Technical Analysis / Page 244

Technical Analysis – GBPUSD pulls lower after nearing 2020 barrier

Posted on May 31, 2022 at 11:49 am GMT

GBPUSD is marking a negative day after its four-day gradual bull run met resistance near the 1.2653 zone, which is marginally below the low from September 2020. The short-term bias is viewed as neutral as the RSI is diminishing towards its 50 neutral mark after barely peeking above it, while the MACD has yet to enter the positive territory despite increasing its distance well above its red signal line. The Stochastics are losing steam, but they haven’t exited the overbought territory yet. [..]

Technical Analysis – EURJPY battles to fuel bullish bias

Posted on May 31, 2022 at 8:56 am GMT

EURJPY’s recent positive legs from the 135.00 handle are now struggling to overcome the early May highs, which are being reinforced by the upper Bollinger band overhead. Despite the waning in positive forces, the advancing simple moving averages (SMAs) are backing the bullish structure. The short-term oscillators are suggesting buyers are in control but are reflecting the latest weakness in upside momentum around the 137.70-138.38 resistance section. The MACD is slightly north of the zero threshold and is holding above [..]

Technical Analysis – Facebook stock rangebound but bullish bias arises

Posted on May 31, 2022 at 8:09 am GMT

Facebook’s stock has been moving without a clear direction in the past two weeks after its short-term advance ceased at the 224.00 region. However, in the last couple of daily sessions, the stock has gained some traction as positive momentum appears to be strengthening. The momentum indicators reflect a cautiously bullish tone for the stock. The stochastic oscillator is ascending steeply, while the RSI is challenging its 50-neutral threshold. If buying pressure intensifies further, the price could encounter resistance at 205.00, [..]

Technical Analysis – AUDUSD’s sturdy two-week rally tries to keep pace

Posted on May 30, 2022 at 2:34 pm GMT

AUDUSD is starting to ease from the upper Bollinger band that is around the 0.7200 hurdle, after recent price action, which was glued to the upper Bollinger band, hiked the price above the falling 200-period simple moving average (SMA). The softened decline in the slopes of the 100- and 200-period simple moving averages (SMAs) is highlighting the latest successful efforts from buyers, who have recouped nearly 400 pips. Moreover, the climbing 50-period SMA is championing additional gains in the pair. [..]

Technical Analysis – GER 40 index posts 5-week high after rebound off 13,270

Posted on May 30, 2022 at 12:00 pm GMT

The German 40 cash index is continuing last week’s rebound but with slower momentum, reaching a five-week high near 14,600. The short-term bias looks positive as the MACD keeps gaining ground above its trigger line, while the RSI seems to be making its way up above its 50-neutral mark, though more progress is needed from the latter. The 15,000 could be a trigger point for steeper bullish action if the index manages to break the 14,600 line. Even higher, the 200-day [..]

Technical Analysis – EURUSD tests March boundary; bias encouraging

Posted on May 30, 2022 at 9:46 am GMT

EURUSD opened with low volatility on Monday, remaining muted marginally below the 50-day simple moving average (SMA) and the 1.0768 key resistance level for the fifth consecutive session after securing two bullish weeks. Despite the ongoing restrictions on the upside, the latest bounce on the former boundary of 1.0640 keeps buying interest alive. The momentum indicators are sending positive vibes as well; the MACD is trying to expand in the positive area for the first time since February, while the [..]

Technical Analysis – USDJPY holds within ascending channel in near term

Posted on May 30, 2022 at 9:39 am GMT

USDJPY is trying to create an ascending channel in the short-term, with strong resistance near the 127.56 barrier. The latest higher lows are showing some improvement and the moving averages are turning higher as well. The MACD oscillator is strengthening its positive momentum, while the RSI is surpassing above the neutral threshold of 50. In case of an upward attempt, USDJPY would likely meet resistance at the 127.56 barrier, before posting a higher high at 128.30 and at the 200-period [..]

Technical Analysis – Gold’s propelling forces pause above 200-day SMA

Posted on May 30, 2022 at 9:04 am GMT

Gold is consolidating between the 1,837 and the 1,868 barriers, which are the 23.6% and the 38.2% Fibonacci retracement levels of the down leg from 1,998 until 1,786. The price is trading above its mid-Bollinger band at 1,848, after finding footing off the 200-day simple moving average (SMA) at 1,840. The SMAs are painting a picture that is lacking a clear trend, as the 100- and 200-day SMAs are sponsoring a positive bearing, while the falling 50-day SMA is aiming [..]

Technical Analysis – EURCHF consolidates near 50-SMA but downside risks linger

Posted on May 30, 2022 at 8:13 am GMT

EURCHF experienced a sharp decline after it failed to clearly jump above its 200-day simple moving average (SMA). However, in the last few daily sessions, the pair managed to find moderate support near its 50-day SMA, and is currently fluctuating around this level. The momentum indicators suggest that bearish forces are in control. Specifically, the MACD histogram is below both zero and its red trigger line, while the RSI has dipped beneath its 50-neutral threshold. Moreover, the price action fell [..]

Technical Analysis – US 500 index surges within short-term SMAs; bullish bias

Posted on May 30, 2022 at 7:07 am GMT

The US 500 cash index has advanced considerably over the last couple of days, reaching the 40-day simple moving average (SMA). The failed attempt by the price to drop below the 3,810-3,860 support zone, drove the technical indicators higher as well. The RSI is rising above the neutral threshold of 50, while the MACD is moving above its trigger line and below its zero level. Should the pair manage to strengthen its positive momentum, the next resistance could come around 4,210, which overlaps with the 40-day SMA. [..]

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