Technical Analysis / Page 211

Technical Analysis – EURCHF consolidates as 50-SMA caps latest rebound

Posted on September 19, 2022 at 12:20 pm GMT

EURCHF has been gaining some ground in the short term after its sharp decline came to a halt at the all-time low of 0.9530. However, the recent price recovery has been repeatedly held down by the descending 50-period simple moving average (SMA) and the upper Bollinger band. The momentum indicators currently suggest that bullish forces remain in control, but they are moderating. The MACD histogram is found above zero and its red signal line, while the RSI is flatlining beyond its 50-neutral mark. Should [..]

Technical Analysis – USDJPY awaits uptrend resumption

Posted on September 19, 2022 at 9:51 am GMT

USDJPY pivoted gently to the upside early on Monday after sliding marginally below the 143.00 round level. The support area coincides with the surface of the Ichimoku cloud in the four-hour chart and a broken ascending line drawn from the 2020 March lows, which looks to be part of a bullish ascending triangle. The bullish triangle is flagging a trend continuation, but the bulls will need to rally above the 144.95 ceiling to confirm it. Traders will also monitor whether the latest bearish cross between the [..]

Technical Analysis – US 500 index extends decline to 2-month low levels

Posted on September 19, 2022 at 9:04 am GMT

The US 500 stock index (cash) has been losing ground in the short term after its latest upside move came to a halt at the 4,155 level. Moreover, the price has dived beneath both its 50-day simple moving average (SMA) and the lower boundary of the Ichimoku cloud, painting a rather gloomy technical picture. The short-term oscillators are indicating that bearish forces are strengthening. Specifically, the MACD histogram is retreating further below both zero and its red signal line, while [..]

Technical Analysis – Gold faces dim outlook as new resistance pops up

Posted on September 19, 2022 at 8:02 am GMT

Gold resumed its bearish momentum early on Monday after Friday’s rebound off a 29-month low of 1,653 faded immediately around the previous low of 1,680. Strikingly, the latter overlaps with the 200-weekly moving average (SMA), which has been out of sight since the end of 2018. In technical indicators, the bearish cross within the 20- and 50-day SMAs is endorsing the negative trend in the market. Meanwhile, the MACD is set for another downside extension below its red signal and [..]

Technical Analysis – EURUSD hovers around the parity level again

Posted on September 19, 2022 at 6:31 am GMT

EURUSD is moving back and forth of the 1.0000 psychological level, failing once again to surpass the descending trend line in the preceding week. The technical oscillators seem to be in confusion, as the MACD is holding above its trigger line in the negative region, while the RSI is ticking lower below the neutral threshold of 50. If the price has a closing day below the parity level, then the focus should shift to the downside again, meeting the 20-year [..]

Technical Analysis – GBPAUD squeezed between key boundaries

Posted on September 16, 2022 at 10:56 am GMT

GBPAUD has been in a range for three weeks now beneath the support-turned-resistance line, which joins all the lows from September 2020, struggling to sustain any strength above 1.7100. The narrowing Bollinger band lines signal potentially increased volatility ahead, though the momentum indicators are providing little direction about the next move in the price as the RSI has pulled lower after failing to overcome its 50 neutral mark, whereas the MACD continues to gain ground above its red signal line. Encouragingly, [..]

Technical Analysis – GBPUSD revisits pandemic lows as bears persist

Posted on September 16, 2022 at 8:14 am GMT

GBPUSD corrected forcefully to the downside early on Friday, breaking below the critical 1.1400 pandemic low, where the bears halted the 2022 downtrend on September 7. The MACD is extending its bearish wave below its red signal and zero lines in the four-hour chart, while the RSI and the stochastics are negatively charged near their oversold levels, suggesting a cautiously bearish bias. The channel’s lower boundary is now a target at 1.1343. A continuation lower could pause near the 1.1200 psychological [..]

Technical Analysis – USDCAD storms to fresh 22-month high

Posted on September 16, 2022 at 7:50 am GMT

USDCAD has been in an uptrend since early August when the price encountered strong support at the 200-day simple moving average (SMA). Moreover, in the past few sessions, the technical picture has improved even further, with the price recording a fresh 22-month high of 1.3270 and currently trading above its upper Bollinger band. The momentum indicators also suggest that near-term risks are tilted to the upside. Specifically, the stochastic oscillator is sloping upwards in the overbought area, while the MACD histogram has [..]

Technical Analysis – GBPJPY eases for the fourth straight day; neutral bias

Posted on September 16, 2022 at 7:02 am GMT

GBPJPY is retreating for the fourth consecutive red day, following the pullback from the 167.50 resistance level. Currently, the market is neutral in the medium-term, as it failed several times to post a higher high above the more-than-six-year peak of 168.65. The pair is approaching the recent bullish crossover within the 20- and 50-day simple moving averages (SMAs) that is suggests more gains in the short-term. However, the technical oscillators show contradicting signals. The RSI is pointing downwards in the [..]

Technical Analysis – Twitter stock rangebound despite completing golden cross

Posted on September 15, 2022 at 3:08 pm GMT

Twitter’s stock has been moving sideways in the past few sessions after its latest pullback failed to cross below the 37.80 region. However, the technical picture seems to be favouring the bulls as the 50-day simple moving average (SMA) has crossed above the 200-day SMA, creating a golden cross. The short-term oscillators also reflect that bullish forces are in control. Specifically, the MACD histogram is currently above both zero and its red signal line, while the RSI is flatlining beyond [..]

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