Technical Analysis

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 [..]

Technical Analysis – GBPJPY holds within squeezed Bollinger band; lacks direction

Posted on November 18, 2020 at 10:14 am GMT

GBPJPY has been moving in a horizontal trajectory over the last week, failing to improve the rebound on the 137.60 support level. The Bollinger band is squeezing, suggesting a neutral bias, and the momentum indicators are flattening. The MACD is holding near the zero level, while the RSI is standing around the 50 threshold. A successful climb above the 40-period simple moving average (SMA) at 138.50 could take the pair towards the 138.85 barrier. More gains could lead the bulls until [..]

Technical Analysis – USDJPY’s compass points south guided by 100-day SMA

Posted on November 18, 2020 at 8:50 am GMT

USDJPY is descending, having already logged four downward red candles in previous sessions, after retreating from the upper Bollinger band and 100-day simple moving average (SMA). The pair’s return underneath the 50-day SMA and the mid-Bollinger band are being endorsed by the dominant bearish tone of the SMAs and the restrictive trend line, drawn from the 111.71 top. The short-term oscillators are mirroring the negative price action, backing the bearish structure below the downward sloping trend line. The MACD, in [..]

Technical Analysis – Gold declines in a neutral picture in medium term

Posted on November 18, 2020 at 8:31 am GMT

Gold prices are in a declining mode after the selling move below the 1,900 psychological level on November 13. However, the technical indicators are suggesting an upside pullback in the short-term. The RSI is pointing up approaching the 50 level, while the stochastic created a bullish crossover within the %K and %D lines near the oversold zone. If the price ticks higher, immediate resistance could come from the 20-period simple moving average (SMA) at 1,887 ahead of the lower surface [..]

Technical Analysis – NZDUSD stretches uptrend to a 20-month high; tests key barrier

Posted on November 18, 2020 at 7:53 am GMT

NZDUSD bulls picked up steam to a 20-month high of 0.6917 following the close above 0.6760, where the frequently tested 61.8% Fibonacci retracement of the long 0.7557 – 0.5468 downleg is placed. The recent bullish action could fade in the short term as the price is currently challenging a key ceiling from 2019 and the RSI seems unable to post a fresh peak above its 70 overbought mark. The MACD also looks to be losing momentum within the positive area, [..]

Technical Analysis – EURCHF consolidates as aggressive ascent remains muted

Posted on November 17, 2020 at 4:53 pm GMT

EURCHF has been stuck for just over a week, creeping sideways following the slingshot off the 1.0679 level and over the simple moving averages (SMAs). The flattening Ichimoku lines are reflecting the stall in positive sentiment, while the soaring 50- and 100-period SMAs promote further advancing in the pair. The short-term oscillators communicate a period of paused positive momentum. The MACD and the RSI are presenting weak demeanours, with the former hovering below its red trigger line in the positive [..]

Technical Analysis – EURCHF consolidates as aggressive ascent muted

Posted on November 17, 2020 at 4:31 pm GMT

EURCHF has been stuck for just over a week creeping sideways towards the Ichimoku cloud, following a slingshot off the 1.0679 level and over the simple moving averages (SMAs). The flattening Ichimoku lines are reflecting the stall in positive sentiment, while the soaring 50- and 100-period SMAs promote further advancing in the pair. The short-term oscillators communicate a period of paused positive momentum. The MACD and the RSI are presenting weak demeanours, with the MACD hovering below its red trigger [..]

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