Technical Analysis / Page 258

Technical Analysis – USDCHF heads south after an impressive bullish day

Posted on April 15, 2022 at 10:10 am GMT

USDCHF has lost its positive momentum after the rebound off the 23.6% Fibonacci retracement level of the up leg from 0.8930 to 0.9460 at 0.9333. The RSI is ticking down in the positive region; however, the MACD is extending its move above its trigger and zero lines. Should the pair stretch south, the 0.9380 barrier could provide immediate support before the pair touches the 23.6% Fibonacci of 0.9333 again. A significant step lower could bring the bearish sentiment back into play, [..]

Technical Analysis – GBPUSD gains capped by 200-period MA, bearish risks rekindled

Posted on April 15, 2022 at 9:45 am GMT

GBPUSD’s fresh drop has stabilized around its 50-period simple moving average (SMA), after the scenario of a sturdy rally was dampened by the descending 200-period SMA and the 1.3156-1.3182 barricade overhead. Furthermore, the negative picture in the pair is being nurtured by the downward demeanour of the SMAs. Currently, the Ichimoku lines are highlighting a state of frail driving forces, while the short-term oscillators are transmitting mixed signals in directional momentum. The MACD, slightly above the zero threshold, is suggesting [..]

Technical Analysis – USDCAD at risk of bearish rotation below 1.2650

Posted on April 15, 2022 at 7:27 am GMT

USDCAD has been fighting its 50- and 200-day simple moving averages (SMAs) within the 1.2625 – 1.2650 zone the entire week without success, increasing speculation that buyers are losing their impetus. The aforementioned restrictive area also encapsulates the support-turned-resistance trendline from June 2021 and the 50% Fibonacci retracement of the 1.2287 – 1.2962 upleg, making a pullback more likely. Yet, currently, technical signals are rather neutral. The RSI is trying to inch back above its 50 neutral mark, whereas the Stochastics have changed direction to the downside after [..]

Technical Analysis – GBPJPY flies to 6-year high; indicators look overbought

Posted on April 15, 2022 at 7:11 am GMT

GBPJPY is flying to a more-than-six-year-high of 165.22 after the bounce off the 159.00 round number. The 20- and 40-day simple moving averages (SMAs) are following the current market action confirming the strong bullish rally. The technical indicators are looking overbought as the RSI is standing above the 70 level and the MACD is extending its move above its trigger and zero lines. An extension to the upside and above the intraday high, the price could meet the area near [..]

Technical Analysis – ETHUSD rebounds after 50-SMA rejects decline; bias bearish

Posted on April 14, 2022 at 1:06 pm GMT

ETHUSD (Ethereum) has been experiencing a downside correction after its short-term uptrend stalled at the 3,590 region last week. Although the 50-day simple moving average (SMA) paused the price’s recent pullback, it seems like the cryptocurrency lacks the necessary momentum to push higher. The short-term oscillators reflect that bearish forces retain control. The MACD histogram is currently below its red signal line but above zero, while the RSI is hovering beneath its 50-neutral threshold. Should negative momentum intensify further, the [..]

Technical Analysis – AUDJPY advances take a breather above moving averages

Posted on April 14, 2022 at 11:51 am GMT

AUDJPY is tiptoeing beneath the established 93.85-94.30 resistance barricade that has muted positive developments ever since the pair corrected to the 91.00 level, which is the 23.6% Fibonacci retracement level of the 80.36-94.30 up leg. Nonetheless, the bullish simple moving averages (SMAs) continue to defend the two-and-a-half-month uptrend from 80.36, which is finding some difficulty in reigniting upside momentum beyond the 6¾-year high. Currently, the neutral Ichimoku lines are suggesting that positive driving forces have dried up, while the short-term [..]

Technical Analysis – GBPCAD creeps up, eyeing the falling 200 MA

Posted on April 14, 2022 at 8:36 am GMT

GBPCAD is sustaining its moderate bullish strides from the recently recorded two-and-a-half-year low of 1.6292, which has now steered the price over the Ichimoku cloud and the 50- and 100-period simple moving averages (SMAs). The unwavering bearish 200-period SMA continues to promote the downtrend. Meanwhile, the softened decline of the 100-period SMA, along with the gradual incline in the 50-period SMA, suggests the price may hike towards the 1.6548 level, which is the 23.6% Fibonacci retracement level of the down [..]

Technical Analysis – AUDUSD stuck below 20-SMA; short-term outlook still fragile

Posted on April 14, 2022 at 7:30 am GMT

AUDUSD recouped most of Wednesday’s losses to stay within the 0.7400 zone after stepping on the resistance-turned-support trendline. Despite that, bullish actions were limited as the 20-day simple moving average (SMA) prevented any increases above 0.7480. This line continues to block the way higher so far on Thursday, questioning the upside reversal in the RSI and the Stochastics. The MACD remains negatively charged below its red signal line, feeding some caution as well. As regards the market trend, however, the golden cross between the 50- [..]

Technical Analysis – WTI futures touch SMAs, returning above uptrend line

Posted on April 14, 2022 at 6:43 am GMT

WTI crude oil futures have successfully climbed beyond the medium-term ascending trend line again and found strong resistance around the 20- and 40-day simple moving averages (SMAs). However, the RSI indicator is mirroring the latest decline of the commodity and is touching the neutral threshold of 50, while the MACD is holding slightly below its trigger and zero lines. In the event of an upside reversal and a surge above the short-term SMAs, the 116.60 resistance level could act as a barrier before [..]

Technical Analysis – US 30 index bounces on 200 MA but downside risks linger

Posted on April 13, 2022 at 1:48 pm GMT

The US 30 stock index (Cash) rebounded on the 200-period simple moving average (SMA) at 34,146, as sellers tried to intensify the two-week deterioration in the index from the 35,378 price region. The converging longer-term 100- and 200-period SMAs are not reflecting a dominant trend, while the falling 50-period SMA, is endorsing the negative price action. Currently, the short-term oscillators are suggesting that a bearish tone is lingering. The MACD, is below the zero mark and has returned slightly beneath [..]

Legal disclaimer: The material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instruments. XM accepts no responsibility for any use that may be made of these comments and for any consequences resulting in it. No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. The research and analysis does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it.

It has not been prepared in accordance with legal requirements designed to promote the independence of research, and as such it is considered to be marketing communication. Although we are not specifically constrained from dealing ahead of the publication of our research, we do not seek to take advantage of it before we provide it to our clients. We aim to establish, maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. We operate a policy of independence, which requires our employees to act in our clients’ best interests and to disregard any conflicts of interest in providing our services.

CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losing all of your invested capital, so please make sure that you fully understand the risks involved.

Technical Analysis

XM Live Chat