Technical Analysis / Page 201

Technical Analysis – USDJPY bulls face big challenge around 32-year peak

Posted on October 17, 2022 at 10:32 am GMT

USDJPY has been on the side-lines as the 32-year high of 148.85, that was reached on Friday, seems to be a real struggle for the bulls. Technically, the price could lose some ground in the short-term as the RSI is changing direction to the downside above the 70 line, while the stochastics are warning over an overbought market, creating a bearish cross within the %K and %D lines. A surpass of the recent peak of 148.85 could keep the pair on the uptrend started [..]

Technical Analysis – Gold extends decline after rebound falters

Posted on October 17, 2022 at 8:05 am GMT

Gold has been losing ground since early March, generating a profound structure of lower highs and lower lows. Even though the precious metal rebounded strongly from the 29-month low of 1,614 and jumped above its restrictive trend line, it quickly retreated again within its long-term descending channel. The short-term oscillators currently suggest that bearish forces remain in control. Specifically, the RSI is flatlining beneath its 50-neutral mark, while the MACD histogram has dropped below its red signal line in the negative territory. Should selling [..]

Technical Analysis – EURUSD stays within a range; support at 0.9700

Posted on October 17, 2022 at 7:38 am GMT

EURUSD retained a strong footing around the 0.9700 level despite the flash drop to 0.9631 last week and the downside pressures near the 20-day simple moving average (SMA). The pair continued to trade with weak momentum early on Monday as technical signals provided no clear direction. Although above their recent lows, the RSI is moving sideways below its 50 neutral mark and the MACD is still attached to its red signal line in the negative area. On the other hand, the [..]

Technical Analysis – US 500 index remains above the 200-weekly SMA after new 2-year low

Posted on October 17, 2022 at 7:34 am GMT

The US 500 cash index posted a negative spike towards a fresh almost two-year low of 3,490 on Thursday but failed to finish the week beneath the 200-weekly simple moving average (SMA) around 3,600. According to the RSI, the market could maintain itself above the 3,630 support in the short-term as the RSI is positively sloped beneath its neutral threshold of 50. The MACD oscillator is hovering near its trigger line below the zero level. On the upside, the price could [..]

Technical Analysis – Netflix stock trades within tight range ahead of earnings

Posted on October 14, 2022 at 11:44 am GMT

Netflix’s stock has been experiencing a very tough year, losing more than 60% of its value and generating a 5-year low of 162.00. Nevertheless, the share price has staged a moderate rebound in the past quarter, while it is fluctuating around its 50-day simple moving average (SMA) ahead of the Q3 earnings release. The momentum indicators are endorsing a positive near-term bias. Specifically, the stochastic oscillator is ascending after rebounding from the 20-oversold zone and the RSI has crossed above [..]

Technical Analysis – GBPUSD gives up some ground ahead of UK PM’s press conference

Posted on October 14, 2022 at 11:16 am GMT

GBPUSD shifted to the sidelines after Thursday’s quick advance halted marginally near the 200-period simple moving average (SMA) at 1.1300 as it did earlier this month. The stochastics have exited the overbought territory, while the RSI, although above 50, has a negative slope, both reflecting a weakening market sentiment as investors await more details on a potential budget U-turn by the UK prime minister. Sellers, however, may not take charge unless the price slips below the 23.6% Fibonacci retracement of [..]

Technical Analysis – USDCAD retraces after hitting fresh 29-month high

Posted on October 14, 2022 at 7:58 am GMT

USDCAD has been in a steep uptrend since mid-September when the price managed to forcefully cross above the 1.3222 region. Although the pair spiked higher to a fresh 29-month high in the previous daily session, it quickly corrected lower and closed the day with losses, hinting that the rally could be overstretched. The momentum indicators currently suggest that bullish forces are waning. Specifically, the stochastic oscillator is sloping downwards after posting a bearish cross, while the MACD histogram has retreated [..]

Technical Analysis – GBPJPY continues the upside momentum above 200-day SMA

Posted on October 14, 2022 at 6:38 am GMT

GBPJPY posted a bullish rally over the last couple of days, rebounding off the 159.70 barrier and surpassing the SMAs as well. The pair is flirting with the 167.00 round number with the technical oscillators confirming the recent bullish bias. The RSI is ticking slightly higher in the positive region, while the MACD is extending its movement above its trigger and zero lines. More upside pressures could open the way for the next immediate resistance at 167.50 before resting near the more-than-six-year high [..]

Technical Analysis – US 30 index hovers above the almost 2-year low

Posted on October 13, 2022 at 10:10 am GMT

The US 30 cash index has been moving sideways since the soft rebound on the 28,900 support, unable to fully recover losses made earlier this month. In the short-term, the market could maintain consolidation if the RSI keeps flattening below the 50 level, while the MACD is still in the negative region. An extension to the upside and above the 20-day simple moving average (SMA) at 29,750 could meet the area within the previous high of 30,470. Further up, resistance could [..]

Technical Analysis – AUDUSD slumps to 29-month low as outlook deteriorates

Posted on October 13, 2022 at 7:52 am GMT

AUDUSD has been in a steep downtrend since early March, generating a profound structure of lower highs and lower lows. Although the pair managed to find its feet and traded sideways during the past week, it soon broke the pattern to the downside to form a fresh 29-month low of 0.6234. The short-term oscillators are endorsing this bearish near-term bias. Specifically, the RSI is hovering within its 30-oversold zone, while the MACD histogram has retreated further below its red signal line in [..]

Legal disclaimer: The material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instruments. XM accepts no responsibility for any use that may be made of these comments and for any consequences resulting in it. No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. The research and analysis does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it.

It has not been prepared in accordance with legal requirements designed to promote the independence of research, and as such it is considered to be marketing communication. Although we are not specifically constrained from dealing ahead of the publication of our research, we do not seek to take advantage of it before we provide it to our clients. We aim to establish, maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. We operate a policy of independence, which requires our employees to act in our clients’ best interests and to disregard any conflicts of interest in providing our services.

CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losing all of your invested capital, so please make sure that you fully understand the risks involved.

Technical Analysis

XM Live Chat