Technical Analysis / Page 246

Technical Analysis – Gold retreats but bullish short-term structure remains intact

Posted on May 25, 2022 at 2:43 pm GMT

Gold has been experiencing a minor pullback in the last few four-hour sessions since its recent uptrend failed to cross above the 1,870 region. Although the precious metal appears to be running out of steam, its technical picture remains positive in the short term. The momentum indicators suggest that bearish pressures have emerged. More specifically, the stochastic oscillator is sloping downwards in the oversold area, while the MACD histogram has dipped beneath its red signal line in the positive region. [..]

Technical Analysis – USDJPY’s retracement opposed by soaring 50-day SMA

Posted on May 25, 2022 at 9:29 am GMT

USDJPY is trading around the lower Bollinger band residing within a support zone which is linking the 127.34 barrier with the rising 50-day simple moving average (SMA) at 126.25, the former being the 23.6% Fibonacci retracement of the uptrend from 114.40 until a high that oversteps the 20-year mark at 131.34. The hiking SMAs are sponsoring the positive structure despite the price fading past the 23.6% Fibonacci level. As things stand, the short-term oscillators are demonstrating mixed messages in directional [..]

Technical Analysis – NZDUSD increases above 0.6500 in short-term bounce

Posted on May 25, 2022 at 7:18 am GMT

NZDUSD is ticking higher above 0.6500 again after the bounce off the two-year low of 0.6214. The technical indicators are showing more positive signs, as the MACD is advancing above its trigger line in the negative region, while the RSI is pointing upwards after the jump above the neutral threshold of 50. Also, the pair advanced above its 20-day simple moving average (SMA), confirming the recent positive bias in the short-term. A move to the upside may meet resistance around 0.6570, [..]

Technical Analysis – AUDUSD experiences pullback but holds positive structure

Posted on May 24, 2022 at 2:36 pm GMT

AUDUSD has been in a sustained uptrend after its downside move halted at the two-year low of 0.6828. Although the price advance has ceased in the last few four-hour sessions, the pair retains its bullish near-term bias. The momentum indicators suggest that bullish forces are in control. Specifically, the RSI is flatlining in the positive region, while the stochastic oscillator ascends after exiting the oversold area. Should buying interest intensify, the price could encounter initial resistance at the recent high [..]

Technical Analysis – GBPUSD’s broader bearish bias under the microscope

Posted on May 24, 2022 at 9:01 am GMT

GBPUSD is struggling to climb towards the upper Bollinger band which is residing within the 1.2633-1.2690 resistance zone following a price bounce in the vicinity of the 1.2160 support, logged back in May 2020. The diving simple moving averages (SMAs) are still backing the downward trend despite significant developments in the pair, after bouncing around two-year low levels. Lately, the short-term oscillators have been indicating a constant dwindling in negative momentum, but sellers are starting to push back. The MACD [..]

Technical Analysis – EURJPY finds some rest near the short-term SMAs

Posted on May 24, 2022 at 7:11 am GMT

EURJPY is holding above the bullish crossover within the 20- and 40-day simple moving averages (SMAs) but the current momentum is negative. The RSI indicator is pointing downwards around the neutral threshold of 50; however, the stochastic oscillator is approaching the overbought territory, showing some signs for more increases. If the market manages to pick up speed, the 138.00 psychological number could offer nearby resistance ahead of the almost seven-year high of 140.00. A significant close above the latter would [..]

Technical Analysis – EURCHF halts decline but retains bearish bias

Posted on May 23, 2022 at 2:42 pm GMT

EURCHF experienced a sharp decline after it failed to profoundly jump above its 200-day simple moving average (SMA). However, the price managed to find its footing at the 50-day SMA, which appears to be providing a strong floor for the pair. The momentum indicators suggest that bearish forces remain in control. Specifically, the MACD histogram is positive but below its red trigger line, while the RSI has dipped beneath its 50-neutral threshold. Should negative momentum strengthen and the price dive [..]

Technical Analysis – US 500 index’s downside bearing curbed as buyers step in

Posted on May 23, 2022 at 2:24 pm GMT

The US 500 stock index (Cash) is trading near the red Tenkan-sen line at 3,952 following an increase in risk appetite around a recorded 14½-month low of 3,809. The rolling over of the 200-day simple moving average (SMA) is feeding a dampening picture in the index, while the bearish 50- and 100-day SMAs are endorsing the decline from the end of March. The Ichimoku lines are signalling a pause in negative forces, while the short-term oscillators are reflecting the fading [..]

Technical Analysis – EURUSD creates headways in broader bearish outlook

Posted on May 23, 2022 at 10:00 am GMT

EURUSD has breached the key March 2020 trough of 1.0635 after recently acquiring positive legs from the more than five-year recorded low, which came just shy of the January 2017 low of 1.0340. The simple moving averages (SMAs) are nurturing the one-year prevailing downtrend in the pair. The Ichimoku lines are mirroring a pause in the latest downward driving forces. Simultaneously, the short-term oscillators are indicating a clear dwindling in negative momentum. The MACD has detached itself from its red [..]

Technical Analysis – USDJPY rangebound as bearish bias wanes

Posted on May 23, 2022 at 7:52 am GMT

USDJPY has been trending downwards after peaking at the 20-year high of 131.34 in early May. Nevertheless, in the past few four-hour sessions, the pair has managed to halt its decline and is currently moving sideways. The momentum indicators also suggest that negative momentum is cooling off. Specifically, the MACD histogram has jumped above its red signal line but remains in the negative territory, while the RSI is ticking upwards beneath its 50-neutral threshold. Should positive momentum intensify, the pair [..]

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