Technical Analysis / Page 10

Technical Analysis – EURUSD in a dramatic downfall

Posted on June 14, 2024 at 11:13 am GMT

EURUSD corrects sharply down to 1½-month low; gives up previous gains Technical signals remain bearish; support expected near 1.0650-1.0660 EURUSD continued to sink for the second consecutive day on Friday, reversing entirely its post-US CPI upturn and trimming a significant portion of its April-June uptrend to trade at a 1½-month low of 1.0670. The sharp selling started after the bulls failed to climb above the support-turned-resistance trendline at 1.0850 and the 200-period simple moving average (SMA), while lower, the rejection near [..]

Technical Analysis – GBPJPY bounces to 14-year high; eyes on 201 resistance

Posted on June 14, 2024 at 8:43 am GMT

GBPJPY unlocks a new high after the Bank of Japan defies expectations of reduced bond purchases Technical signs are positive, but the bulls need to breach the 201 obstacle GBPJPY stepped on the long-term ascending line at 200 and jumped to a new 14-year high of 201.59 in the BoJ aftermath on Friday with scope to continue its long-term positive trend. The short-term risk is more on the upside than on the downside. Specifically, the exponential moving averages (EMAs) [..]

Technical Analysis – USDCAD remains bullish with weak momentum

Posted on June 14, 2024 at 7:44 am GMT

USDCAD fails to extend above 1.3785 Stochastics suggest bearish retracement USDCAD is still developing above the short-term simple moving averages (SMAs), which are ready for a bullish crossover, and above the medium-term uptrend line. Technically, the MACD oscillator is moving sideways above the zero level; however, the stochastic oscillator is indicating a negative movement as it posted a bearish cross with %K and %D lines in the overbought region. If there are some negative retracements, immediate support could come from [..]

Technical Analysis – Apple stock restores uptrend after a year

Posted on June 13, 2024 at 2:42 pm GMT

Apple breaks long-term range to mark record high within 200 territory Short-term steep rally could take a breather as overbought signals strengthen On Tuesday, Apple unveiled its own AI tools, propelling its stock to uncharted territory. Weaker-than-expected US CPI inflation data added fresh impetus to the stock on Wednesday, extending the rally above the resistance line, which connects the 2021 and 2023 highs, and towards an all-time high of 220. The stock’s gains were trimmed due to the Fed’s hawkish communication, but [..]

Midweek Technical Look – Gold, GBPUSD, EURJPY

Posted on June 13, 2024 at 12:44 pm GMT

Gold trims gains after FOMC rate decision; at risk of bearish trend reversal below 2,290 GBPUSD closes below 1.2800 barrier despite hitting 3-month high EURJPY exhibits favorable attitude; next resistance at 170.78 [..]

Technical Analysis – WTI crude oil fails to improve upside move

Posted on June 13, 2024 at 9:57 am GMT

WTI crude finds tough obstacle at 200-day SMA Technical oscillators head south WTI crude oil returned above the medium-term ascending trend line, hitting the strong 200-day simple moving average (SMA) at 79.36 after bouncing off the four-month low of 72.46. The technical oscillators are indicating a negative retracement in the short-term view. The RSI is sloping slightly down near the 50 level, while the stochastic oscillator posted a bearish crossover between the %K and %D lines in the overbought area. [..]

Technical Analysis – USDJPY holds within narrow range in near term

Posted on June 13, 2024 at 7:02 am GMT

USDJPY remains below 157.70 Uptrend line acts as strong support Momentum oscillators show contradicting signs USDJPY is still developing below the 157.70 resistance level and well above the medium-term ascending trend line, failing to have a notable movement after the US CPI data and the Fed decision on Wednesday. The technical oscillators are showing some mixed signals. The RSI is pointing upwards above the neutral threshold of 50, while the stochastic is heading south, posting a bearish crossover within its [..]

Technical Analysis – JP 225 index breaks above 50-day SMA

Posted on June 12, 2024 at 2:50 pm GMT

JP 225 index has been rangebound in the past month But has violated 50-day SMA and has advanced in latest sessions Momentum indicators are skewed to the upside The JP 225 index (cash) has been trading without clear direction since early May, fluctuating around its 50-day simple moving average (SMA). In the near term, the price broke above its 50-day simple moving average (SMA), with the short-term oscillators indicating strengthening bullish momentum. If the price extends its recent gains, the April resistance of 39,960 could curb initial [..]

Technical Analysis – EURUSD recoups losses and bearish gap after US CPI

Posted on June 12, 2024 at 1:32 pm GMT

EURUSD posts gains above 1.0800 RSI crosses above 50 level EURUSD is extending its rebound off 1.0740 after US inflation data that was lower than expected. The pair jumped above the 50- and the 200-day simple moving averages (SMAs) as well as the 1.0800 round number. Technically, the RSI indicator is currently crossing the 50 level to the upside; however, the MACD is losing momentum beneath its trigger line and near the zero level. In case buyers hold control and [..]

Technical Analysis – US 500 index jumps higher to another new record peak

Posted on June 12, 2024 at 8:23 am GMT

US 500 index creates fresh all-time high Key levels to watch the next round numbers RSI and stochastics near overbought territories The US 500 (cash) index extended its bullish move above the 5,350.15 level and is currently trading near the fresh record peak of 5.386.97. The index has also increased distance above its positively sloped moving average lines, indicating that the recent uptrend might hold for longer. Also, the RSI indicator is approaching the overbought region with weak momentum, while the stochastic continues [..]

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