200-day moving average

Technical Analysis – Silver more bullish after soaring to 11-month high

Posted on April 20, 2016 at 1:34 pm GMT

Silver rallied to a fresh 11-month high of 17.21 on Wednesday, extending its year-to-date gains to 23%. Prices have soared sharply above the Ichimoku cloud and the tenkan-sen and kijun-sen lines are positively aligned. The 200-day moving average has also started trending up following the bullish crossover with the 50-day moving average, and this underlines the positive outlook. The current strong upside momentum could hold for a while longer according to the MACD chart, which does not yet appear to [..]

Technical Analysis – EURUSD maintains positive bias in ascending channel

Posted on April 1, 2016 at 8:34 am GMT

EURUSD has retraced about 75% of the downtrend from the August 2015 high of 1.1713 to the December 2015 low of 1.0521 after crossing above the 1.14 handle on Thursday. The pair has been setting higher highs and higher lows since the December trough to move in an ascending channel. The 50-day moving average recently crossed above the 200-day moving average in what is a bullish signal but the flatlining 200-day moving average puts into question the strength of the [..]

Technical Analysis – USDCAD looking bearish below 200-DMA

Posted on March 21, 2016 at 11:56 am GMT

USDCAD has dropped below the 200-day moving average for the first time since September 2014, as it continues its retreat from the 13-year high of 1.4689 high it set back in January. Prices recovered above the 1.30 handle today but they remain sharply below the Ichimoku cloud, which is underlining the negative outlook. RSI remains bearish slightly above oversold levels and the MACD does not yet appear to have bottomed out below 0, suggesting the current downward bias has yet [..]

Technical Analysis – NZDUSD drops below 0.67 but holds neutral bias

Posted on March 10, 2016 at 8:12 am GMT

NZDUSD dropped below the 0.67 handle yesterday after a sharp sell-off following a surprise rate cut by the Reserve Bank of New Zealand. The pair extended its losses into Thursday to cross below the 200-day moving average but found support at the top of the Ichimoku cloud around 0.6615 where prices rebounded. The stochastics are trending down and have fallen below 50 so further losses in the near term are possible. If prices continue to decline, the next support would [..]

Technical Analysis – USDCHF finds support at 200-DMA on bearish shift

Posted on February 9, 2016 at 3:12 pm GMT

USDCHF extended its losses for a seventh day, dropping to 3½-month lows. The pair found support at the 200-day moving average where it bounced off a low of 0.9717. The pair has retraced about 55% of the August-November upleg from 0.9257 to 1.0327, taking it below the Ichimoku cloud in the process. Momentum indicators are pointing to strong downside bias but with RSI just above the oversold level and the stochastics already in that territory, further losses may be limited. [..]

Technical Analysis – NZDUSD rises above 200-DMA in year-end rally

Posted on December 29, 2015 at 1:58 pm GMT

NZDUSD climbed above the 200-day moving average for the first time since August 2014 as the pair extends its year-end rally. Prices hit a 2½-month high of 0.6880 and moved further above the Ichimoku cloud. The upside bias for the near term remains strong with both RSI and the stochastics still climbing. But there may be limited scope for further gains as the stochastics are firmly in overbought territory. The nearest resistance to watch out for is the October 15 [..]

Technical Analysis – US500 Futures index reclaims 2000 level in pre-Christmas rally

Posted on December 24, 2015 at 11:34 am GMT

The US-500 futures index posted an impressive 2.9% rally in the first three days of the week, taking it back above the 2000 level. The index slipped below the psychologically important 2000 mark following the Fed’s first rate hike in nearly a decade on December 16. The rally has taken prices just above the Ichimoku cloud but have met resistance at the 200-day moving average around 2055. RSI is looking neutral in the daily chart but the stochastics are still [..]

Technical Analysis – German stock futures find resistance below 200-day MA

Posted on November 11, 2015 at 2:45 pm GMT

German stock futures (GER30) have rallied about 18% since the September 29 low of 9299.80. However, prices remain south of the 200-day moving average, finding resistance just below it at 11056. The index remains 12% down from its all-time high of 12433.40 it set on April 13. The near term bias is looking bullish with RSI holding strongly above 50 and the tenkan-sen and kijun-sen lines positively aligned above the Ichimoku cloud. The next resistance for GER30 is 11100. A [..]

Technical Analysis – USDJPY climbs past 200-DMA; bias is bullish

Posted on November 5, 2015 at 9:40 am GMT

USDJPY was positive for a fourth day on Thursday as it moved further above the 200-day moving average. The pair appears to be targeting 122 and hasn’t traded above that handle since the ‘Black Monday’ nosedive on August 24. The momentum indicators are strong with both RSI and the stochastics in positive territory and trending upwards. The near-term bias is therefore very bullish. Prices are likely to find resistance at 122 if they continue to push upwards. A break above [..]

Technical Analysis – US oil futures hold above cloud; outlook neutral

Posted on November 3, 2015 at 2:11 pm GMT

US oil futures held within its four-day trading range after moving above the Ichimoku cloud following the strong rally seen on October 28. RSI remains neutral just above 50 but the stochastics are in overbought territory, indicating the current momentum is unlikely to hold in the near term. Prices have found support from the 50-day moving average, while the kijun-sen line is providing resistance at 46.74. In the broader picture, prices would need to challenge the 50% of the Fibonacci [..]