Technical Analysis

Technical Analysis – US 500 indices’ positive bearing intact; momentum waning slightly

Posted on November 30, 2020 at 2:50 pm GMT

US 500 index (Cash) is consolidating just below its newly formed all-time high of 3,674, finding some stability from its red Tenkan-sen line, marginally below at 3,601. The simple moving averages (SMAs) are maintaining an unbroken bullish tone endorsing further advances. However, the flattening out of the blue-Kijun-sen line and the stalling in the climb of the red Tenkan-sen line, remain signals for near-term fading in the pair. The short-term oscillators suggest some easing in upward momentum. The MACD is [..]

Technical Analysis – EURAUD heads up but still lacks direction in short-term

Posted on November 30, 2020 at 2:22 pm GMT

EURAUD is ticking higher in a horizontal trajectory trapped between the 1.6340 resistance and the 1.6144 support. A paused state of directional momentum is reflected in the Ichimoku lines, while the price rests around the upper surface of the cloud. The mixed signals in the short-term oscillators further support the stall in the price. The MACD has barely inched above its red trigger line in the negative region, while the stochastic oscillator is entering the overbought territory. To the upside, [..]

Technical Analysis – AUDUSD’s bullish signals remain alive, despite ebbing

Posted on November 30, 2020 at 10:13 am GMT

AUDUSD is struggling to withdraw under the red Tenkan-sen line at 0.7380, after receding ahead of the critical 25-month peak of 0.7413. Positive momentum seems to be taking a hit, as the red Tenkan-sen line is flattening out. However, the upwards dictating demeanours of the simple moving averages (SMAs) are continuing to defend the bullish structure. The short-term oscillators are reflecting strengthening negative momentum. The MACD, in the positive region, is zig zagging around its red trigger line, while the [..]

Technical Analysis – USDJPY rallies above 104.00; neutral-to-bearish in near-term

Posted on November 30, 2020 at 9:38 am GMT

USDJPY surged above the 20- and 40-period simple moving averages (SMAs), flirting with the Ichimoku cloud and surpassing the 104.00 psychological level. The RSI is sloping north, resting around the 50 level, though the MACD oscillator is still moving sideways in the negative territory in the 4-hour chart. If buying interest picks up, early tough resistance could occur at the upper surface of the cloud around 104.66. A violation of this level may shoot the pair to challenge 104.76 and [..]

Technical Analysis – EURUSD claims 3-month high; near a critical make or break point

Posted on November 30, 2020 at 8:59 am GMT

EURUSD’s refusal to dive below the 1.1600 floor for the second time has developed into a bullish wave in November, pushing the price comfortably into the 1.1900 area and to an almost three-month high of 1.1975 on Monday. From a technical perspective there is scope for additional improvement in the short run as the price is deviating above the Ichimoku cloud and its 20- and 50-day simple moving averages (SMAs). In other encouraging signals, the MACD continues to gain momentum [..]

Technical Analysis – Gold tumbles to 5-month low; holds in descending channel

Posted on November 30, 2020 at 8:06 am GMT

Gold prices plummeted to a fresh five-month low of 1,764.34 earlier today, reaching the 50.0% Fibonacci retracement level of the up leg from 1,451 to 2,074.89. Currently, the market is still developing within a downward sloping channel since it hit a record high at 2,074.89. According to the RSI, the negative momentum is continuing as it is holding in the oversold zone and is pointing south. However, the stochastic oscillator created a bullish crossover within its %K and %D lines [..]

Technical Analysis – US 30 index retains bullish bias despite minor pullback

Posted on November 27, 2020 at 1:40 pm GMT

US 30 stock index (Cash) has retreated ever so slightly from its freshly logged all-time-high of 30,213. Positive sentiment seems to be taking a breather as the index, to some degree, is nudging sideways. The bullish 50- and 100-day simple moving averages (SMAs) could boost the price, sending the index to uncharted peaks. The short-term oscillators are transmitting mixed messages in directional momentum. The MACD, in the positive region, is holding above its red trigger line, while the stochastic oscillator [..]

Technical Analysis – GBPJPY maintains neutral bias as momentum loses steam

Posted on November 27, 2020 at 9:18 am GMT

GBPJPY appears to have been again denied passage above the 140.00 mark, which happens to be the 76.4% Fibonacci retracement of the down leg from 144.94 to 124.00, following a bounce off the 100-day simple moving average (SMA). The sliding 200-day SMA and the horizontal Ichimoku lines aid a pause in positive price action, while the upward incline of the 50- and 100-day SMAs, conveys strength for advances. At this time, the short-term oscillators’ are exhibiting mixed signals in directional [..]

Technical Analysis – GBPJPY maintains aimless bias, as momentum loses steam

Posted on November 27, 2020 at 9:08 am GMT

GBPJPY appears to have been again denied passage above the 140.00 mark, which happens to be the 76.4% Fibonacci retracement of the down leg from 144.94 to 124.00, following a bounce off the 100-day simple moving average (SMA). The slipping 200-day SMA and the horizontal Ichimoku lines aid a pause in positive price action, while the upward incline of the 50- and 100-day SMAs, conveys strength for advances. At this time, the short-term oscillator’s exhibit mixed signals in directional momentum. [..]

Technical Analysis – NZDUSD flies to 29-month high above 0.7000

Posted on November 27, 2020 at 8:55 am GMT

NZDUSD has been developing near to multi-month highs of 0.7028, continuing the powerful buying interest that started from 0.6586. The RSI indicator is hovering around the overbought region, while the MACD is strengthening its movement in the bullish area but marginally beneath the trigger line. The simple moving averages (SMAs) are endorsing the upside tendency as all of them are ticking higher in the near term. A jump above today’s high could open the way for the 0.7060 resistance, that being the [..]

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