200-day moving average

Technical Analysis – US500 stock futures rise above 200-DMA; bias turns bullish

Posted on October 26, 2015 at 3:03 pm GMT

US500 stock futures rose above the 200-day moving average for the first time since August 20, recouping its year-to-date losses in the process. The index has been rallying since the end of September and has retraced more than 61.8% of the July-August downleg. The strong upside momentum has faltered in the hourly RSI and stochastics charts but remains positive in the daily charts suggesting the rally may hold for a while longer in the near term. With prices sharply above [..]

Technical Analysis – GBPAUD stuck below cloud with downside bias

Posted on October 16, 2015 at 2:25 pm GMT

GBPAUD continued its attempt to claw back losses from its recent correction. But with prices below the Ichimoku cloud and the 50-day moving average, the near term outlook is slightly bearish until additional confirmation that the longer-term uptrend will resume. Also, RSI has yet to cross above 50, suggesting the pair has yet to gain enough positive momentum for a stronger rally. The bottom of the cloud is the nearest resistance level at 2.1328. A rise into the cloud would [..]

Technical Analysis – Gold surges past 1150; outlook mixed

Posted on October 9, 2015 at 1:43 pm GMT

Gold prices rallied on Friday to rise above 1150 to a two-week high as bullion took advantage of a weakened outlook for the dollar. Prices have risen above the Ichimoku cloud but remain well below the 200-day moving average and within the narrowing trading range that’s been forming since July, giving a somewhat mixed outlook for the medium term. The 61.8% of the Fibonacci retracement level of the May-July downleg is the key resistance level at 1170.50 that gold needs [..]

Technical Analysis – EURUSD consolidating around 1.12; bias is neutral

Posted on October 6, 2015 at 1:26 pm GMT

EURUSD continued trading in a range today, fluctuating around the key 1.12 level. The intra-day upside bias is strong but this is not likely to be sustainable in the near term. RSI is only slightly above 50 and the stochastics are falling. Looking at the broader view, prices remain within the upward trending channel that’s been forming since mid-March. The positive trend is supported by the bullish crossover of the 50-day moving average with the 200-day moving average. But the [..]

Technical Analysis – USDJPY still consolidating around 120

Posted on October 5, 2015 at 1:23 pm GMT

USDJPY continues to move in a narrowing range around 120, forming a pennant since the August 24 slump. This may signal a breakout is nearing for USDJPY to resume its downtrend, however prospects of further quantitative easing by the Bank of Japan would contradict this. With RSI and the stochastics both rising, the near term bias is positive, though the upward momentum is a weak one as RSI has yet to climb above 50. Prices are likely to find resistance [..]

Technical Analysis – GBPJPY dips back below 200-Day MA; outlook bearish

Posted on September 28, 2015 at 8:50 am GMT

GBPJPY has turned negative again after reversing the rally that took it above the 200-day moving average. The September 17 high of 188.29 remains on the upper end of the current trading range it has established since the end of August. Prices have been trading around the 61.8% of the Fibonacci retracement level of the April-June upleg at 182.89 in the past three days. The nearest resistance is the 50% Fibonacci retracement level at 185.35, just above the 200-day moving [..]

Technical Analysis – EURGBP dips below 200-day MA but bullish outlook holds

Posted on September 21, 2015 at 1:35 pm GMT

EURGBP fell sharply for a second day taking it closer to the immediate support level provided by the Kijun-sen line at 0.7224. The intra-day bias is looking increasingly bearish with RSI and the stochastics dipping into oversold territory in the hourly chart. The pair had been consolidating between 0.7395 and 0.7240 since the end of August and today’s slide takes prices just below this range. The recent bullish momentum has weakened as prices have slipped sharply below the 200-day moving [..]

Technical Analysis – US benchmark index gains momentum but outlook bearish

Posted on September 9, 2015 at 1:16 pm GMT

The US benchmark index rallied for a third day on Wednesday but it found resistance around 1992, which was a previous resistance on August 28. Upside momentum in the near term remains strong with the stochastics positively aligned just below the overbought level. RSI is also trending up but has yet to rise above 50. With prices below the Ichimoku cloud and the 200-day moving average, the medium-term outlook remains bearish. A stronger rally to above the 200-day moving average [..]

Technical Analysis – GBPJPY turns bearish below 200-day moving average

Posted on September 1, 2015 at 1:08 pm GMT

GBPJPY has been stuck in bearish territory since its dip below the Ichimoku cloud on August 24. Today’s fall has taken it back below the 200-day moving average, increasing the bearish outlook for the medium term. The nearest support comes from the 61.8% of the Fibonacci retracement level of the April-June upleg at 182.89. With RSI and the stochastics looking bearish below 50, there could be enough downside momentum in the near term to pull prices below this support level. [..]

Technical Analysis – German share index rallies for second day but still stuck in bear territory

Posted on August 26, 2015 at 2:25 pm GMT

The German share index was gaining momentum during the day as it recovers from the 8-month low it set on August 24. Prices have met resistance around 10180 for a second day as the index looks to reclaim the 50% of the Fibonacci retracement level at 10389. Further upward momentum is needed to break above the 38.2% Fibonacci retracement level of the October 2014-April 2015 upleg at 10870, which would take it closer to the 200-day moving average. RSI and [..]

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