Technical Analysis

Technical Analysis – EURAUD posts ‘death cross’, yet remains quiet

Posted on July 1, 2020 at 9:47 am GMT

EURAUD recently recorded a so-called death cross, meaning that the 50-day simple moving average (SMA) crossed below the 200-day one, which is a negative trend signal. That being said, the pair continues to trade very quietly between 1.6530 and 1.6020 since early June, suggesting that the very short-term outlook looks neutral, even if the broader one is negative. Short-term oscillators paint a mildly bearish picture, suggesting that the next move may be lower. The RSI is below 50 already and [..]

Technical Analysis – Gold’s strength prevails; defeats all obstacles

Posted on July 1, 2020 at 8:14 am GMT

Gold’s brake pads seem to have no effect on the triumphing bullish structure, which has hiked to an almost 8 year high of 1,788. The commodity’s overwhelming climb is tackling the 1,788 mark, that being the 123.6% Fibonacci extension of the down leg from 1,765 to 1,670. The pickup in positive momentum is also reflected in the strengthening Ichimoku lines. Glancing at the short-term oscillators, they too aid an improving picture suggesting upcoming advances. The MACD is in the positive [..]

Technical Analysis – NZDUSD capped by 20-day SMA; indicators appear mix

Posted on July 1, 2020 at 7:19 am GMT

NZDUSD is capped by the 20-day simple moving average (SMA) and the red Tenkan-sen line in the short-term and has been moving sideways over the past three weeks. The momentum indicators are facing contradicting signals as the RSI is pointing marginally up in the positive region, while the MACD oscillator is standing beneath its trigger line and is losing ground. If the price continues to fall, immediate support would come coming from the 0.6375 barrier and the 23.6% Fibonacci retracement [..]

Technical Analysis – USDCHF moves sideways, but negative trend still in play

Posted on July 1, 2020 at 7:04 am GMT

USDCHF has been consolidating in recent weeks, staying confined within a narrow sideways range between 0.9550 and 0.9420 since mid-June. Nonetheless, the broader price structure still consists of lower peaks and lower troughs, with the pair also trading below a downtrend line drawn from the peaks of March. Short term momentum oscillators are near their neutral levels, echoing the recent lack of direction. The RSI is just below 50 and seems to have flatlined, while the MACD is basically at [..]

Technical Analysis – USDJPY needs support near 107.50 to sustain strength

Posted on July 1, 2020 at 6:49 am GMT

USDJPY bulls entered the 108.00 area on Wednesday after striking their fifth consecutive daily gain on Tuesday despite Fauci’s virus warnings and the Fed’s cautious tone. Previously, the pair bottomed twice around 105.97, and a rally above the 109.60 resistance is now required to switch the neutral status in the three-month picture to a positive one. But currently technical signals for such a noticeable upside move are looking weak; the RSI although above its 50 neutral mark seems unable to [..]

Technical Analysis – Apple continues powerful uptrend, stays near records

Posted on June 30, 2020 at 2:58 pm GMT

Apple’s stock reached a new all-time high of 372.16 last week, continuing its monster bull run above a three-month upside support line and above all its simple moving averages (SMAs), which are also sloping upwards. Momentum oscillators endorse the positive picture. The RSI is well above 50 and is pointing higher, while the MACD – already deep in positive territory – looks ready to cross above its red trigger line soon. If buyers manage to pierce above the record high [..]

Technical Analysis – EURCHF hits a resistance wall, plunges below 200 MA

Posted on June 30, 2020 at 11:43 am GMT

EURCHF today encountered heavy resistance from the 100-period simple moving average (SMA) residing at the Ichimoku cloud’s upper band at 1.0700. As a result the price has retreated back below the 200-period SMA and has strengthened a short-term neutral-to-negative picture. The Ichimoku lines reflect the somewhat recent edging sideways in the price, while the short-term oscillators promote further declines. The stochastic oscillator is negatively charged after a bearish crossover by the %K line was completed out of the overbought region. [..]

Technical Analysis – AUDJPY consolidates, but picture still positive

Posted on June 30, 2020 at 11:19 am GMT

AUDJPY has been confined within a narrow range in recent weeks, between 74.40 and 72.70. Yet, the bigger picture is still bullish as the pair remains above a three-month upside support line and the price structure still consists of higher peaks and higher troughs. What’s more, the 50-day simple moving average (SMA) looks ready to cross above the 200-day one, forming a so-called ‘golden cross’, which would be another positive sign. Short-term oscillators don’t tell us much about the next [..]

Technical Analysis – AUDJPY consolidates, but picture still positive

Posted on June 30, 2020 at 11:11 am GMT

Technical Analysis – WTI futures fails to improve positive mode; neutral in very short-term

Posted on June 30, 2020 at 9:04 am GMT

WTI crude oil futures have been trading within a narrow range, inside the Bollinger band confirmed by the momentum indicators. The RSI is moving sideways in the positive region near the 50 level, while the MACD is flattening marginally above trigger and zero lines. The flat movement is in line with the 40-period simple moving average (SMA), which acts as support for the bears. If the price jumps above the upper Bollinger band, immediate resistance could appear at the 15-week [..]

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