Technical Analysis

Technical Outlook - USDJPY, AUDJPY, NZDJPY and CHFJPY
April 29, 2015 - 15:34
Expectations concerned to downgrading of inflation forecast in upcoming Bank of Japan (BoJ) meeting, scheduled for Thursday, triggered JPY weakness on Monday while Tuesday’s news of Fitch downgrading Japan's credit rating coupled with the record low Retail Sales helped extending the JPY decline. Japanese markets are closed on Wednesday and is likely to trade volatile on Thursday due to the BoJ meeting. Also Read: Crucial Releases To Keep Forex Traders Busy Meanwhile, the following is a brief technical outlook of USDJPY, AUDJPY,...
Technical Update - EURUSD, AUDUSD, NZDUSD and USDCAD
April 28, 2015 - 15:06
The US Dollar added to its last week's losses on Monday and on Tuesday as investors look forward to the FOMC monetary policy decision and the release of advanced US GDP data for first quarter of 2015, scheduled for release on Wednesday. Meanwhile, here is a technical update on important major currency pairs - EURUSD, AUDUSD, NZDUSD and USDCAD. ALSO READ: Crucial Releases To Keep Forex Traders Busy EURUSD After managing to defend 1.0500 mark, the pair has moved back above 1.0900 level resistance marked by 50-day SMA. The pair...
Technical Outlook - Important GBP Pairs
April 28, 2015 - 15:03
Preliminary reading of Q1 2015 UK GDP, released on Tuesday, rose at a slowest pace in last two years but failed to provide noticeable repercussions from the GBP as the GBPUSD and the GBPJPY rallied to its eight and seven weeks high respectively after the release while the EURGBP and GBPAUD revealed minor weakness of the Pound. With no major details from UK left for publishing during the rest of the week, except Friday’s UK Manufacturing PMI, market players are likely concentrating on US GDP and FOMC to determine near-term Forex moves...
Technical Outlook - AUDNZD, GBPNZD and GBPAUD
April 24, 2015 - 15:08
Even if the commodity currencies, mainly AUD, NZD and CAD, were equally affected by weaker than expected Chinese Manufacturing PMI release, dovish comments by the RBNZ Governor, Graeme Wheeler, gifted considerable weakness to the NZD on Thursday. The Kiwi, as it is nicknamed, continued extending its losses during early Friday trading.  Market players await monetary policy meeting of the RBNZ, scheduled during the next week in order to determine near-term direction of the NZD pairs. The Australian economic calendar seems empty during...
Technical Outlook - Important CAD Pairs
April 23, 2015 - 15:05
Ever since the Bank of Canada signaled that there won’t be any rate change in near-term, the Canadian Dollar (CAD) gained considerably against majority of its counterparts; however, recent weakness into the Crude prices, due to easing geo-political tensions in Yemen and rising US Crude inventories, trimmed CAD advances. Moreover, negative reading of the Canadian Wholesale Sales, published on Tuesday, provided additional weakness to the Loonie, as it is nicknamed. Also Read: Market Turns Cautious On USD Given the backdrop, the...
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