Technical Analysis / Page 217

Technical Analysis – EURGBP takes a breather after amazing rally

Posted on August 31, 2022 at 7:28 am GMT

EURGBP has been in a marvelous rally over the past three consecutive trading days, appreciating by 2.0% to top at 0.8600 and slightly above July’s intra swing high of 0.8583. The ascend picked up steam following the pivot near the 50-day simple moving average (SMA) and the resistance trendline drawn from 0.8677. The question now is whether the impressive rebound will continue at the same strong pace. According to the momentum indicators, the market has not confirmed overbought conditions yet [..]

Technical Analysis – USDJPY tries to extend the medium-term bullish structure

Posted on August 31, 2022 at 6:31 am GMT

USDJPY has been gaining ground in the short-term timeframe, holding above the one-month uptrend line, despite today’s pullback so far. Though, the market is still moving beneath the medium-term ascending trend line and awaits a strong boost to post a higher high. Technically, the MACD is holding above its trigger and zero lines; however, the stochastic oscillator is weakening its momentum entering the overbought region, suggesting that the next move may be to the downside. Any moves beyond the [..]

Technical Analysis – Chevron stock extends uptrend, eyeing crucial zone

Posted on August 30, 2022 at 1:51 pm GMT

Chevron’s stock has been gaining ground in the short-term after its sharp decline came to a halt at the 132.40 region. In addition, the ascending 50- and 200-day simple moving averages (SMAs) combined with the price action being near the upper Bollinger band are promoting a bullish technical picture. The short-term oscillators suggest that near-term risks are tilted to the upside. Specifically, the MACD histogram is currently above both zero and its red signal line, while the RSI is hovering [..]

Technical Analysis – JP 225 index sees golden cross but strong resistance awaits near 7-month high

Posted on August 30, 2022 at 1:34 pm GMT

The JP 225 cash index has gained little so far this week, and it managed to hold above the 27,730 support. That said, the 20- and the 200-day simple moving averages (SMAs) posted a golden gross, suggesting more gains in the market. The technical indicators are feeding some prospects for a possible positive short-term trading. The RSI is rising well above 50, while the stochastic remains above its oversold territory, even though is flattening. A successful attempt above the seven-month high of [..]

Technical Analysis – AUDUSD edges higher within symmetrical triangle; neutral in medium-term

Posted on August 30, 2022 at 12:30 pm GMT

AUDUSD is finding strong support near the short-term ascending trend line and the 0.6855 barrier, after it spiked towards a new six-week low at 0.6840. The RSI indicator is gaining some momentum, mirroring the market’s bullish behavior over the past couple of days, flagging that a recovery could reemerge in the short-term. The MACD is also moving with weak momentum near its trigger and zero lines. In case the pair changes its short-term direction to the upside, the bulls will probably challenge [..]

Technical Analysis – EURCHF spikes to one-month high; 200-SMA in focus

Posted on August 30, 2022 at 9:09 am GMT

EURCHF gathered significant pace over the past couple of hours, with the price spiking straight up to the 200-period simple moving average (SMA) on the four-hour chart for the first time since June. It’s also worthy to mention that the bullish move has forcefully breached the 20-SMA in the daily chart too. Earlier today, the price unlocked a one-month high at 0.9746, which is where the bulls hit a wall in mid-August before giving up the game. Moreover, with the RSI and the stochastics [..]

Technical Analysis – US 100 index rebounds off the uptrend line

Posted on August 30, 2022 at 9:06 am GMT

The US 100 index bounced on the short-term uptrend line, which is taken from the lows on June 16. Also, the 50- and the 100-day simple moving averages are in the process of completing a bullish crossover. The RSI indicator is pointing upwards in the bearish region; however, the MACD oscillator is still falling below its trigger line but keeps fluctuating above the zero level. An extension to the upside may find resistance near the 13,207 barrier before stretching towards the four-month high at 13,721. Slightly higher, the 200-day SMA at 13,800 may next halt bullish actions. On [..]

Technical Analysis – EURJPY looks to exit bearish channel

Posted on August 30, 2022 at 6:58 am GMT

EURJPY had an impressive start to the week, but despite its bold bullish correction up to a one-month high of 138.96, the pair could not exit the bearish channel nor could it close above the 50-day simple moving average (SMA) at 139.00. Although the MACD keeps pushing towards the positive territory and the stochastics remain positively charged, the RSI suggests that some caution is warranted as the indicator is struggling to overcome its July high. Should buyers breach the wall at 139.00, resistance [..]

Technical Analysis – GBPUSD turns bearish again in short term after dramatic slump

Posted on August 30, 2022 at 6:45 am GMT

GBPUSD has been underperforming over the past two days, meeting a new 29-month low at 1.1670. When looking at the bigger picture, the pair has been developing within a descending channel since February with the technical indicators confirming the bearish structure. The MACD oscillator is heading south below its trigger and zero lines, while the RSI is holding near the oversold territory. In trend indicators, the 20- and 40-day simple moving averages (SMAs) posted a bearish crossover and are following [..]

Technical Analysis – Gold feels more pain as bearish bias strengthens

Posted on August 29, 2022 at 10:54 am GMT

Gold extended Friday’s decline to a one-month low of 1,720 during Monday’s early European trading hours, having previously pulled below its shorter-term simple moving averages (SMAs) and beneath the long-term constraining line that is part of the 2020 bearish channel. The RSI and the MACD are currently warning that the ongoing bearish wave is still at an early stage as the former has resumed its negative direction below its 50 neutral mark, while the latter is gradually declining below its red [..]

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