Technical Analysis

Technical Analysis – EURCHF ranges above Ichimoku cloud; positive signals grow

Posted on August 31, 2020 at 3:00 pm GMT

EURCHF appears to have found a foothold on the 50-day simple moving average (SMA) and near the bottom of the sideways market. The Ichimoku lines reflect the neutral tone, which has controlled the pair for the last one-and-a-half-months. Nevertheless, a nearing bullish crossover of the 200-day SMA by the 100-day one looks to be forming, as the 50- and 100-day SMAs hold their gradual positive incline. The short-term oscillators suggest that positive momentum may be picking up. The MACD remains [..]

Technical Analysis – EURAUD ticks slightly up after 5-week low

Posted on August 31, 2020 at 1:27 pm GMT

EURAUD is ticking higher over the last sessions after rebounding off the five-week low of 1.6150. The stochastic oscillator created a bullish crossover within its %K and %D lines, while the MACD is trying to jump above its trigger line in the 4-hour chart. However, the 20- and 40-period simple moving averages (SMAs) are still moving down. Should prices decline, immediate support could be found around 1.6150, an area which has provided as strong support on July 22. Then a leg below that level, the pair [..]

Technical Analysis – US 500 index logs new all-time high; bullish bias intact

Posted on August 31, 2020 at 12:36 pm GMT

US 500 index (Cash) broke above 3,396.64, accelerating over the last week towards a fresh all-time high of 3,526.31. The advancing Ichimoku lines reflect a sturdy positive tone above the cloud. Moreover, the recent bullish crossover of the 200-day simple moving average (SMA) by the rising 100-day one could further reinforce the positive picture. The short-term oscillators convey strong positive momentum, which is sponsoring the improving picture. The MACD, in the positive region, has moved above its red trigger line, [..]

Technical Analysis – USDJPY bears find support after Japan’s PM resignation

Posted on August 31, 2020 at 9:41 am GMT

USDJPY was hovering around the 50% Fibonacci retracement of the 112.21-101.17 downleg when the resignation of Japan’s prime minister Shinzo Abe boosted the safe-haven yen and triggered a steep sell-off in the pair on Friday. The price pulled back below its simple moving averages (SMA) on the four-hour chart, but the area between the 38.2% Fibonacci of 105.40 and the 105.00 level managed to halt the decline once again, with the pair pushing efforts to recover the lost ground on [..]

Technical Analysis – AUDUSD pulls back from 20-month high after bullish rally

Posted on August 31, 2020 at 8:31 am GMT

AUDUSD has come under renewed selling pressure after the aggressive jump to the 20-month peak of 0.7280 earlier today. Despite the latest pullback though, the pair has not posted a fresh lower low, which makes one hesitant to trust further declines in the longer-timeframe for now. Looking at momentum oscillators on the 4-hour chart, however, they suggest further declines may be on the cards in the short-term. The RSI is moving sideways in the overbought territory while the MACD is [..]

Technical Analysis – EURUSD although paused, conveys robust upside risks

Posted on August 31, 2020 at 7:41 am GMT

EURUSD maintains a solid bullish mode, despite appearing stuck within the confines of 1.1695 and 1.1965. The Ichimoku lines are broadcasting a positive bearing regardless of the recent stalling in the red Tenkan-sen line. Likewise, the progressing simple moving averages (SMAs) command a resounding bullish bias. Additionally, the short-term oscillators suggest positive momentum is improving. The MACD, deep in the positive section, is below its red signal line but looks set to reclaim it, while the RSI is nearing the [..]

Technical Analysis – Gold capped by SMA but retains bullish outlook

Posted on August 31, 2020 at 7:05 am GMT

Gold prices have been capped by the 20-day simple moving average (SMA) but have found strong support at the 1,900 psychological level. The sideways move over the last week is confirmed by the RSI indicator, which is flattening near the neutral threshold of 50, while the red Tenkan-sen and the blue Kijun-sen lines are moving horizontally as well. However, the MACD oscillator is trying to strengthen its momentum below its trigger line and above the zero level. A successful jump [..]

Technical Analysis – NZDUSD’s ascent quickens; bullish signals enhance bias

Posted on August 28, 2020 at 11:45 am GMT

NZDUSD is fuelling the ascent from the 0.6487 level with its thrust above the high of 0.6690. The positive picture was aided by the strong bullish signals present in the rising Ichimoku lines and the short-term oscillators. Additionally, the approaching bullish crossover of the 100-period simple moving average (SMA) by the 50-period one may further boost the positive picture. The short-term oscillators reflect strengthening positive momentum. The MACD, deep in the positive section, is accelerating above its red signal line, [..]

Technical Analysis – GBPUSD edges below 8-month peak; holds in neutral zone

Posted on August 28, 2020 at 9:15 am GMT

GBPUSD surges to an eight-month high around 1.3290 on Friday, trying to overcome the consolidation area that has been holding since August 13. Looking to the short-term oscillators, the MACD and the RSI promote slight improvements as they are strengthening their momentum, despite diminished directional momentum. Yet, the increasing 20- and 40-period simple moving averages (SMAs) maintain a bullish tone. Should buyers drive above the 1.3290 strong resistance, they could encounter initial strengthened resistance from the 1.3513 peak, registered on [..]

Technical Analysis – GBPJPY hits a snag trying to resume positive trajectory

Posted on August 28, 2020 at 7:39 am GMT

GBPJPY is gaining ground, currently striving to close above 140.82 to clearly resume the climb. The steady incline is also sponsored by the progressing Ichimoku lines and the advancing 50- and 100-day simple moving averages (SMAs). Additionally, an approaching bullish crossover of the 200-day SMA by the 50-day one may fortify the positive outlook. The short-term oscillators further support an improving picture. The MACD, some distance in the positive area, is above its red signal line, while the RSI is [..]

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