Forex Technical Analysis

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  • AUD: going pre-crisis – FBS

    Technical This week, the AUD has been one of the strongest currencies on the Forex market. Currently, it is at pre-crisis levels against the JPY and the USD. Trading this high, it is testing the long-term downtrends at 0.7000 for the AUD/USD and 76.00 for the AUD/JPY. The question is, even if it does break it, ...
  • Currencies, oil and gold: a brighter picture – FBS

    Focus of the week: currencies, oil & gold The market keeps fighting through uneasy times. Today, however, the picture seems to be sunnier than at the beginning of the week. Currency table is relatively balanced in favor of the US dollar, the oil and gold prices made a step up. Currencies Strategic uncertainty supports the US dollar, ...
  • GOLD: back to indifference – FBS

    Defying the natural On the daily chart, we see gold behaving in a very strange way. In December-January, when the US-China trade agreement was announced to be sealed and was finally signed, it was rising (what?). When the virus struck and went “wild” in January-February, gold barely moved a finger (again, what?). That’s not an exaggeration ...
  • 3 stocks that did not back down to the virus – FBS

    Walmart: standing tall: While a number of stocks lost up to 50% of their value because of the coronavirus, Walmart, although going through obvious turbulence, did significantly better than 99% of its peers. Ironically enough, its performance in 2020 is +1%. Under normal market conditions, it would hardly be a reason to brag. But when the ...
  • NZD/CAD: another bearish candidate – FBS

    Key indicators: Performance in 2020: -5%, Last day range: 0.8257 – 0.8482, 52-week range: 0.8015 – 0.9281 What’s happening? NZD/CAD trades at 0.8349, testing the lows of Summer-2019, -2018, and -2015. The support for all is at 0.8237. Crossing this strategic threshold paves the way to the 7-year low of 0.8032. Given the current situation for the NZD and ...
  • USD/CHF: two-year lows – FBS

    Key indicators: Performance in 2020: -0.8%, Last day range: 0.9550 – 0.9584, 52-week range: 0.9520 – 1.0236 What’s happening? The USD dropped to its two-year lows against the Swiss franc. 0.9577, where it is now, was last visited by the USD/CHF in March 2018. That doesn’t change much in historical terms (this level is an average the currency has ...
  • EUR: another winner in the field – FBS

    Key indicators: Performance in 2020: -0.6%, Last day range: 1.1037 – 1.1184, 52-week range: 1.0780-1.1515 Euro’s winning spree: The euro has been in decline against the US dollar since the very beginning of 2018. That means, for more than two years. Now, this long-term trend is put to a test. Who would know that it would be Coronavirus that ...
  • JPY: Forex reconquest – take two – FBS

    Key indicators: Last day range: 107.36 – 108.37, 52-week range: 104.43 – 112.40 What’s happening? We have spoken about the JPY’s return already, and now we need to speak of it again. Why? Look at the chart. There is hardly any other currency on the Forex market against which the USD lost so much value in the last weeks. The ...
  • JPY: the Forex market reconquest – FBS

    Key indicators: Performance in 2020: +2.4%, Last day range: 109.55 – 110.44, 52-week range: 104.46 – 112.40 Yellow-zone alert: Now that the Coronavirus is reducing its pace of expansion inside China and increasing its conquest globally, the markets woke up to the probability of having it at a pandemic level. The USD is no longer a bastion of safety as ...
  • Why did gold turn down? And did it really? – FBS

    XAU/USD is consolidating after spiking to the 7-year high at $1,689. If we compare the current price action on the D1 with what was seen in January (the price spiked up and then consolidated without declining much), we’ll see that there are more candlesticks with long upper shadows – a sign that there are sellers ...
  • Technical Analysis AUD/USD: 11-year lows – FBS

    Key indicators: Performance in 2020: -6%, Last day range: 0.6582 – 0.6620, 52-week range: 0.6582 – 0.7203 Go strategic: Rarely a monthly chart adds much value to short- and mid-term assessments of a currency pair performance. But not this time. Currently, the AUD/USD is at 0.6617. The last time it has been this low was March 2009. 11-year low! That ...
  • NZD/JPY: Three Swings – FBS

    Sudden beauty: Rarely can you see such a symmetric cascade of several swings presented by a currency price. NZD/JPY seems to be in a moment of indecisiveness between the support of 70.000 and resistance 71.300. Fundamentals: As you can see, this wavy sideways movement has started at the beginning of February – that’s when, instead of seeing the ...
  • PALLADIUM: $500 to $2,500 – FBS

    Key indicators: Performance in 2020: +33%, Last day range: $2,506 – $2,592, 52-week range: $1,267 – $2,592 What’s happening? Nothing special, just palladium used to trade at $500 per ounce five years ago, and recently it reached $2,500. Few items in Forex show a similar rising dynamic, if any. Currently, the metal trades at $2,592, which is an all-time ...
  • GBP/USD Rate Rebound Undermined by Bearish – DailyFX

    BRITISH POUND TALKING POINTS: GBP/USDattempts to retrace the decline from the start of the month, but the Relative Strength Index (RSI) undermines the recent rebound in the exchange rate as the indicator continues to track the bearish formation carried over from December. TECHNICAL FORECAST FOR BRITISH POUND: BEARISH: GBP/USD has reversed course ahead of the November low (1.2769), with ...
  • Technical Analysis: USD/MXN: tricky fundamentals – FBS

    Key indicators: Performance in 2020: -2%, Last day range: 18.5657 – 18.6048, 52-week range: 18.5680 – 20.2528 What’s happening? The USD trades at 18.5740 against the Mexican peso – that’s the lowest the USD/MXN has been to since October 2018. Wait. Peso? Yes, the Mexican peso. Unfortunately, time and intensity of global events, like the Coronavirus disturbing the world, do not let ...
  • Technical Analysis: EUR/GBP: the battle is on – FBS

    Key indicators: Performance in 2020: -1.7%, Last day range: 0.8296 – 0.8388, 52-week range: 0.8276 – 0.9324 What’s happening? EUR/GBP is falling. Why? Mainly, for the same reason, the EUR/USD is falling. During our analysis, we saw that there are multiple reasons for the USD to get stronger and none for the EUR. Almost the same applies to the ...
  • EUR/USD: as low as three years ago – FBS

    Key indicators: Performance in 2020: -2.6%, Last day range: 1.0862-1.0923, 52-week range: 1.0862-1.1338 Where does the support level come from? It comes from spring 2017, almost three years ago. That’s how low the EUR/USD trades now. Therefore, if things keep going as they do now for this currency pair, you will have to hang your support levels ...
  • Currency pair of the day: USD/BRL – FBS

    Currency pair of the day: USD/BRL Performance in 2020: +7.6% Day range: 4.2986-4.3400 52-week range: 3.6922-4.3400 Technical levels Resistance 4.3500 Support 4.3140 Brazil: what’s happening? Internally On February 5, the Central Bank of Brazil cut the interest rate to an all-time low of 4.25. In the short-term, that pushes the USD (even more) up against the BRL. In the long-term, that indicates economic weakness ...