Technical Analysis / Page 208

Technical Analysis – EURJPY battles with 50-day SMA as decline halts

Posted on September 27, 2022 at 7:23 am GMT

EURJPY has been experiencing a sharp drop after its latest advance came to a halt at the eight-year high of 145.62. However, in the last couple of sessions, the pair has managed to stop its bleeding as the 50-day simple moving average (SMA) has been acting as a strong floor. The short-term oscillators currently suggest that near-term risks are tilted to the downside. Specifically, the RSI is flatlining below its 50-neutral mark, while the MACD histogram is retreating below its [..]

Technical Analysis – USDJPY defies intervention, heads towards 145.00 again

Posted on September 26, 2022 at 12:01 pm GMT

USDJPY has been in a recovery mode since Thursday, just hours after it tumbled more than 500 pips due to the BoJ’s intervention. The pair triggered some buy orders near 140.35, and it has since then recovered more of the intervention-related losses. In the bigger picture, the pair remains above the upside support line drawn from the low of March 4, which implies that the prevailing uptrend remains intact. Both the short-term oscillators detect upside momentum, supporting the notion that [..]

Technical Analysis – US 500 index is in free-fall near 1½-year low

Posted on September 26, 2022 at 10:01 am GMT

The US 500 cash index has been underperforming over the last five daily sessions, but the strong negative momentum started after the pullback off the 200-day exponential moving average (EMA). The price is approaching the one-and-a-half-year low of 3,635, endorsing the long-term bearish structure. The momentum indicators, are currently encouraging that sell-off as the RSI is declining beneath the 30 level, entering the oversold territory, while the MACD is extending its bearish movement below its trigger and zero lines. In the [..]

Technical Analysis – Gold extends its decline to fresh 29-month lows

Posted on September 26, 2022 at 7:37 am GMT

Gold has been losing ground since early March, generating a profound structure of lower highs and lower lows within a descending channel. Furthermore, in the last few daily sessions, the technical picture has deteriorated, with the price forming consecutive fresh 29-month lows and trading beneath its lower Bollinger band. The short-term oscillators currently suggest that bearish forces are strengthening. Specifically, the RSI has entered the 30-oversold zone, while the MACD histogram is retreating below both zero and its red signal [..]

Technical Analysis – EURCHF erases some losses after drop to multi-year low

Posted on September 26, 2022 at 7:35 am GMT

EURCHF is gaining some ground after the sell-off towards the fresh multi-year low of 0.9430. However, the market is failing to end the day below the lower Bollinger band for now, suggesting that an extension to the upside is possible. The RSI is holding in the negative region with weak momentum and the MACD is falling below its trigger and zero lines. If buyers push higher, initial resistance could come from the 20- and 50-day simple moving averages (SMAs) at 0.9655 and 0.9695 [..]

Technical Analysis – EURUSD on course to reach channel’s bottom

Posted on September 26, 2022 at 6:40 am GMT

EURUSD plummeted to a new twenty-year low of 0.9547 early on Monday after its most devastating week since the pandemic, with the focus now shifting to the bottom of the 2022 bearish channel at 0.9480. The price managed to recoup some losses and return above the 0.9600 level over the past couple of hours, as the RSI and the stochastics hinted at oversold conditions. Although some recovery would not be surprising after an ugly sell-off, the technical indicators haven’t exited [..]

Technical Analysis – AUDJPY tumbles and hits 93.55; bearish bias strengthens

Posted on September 23, 2022 at 12:14 pm GMT

AUDJPY fell off the cliff yesterday after the BoJ intervened in the market to boost the wounded yen. Although the fall triggered some buy orders near 93.55, the recovery remained short lived, and another round of selling was initiated today from near 94.73. Overall, the pair remains below a tentative downside line taken from the high of September 13, as well as below the prior upside support line drawn from the low of August 5, which probably implies that further [..]

Technical Analysis – GER 40 index slumps to 2022 floor

Posted on September 23, 2022 at 10:45 am GMT

The German 40 index (cash) unlocked an almost two-year low at 12,347, set on a pace to re-activate its 2022 downtrend below the 12,385 base, which kept the market in a horizontal move over the past six months. At this phase, a rebound cannot be excluded as the falling RSI is within breathing distance from its previous lows and its 30 oversold level. The stochastics have already sunk below their 20 oversold number, but they keep trending southwards, warning that another bearish extension [..]

Technical Analysis – USDCAD unlocks fresh 26-month high

Posted on September 23, 2022 at 7:21 am GMT

USDCAD skyrocketed to a higher high on yesterday’s session at 1.3543, which is a new 26-month peak. The pair looks to be creating a floor above the 1.3400 barrier while the RSI and the MACD oscillators are holding in overbought levels, suggesting that the next move may be to the downside. Traders, however, would be more eager to buy if the price manages to surpass the nearby top at 1.3543. If this is successfully breached, then the rally may next rest [..]

Technical Analysis – USDCHF outlook unchanged despite fast rally

Posted on September 23, 2022 at 7:09 am GMT

USDCHF experienced its most volatile daily session since June 2021 on Thursday, fluctuating vigorously between a low of 0.9619 and a high of 0.9849. The pair managed to distance significantly above its exponential moving averages (EMAs), but the bullish fuel was not enough to exit the bearish-to-neutral trajectory in the medium-term picture, with the price closing below July’s high of 0.9668. Nevertheless, with the RSI jumping decisively above its 50 neutral level and the MACD climbing back above its red [..]

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