Technical Analysis

Technical Analysis – GBPJPY locates foothold, stalling sell-off at 100-day SMA

Posted on September 11, 2020 at 8:29 am GMT

GBPJPY has discovered strong support from the 100-day simple moving average (SMA) of 135.54, located at the Ichimoku cloud’s lower boundary. The falling Ichimoku lines are backing the plunge in the price, while the 50- and 100-day SMAs aim to restore the pair in positive ground. The short-term oscillators are also displaying conflicting signals in momentum, hinting that price may shift into a sideways market for a while. The MACD is extending its dip under its red signal line, below [..]

Technical Analysis – USDCAD retests upper boundary of descending channel

Posted on September 11, 2020 at 7:07 am GMT

USDCAD has been developing within a descending movement since March 19 and is currently coupled within the 20- and 40-day simple moving averages (SMAs). After the rebound on the eight-month low of 1.2993, the price is trying to overcome the 1.3250 resistance. The technical indicators seem to be mixed as the MACD surpassed the trigger line in the negative territory, while the RSI is ticking south below 50. In the positive scenario, the pair could improve above the 40-day SMA, [..]

Technical Analysis – EURJPY surpasses 126.00 key level with strong momentum

Posted on September 10, 2020 at 12:53 pm GMT

EURJPY stretched its two-day rally above the 40- and 100-period simple moving averages (SMAs) moving towards the 126.00 handle. The stochastic seems to be losing momentum below the overbought territory, the RSI is pointing north in the positive area and the red Tenkan-sen is ticking up below the blue Kijun-sen, all signaling a more cautious trading in the short term. Should the price extend above the 126.00 number, resistance to upside movements could be initially detected around the 18-month high [..]

Technical Analysis – USDCHF consolidates below dictating SMAs

Posted on September 10, 2020 at 12:22 pm GMT

USDCHF has glided into a sideways structure where upside moves have been capped by the 50-day simple moving average (SMA). The recent flattening out of the now fused Ichimoku lines backs the recent ranging in the pair, while all SMAs maintain their forged bearish tone. The short-term oscillators reflect the pause in the market but convey a pick-up in negative sentiment. The MACD, although having strengthened above its red signal line in the negative region, looks set to fall back [..]

Technical Analysis – EURUSD flirts with SMAs following rebound on strong 1.1753

Posted on September 10, 2020 at 10:17 am GMT

EURUSD re-entered the 1.1800 area to touch the bearish cross within the 40- and 200-period simple moving averages (SMAs) in the 4-hour chart after bouncing near the key 1.1753 level. The technical indicators feeding prospects for a possible positive short-term trading. The RSI climbed above the 50 level, while the MACD continues to strengthen above its trigger line in the negative territory. A failure to overcome the SMAs could send the price down to 1.1753, a challenging point over the last month. Lower, [..]

Technical Analysis – WTI futures recede below 200-MA, denied passage over 43.69

Posted on September 10, 2020 at 8:35 am GMT

WTI oil futures have found some footing on the 100-day simple moving average (SMA) of 37.03, residing at the Ichimoku cloud’s lower band, following ineffective efforts to overrun the vital resistance border of 43.69. The flat Ichimoku lines and the converging SMAs appear to signal oxygen-deprived directional drive, which could nudge the price sideways. That said, the short-term oscillators also display conflicting signals in momentum. The MACD is extending a negative move below its red trigger line and the zero [..]

Technical Analysis – AUDUSD erases losses after hitting 40-day SMA

Posted on September 10, 2020 at 6:45 am GMT

AUDUSD has ticked up on Wednesday, paring the previous days’ losses, following the bounce off the 40-day simple moving average (SMA) at 0.7188. Currently, the price has been holding in an ascending movement since March 19, remaining above the Ichimoku cloud. The technical indicators are edging up as the stochastic posted a bullish crossover within its %K and %D lines after the rebound on the 20 level, while the RSI is flattening above the 50 level. Should the market extend [..]

Technical Analysis – GBPJPY plummets below SMAs; positive promise forming

Posted on September 9, 2020 at 3:54 pm GMT

GBPJPY seems to be developing some potential from the 136.61 to 136.73 section after an eight-day plunge from a six-month peak of 142.70. The bearish Ichimoku lines and the dip in the 50-period simple moving average (SMA) are backing further deterioration in the pair, below the 200-period SMA. Nonetheless, the short-term oscillators are displaying improvements in positive momentum. The MACD, in the negative region, is below its red trigger line but looks set to return above it, while the rising [..]

Technical Analysis – GBPJPY plummets below SMAs; promise forming

Posted on September 9, 2020 at 3:27 pm GMT

GBPJPY seems to be developing some potential from the 136.61 to 136.73 section after an eight day plunge from a six-month peak of 142.70. The bearish Ichimoku lines and the dip in the 50-period simple moving average (SMA) are backing further deterioration in the pair, below the 200-period SMA. Nonetheless, the short-term oscillators are displaying improvements in positive momentum. The MACD, in the negative region, is below its red trigger line but looks set to return above it, while the [..]

Technical Analysis – EURGBP skyrockets above MAs; bullish signals mature

Posted on September 9, 2020 at 1:00 pm GMT

EURGBP is struggling to climb above the 0.9118 barrier, as it attempts to prolong its one-week rally past a one-and-a-half-month high of 0.9130. The bullish Ichimoku lines are nurturing the ascent, which could also receive a boost from the approaching bullish crossover of the 100-period simple moving average (SMA) by the rising 40-period one. The short-term oscillators are also displaying strengthening positive momentum. The MACD, in the positive region, is increasing above its red signal line, while the RSI continues [..]

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