Technical Analysis / Page 256

Technical Analysis – EURAUD stands in neutral phase in near term

Posted on April 21, 2022 at 9:30 am GMT

EURAUD has been moving sideways since the rebound on the five-year low of 1.4320, unable to fully recover losses made earlier this month. The RSI indicator is ticking down in the negative territory, while the MACD is standing above its trigger line in the bearish zone. An extension to the upside and above the 1.4680 key level could meet the area between the 23.6% Fibonacci retracement level of the down leg from 1.6220 to 1.4320 at 1.4770 ahead of the [..]

Technical Analysis – AUDUSD bullish bearing intact with bounce off 50-day SMA

Posted on April 21, 2022 at 9:09 am GMT

AUDUSD is confronting the mid-Bollinger band at 0.7466 after unearthing fresh positive traction off the rising 50-day simple moving average (SMA), which appears to have rescued the minor twelve-week uptrend that evolved from the 0.6963-0.6994 support base that stretches back to July 2020. While the 200-day SMA proposes a more neutral trajectory, the rising 50- and 100-day SMAs are endorsing the upward trend in the pair. Currently, the short-term oscillators are suggesting that recent negative momentum in the pair has [..]

Technical Analysis – GBPJPY hangs near 6-year highs; are the bulls done?

Posted on April 21, 2022 at 7:48 am GMT

GBPJPY eased off after its exciting rally paused at a new six-year high of 168.41 on Wednesday, but the price continued to trade around its recent highs early on Thursday, feeding optimism that the bull run has not peaked yet. From a technical perspective, a downside correction could be nearing as the price has already completed two daily sessions above the upper Bollinger band, while the RSI and the Stochastics have been hovering above their overbought levels for almost two [..]

Technical Analysis – JP 225 index struggles to gain more ground

Posted on April 21, 2022 at 7:29 am GMT

The JP 225 cash index found support around the 50-day simple moving average (SMA) over the last few sessions, remaining above 27,000. The boost from the 26,242 support helped the price to move higher, as the stochastic oscillator is approaching the overbought region with weak momentum. However, the RSI is flattening near its neutral threshold of 50. Should the index manage to strengthen its positive momentum, the next resistance could come around the 100-day SMA currently at 27,489 before meeting [..]

Technical Analysis – AUDJPY upside intact despite pullback off 138.2% Fibo extension

Posted on April 20, 2022 at 2:35 pm GMT

AUDJPY is residing at the red Tenkan-sen line at 94.95 after retreating from the 95.73 mark, which is a level two months short of being a seven-year high, and in the vicinity of the 138.2% Fibonacci extension of the down leg from 94.30 until 90.74. The climbing simple moving averages (SMAs) are defending the broader positive structure. Meanwhile, the Ichimoku lines are reflecting a stall in bullish forces, while the short-term oscillators are indicating an increase in negative momentum. The [..]

Technical Analysis – Tesla stock moves sideways ahead of Q1 earnings

Posted on April 20, 2022 at 10:24 am GMT

Tesla’s stock has been edging higher after its medium-term decline halted at the 710 region in mid-February. Nevertheless, in the past week the price has been moving sideways since its upside move stalled at 1,150. The momentum indicators suggest that bullish forces still hold the upper hand. The stochastic oscillator is sloping upwards, while the RSI has crossed above its 50-neutral mark. Should buying interest intensify and the price head north, immediate resistance could be encountered at the 1,070 barrier. Higher, [..]

Technical Analysis – USDCHF heads south after peaking at 22-month high

Posted on April 20, 2022 at 9:57 am GMT

USDCHF has been underperforming today, returning below the key 22-month high of 0.9535 that was reached on Tuesday. When looking at the bigger picture, the pair has been developing within an uptrend since June 2020. The RSI’s momentum is too weak to provide a sustained move higher as it is showing some overbought signs. However, the MACD is stretching its positive move above its trigger and zero lines. If price action remains above 0.9460 (immediate support), there is scope to test the latest high of 0.9535. Clearing this key level would [..]

Technical Analysis – USDJPY advances curbed by 129 handle, but bullish tone holds

Posted on April 20, 2022 at 8:42 am GMT

USDJPY has recorded a 20-year high of 129.40 within the 129.00-129.57 resistance area, shaped by the highs from the first half of May 2002 and the latter being the inside swing low from mid-April 2002. Currently, the pair is exhibiting a pause in its near two-month rally from 114.40 but the climbing simple moving averages (SMAs) continue to sponsor the sturdy bullish trend. Furthermore, the rising Ichimoku lines are endorsing persisting upside forces, while the short-term oscillators are reflecting the [..]

Technical Analysis – Microsoft stock halts decline but bearish bias holds

Posted on April 20, 2022 at 8:20 am GMT

Microsoft’s stock has been trending lower in the medium term, generating a profound structure of lower highs and lower lows. Although the price recently managed to find its feet and recoup part of its losses, the stock has been losing ground again after further advances were rejected at the 315.00 region in mid-March. The momentum indicators suggest that bearish forces remain in control. The MACD histogram is currently below both zero and its red signal line, while the RSI is [..]

Technical Analysis – Gold declines further after breaking uptrend line and 200-period SMA

Posted on April 20, 2022 at 7:44 am GMT

Gold prices have been tumbling beneath the short-term uptrend line over the last couple of sessions as well as below the 200-period simple moving average (SMA). The 20- and 40-period SMAs are ready for a bearish crossover after the aggressive selling interest from 1,998. According to the technical indicators, the RSI is approaching the oversold territory with stronger momentum than before, while the MACD is strengthening its bearish movement below its trigger and zero lines. Both are confirming the negative [..]

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