Technical Analysis / Page 251

Technical Analysis – Disney stock gets shellacked ahead of earnings

Posted on May 10, 2022 at 11:26 am GMT

Disney shares fell without a parachute over the past month, hitting lows last seen in May 2020. The stock is in a clear downtrend, recording a string of consecutive lower lows and lower highs below its moving averages, while also trading within a down-sloping channel this entire year. Momentum oscillators paint an equally grim picture. The RSI is already below its 30 level and sinking, while the MACD remains trapped below its red trigger line. Another push lower by the [..]

Technical Analysis – EU 50 index slides but does not hit new lows

Posted on May 10, 2022 at 9:20 am GMT

The EU 50 index (cash) continues to be dominated by bearish forces, trading below its moving averages and a downtrend line drawn from the January peak. On the bright side, sellers were not strong enough to punch to a new low beneath 3,385, which offers some hope that the selling pressure may be losing power. This sentiment is also reflected in short-term oscillators, where the RSI has rebounded from near its 30 line. The lower Bollinger band has also defended [..]

Technical Analysis – GBPUSD logs 22½-month low before bearish tone pauses

Posted on May 10, 2022 at 8:41 am GMT

GBPUSD is consolidating after its downward trajectory approached the June 2020 low of 1.2250. Nonetheless, the falling simple moving averages (SMAs) are endorsing the bearish bias that unfolded from June 2021, even though downside forces are currently lacking. The Ichimoku lines are indicating that selling has temporarily stalled, while the negative bias in the short-term oscillators has yet to be overturned. The MACD is signalling that sellers are not surrendering control, while the negative charge in the stochastic oscillator is [..]

Technical Analysis – NZDJPY slices below 50-day average, is the rally over?

Posted on May 10, 2022 at 7:28 am GMT

NZDJPY experienced a very sharp drop in recent sessions, sliding below its 50-day moving average to find support near its lower Bollinger band. The uptrend that started in late January seems to be unravelling as the pair has printed lower lows and lower highs, particularly on shorter timeframes. Short-term oscillators paint a picture of a slightly bearish market. The RSI has stabilized a little, albeit below its neutral 50 line, while the MACD is stuck below its red trigger line. [..]

Technical Analysis – EURJPY fails to increase above 138.00; shows some positive signs

Posted on May 10, 2022 at 6:48 am GMT

EURJPY gained little this week and remained above the 20-day simple moving average (SMA). The price is finding strong resistance obstacle near the 138.00 psychological mark and any advances above this critical level would endorse the positive bias. The RSI is confirming the recent weak to bullish momentum as it is holding above its 50 level, while the stochastic oscillator completed a positive cross within its %K and %D lines. If the price fails to rise over the 138.00 level, [..]

Technical Analysis – US 100 index extends losses within bear market

Posted on May 9, 2022 at 2:20 pm GMT

The US 100 cash index (Nasdaq) came under renewed pressure in recent sessions, sinking to a fresh one-year low. Sellers are firmly in control with a series of lower highs and lower lows forming on the daily chart, the moving averages turning lower, and the price testing the lower Bollinger band. Short-term oscillators reflect the sharp selloff, with the RSI turning lower to approach its 30 zone while the MACD has crossed beneath its red trigger line. In case the [..]

Technical Analysis – EURUSD buyers struggle to make advances

Posted on May 9, 2022 at 9:22 am GMT

EURUSD is tiptoeing around more than five-year low levels and the pair’s efforts to improve seem to be to no avail, leaving no fingerprint of clear gains as the bearish bias overwhelms. That said, the falling simple moving averages (SMAs) are endorsing the downward trajectory in the pair. Currently, the downward sloping Ichimoku lines are indicating that the sellers are active, while the short-term oscillators are now transmitting mixed messages in directional impetus. The MACD is reflecting easing in negative [..]

Technical Analysis – USDJPY continues its strong bullish phase, hits new 20-year high

Posted on May 9, 2022 at 9:15 am GMT

USDJPY has climbed to a new 20-year high today, reaching the 131.34 level. In the short-term, the market could retain the bounce off the 128.60 support as the MACD remains above its zero and trigger lines, while the RSI is approaching the overbought region in the 4-hour chart. Should the pair stretch north, and the pair completes the session above the 131.25 level, then the next target could be at the 135.20 resistance, taken from the high in January 2002. On the flip side, the 130.16 [..]

Technical Analysis – Gold shows no intention of altering bearish phase

Posted on May 9, 2022 at 7:52 am GMT

Gold started Monday’s session on the wrong foot of what it could turn into its fourth consecutive week of declines. The 1,870 area is currently buffering selling tendencies, but the momentum indicators are still feeding scepticism. The RSI is struggling to exit the bearish area, while the MACD remains comfortably below its red signal line despite stabilizing lately. Discouragingly, the Stochastics are looking for a negative intersection following the bounce off the oversold region. Adding to the dim signals is the bearish [..]

Technical Analysis – EURCHF completes bullish days; next target at 200-day SMA

Posted on May 9, 2022 at 7:34 am GMT

EURCHF is extending its positive bias from the 1.0190 support, creating the seventh straight green day. The 20- and 40-day simple moving averages (SMAs) posted a bullish crossover in the near-term, confirming the bullish movement. The MACD oscillator is extending its move above its trigger and zero lines, while the RSI is approaching the overbought territory. Should the pair make another run higher, it’s likely to meet resistance at 1.0460 before meeting the 200-day SMA at 1.0490. A successful break above this [..]

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