OctaFX | OctaFX Forex Broker
Open trading account

Nikkei short-term technical picture remains bullish

FXStreet (Córdoba) - The Nikkei 225 remained closed on Tuesday on a National holiday, with its latest close at 18,683.24. The index, however, recovered well above the 19,000 in electronic trading, following another good day in Wall Street.

Nikkei technical perspective

“The technical picture remains bullish, with the index heading towards its recent highs in the 19,150/70 region, and with the daily indicators heading strongly up near overbought levels. In the same chart, the 20 SMA offered a strong support earlier this week, and maintains a strong bullish slope in the 18,500 region”, said Valeria Bednarik, chief analyst at FXStreet. “Shorter term, the 4 hours chart presents a neutral stance, with the index above a horizontal 20 SMA, and the technical indicators going nowhere right above their mid-lines. Should the index extend its rally above the mentioned 19,170 region, the next critical resistance stands around 19,280 where the 100 and 200 DMAs converge”.

Bednarik sees next support levels at 18,990 18,912 18,820, while she places resistances at 19,110, 19,170 and 19,245.

GBP/CAD continues to fall as oil’s comeback helps the loonie

The GBP/CAD cross ended the day with losses, driven by Canadian dollar's recovery in sync with crude oil’s sharp advance, as the commodity soared above $48.00 a barrel in the US, on concerns about a sudden reduction in oil production.
Read more Previous

EUR/USD cleary bearish - FXStreet

Valeria Bednarik, chief analyst at FXStreet noted that the financial markets posted quite mixed results this Tuesday, with steady losses in the EUR and the JPY against the greenback, oil prices surging to fresh 3-week highs, and gold plummeting to a 5-week low, being the most notable developments.
Read more Next
Start livechat