Forex

Posts Tagged ‘rsi’

The daily chart shows the EUR/GBP going up against a declining trendline. The market is reacting by pausing the rally at 50% retracement, 0.8350 level. Note the RSI is remaining under 60 for now and is turning lower. The 0.8400 area is 61.8% retracement, and is the resistance zone for

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• GBP/JPY in Wave V Extension? (0)
• Technical Analysis for Crosses (0)

The USD/CAD was not able to break above channel resistance, and is attempting to top off. The 1.05 is the base for the possible double top developing. The 4H chart shows the reading struggling to go below 40. A break below 40 can invalidate the bullish signal of the RSI

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• Daily Forex Update: GBP/USD (0)
• USDCAD: Working Its Way Higher To 1.0737 (0)

The daily chart shows the market finishing a pullback that followed the break below a "naked" head and shoulder. It was naked because it was not confirmed and can actually be a continuation pattern, especially with the RSI staying above 40 since mid-June. An RSI reading that stays above 40

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• USD/CAD Breakout or Clear-out? (0)
• Daily Technical Analysis (0)

EURO: The Euro (1.2710), which seemingly formed the base at 1.2608 (expected support) yesterday, could lead to a corrective rally towards 1.2760-2830, within an overall downtrend. Immediate support continues to be near 1.26 levels which was held. Stochastics and the RSI are oversold but remain neutral to bearish signalling that

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• Market Morning Briefing (0)
• Foreign Exchange Market Commentary (0)

The daily chart shows a scenario similar to that shown on Friday's Weekly Technical Update. The opening session is stalling the rally projected towards 1.0630 area. The RSI is still under 60, but can break above in the next couple of sessions if they are bullish. Let's take a look

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• EUR/USD: Tracking Corrective Count after Tumble (0)
• Aussie And Cad – Just One More Push, Nearly There (0)

The GBP/JPY pair continues to be in consolidation. The 133.00 level is still action as support. However, within the consolidation pattern, the market is in a declining triangle, or wedge as can be seen in the 1H chart. The RSI in the 4H shows bearish bias, as it has gone

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• Foreign Exchange Market Commentary (0)
• EUR/USD, technically it should go up, will it? (0)

Technical analysis shows the euro may continue the minor downtrend as MACD chart gives a selling signal by crossing the signal line downwards and RSI breaks 70% line and is pointing downwards. Stochastic oscillator gives a bearish direction.

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• Technicals & Chicago PMI Agree, EUR/USD Above 1.5000 (0)
• Foreign Exchange Market Commentary (0)

The secondary image shows how the GBP/JPY pair has supported as well around the lower line of the ascending channel, which dominates the movements of the harmonic structure;respecting yesterday's technical speculation. More bullishness could be seen over intraday basis, supported by the bullish sign started to appear on RSI and

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• Foreign Exchange Market Commentary (0)
• Foreign Exchange Market Commentary (0)

Risk of further downside weakness continues to be seen despite the cross's current bid tone. This is coming on the back of its Wednesday losses. On a violation of the 0.8202 level, further declines will shape up towards the 0.8100 level, its psycho level and possibly lower. Its daily RSI

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• GBPUSD: Struggling To Put In Temporary Bottom (0)
• The Daily Forecaster: GBPJPY (0)

The USD/CAD rallied sharply after declining to almost 1.01. I mentioned there was support just below 1.02. Initially, the RSI was showing a bearish signal. However, after Friday's rally that became invalid and there is actually a bullish signal now. The market is currently in a wedge. It is consolidating

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• Foreign Exchange Market Commentary (0)
• Aussie And Cad – Just One More Push, Nearly There (0)