Technical Analysis / Page 169

Technical Analysis – Exxon Mobil stock on a slippery slope in bullish channel

Posted on January 31, 2023 at 9:39 am GMT

Exxon Mobil stock price has lost its positive momentum after the pullback off the 117.70 resistance but is developing within an upward sloping channel in the near term. The RSI is pointing down in the bullish area, while the stochastic posted a bearish crossover within its %K and %D lines in the overbought region, indicating the end of the current bullish move. A significant step lower could bring the bearish sentiment into play, sending the price probably towards the 20- and [..]

Technical Analysis – GBPUSD is neutral as the 6-month high puts up a real struggle

Posted on January 31, 2023 at 7:39 am GMT

GBPUSD failed several times over the last one-and-a-half months to surpass above the six-month high of 1.2450 and is struggling to create a new high. The pair remains above the medium-term ascending trend line and the short-term SMAs, awaiting a strong boost for further gains. However, the MACD is weakening near its trigger line in the positive area, while the RSI is moving sideways above the neutral threshold of 50. An extension to the upside and above the 1.2450 key [..]

Technical Analysis – US 500 stock: Will golden cross of SMAs prove to be a bullish sign?

Posted on January 30, 2023 at 2:01 pm GMT

The US 500 stock index is retreating after the successful rally above the long-term downtrend line and the 4,000 round number. Also, the 50- and the 200-day simple moving averages (SMAs) posted a golden cross, but the momentum is weakening as both are moving sideways. The RSI is pointing down in the bullish region; however, the MACD is strengthening its momentum above its trigger and zero lines. Should the pair manage to strengthen its positive momentum, the next resistance could [..]

Technical Analysis – EURCHF in consolidation mode ahead of key events

Posted on January 30, 2023 at 11:04 am GMT

EURCHF is edging higher today as the market is consolidating following a strong start in 2023. A symmetrical triangle has been developing since January 6, revealing a delicate balance and possible indecisiveness of market participants. This situation is not fully shared by the momentum indicators. The RSI is steady above 50 while the Average Directional Movement Index (ADX) signals the presence of a weakening trend. The stochastic oscillator is again more complex as a descending triangle has been forming since January 6. The direction [..]

Technical Analysis – Gold retraces after hitting 9-month peak

Posted on January 30, 2023 at 8:36 am GMT

Gold has staged a massive rebound since November, erasing a significant part of its 2022 decline. Moreover, the price stormed to a fresh nine-month high last week, but quickly pared its latest gains as its advance seems to be running out of juice. The momentum indicators are reflecting this loss of positive momentum. Specifically, the MACD histogram is softening below its red signal line in the positive region, while the stochastic oscillator is sloping downwards after posting a bearish cross in [..]

Technical Analysis – EURUSD weakens after jumping above 1.0900

Posted on January 30, 2023 at 7:24 am GMT

EURUSD is easing from last week’s the nine-month high of 1.0930, remaining within the upward sloping channel and well above the short-term simple moving averages (SMAs). Technically, the MACD oscillator is falling beneath its trigger line in the bullish region, while the RSI is flattening beneath the 70 level, suggesting the momentum is weakening. Further losses should see the 20-day SMA at 1.0780 acting as a major support ahead of the 1.0740 support level and the lower boundary of the [..]

Technical Analysis – ETHUSD lower, next stochastic move crucial

Posted on January 27, 2023 at 9:32 am GMT

ETHUSD (Ethereum) is edging lower today after touching a local peak of 1,679 on January 21. Cryptocurrencies started the year on a very positive note and ETHUSD is currently around 30% higher year-to-date. However, this bullish move seems to lose the support from the momentum indicators, especially at a moment when the 50- and 100-day simple moving averages (SMAs) convergence is setting the scene for an imminent move. The RSI is dipping aggressively towards the 50-midpoint and the stochastic oscillator [..]

Technical Analysis – GBPJPY consolidates as latest rebound falters

Posted on January 27, 2023 at 9:17 am GMT

GBPJPY has been trending downwards after recording a fresh seven-year high of 172.10 in early November. In the short-term, the pair is trading without a clear direction, with its latest attempt for recovery being repeatedly held down by the 161.79 ceiling. The momentum indicators currently suggest that bullish forces are waning. Specifically, the stochastic oscillator is descending after posting a bearish cross near the overbought zone, while the RSI appears ready to exit the 50-neutral territory to the downside. Should the [..]

Technical Analysis – AUDUSD boosts monthly gains; August’s top in focus

Posted on January 27, 2023 at 9:14 am GMT

AUDUSD is set for its third monthly gain, having been trading bullish almost every single week since the slump to a 30-month low of 0.6169 in mid-October,. The pair is currently flirting with August’s high of 0.7136, while the 61.8% Fibonacci retracement of the 0.7660-0.6169 downtrend might be another warning zone at 0.7185 as the RSI and the Stochastics flag overbought conditions. Note that the price keeps fluctuating around the upper Bollinger band area, increasing the odds of a downside correction as well. Nevertheless, [..]

Technical Analysis – EURAUD stands below uptrend line and above 200-day SMA

Posted on January 27, 2023 at 7:42 am GMT

EURAUD has lost ground around 2.6% over the last five days, standing well below the medium-term uptrend line. However, the technical oscillators are suggesting weak negative momentum as the RSI is flattening in the bearish region, while the stochastic is turning up in the oversold territory. Further losses should see the 1.5255 support ahead of the crucial 200-day simple moving averages (SMAs) currently at 1.5130. A drop below this level would reinforce the bearish structure in the short-term and open [..]

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