Technical Analysis / Page 250

Technical Analysis – US 30 index unlocks new losses towards 14-month low

Posted on May 12, 2022 at 8:18 am GMT

The US 30 cash index is plunging for the sixth consecutive day, straight to a 14-month low of 31,611. The RSI is also in bearish territory below 50 and is clearly pointing down, where another rebound may reduce chances for more price declines. The stochastic oscillator is ready for a bullish cross within its %K and %D lines in the oversold area, indicating that the negative movement may end soon. If the market corrects higher, the bullish action may pause initially near 32,200 before attention [..]

Technical Analysis – BTCUSD falls without a parachute

Posted on May 12, 2022 at 8:08 am GMT

BTCUSD has come under tremendous selling pressure in the past few daily sessions, generating a fresh 16-month low. Overall, the technical picture has started to deteriorate, with a series of lower lows and lower highs forming on the daily chart. The momentum indicators further confirm the bearish near-term bias. The RSI is dipping downwards in the oversold area, while the MACD histogram is currently beneath both zero and its red signal line. Should negative momentum intensify, the price could generate fresh [..]

Technical Analysis – NZDUSD sinks to fresh 2-year low; bearish bias intact

Posted on May 12, 2022 at 7:33 am GMT

NZDUSD switched to a bearish mood again on Thursday after a neutral session, stretching its downtrend to a fresh two-year low of 0.6235. In technical indicators, the MACD remains negatively charged below its red signal line, while the RSI and the Stochastics have no intention of exiting the oversold territory, though they keep a foothold around their previous lows, signaling a cautiously bearish bias. The next opportunity for a rebound could be nearby at 0.6160. This is where market actions faced limitations [..]

Technical Analysis – EURUSD meets 1.0500 again within narrow range

Posted on May 12, 2022 at 6:55 am GMT

EURUSD is continuing the negative momentum within a narrow range of 1.0470-1.0635 in the short-term, flirting with the more-than-five-year low. The 20- and 40-day simple moving averages (SMAs) are flattening, confirming the neutral bias. However, the RSI indicator is heading south below its neutral threshold of 50, while the MACD is extending its negative movement below its trigger and zero lines. Should the price retreat, the 1.0470 level which the bears were unable to break this week could provide immediate [..]

Technical Analysis – Alibaba stock extends downtrend ahead of earnings

Posted on May 11, 2022 at 2:18 pm GMT

Alibaba’s stock has been on the retreat since early 2021, generating a clear structure of lower highs and lower lows. The share’s price is currently trading near both its 2022 lows and its lower Bollinger band, indicating that the technical picture is deteriorating even further. The momentum indicators suggest that bearish forces remain in control. Specifically, the stochastic oscillator is currently flatlining in the oversold area, while the RSI is hovering below its 50-neutral threshold. Should selling pressure persist, the [..]

Technical Analysis – Gold’s descent softens but bearish risks linger

Posted on May 11, 2022 at 2:15 pm GMT

Gold is flirting with the red Tenkan-sen line at 1,848 after registering a three-month low of 1,832. Nevertheless, the falling simple moving averages (SMAs) are endorsing the downward bearing in the precious metal. The Ichimoku lines are reflecting that selling interest has abated to a degree, while the short-term oscillators are demonstrating the present pick up in positive momentum. The rising RSI, and positively charged stochastic oscillator are both promoting additional upside price action. Moreover, the MACD, which is in [..]

Technical Analysis – USDJPY ascent persists around 20-year highs

Posted on May 11, 2022 at 9:12 am GMT

USDJPY continues to defy gravity with its recent two-and-a-half-month rally from 114.40, showing limited signs of slowing down. Reinforcing this viewpoint are the soaring simple moving averages (SMAs). The Ichimoku lines are indicating that positive forces remain active, while the short-term oscillators are reflecting the latest impulses of downward pressures. The MACD is revealing some easing in positive momentum from the beginning of May, while the RSI is gliding lower in the bullish region. Moreover, the stochastic oscillator has regained [..]

Technical Analysis – EURGBP heads sideways below the 5-month high

Posted on May 11, 2022 at 8:41 am GMT

EURGBP is consolidating after a strong upside rally in the preceding sessions, while it is still holding well above the long-term falling trend line. The RSI is losing its positive momentum after the pullback from the overbought region. Also, the stochastic oscillator is ready to create a bearish cross within the %K and %D lines above the 80 level. A reversal to the downside could find immediate support at the 0.8510 level, while below that, the descending trend line around 0.8480 [..]

Technical Analysis – GBPAUD stabilizes, what’s the big picture?

Posted on May 10, 2022 at 2:32 pm GMT

GBPAUD suffered a very sharp decline in recent months, sinking to fresh 4-year lows. That said, the pair has rebounded and a double bottom pattern seems to have formed on the daily chart. Momentum indicators on the weekly chart mirror the latest bounce in the price action, with the RSI bouncing off its 30 line and the MACD looking ready to cross back above its red trigger line. If the bulls remain in the driver’s seat and manage to pierce [..]

Technical Analysis – AUDUSD bounces near 0.69 mark, but bearish risks linger

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

AUDUSD is confronting the falling red Tenkan-sen line at 0.6971 after finding fresh positive footing between the 0.6921 base, formed over the first half of July 2021, and the 0.6900 handle. Despite new positive forces, the falling simple moving averages (SMAs) are endorsing the negative picture that evolved around the beginning of April. The Ichimoku lines are indicating that downward pressures remain active, while the short-term oscillators are reflecting mixed messages in directional momentum. The MACD is flattening, implying some [..]

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