Technical Analysis / Page 24

Technical Analysis – GBPJPY close to a new 9-year high

Posted on April 26, 2024 at 7:04 am GMT

GBPJPY is in the green again today, a tad below its 9-year high The BoJ meeting failed to stop the yen’s underperformance; intervention threat lingers Momentum indicators are clearly on the GBPJPY bulls’ side GBPJPY is trading higher again today, recording its fourth consecutive green candle and preparing to test the June 24, 2015 high at 195.87. The market is digesting the BoJ meeting’s outcome, with the lack of hawkish rhetoric maintaining the underperformance of the ailing yen and increasing [..]

Technical Analysis – USDCAD retreats beneath 20-day SMA

Posted on April 26, 2024 at 6:18 am GMT

USDCAD is in bearish correction mode MACD and RSI suggest weak momentum USDCAD is heading south erasing the rally towards the 1.3845 peak, slipping beneath the 20-day simple moving average (SMA). However, the broader outlook remains positive as the price is posting higher highs and higher lows above the 200-day SMA. Technically, the MACD oscillator is holding beneath its trigger line in the positive area, while the RSI is moving horizontally near the neutral threshold of 50. If the market [..]

Technical Analysis – BTCUSD retreats after unsuccessful test of 50-SMA

Posted on April 25, 2024 at 1:47 pm GMT

BTCUSD regains ground in the halving aftermath But the price gets rejected at the 50-day SMA Momentum indicators are tilted to the downside BTCUSD (Bitcoin) had been in a slow but steady recovery after the completion of the halving event on April 19, erasing a significant part of its recent slump. However, the rebound appears to be on pause for now following the price’s inability to conquer the 50-day simple moving average (SMA). Should Bitcoin reverse lower, the March support of 62,500 [..]

Midweek Technical Look – GBPUSD, EURJPY, Gold

Posted on April 25, 2024 at 11:40 am GMT

GBPUSD targets a positive close for the week, yet faces crucial resistance levels ahead EURJPY surges to a 16-year high; bears might be around the corner Gold enters tight range; bulls need a clear bounce above $2,325 [..]

Technical Analysis – EURUSD creates bullish channel in near term

Posted on April 25, 2024 at 9:19 am GMT

EURUSD flirts with upper boundary MACD and RSI indicate more upside move EURUSD has been showing a buying interest lately in the 4-hour chart, with the price trying to surpass the upper boundary of the upward sloping channel. The 20- and the 50-period simple moving averages (SMAs) posted a bullish crossover and the technical oscillators are indicating an upside pressure. The RSI is moving north and is approaching the overbought territory, while the MACD is strengthening its positive momentum above [..]

Technical Analysis – USDJPY advances to fresh 34-year high

Posted on April 25, 2024 at 7:55 am GMT

USDJPY trades at its highest level since April 1990 Momentum indicators flag extremely overbought conditions For now, Japanese authorities seem reluctant to intervene USDJPY has been in a steady uptrend after finding its feet near the 200-day simple moving average (SMA) in early March. On Thursday, the pair posted a fresh 34-year peak, extending its rally within a territory that the Japanese authorities were expected to defend. Should bullish pressures persist, the price could storm to fresh multi-year highs before it challenges [..]

Technical Analysis – US 100 index weakness lingers

Posted on April 25, 2024 at 7:46 am GMT

US 100 cash index is in the red, a tad below the 100-day SMA Market sentiment remains bearish ahead of key US data Momentum indicators mostly bearish; all eyes on the stochastic The US 100 cash index is in the red again today, trading a tad below the 100-day simple moving average (SMA) and around 6% lower from its recent all-time high. Despite the moderately positive earnings round, the market momentum remains negative ahead of some key US data prints that [..]

Technical Analysis – AUDUSD rises near short-term SMAs

Posted on April 25, 2024 at 7:13 am GMT

AUDUSD rebounds off 0.6360 Bullish doji indicate upside correction MACD and RSI tick higher AUDUSD is heading upwards after the bullish doji candle that has been posted last Friday, adding almost 3%. The market is challenging the short-term simple moving averages (SMAs), switching the outlook to a neutral one. The technical oscillators are suggesting more upside pressure though. The MACD is crossing above its trigger line in the negative territory, while the RSI is trying to jump above the neutral [..]

Technical Analysis – Alphabet stock is buoyant ahead of earnings

Posted on April 24, 2024 at 2:27 pm GMT

Alphabet shares surge to consecutive all-time highs Momentum indicators are approaching overbought zones This poses asymmetric risks for the upcoming earnings report Alphabet’s shares have been in a steady uptrend since October 2022, posting a fresh all-time high of 161.65 on April 12. Despite a minor downside correction, the price has been advancing again ahead of the Q1 earnings announcement on Thursday. To the upside, stronger-than-expected financials could propel the price towards the recent record high of 161.55. Surging to [..]

Technical Analysis – EURCHF heads up after bearish spike

Posted on April 24, 2024 at 9:45 am GMT

EURCHF recovers some ground Price has strong rebound off 200-day SMA Oscillators suggest upside momentum EURCHF is developing the third consecutive green day after the bearish spike towards the 200-day simple moving average (SMA) and the 0.9560 support level. The market is gaining some ground, surpassing the short-term simple moving averages (SMAs) with the technical oscillators confirming an upside recovery. The RSI is sloping north above the 50 territory, while the MACD is stretching its positive momentum in the positive [..]

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