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Technical Analysis – EURAUD challenges 23.6% Fibo near 1.6300

Posted on November 19, 2020 at 2:25 pm GMT

EURAUD is testing again the strong resistance around the 23.6% Fibonacci retracement level of the down leg from 1.6825 to 1.6143 at 1.6305, remaining at the same time inside the Ichimoku cloud. The MACD oscillator is flattening near the zero level, while the RSI, although above its 50 neutral mark, is currently pointing down. Immediate resistance could come from the 1.6305 barrier before the spotlight turns to the 1.6340 hurdle and the 1.6390 number. Higher, the price could hit the 38.2% Fibonacci mark of 1.6403 ahead of the 200-period [..]

With a vaccine on the horizon, what’s next for gold? – Special Report

Posted on November 19, 2020 at 10:15 am GMT

A combination of cheap money policies and runaway government spending propelled gold prices to new record highs earlier this year, but the metal has been trapped in a range for three months now, and the burning question is whether bullion’s best days are behind it now that a vaccine is on the radar. Maybe not. The ‘reflation’ trade could dominate next year, and central banks are unlikely to allow bond yields to move higher from here, setting the stage for [..]

Daily Market Comment – Virus surge overshadows vaccine progress, dollar ticks up

Posted on November 19, 2020 at 10:01 am GMT

Wall Street wobbles as restrictions tighten across the United States Dollar firms across the board amid growing fears of a winter health crisis EU budget row, Brexit angst sap euro and pound Markets subdued as virus surge shows no sign of easing Vaccine optimism struggled to sustain the positive risk sentiment as investors found it hard to ignore the ever-worrying headlines about exploding infection and hospitalization rates in Europe and America. The death toll in the United States from COVID-19 [..]

Technical Analysis – EURJPY tumbles to 10-day low; further weakness expected

Posted on November 19, 2020 at 9:56 am GMT

EURJPY recorded an aggressive bearish movement towards a ten-day low of 122.83 earlier today, failing to increase above the 100-period simple moving average (SMA). The RSI is currently turning marginally up in the bearish region, while the MACD is losing more ground in the negative territory. However, the stochastic indicates that a rebound is not far off since the oscillators are close to oversold levels. Still, this is more likely to happen if the % K line finally forms a bullish cross with [..]

Technical Analysis – AUDUSD struggles at range’s ceiling; positive drive feeble

Posted on November 19, 2020 at 9:42 am GMT

AUDUSD is dwindling from the ceiling of the range at 0.7344, after recent positive price action thrusted over the simple moving averages (SMAs) and the Ichimoku cloud. The flattening demeanour of the 50-day SMA and the blue Kijun-sen line appears to be aiding the short-term horizontal trajectory, while the rising 100-day SMA and gradual upturn in the 200-day SMA are promoting additional gains. The short-term oscillators reflect anaemic momentum, endorsing the consolidation in the pair. The MACD, in the positive [..]

Technical Analysis – WTI crude oil stabilizes after vaccine boost

Posted on November 19, 2020 at 9:00 am GMT

WTI crude oil futures (December delivery) crawled above its 20- and 50-day simple moving averages (SMA) following the positive vaccine news, but the 61.8% Fibonacci of the 65.61 – 6.62 downleg appeared heavy to push once again at 43.08, with the price stabilizing around that level. The tiny thin candles posted the past few days mirror an indecisive market. Still, with the RSI attempting to regain strength above its 50 neutral mark and the MACD gradually rising within the positive [..]

Technical Analysis – EURUSD touches ascending line; positive in short-term

Posted on November 19, 2020 at 8:19 am GMT

EURUSD has been in an upside movement, despite the lower low at 1.1893 in the previous days from the two-and-a-half-month peak of 1.1920. The price went back to 1.1830 as buyers failed to really challenge the 1.1900 number this week, testing the ascending line, which stands near the 40-period simple moving average (SMA) and the 1.1830 support level. According to the technical indicators, the RSI is holding near the neutral threshold of 50 and is moving sideways, however, the stochastic posted a bullish crossover within [..]

Technical Analysis – JP 225 index holds bullish tone despite pullback from all-time high

Posted on November 18, 2020 at 2:55 pm GMT

Japan 225 stock index’s (Cash) positive bias is ebbing from the recently unlocked all-time peak of 26,204. Yet, the aggressive upwards development from the beginning of September, off the 100-day simple moving average (SMA) and the Ichimoku cloud’s upper surface, maintains its positive backing. Despite the stalling in the blue Kijun-sen line, the rising red Tenkan-sen line and the advancing 50- and 100-day SMAs are promoting improvements in price. The short-term oscillators have yet to confirm dwindling positive momentum. The [..]

Technical Analysis – USDTRY posts some gains after sharp sell-off

Posted on November 18, 2020 at 1:37 pm GMT

USDTRY has rebounded off the 7.6062 support level, which holds inside the Ichimoku cloud, after the aggressive sell-off from the record high of 8.5764. The RSI is confirming the slight upside retracement, however; the MACD is still extending its bearish movement below its trigger and zero lines. Also, the pair remains underneath the 20- and 50-day simple moving averages (SMAs) and any advances above these lines could open the way for more gains. Immediate resistance could come from the 50- and 20-day SMAs at 7.8520 and 8.0655, [..]

Technical Analysis – Boeing’s stock enters bullish territory; neutral in medium term

Posted on November 18, 2020 at 12:23 pm GMT

Boeing’s stock price cheered on the back of encouraging vaccine news, jumping above the 200-day simple moving average (SMA) and the 200 level for the first time since June. The upside correction, however, was not strong enough to overcome June’s high of 233.86, keeping the stock within a neutral zone in the medium-term window. Still, the ascending MACD and the rising RSI, which has yet to reach a peak within the overbought territory, suggest that there is scope for more improvement in [..]

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