Technical Analysis

Technical Analysis – Apple stock stabilizes after fierce correction

Posted on September 23, 2020 at 11:28 am GMT

Apple’s stock suffered a sharp drop in September, falling by more than 20% from its all-time highs before finding support near the 104.30 level and the lower Bollinger band. The price then rebounded somewhat, crossing back above the 50-day simple moving average (SMA), which is encouraging as it suggests this might have been just a correction after an explosive move higher since March. Momentum oscillators paint a mixed picture, with the RSI reflecting the latest recovery but the MACD continuing [..]

Technical Analysis – Silver crashes by 12%; next support within 23.00-22.20 area

Posted on September 23, 2020 at 11:08 am GMT

Sliver staged a dramatic decline of 12% this week after failing to close above the 20-day simple moving average (SMA). The sell-off has also pushed the price below the 50-day SMA and near the bottom of the Ichimoku cloud for the first time in three months, bringing the case for a downtrend forward. The momentum indicators are painting a gloomier short-term picture as well. The MACD has extended its weakness into the negative area, while the RSI is forcefully falling towards its 30 [..]

Technical Analysis – AUDJPY turns lower amid risk aversion, but stays in uptrend

Posted on September 23, 2020 at 9:31 am GMT

AUDJPY has been losing ground in September, pressured by a general deterioration in market sentiment. The pair has crossed below its 50-day simple moving average (SMA) for the first time since April, which is worrisome, but not enough to shatter the broader bullish picture. The daily price structure still consists of higher highs and higher lows, keeping the trend cautiously positive. A move below 72.70 and the 200-day SMA is required to change that. Short-term oscillators echo the latest move [..]

Technical Analysis – EURGBP seems to be looking for more recovery after dip in Ichimoku cloud

Posted on September 23, 2020 at 9:28 am GMT

EURGBP has been trading bullish in the short-term picture after ascending from the 0.9080 support, pushing the price above the 0.9200 handle, the simple moving averages (SMAs), and the Ichimoku cloud. The short-term oscillators reflect a slightly positive bias. The MACD, in the positive area, has moved marginally above its red trigger line but remains close to zero, while the RSI has been fluctuating above its neutral mark, pointing slightly up. Additionally, the 20- and 40-period SMAs are ready to confirm a bullish crossover, suggesting that the upside structure may improve. To the upside, the important [..]

Technical Analysis – Gold’s bearish drive accelerates; downward risks grow

Posted on September 23, 2020 at 7:40 am GMT

Gold is gaining negative momentum beneath the simple moving averages (SMAs) and the Ichimoku cloud, as reflected in the declining Ichimoku lines. The commodities’ recent break out of the sideways market is also receiving backing from the evolving bearish tone in the SMAs. The short-term oscillators further convey the descent in the precious metal. The MACD, in the negative region, is weakening below its red trigger line, while the RSI has dipped into oversold territory. Additionally, the descending stochastic lines [..]

Technical Analysis – NZDUSD bears meet 0.6600; selling pressure may continue

Posted on September 23, 2020 at 7:22 am GMT

NZDUSD had a steep decrease over the previous couple of sessions, challenging the 0.6600 psychological level. The pair fell beneath the six-month ascending trend line, opening the way for a potential neutral bias in the short-term. The momentum indicators are confirming the recent selling interest as the RSI slipped beneath its 50 level, while the stochastic oscillator dropped in the oversold zone. The 20- and 40-day simple moving averages (SMAs) are turning slightly lower and the 200-day SMA is flattening [..]

Technical Analysis – USDJPY strengthens downtrend in medium-term; oversold in short-term

Posted on September 23, 2020 at 7:18 am GMT

USDJPY added a new low at 103.99 to its downward pattern before bouncing up to the 105.00 territory, turning the six-month picture more bearish. Meanwhile, the fast stochastics, which have confirmed a bullish cross below the 20 oversold level and are sloping upwards now, are suggesting that the ongoing upside correction may continue in the short-term. The price itself is also hinting that the recent downward move is overstretched after testing several times the lower Bollinger band, with the rising [..]

Technical Analysis – Tesla’s stock poised for more recovery ahead of battery event

Posted on September 22, 2020 at 1:43 pm GMT

Tesla’s stock has been nicely recovering the downfall that followed the company’s stock split in late August, crawling above the Ichimoku cloud in the four-hour chart and back into the 400 territory. Today’s battery event in California is expected to bring exciting news according to the CEO Elon Musk and questions are rising about whether the stock can rally towards its recent record high of 501.50. From a technical perspective, the short-term bias is viewed as positive, reflected by the [..]

Technical Analysis – EURCHF resonates sideways towards supportive trend line

Posted on September 22, 2020 at 1:03 pm GMT

EURCHF has adopted a fairly horizontal demeanour for nearly two-months now and appears to be approaching a medium-term ascending trend line pulled from the 1.0505 low. The confused simple moving averages (SMAs) further reflect the directionless tone that has grasped the pair. The 50-period SMA has crossed below the steadied 200-period SMA, while the 100-period SMA has become fixed above it. The short-term oscillators reflect conflicting signals in sentiment. The MACD has dropped beneath its red signal line and the [..]

Technical Analysis – GER 30 index records worst day since June; structure remains unchanged

Posted on September 22, 2020 at 12:03 pm GMT

The German 30 stock index (cash) crashed by almost 4% on Monday, recording its worst daily session since June. The index tumbled below its 20- and 50-day simple moving averages (SMA), which have been curbing downside corrections from early August, and landed near the bottom of the Ichimoku cloud. The RSI also followed the price lower, crossing below its 50 neutral mark, while the MACD deviated below its red signal line, both pointing to a weaker trading in the short-term. That [..]

Legal disclaimer: The material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instruments. XM accepts no responsibility for any use that may be made of these comments and for any consequences resulting in it. No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. The research and analysis does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it.

It has not been prepared in accordance with legal requirements designed to promote the independence of research, and as such it is considered to be marketing communication. Although we are not specifically constrained from dealing ahead of the publication of our research, we do not seek to take advantage of it before we provide it to our clients. We aim to establish, maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. We operate a policy of independence, which requires our employees to act in our clients’ best interests and to disregard any conflicts of interest in providing our services.

CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losing all of your invested capital, so please make sure that you fully understand the risks involved.

How can we help?

Live Chat Terms