Technical Analysis / Page 219

Technical Analysis – AUDUSD picks up steam but more needs to be done

Posted on August 25, 2022 at 7:13 am GMT

AUDUSD started the day with strong positive momentum, quickly recouping yesterday’s mild losses to peak marginally above the 20-day simple moving average (SMA) and the 0.6962 level, which previously was unbreakable. That is also where the 38.2% Fibonacci retracement of the latest upleg resides. The momentum indicators cannot guarantee that the bullish correction will continue. Despite the sharp rebound in the stochastics, the RSI has just ticked above its 50 neutral mark, while the MACD remains muted and negative below its red [..]

Technical Analysis – WTI futures jump higher, surpassing 200-day SMA

Posted on August 25, 2022 at 6:45 am GMT

WTI crude oil futures made a notable attempt to surpass the medium-term descending channel and the bearish crossover within the 40- and the 200-day simple moving averages (SMAs). Currently, the momentum is weak but if the price remains above those crucial lines, the bullish structure may be confirmed. Technically, the MACD oscillator is rising in the negative region, holding above its trigger line; however, the stochastic oscillator is turning lower above the 80 level, suggesting an overbought market. A move [..]

Technical Analysis – ETHUSD aims for recovery as 50-day SMA caps decline

Posted on August 24, 2022 at 1:50 pm GMT

ETHUSD (Ethereum) has been experiencing a downside correction after its short-term uptrend failed to cross above the 2,030 region. However, the cryptocurrency found strong support at its 50-day simple moving average (SMA) and is currently attempting to rebound. The momentum indicators suggest that bullish forces are gaining strength but risks remain tilted to the downside. Specifically, the stochastic oscillator is ascending after rebounding from the 20-oversold zone, while the RSI’s advance paused before reaching the 50-neutral mark. Should buying pressure intensify, [..]

Technical Analysis – GBPAUD breaks back below the lower end of a range

Posted on August 24, 2022 at 12:12 pm GMT

GBPAUD came under selling interest after it hit resistance at the crossroads of the 1.7425 level and the 50- exponential moving average (EMA) on August 17. The slide took the pair below the 1.7200 barrier, which acted as the lower bound of the sideways range it had been trading within between March 18 and August 11. This implies that the bears are not willing to give up any time soon. Both the daily oscillators detect downside speed, adding to the [..]

Technical Analysis – Tesla stock moves sideways after rebound falters

Posted on August 24, 2022 at 12:05 pm GMT

Tesla’s stock has been in an uptrend since early June, generating a structure of higher highs and higher lows. However, in the past two weeks, the recovery seems to be stalling and the stock price is trading within a tight range around the 200-day simple moving average (SMA). The momentum indicators reflect this loss of positive momentum for the stock. Specifically, the stochastic oscillator has dropped near the 20-oversold zone, while the MACD histogram has dived beneath its red signal [..]

Technical Analysis – USDJPY pulls below July’s bar but not bearish yet

Posted on August 24, 2022 at 10:33 am GMT

USDJPY turned red on Tuesday after its five-day bullish rally stalled near July’s resistance of 137.45, but the bears will probably need to work harder to stay in power. Although the negative intersection between the 20- and 50-day simple moving averages (SMAs) keeps promoting a trend deterioration, the price is still trading above those lines. Meanwhile, the RSI and the MACD remain elevated within the bullish area despite softening a bit lately; the former comfortably above its 50 neutral mark and the [..]

Technical Analysis – EURGBP dives below 200-SMA and downtrend line

Posted on August 24, 2022 at 9:00 am GMT

EURGBP is easing beneath the 200-day simple moving average (SMA) after the price action was developing back and forth of it in the previous sessions. The price has penetrated the descending trend line to the upside over the preceding week but failed to extend the buying interest. The RSI indicator is diving below the neutral threshold of 50, while the stochastic is approaching the oversold zone. Immediate support is being provided by the 0.8385 barrier before the market possibly tests the 0.8340 level. Should prices [..]

Technical Analysis – Gold battles with 200-SMA after rebound falters

Posted on August 24, 2022 at 8:21 am GMT

Gold has been trending downwards during the past two weeks, creating a clear structure of lower highs and lower lows. Although the precious metal rebounded slightly after finding its feet at the 1,728 region, the 200-period simple moving average (SMA) capped its advance. The short-term oscillators suggest that near-term risks are tilted to the downside. Specifically, the MACD histogram has jumped above its red signal line but remains in the negative territory, while the RSI is flatlining below its 50-neutral [..]

Technical Analysis – NZDUSD erases yesterday’s rally; could weaken further

Posted on August 24, 2022 at 6:40 am GMT

NZDUSD is continuing the selling interest despite the bounce off the 0.6156 support level in the preceding session. The price holds near the lower boundary of the Ichimoku cloud, while the 20- and 40-day simple moving averages (SMAs) are pointing downwards. The MACD oscillator is heading south as well, holding in the negative region. However, the stochastic oscillator posted a bullish crossover in the oversold area, suggesting the end of the bearish move. Should the pair stretch south, Tuesday’s low [..]

Technical Analysis – Amazon stock declines as 200-day SMA caps upside

Posted on August 23, 2022 at 2:06 pm GMT

Amazon’s stock has been in a recovery mode after finding its feet at the 26-month low of 99.70. However, the price has exhibited a downside correction since it failed to cross above its 200-day simple moving average (SMA). The momentum indicators are promoting the recent retracement as positive momentum seems to be waning. Specifically, the stochastic oscillator is pointing down inside the oversold territory, while the MACD histogram has crossed beneath its red signal line in the positive region. Should selling [..]

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