Technical Analysis

Technical Analysis – EURJPY struggles below 18-month high; weak positive bias

Posted on December 15, 2020 at 7:49 am GMT

EURJPY is struggling to gain positive momentum after its fast run above the descending channel and the 125.07 barrier, stalling around the 126.70 resistance. The downside reversal for the 70 level in the RSI and the slowdown in the MACD oscillator justify the diminishing buying pressure, though, both remain well above their neutral thresholds keeping the short-term term risk skewed to the upside. In trend indicators, the bullish cross within the 20- and 40-day simple moving averages is still an [..]

Technical Analysis – US 500 index gaps higher; holds all-time-high in its scope

Posted on December 14, 2020 at 3:48 pm GMT

The US 500 index (Cash) gapped above the 50-period simple moving average (SMA) today on the four-hour chart, re-establishing a positive bearing towards the upper Bollinger band and the recent all-time high of 3,715. The dictating bullish bearing in the SMAs remains robust even though the 50-period SMA’s upward pace is marginally easing. The short-term oscillators are reflecting a pickup in positive momentum. The MACD, above its red trigger line, is pushing over its neutral threshold, while the RSI is [..]

Technical Analysis – US 500 index gaps higher; holds ATH in its scope

Posted on December 14, 2020 at 3:05 pm GMT

The US 500 index (Cash) gapped above the 50-period simple moving average (SMA) today re-establishing a positive bearing towards the upper Bollinger band, near the recent all-time high of 3,715. The dictating bullish bearing in the SMAs remains robust even though the 50-period SMA’s upward pace is marginally easing. The short-term oscillators are reflecting a pickup in positive momentum. The MACD above its red trigger line is pushing over its neutral threshold, while the RSI is trying to improve in [..]

Technical Analysis – USDJPY pulls back to familiar support zone; bias negative

Posted on December 14, 2020 at 11:33 am GMT

USDJPY bears set a trap around the 104.00 level early on Monday, pressing the price towards the familiar 103.70 – 103.64 support area. The technical picture endorses the descent in the price as the RSI heads towards its 30 oversold level, the stochastics are reversing south and the MACD strengthens its negative momentum below its signal and zero lines. Yet, the 103.70 – 103.64 zone has been quite defensive to bearish actions since mid-November and whether it would abandon its [..]

Technical Analysis – AUDUSD’s sturdy uptrend unbroken; bullish signals grow

Posted on December 14, 2020 at 10:49 am GMT

AUDUSD is confronting the fresh near 30-month high of 0.7571, attempting to revive the upside trajectory, despite the mini-pullback in the pair. The bullish Ichimoku lines are sponsoring positive momentum, while the advancing simple moving averages (SMAs) are defending the predominant positive picture. The short-term oscillators seem to be favouring an upside scenario. The MACD, some distance in the positive region, is fairly in-line with the flattening red trigger line, while the RSI looks to be in the process of [..]

Technical Analysis – EURUSD’s neutral mode favors bullish trend extension

Posted on December 14, 2020 at 9:04 am GMT

EURUSD has been consolidating gains within the 1.2077-1.2150 restrictive area since rising to a two-year high of 1.2176, kindly supported by the red Tenkan-sen line. Despite the neutral mode, the pair does not seem to be in a troubled zone, but appears to be in a pause after a steep rally that will likely see a continuation towards the 1.2240 barrier if the 1.2150 resistance gives way. The upper surface of the ascending channel would be another important obstacle around 1.2300 if [..]

Technical Analysis – Gold hovers near 38.2% Fibo in descending channel

Posted on December 14, 2020 at 8:05 am GMT

Gold prices have been trading around the 38.2% Fibonacci retracement level of the up leg from 1,451 to 2,074.89 at 1,836 and the 20-day simple moving average (SMA) and have been in a descending channel since August 6. According to the technical indicators, the stochastic oscillator is dropping towards the oversold area, while the RSI is pointing slightly down in the negative territory. The moving averages are in a neutral-to-bearish mode, suggesting that the next move in prices looks more likely [..]

Technical Analysis – NZDUSD’s bullish bias durable despite consolidation

Posted on December 11, 2020 at 1:46 pm GMT

NZDUSD is retreating from its freshly plotted 31½-month high of 0.7113 in the four-hour chart, as positive drive seems to have taken the back seat, something also reflected in the directionless Ichimoku lines. That said the solid bullish bearing of the simple moving averages (SMAs) is protecting the uptrend. The short-term oscillators are communicating conflicting signals in directional momentum. The MACD, above zero and its red trigger line, is conveying improvements in price, while the recently turned bearish stochastic oscillator, [..]

Technical Analysis – GBPAUD extends downtrend to fresh 2-year lows

Posted on December 11, 2020 at 1:29 pm GMT

GBPAUD is looking for a close near a fresh two-year low of 1.7424 and below the 1.7540 base, which triggered September’s upward correction and stretched July’s appreciation to a four-month high of 2.0845, after Thursday’s steep decline. The Stochastics and the RSI, however, have yet to ovecome oversold conditions as the former is heading towards 20 and the latter continues to point downwards below 30. Still, the recent squeeze in the Bollinger bands and the recent closure below them, hint [..]

Technical Analysis – GBPAUD revives downtrend as bearish bias holds

Posted on December 11, 2020 at 1:19 pm GMT

GBPAUD is looking for a close below the 1.7540 base, which triggered September’s upward correction and stretched July’s appreciation to a four-month high of 2.0845, after Thursday’s steep decline. The Stochastics and the RSI, however, have yet to ovecome oversold conditions as the former is heading towards 20 and the latter continues to point downwards below 30. Still, the recent squeeze in the Bollinger bands and the recent closure below them, hint that the bulls could be around the corner. [..]

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