Forex News

Trading Divergences in Forex

Divergence is a concept and trading strategy that is common for almost all Forex markets. It shows how the market behaves based on the price changes.

AUD/NZD threatening the downside support level but not enough steam

AUD/NZD is testing the downside within the broader consolidation area, not expected to break out at this stage one way or the other.  AUD/NZD is currently trading at 1.0404 from a high of 1.0445 and a low of 1.0389. Overnight, the AUD/NZD extended post-RBA gains to 1.0437, but the cross has dropped in Tokyo on …

GBP/USD Technical Analysis: Hits fresh 1-week low, but finds some support near descending channel

   •  The pair extended its retracement slide from multi-month tops and remained under some heavy selling pressure for the fourth consecutive session on Tuesday.    •  The corrective slide has been along a descending trend-channel formation on the 1-hourly chart and every attempted recovery remained capped at 50-hour SMA.    •  The intraday fall …

USD/JPY: Ichimoku Cloud strategy playing into the bull’s hands for a run to 78.6% Fibo retracement target of 112.55

USD/JPY has been testing the upside towards the 112 handle and topped out at 111.88. USD/JPY currently trades at 111.85, up from a low of 111.72.  Ichimoku Cloud offering support on an hourly basis with daily and 4hr components aligned bullishly.  The price is climbing through the 4hr Tenken-sen to the upside and supported by …

EUR/USD Technical Analysis: Drops to one-week low, tests 50% Fibo. level support

   •  The pair extended its intraday rejection slide from 50-day SMA and dropped to one-week lows, further below mid-1.1300s during the mid-European session on Monday.    •  A sustained break through 200-hour SMA – for the first time in nearly two weeks, was seen as a key trigger for bearish traders and behind the …

USD/JPY: Bullishly aligned but looking for a discount to get long; Daily Ichimoku Cloud bullish criteria not quite met

USD/JPY opened in Tokyo on the front foot, albeit with little follow through in tight price conditions following the end of month rally. Risk sentiment has turned up a notch but weekend headlines are hampering the dollar’s ability to attract more buyers so early on in the week.  Weekend headlines: President Donald Trump jawbones the …

EUR/USD Forecast: Winter is not over yet, fasten your seat belts for the Draghi drag and NFP number

EUR/USD broke above the range thanks to Powell’s dovishness and Brexit hopes. The ECB decision and the NFP stand out in a busy week. The technical picture looks bullish for the pair and experts are bullish in the medium and long terms. This was the week: Powell’s patience and Brexit hopes Fed Chair Jerome Powell …

EUR/USD remains on the defensive near 1.1350 post-CPI

The pair trades near 1.1350 following EMU CPI figures. EMU advanced Core CPI seen at 1.0% YoY in February. US ISM manufacturing next of significance in the docket. The persistent rebound in the demand for the greenback keeps EUR/USD under pressure in the area of daily lows near 1.1350. EUR/USD offered on data, sentiment Spot …

USD/JPY: Bulls in control as price rises to fresh highs near 111.60

USD/JPY is consolidating the upside where prices reached a high of 111.49 in North American trade. The dollar was fuelled by surprise upside in the US GDP preliminary data beating expectations.  USD/JPY is currently trading at 111.42 in a narrow range at the end of the week’s session in Tokyo at the start of a …

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