Technical Analysis / Page 240

Technical Analysis – EURJPY bounces off 23.6% Fibo and jumps above 140.00

Posted on June 14, 2022 at 6:36 am GMT

EURJPY is rebounding off the 23.6% Fibonacci retracement level of the up leg from 124.40 to 144.25 at 139.55 and is returning above the 140.00 round number. According to the MACD, negative momentum could push for further losses in the short-term as the indicator tries to fall below its trigger line. However, the RSI is advancing and is holding above its neutral threshold of 50, confirming the latest bullish movement. On the upside, resistance could occur around the more-than-seven-year-high of 144.25 [..]

Technical Analysis – GBPUSD bearish outlook worsens; signals discouraging

Posted on June 14, 2022 at 6:35 am GMT

GBPUSD switched to a recovery mode on Monday following last week’s brutal sell-off, which worsened the broad outlook and squeezed the price to a new two-year low of 1.2100. The previous low of 1.2154 is currently limiting upside pressures as the momentum indicators provide little hope for a meaningful rally. Explaining that, the slight upturn in the RSI is not convincing yet since the indicator remains well dipped in the bearish area, while the negative slope in the Stochastics suggests that the bears [..]

Technical Analysis – EURUSD deepens bearish bias as key support breached

Posted on June 13, 2022 at 6:56 am GMT

EURUSD is extending its slide for a third straight day on Monday, dropping below the 1.0485 level, which acted as an important support barrier in late April/early May. The price has currently steadied near this congestion point, but momentum indicators suggest more losses are likely. The MACD histogram has fallen below zero, increasing its distance below the red signal line, which is also turning southwards. The stochastics are plunging too, but although the %K line is deep in oversold territory [..]

Technical Analysis – GBPUSD tumbles after stronger US CPI print

Posted on June 10, 2022 at 1:16 pm GMT

GBPUSD has been in a downtrend after it failed to jump beyond the 1.2600 region, generating a profound structure of lower highs and lower lows. Additionally, the price has sharply dropped beneath both the 200-period simple moving average (SMA) and the lower Bollinger band, endorsing a broader bearish short-term picture. The short-term oscillators also confirm that bearish forces are in total control. Specifically, the RSI has entered its 30-oversold area, while the MACD histogram is currently beneath both zero and [..]

Technical Analysis – USDCHF surpasses short-term SMAs, suggesting bullish bias again

Posted on June 10, 2022 at 9:06 am GMT

USDCHF is trading above the bearish crossover of the short-term simple moving averages (SMAs), suggesting that the negative movement may come to an end. The MACD is gaining some momentum above its trigger and zero lines, while the stochastic is standing in the overbought region. On the upside, the price could attempt to meet the 1.0064 three-year peak before posting a higher high. Should traders continue to buy the pair above that peak, bringing the long-term uptrend back into play, [..]

Technical Analysis – BTCUSD rangebound but downside risks remain

Posted on June 10, 2022 at 7:53 am GMT

BTCUSD has been trading within a tight range during the past month, unable to adopt a clear direction. However, the descending 50- and 200-day simple moving averages (SMAs) are painting a gloomy technical picture for the cryptocurrency. The short-term oscillators also indicate a cautiously bearish near-term bias. Specifically, the RSI is dipping beneath its 50-neutral threshold, while the MACD histogram has crossed above its red signal line but remains in the negative territory. Should selling interest intensify, 29,200 could act as [..]

Technical Analysis – GBPJPY set for a corrective decline

Posted on June 10, 2022 at 7:44 am GMT

GBPJPY is setting the stage for its next bearish phase after its latest explosive rally topped at a new six-year high of 168.70 and near April’s peak. The RSI is also pivoting near its 70 overbought mark, while the Stochastics are reversing southwards within the overbought zone too, suggesting that the bull run is overextended and it’s time for a downside correction. It’s worthy to note that the price has been trading along the upper Bollinger band since the start [..]

Technical Analysis – USDCAD fails to continue yesterday’s aggressive bullish rally

Posted on June 10, 2022 at 7:08 am GMT

USDCAD had an aggressive bullish rally on Thursday, moving towards the 1.2700 psychological number, but the Canadian employment report later in the day may strengthen the loonie. The pair is flirting with the 20-day simple moving average (SMA) and is failing to continue the buying interest. Technically, the MACD oscillator is gaining momentum above its trigger line and below the zero level, while the RSI is appearing flat near the neutral threshold of 50. In trend indicators, the 20- and the 40-day [..]

Technical Analysis – EURUSD turns neutral in symmetrical triangle, holding above 1.0700

Posted on June 9, 2022 at 11:49 am GMT

EURUSD is struggling within a symmetrical triangle in the short-term, hovering above the 20- and 40-period simple moving averages (SMAs) near the 1.0700 round number. The momentum indicators in the four-hour chart, though, are currently supporting that the neutral-to-positive momentum is likely to strengthen in the short-term. Specifically, the RSI is picking up speed above 50 and the MACD stands above its trigger and zero lines. Should the price decisively close above the roof of the symmetrical triangle seen at 1.0735, the bulls could extend the [..]

Technical Analysis – US 30 index appears neutral in near-term

Posted on June 9, 2022 at 8:20 am GMT

The US 30 cash index has been consolidating since it topped at the 33,480 resistance level. The neutral to bearish picture in the short term looks to last for a while longer as prices are developing within the 20- and 50-day simple moving averages (SMAs) as well. The RSI indicator is flattening in the positive region, while the MACD fails to show some signs for a clearer directional move on price. Resistance was met at around the 33,840 region, forcing [..]

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