01:17 Intraday SMA cross seen on EUR/JPY
A new leg up in EUR/JPY bolstered its 100 hourly SMA to cross above the 200 period one.
While this intraday “Golden Cross” doesn't assure the recent correction is done and dusted, the low prices printed on hourly charts are at a converging distance to the SMA cross. This price level could be used as a technical hotspot by many EUR/JPY traders. The risk scenario is set once a close beyond the 200 SMA is printed.
01:13 USD/SGD trading in oversold territory
The daily USD/SGD RSI has moved below 30%, meaning that the pair is trading in oversold territory.
The USD/SGD daily RSI(14) has crossed below the 30% threshold while the weekly oscillator is already printing below 50% for several months. This suggests a fully-fledged down trend with a risk of being over extended market.
01:09 Harami pattern defies AUD/JPY uptrend
A harami cross pattern spotted on the AUD/JPY weekly chart chart indicates a trend change from bullish to neutral.
Prices challenged the 21-period 2 standard deviation upper band by printing outside of its boundaries in the last two weeks. The bearish pattern also happens in the context of a 14,3,3-parametrized stochastic tracking above 80. This oscillator could easily react with any future close near the lows, specially after last week's open and close prices formed a doji line on the chart.
01:06 USD/CAD hammered support
A hammer reversal pattern hints that bearish momentum may be slackening in USD/CAD.
The pattern emerged on the daily chart where the Percentage Price Oscillator - a normalized MACD- has been printing below -1. While the oscillator is not at its extremes, there is a real threat of prices moving now considerably higher.
01:03 Reversal pattern tipping AUD/USD traders off for a downside break
The AUD/USD rally was countered with an evening star on the daily chart.
This pattern features a larger than usual white candlesti
00:04 EUR/JPY buyers could defend SMA crossover
The advance in EUR/JPY prompted its 100-hr SMA to cross above the slower 200-hr SMA.
The low prices printed on hourly charts are at a converging distance to the “Golden Cross”. This price level is likely to underpin the EUR/JPY rate as buyers find support at the confluence. The risk scenario is set once a close beyond the 200 SMA is printed.