Technical Analysis

Technical Analysis – AUDUSD retains bullish bias, refuels ascent by driving above MAs

Posted on August 24, 2020 at 1:49 pm GMT

AUDUSD retained potency of its positive structure, prodding back above the congested, gradually rising 50- and 100-period simple moving averages (SMAs) and the Ichimoku cloud, around the 0.7177 – 0.7190 zone. The simple moving averages (SMAs) communicate a steady confidence in the pair with their bullish tone still intact. However, the Ichimoku lines’ calm tone reflects a somewhat stalling behaviour within the pair. Glancing at the short-term oscillators, they suggest some improvement in positive momentum. The MACD, in the negative [..]

Technical Analysis – Gold consolidates above 1,900, eyeing peaks again

Posted on August 24, 2020 at 10:08 am GMT

Gold is edging sideways above the 1,900 handle, possibly forming a triangle pattern with the price targeting the upper bound of the triangle around 1,970. The bullish simple moving averages (SMAs) are maintaining a broader positive tone, while the short-term oscillators are helping keep the positive outlook alive. The MACD is holding in the positive region although below its red signal line, while the RSI floats above the 50 threshold, looking to improve. Furthermore, the negative momentum in the stochastic [..]

Technical Analysis – EURUSD retains positive tone but negative signals apply strain

Posted on August 24, 2020 at 7:30 am GMT

EURUSD maintains a bullish tone despite the pullback from the fresh 27-month peak of 1.1965. The Ichimoku lines sustain a bullish momentum some distance above the Ichimoku cloud, while the advancing simple moving averages (SMAs) dictate a predominant positive bearing. That said, the short-term oscillators reflect a negative picture however and momentum seems to be shifting. The MACD has weakened below its red trigger line but remains far in the positive region, while the RSI is picking up after slipping [..]

Technical Analysis – EURUSD retains positive risks; negative signals apply strain

Posted on August 24, 2020 at 7:00 am GMT

EURUSD maintains a bullish tone despite the pullback from the fresh 27-month peak of 1.1965. The Ichimoku lines sustain a bullish momentum some distance above the Ichimoku cloud, while the advancing simple moving averages (SMAs) dictate a predominant positive bearing. That said, the short-term oscillators reflect a negative picture however momentum seems to be shifting. The MACD has weakened below its red trigger line but remains far in the positive region, while the RSI is picking up after slipping near [..]

Technical Analysis – US 30 index hits a snag, ascent dwindles into cloud

Posted on August 21, 2020 at 9:57 am GMT

US 30 stock index (Cash) drifted into the Ichimoku cloud and under the now capping 50-period simple moving average (SMA) after reaching a 5½-month high of 28,154. The waning positive momentum in the index is sponsored by the negative tone of the Ichimoku lines and, specifically, the fading red Tenkan-sen line. The short-term oscillators further support the negative move in the pair. The RSI slipped below its 50 neutral mark, while the stochastic oscillator cemented its bearish demeanour, breaking below [..]

Technical Analysis – NZDUSD rises after the slip to 7-week low

Posted on August 21, 2020 at 9:47 am GMT

NZDUSD reached oversold levels according to the stochastic oscillator and reversed higher after it hit a new seven-week low at 0.6487. The RSI is also returning higher in the negative territory. While the aforementioned technical indicators continue to pick up speed, mirroring the market’s upside retracement in the very short-term the 20- and 40-period simple moving averages (SMAs) are trying to tick higher increasing their distance above the price action. In case the pair changes its short-term direction to the upside, the bulls will probably challenge [..]

Technical Analysis – USDCAD transmits negative prognosis, weakening prevails

Posted on August 21, 2020 at 6:32 am GMT

USDCAD appears to have declared a negative route below the descending line drawn from the 50-month peak of 1.4667. The bearish tone of the 50- and 100-day simple moving averages (SMAs) and the falling mid-Bollinger band (20-day SMA), which has merged with the diagonal line, further aid the broader negative outlook. The short-term oscillators are uttering temporary mixed signals in directional momentum. The MACD, in the negative region, is marginally above its red signal line as they both follow a [..]

Technical Analysis – GBPJPY moves horizontally; bullish bias

Posted on August 21, 2020 at 6:25 am GMT

GBPJPY has been holding in a horizontal trajectory over the last week following the bounce off the 24-week peak of 140.19. However, the price is still developing above the five-month ascending trend line. Technically, the RSI indicator is moving marginally up in the positive area, while the stochastic is posting a bullish crossover within the %K and %D lines. More upside movements could take the price towards the immediate 140.90 resistance before creating a steeper increase until the 144.95 barrier, taken from the peak [..]

Technical Analysis – Apple’s relentless rally continues, sets new records

Posted on August 20, 2020 at 1:43 pm GMT

Apple’s stock touched a new record high of 468.5 this week, continuing its relentless five-month rally, with the price having more than doubled since its March lows. The chart is as bullish as it can be, with an uninterrupted structure of higher highs and higher lows, and the price action taking place above all its simple moving averages (SMAs), which are pointing higher. Momentum oscillators mostly paint a positive picture as well. The MACD is above zero and over its [..]

Technical Analysis – EURJPY undergoes downside pressures; uptrend confronted

Posted on August 20, 2020 at 1:33 pm GMT

EURJPY is currently suffering negative stresses, which are attempting to destabilize the steady ascent from the 119.30 low. The price has retreated past the 50-period simple moving average (SMA) at 125.67 and below the Ichimoku cloud, until the 100-period SMA, strengthening negative momentum, something also displayed in the short-term oscillators. The MACD is fading below its red signal line and the zero mark, while the RSI is receding below the diagonal line in bearish territory. Furthermore, the stochastic oscillator has [..]

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