator vs. lower lows in the price signals a decrease in the bearish momentum. A successive break above the moving averages and the level of 1.6340 could trigger a...
EURJPY (D) - Medium term bullish bias The RSI divergence we saw in August was an advance warning that the downside momentum was slowing down, and that the price could soon turn around. The September rally has found support right at the 61.8% (117.60) Fibonacci retracement level, and today's bullish candle could be the first part of the corrective wave C. Key...