Technical Analysis / Page 189

Technical Analysis – WTI crude oil slips towards 10-month low

Posted on November 24, 2022 at 8:18 am GMT

WTI crude oil futures are heading south with the next major support coming from the ten-month low of 75.28. The 20- and 50-day simple moving averages (SMAs) are ready for a bearish crossover, indicating more losses, while the price is still developing well below the downtrend line. The descending move in the RSI and the slowdown in the stochastic justify the selling pressure, as both remain near their negative thresholds, keeping the short-term risk skewed to the downside. The MACD is [..]

Technical Analysis – EURGBP slips again but holds within a rectangle pattern

Posted on November 23, 2022 at 12:11 pm GMT

EURGBP appears to be maintaining a horizontal trajectory, trapped between the 0.8830 resistance and the 0.8565 support. A paused state of directional momentum is reflected in the flattish short-term simple moving averages (SMAs), while the technical oscillators are suggesting some losses. The MACD has barely inched below its red trigger line in the negative region, while the RSI is falling from its neutral mark. If sellers drive the pair lower, the 0.8565 barrier could interrupt the pair ahead of the 200-day SMA at [..]

Technical Analysis – EURCHF remains in neutral mode, trapped between moving averages

Posted on November 23, 2022 at 10:33 am GMT

EURCHF is heading higher after the bounce off the 50-day simple moving average (SMA) on Tuesday, but the rebound is already on shaky grounds as there is a significant resistance zone ahead. The 38.2% Fibonacci retracement of the June-September downtrend is blocking advances beyond the 0.9827 mark, while the 20-day SMA lies slightly higher at 0.9845. A break above this constraining region is possible as the RSI is attempting to tick higher after flatlining around the 50 neutral level. But [..]

Technical Analysis – USDJPY trades flat as latest rebound falters

Posted on November 23, 2022 at 8:16 am GMT

USDJPY has been in a prolonged uptrend for almost two years, crossing above its historical resistance levels to post a 32-year high of 151.94 in October. Even though the pair declined moderately from its recent multi-year peak, it has been attempting a rebound in the last few daily sessions. The momentum indicators currently suggest that bearish forces are in control. Specifically, the RSI is hovering below its 50-neutral mark, while the stochastic oscillator is set to post a bearish cross near the overbought area. [..]

Technical Analysis – NZDUSD needs to surpass 0.6200 for more bullish actions

Posted on November 23, 2022 at 8:08 am GMT

NZDUSD is testing the 0.6200 psychological mark once again after it broke the long-term descending trend line to the upside. The bullish bias in the short-term may be endorsed if there is a climb above the medium-term downtrend line and the 200-day simple moving average (SMA) at 0.6290. The MACD oscillator is mirroring the several tests for more bullish actions as the oscillator is moving sideways near its trigger line. However, the RSI is heading north approaching the 70 level. [..]

Technical Analysis – AUDUSD battles with SMAs and Ichimoku cloud

Posted on November 22, 2022 at 10:32 am GMT

AUDUSD is recouping some of the preceding days of losses, remaining beneath the 20- and the 50-period simple moving averages (SMAs). The technical picture: however, suggests a neutral-to-bullish bias at the moment as the MACD remains negatively charged above its red signal line, while the RSI is currently pushing efforts for an upside reversal, and it is still below its 50 neutral mark. Should the near-term SMAs crack, the price could initially test the 0.6730 resistance level before heading towards [..]

Technical Analysis – GBPUSD within tight range after advance pauses near 1.2000

Posted on November 22, 2022 at 8:05 am GMT

GBPUSD has been stuck in a prolonged downtrend since the beginning of the year, plummeting to an all-time low of 1.0324 in mid-September. Nevertheless, the pair has exhibited signs of recovery in the short term, which has currently come to a halt near the 1.200 region. The short-term oscillators are currently indicating a cautiously bullish near-term tone. Specifically, the RSI is hovering above its 50-neutral mark, while the MACD histogram is flat above both zero and its red signal line. [..]

Technical Analysis – EURJPY meets the 20-day SMA but needs some boost for more increases

Posted on November 22, 2022 at 7:35 am GMT

EURJPY is meeting the 20-day simple moving average (SMA) after several days of hovering within the short-term SMAs. In the broader outlook, the market is still moving above the long-term ascending trend line, endorsing the bullish picture. However, the technical oscillators are showing some weakening bias. The flat move in the RSI and the slightly growing MACD are confirming the current neutral-to-bullish momentum in the price, though with the former nearing the neutral threshold of 50 and the MACD moving [..]

Technical Analysis – US 500 consolidates slightly below 200-day SMA

Posted on November 21, 2022 at 1:44 pm GMT

The US 500 stock index (cash) has been constantly gaining ground in the short term, recording consecutive higher highs. However, the price has been trading sideways in the last few daily sessions after it failed to challenge the 200-day simple moving average (SMA). The short-term oscillators currently suggest that bullish forces are subsiding. Specifically, the RSI is losing ground but remains above its 50-neutral mark, while the MACD histogram is weakening above both zero and its red signal line. If selling pressures intensify, immediate support [..]

Technical Analysis – USDJPY bears take a breather after 2½-month low

Posted on November 21, 2022 at 10:38 am GMT

USDJPY showed some significant improvement in the previous 4-hour session, extending the bullish structure above the 140.70 barrier and the 50-period simple moving average (SMA). The RSI is sloping slightly down above the neutral threshold of 50, while the MACD has advanced above the zero level. In the event the bulls hold control, the 143.50 resistance will come first into view. A violation at this point may see another challenging battle around the 144.55-145.15 restrictive region. If buyers claim that [..]

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