Technical Analysis / Page 228

Technical Analysis – NZDUSD rangebound after rebound stalls at 50-SMA

Posted on July 27, 2022 at 7:50 am GMT

NZDUSD has been in a extended downtrend since March when it peaked at the 0.7032 region. Although the price has managed to regain some lost ground after its downfall ceased at the 26-month low of 0.6069, it is currently being held down by the congested region that includes its 50-day simple moving average (SMA) and the upper Bollinger band. The short-term oscillators suggest that the positive momentum is waning. Specifically, the RSI has crossed below its 50-neutral threshold, while the stochastic oscillator is [..]

Technical Analysis – USDJPY moves with weak momentum around 20-day SMA

Posted on July 27, 2022 at 6:53 am GMT

USDJPY found support at the 135.55 barrier, which holds near the medium-term ascending trend line but is still moving with weak momentum around the 20-day simple moving average (SMA). Trend signals remain daunting as the price continues to trade near the Ichimoku lines, which proved to be a tough resistance area to overcome over the last couple of months. As regards the market momentum, some optimism seems to be building over an upside move as the RSI has paused its [..]

Technical Analysis – US 100 stock index slips from highs but maintains short-term uptrend

Posted on July 26, 2022 at 2:35 pm GMT

The US 100 stock index (cash) has been under pressure after meeting resistance at the 12,700 mark last Friday. The price is headed for a third straight session of losses and the stochastic oscillator supports the immediate negative bias as both the %K and %D lines are declining from overbought territory. However, the short-term uptrend remains intact and is underscored by the improvement of the MACD. In addition, the price action is still some distance above the 50-day moving average [..]

Technical Analysis – Microsoft stock weakens around 50-day SMA

Posted on July 26, 2022 at 10:13 am GMT

Microsoft stock price could not find enough buyers to overcome the 23.6% Fibonacci retracement level of the downward wave from 349.42 to 241.00 at 266.80, with the spotlight shifting again towards the 50-day simple moving average (SMA). From the technical view, the RSI and the MACD continue to hold near their neutral level with weak momentum; however, the stochastic oscillator posted a bearish crossover within its %K and %D lines in the overbought region, suggesting a bearish movement on the [..]

Technical Analysis – Facebook stock poised for more losses ahead of earnings release

Posted on July 26, 2022 at 8:44 am GMT

Facebook stock price is trading lower ahead of the earnings release on July 27, holding within a downward sloping channel since February 3. From a technical perspective, the short-term bias is viewed as neutral-to-negative, reflected by the decline in the RSI and the MACD. The RSI is falling below its neutral threshold of 50, while the MACD is flattening above its trigger line and near its zero level. In the event of a downside move, the 153.25 bottom and the [..]

Technical Analysis – EURJPY retreats below 50-SMA but retains bullish outlook

Posted on July 26, 2022 at 8:40 am GMT

EURJPY has been experiencing a decline in the last few daily sessions after its latest advance paused at the 142.31 region. Although the pair managed to cease its drop, its upside remains capped by the congested region that includes its 50-day simple moving average (SMA) and the upper boundary of the Ichimoku cloud. The momentum indicators suggest that negative momentum is strengthening. Specifically, the stochastic oscillator is sloping downwards near the 20-oversold area, while the RSI is hovering below its [..]

Technical Analysis – GBPUSD turns bullish in short term after dramatic slump

Posted on July 26, 2022 at 6:27 am GMT

GBPUSD has reversed back up after finding strong support at the 28-month low of 1.1760. The pair is advancing above the 20-day simple moving average (SMA) and the next obstacle to surpass is the medium-term descending trend line. The momentum indicators are pointing to a positive bias in the short term with the RSI just above 50 and the MACD is holding above its trigger line in the negative region. A move to the upside could see immediate resistance at [..]

Technical Analysis – Gold bounces off 1-year low but retains bearish outlook

Posted on July 25, 2022 at 7:50 am GMT

Gold has been experiencing a sustained downtrend since early March, generating a profound structure of lower highs and lower lows. Although the precious metal managed to cease its decline at the one-year low of 1,681 and recoup some losses, its bearish technical picture remains intact. The momentum indicators reflect a cautiously positive near-term bias. Specifically, the stochastic oscillator is sloping upwards towards its 80-overbought zone, while the MACD has crossed above its red signal line but remains in the negative territory. [..]

Technical Analysis – EURUSD stands below 20-day SMA; maintains bearish bias

Posted on July 25, 2022 at 6:30 am GMT

EURUSD remains under pressure and the risk is still to the downside as prices continue to drift lower from the 20-day simple moving average (SMA) and the latest high of 1.0280. The short-term technical indicators are still holding in bearish territory. The RSI is pointing downwards below the neutral threshold of 50, while the MACD is rising above its trigger line in the negative region. The next target to the downside is the parity level again, which the price failed to have a daily [..]

Technical Analysis – GBPUSD rangebound supported by 50-SMA

Posted on July 22, 2022 at 1:14 pm GMT

GBPUSD has been moving sideways after its recent rebound failed to cross above the 1.2045 region. However, the pair is exhibiting negative tendencies, with the 50-period simple moving average (SMA) and the lower Bollinger band acting as a strong floor for the price. The momentum indicators are reflecting a bearish near-term bias. Specifically, the MACD histogram has fallen below its red signal line but remains in positive territory, while the stochastic oscillator is sloping downwards after posting a bearish cross. [..]

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