Technical Analysis / Page 193

Technical Analysis – EURUSD fails to remain above 1.0000; neutral in medium-term

Posted on November 10, 2022 at 8:22 am GMT

EURUSD is meeting the parity level again, dropping beneath the 20-period simple moving average (SMA) after the pullback from the 1.0095 resistance. In the medium-term timeframe, the pair is failing to have a clear directional movement as it has been moving sideways since mid-October. The technical oscillators are suggesting a negative movement as the RSI is pointing down in the positive region following the decline from the overbought region, while the MACD is losing momentum beneath its trigger line. Further [..]

Technical Analysis – EURGBP overcomes the SMAs but short-term outlook is neutral

Posted on November 9, 2022 at 11:23 am GMT

EURGBP is gaining some ground above the 20- and 50-day simple moving averages (SMAs) with the next strong resistance being the 0.8790 barrier. The short-term outlook is neutral as the price is consolidating within 0.8565-0.8790 over the last month. The RSI is ticking higher near the neutral threshold of 50, while the MACD is approaching the zero level, holding above its trigger line. If buying interest picks up, early tough resistance could occur at the 0.8790 high, where the ceiling [..]

Technical Analysis – NZDUSD extends recovery after bouncing off 30-month lows

Posted on November 9, 2022 at 8:55 am GMT

NZDUSD has been trending lower since March, generating a profound structure of lower highs and lower lows. Nevertheless, the pair has posted a moderate recovery and has jumped above its 50-day simple moving average (SMA) after finding its feet at the 30-month low of 0.5510. The momentum indicators are endorsing a positive near-term tone. Specifically, the MACD histogram is strengthening above both zero and its red signal line, while the RSI has crossed above its 50-neutral mark. To the upside, bullish actions could [..]

Technical Analysis – Gold dives from 1-month high after aggressive bullish rally

Posted on November 9, 2022 at 8:44 am GMT

Gold prices gained significant buying traction on Tuesday – the largest 4-hour increase of the year –, with the price peaking at a fresh one-month high near 1,717. The positive slope in the RSI and the growing MACD are endorsing the current bullish momentum in the price, though with the former above its 70 overbought level, the bears could be around the corner. A decisive close above the aforementioned new high could reduce negative risks, producing another bullish extension towards [..]

Technical Analysis – USDJPY exposed to more downside in the short-term

Posted on November 9, 2022 at 8:13 am GMT

USDJPY stretched its November’s losses towards the 50-day simple moving average (SMA) and close to the 145.00 round-level on Tuesday as the US midterm election results started to roll in. The momentum indicators point to more declines ahead as the RSI is weakening below its 50 neutral mark and the MACD is decelerating below its red signal line. The stochastics are in downward move too, though within a short distance from their 20 oversold level, suggesting that the bearish wave in [..]

Technical Analysis – Apple tumbles and hits 135; Will it break lower?

Posted on November 8, 2022 at 2:38 pm GMT

Apple’s stock had a free-fall ride last week, eventually finding some buy orders near the key support territory of 135.00 on Friday. Yesterday, the stock rebounded somewhat but with a tentative downtrend line and all the plotted moving averages well above the current price level, the outlook remains gloomy. Both the RSI and the MACD are detecting downside speed and corroborate the notion of another round of selling in the foreseeable future. The former is lying below its equilibrium 50 [..]

Technical Analysis – US 100 index seems to have found a floor

Posted on November 8, 2022 at 10:17 am GMT

The US 100 index has finally reversed somewhat to the upside since last Friday after printing lower highs and lower lows in the preceding year to reach a more than two-year low on October 13. However, the downward pattern that started at the end of December 2021 may not change unless the market manages to crawl substantially above the descending trend line. The momentum indicators are currently supporting that positive momentum is likely to strengthen in the short-term. Specifically, the RSI is picking up speed below 50 and the [..]

Technical Analysis – EURJPY trades sideways after hitting 8-year high

Posted on November 8, 2022 at 8:41 am GMT

EURJPY has been in a prolonged uptrend since early March, generating consecutive multi-year peaks. However, the pair has been consolidating in the last few daily sessions as its rally paused at the eight-year high of 148.39. The momentum indicators currently suggest that bullish forces are strengthening. Specifically, the RSI has crossed above its 50-neutral mark, while the stochastic oscillator is surging after bouncing at the 20-oversold zone. Should the positive momentum intensify, the recent resistance region of 147.75 could act as the first [..]

Technical Analysis – GBPUSD aims for bullish breakout

Posted on November 8, 2022 at 8:30 am GMT

GBPUSD returned to test February’s crucial descending trendline near 1.1535 after two strong consecutive bullish days. The positive intersection between the 20- and 50-day simple moving averages (SMAs), if sustained, could increase hopes for a bullish trend reversal. In other encouraging signs, the RSI keeps hovering above its 50 neutral mark and the stochastics have changed course to the upside. Yet, the MACD has yet to climb above its red signal line, suggesting that further improvement is needed to confirm a bullish bias. [..]

Technical Analysis – AUDUSD eases but short-term picture is bullish

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

AUDUSD has come under renewed selling pressure, falling back below the 0.6490 resistance level but remaining above the simple moving averages (SMAs) and the Ichimoku cloud. Moreover, the price rebounded after it found support near the uptrend line taken from the lows of October 13, enhancing the argument that the picture may not be entirely negative at the moment. Looking at momentum oscillators on the 4-hour chart though, they suggest further declines may be on the cards in the very [..]

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