Forex Technical Analysis

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  • 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 ...
  • Forex Technical Analysis – AUD: the Chinese connection – FBS

    Partners So you reached an advanced level of trading currencies and started picking challenges for yourself, such as “I want to trade news about China but I don’t want trade CNH”. Is that your desire? No problem, Forex can make it come true. Trade the Australian dollar. You don’t see a link? Have a look. The above ...
  • IBM stock: fighting gravity – FBS

    In the meantime While Tesla stock is in a recoil trying to get over $1000 per share, have a look at IBM. Recently, it broke through $153 (September-2018 resistance) after leaving the 200-MA below. Also, 50-MA is crossing 100-MA upwards, which is normally a reliable alert to prepare for buying, if the following trend confirms this ...