MACD

Trade Of The Week: Gold Down, But Not Out As February Kicks Off

Mon, 06 Feb 2023 11:17:40 +0000

After tumbling 2.5% last Friday due to an unexpectedly strong US jobs report, gold prices have kicked off the new week on a steadier note.

The precious metal is attempting to nurse deep wounds inflicted by January’s blockbuster NFP report which aggressively fuelled expectations around more US rate hikes from the Federal Reserve. Last month, the US Read More

USDJPY bulls have not given up yet

Thu, 08 Dec 2022 11:30:37 +0000

The USDJPY currency pair (nickname “the Yen”) on the H4 time frame was in a downtrend until 2 December, when a last lower bottom was recorded at 133.611.

After the bottom at 133.611, the market broke through the 15 and 34 Simple Moving Averages and the Momentum Oscillator broke the 100 baseline into bullish terrain. A possible shift in the market momentum from bearish to bullish was further confirmed with many strong bullish candles driving the price significantly higher to make Read More

Trade of the week: Gold Waits For Fresh Fundamental Spark

Mon, 28 Nov 2022 12:24:20 +0000

Gold kicked off the week on a positive note as unrest in China over Covid restrictions strained global sentiment. A growing sense of anticipation ahead of the US jobs report along with other top-tier data this week added to the overall caution, leaving investors on edge. With a softer dollar adding to the mix, bulls were injected with enough confidence to challenge levels not seen since November 18.

Trade Of The Week: Will USD continue to reign supreme?

Mon, 07 Nov 2022 12:39:30 +0000

After dominating the FX space this year, could the dollar’s reign be coming to an end?

The past few weeks have been rough for the greenback thanks to renewed risk sentiment and markets scaling back bets for further aggressive Federal Reserve interest rate increases. Since the start of Q4, the dollar has depreciated against almost every single G10 currency – shedding more than 6% against the Norwegian Krone and 5.7% versus the New Zealand Dollar.

GBPUSD: Bullish momentum on the increase

Thu, 20 Oct 2022 12:41:44 +0000

The GBPUSD on the D1 time frame was in a down trend until 26 September when a possible last lower bottom was recorded at 1.03516. Prices that low was just too good to be true for the bulls and they started buying into the price weakness.

After the lower bottom at 1.03516, the price hurled through the 15 and 34 Simple Moving Averages and the Momentum Oscillator oscillated into the bullish terrain. This could have warned traders that know the market language that the bearish Read More

Mid-Week Technical Outlook: GBP

Wed, 12 Oct 2022 12:42:06 +0000

Sterling remains in the market headlines for all the wrong reasons thanks to growing uncertainty and confusion from not only the Bank of England but the UK government.

Pound bulls were dealt a heavy blow yesterday after Andrew Bailey warned that the central bank would not extend its emergency intervention beyond this week. However, prices later rebounded on reports that the BoE could extend bond purchases past Friday’s deadline. It does not end here. The prospects of more humiliating U-turns on the mini-Budget injected Read More

Trade Of The Week: Are USD Bulls Throwing In The Towel?

Mon, 12 Sep 2022 13:21:52 +0000

The mighty dollar has been an unstoppable force in 2022, flattening everything in its path.

But back in August, we questioned whether the king of the currency markets was losing its grip on the FX throne after the Dollar Index (DXY) punched above 109.14 Read More

GBPUSD bulls show their strength

Thu, 02 Feb 2023 10:05:38 +0000

The GBPUSD currency pair on the Weekly (W1) time frame was in a remarkably long downtrend until a lower bottom formed on 25 September at 1.03514.

After the last bottom, the bulls stirred after their long rest and started flexing their muscles. The price broke through the 15 and 34 Simple Moving Averages with the Momentum Oscillator following close behind as the price broke through the 100 baselines into bullish territory.

USDJPY bears are building momentum

Thu, 12 Jan 2023 09:53:05 +0000

The USDJPY currency pair on the H4 time frame had upward momentum until a last higher top formed at 134.768 on 6 January, close to a weekly resistance level. Sellers then started overcoming buyers with the resulting change in market momentum and structure.

After the higher top at 134.768, the price broke through the 15 and 34 Simple Moving Averages and the Momentum Oscillator sliced through the 100 baseline into bearish terrain.

GBPUSD bears make their presence felt

Thu, 05 Jan 2023 09:57:13 +0000

The GBPUSD on the D1 time frame was in a prolonged uptrend until 14 December when a last higher top was recorded at 1.24454.

A closer look at the Momentum Oscillator reveals a negative divergence between points “a” and “b” when comparing the tops at 1.23435 and 1.24454. This could have warned technical traders that the bullish trend was losing momentum.

After the higher top at 1.24454, the price dropped through the 15 and 34 Simple Moving Averages and the Momentum Oscillator followed suit by moving into bearish terrain. This confirmed that the bears are making Read More