Technical Analysis / Page 260

Technical Analysis – GBPUSD builds floor around 1.3000; bias bearish

Posted on April 12, 2022 at 7:27 am GMT

GBPUSD keeps hovering with weak momentum marginally above the 1.3000 level despite its flash slide to a new 16-month low of 1.2981 last Friday. The bearish bias remains intact as the RSI is maintaining a clear negative trajectory and is still some distance above its 30 oversold level. The Stochastics are preparing for another negative intersection, while the MACD is gradually stepping below its red signal line, all painting a blurry short-term picture for the market. The 1.3000 floor, however, could act as a [..]

Technical Analysis – EURJPY shines again, moving towards 6½-year high

Posted on April 12, 2022 at 7:25 am GMT

EURJPY posted an impressive bullish rally in the previous couple of days, moving towards the six-and-a-half year high of 137.50. The pair found strong support at the 134.25 barrier and the 23.6% Fibonacci retracement level of the up leg from 124.45 to 137.50 at 134.43. The technical indicators are currently feeding prospects for a possible negative short-term the RSI holds well above 50 but found an obstacle near the 70 level, while the MACD continues to strengthen in bullish territory and below its red trigger [..]

Technical Analysis – US 500 index’s positive tone shaky near 38.2% Fibonacci

Posted on April 11, 2022 at 12:58 pm GMT

The US 500 stock index (Cash) is consolidating slightly north of the 4,446 level, which is the upper part of a support border and coincidentally the 38.2% Fibonacci retracement level of the up wave from 4,137 until 4,638. The rolling over of the 50-period simple moving average (SMA) and its nearing of a bearish crossover of the still climbing 100-period SMA, is reinforcing the waning in the index, and specifically weakness in the latest two-week rally. Currently, the horizontal Ichimoku [..]

Technical Analysis – USDJPY’s bullish bias under the microscope

Posted on April 11, 2022 at 9:36 am GMT

USDJPY has pushed higher today, overstepping the 125.00 handle, to the more than six-and-a-half-year high of 125.10 after the three-week rally from 114.64. The pair is challenging the crucial 125.00-126.00 resistance barricade that extends back to June 2002. The climbing simple moving averages (SMAs) are endorsing the broader positive structure. Furthermore, the rising Ichimoku lines are indicating that positive forces remain activated, while the short-term oscillators are reflecting the renewal of upside momentum. The MACD, some distance above the zero [..]

Technical Analysis – EURCHF gains traction as positive momentum strengthens

Posted on April 11, 2022 at 7:52 am GMT

EURCHF has been trending downwards since mid-March when the price peaked at the 1.0400 region. However, the pair managed to halt its decline and has adopted a sideways pattern in the last 10 days. The momentum indicators suggest that bullish forces have gained the upper hand. The stochastic oscillator is ascending in the overbought area, while the RSI has jumped above its 50-neutral threshold. Nevertheless, the price is currently trading below the Ichimoku cloud, indicating that the short-term picture has [..]

Technical Analysis – EURUSD erases positive gap; signals mixed

Posted on April 11, 2022 at 7:43 am GMT

EURUSD opened with a positive gap slightly above the 1.0900 level on Monday after a bearish week, but gains proved short-lived, with the price inching back below that number to turn negative on the day. Technical signals are mixed. The RSI and the MACD have further extended their decline below their neutral thresholds. On the other hand, the Stochastics seem to have found a bottom in the oversold zone, suggesting a potential upside reversal in the price. Friday’s doji candlestick could also [..]

Technical Analysis – Gold consolidates above short-term SMAs; neutral bias

Posted on April 11, 2022 at 6:41 am GMT

Gold is successfully surpassing the 20- and 40-day simple moving averages (SMAs), which were ready to create a bearish crossover; however, the latest upward move drive the SMAs higher. The price appeared to be neutral over the last month and it is now consolidating within 1,920, which is the 38.2% Fibonacci of 1,680-2,070.40 and the 1,968 resistance. The RSI indicator is slightly pointing down in the positive territory, while the MACD is losing momentum below its trigger line. Immediate resistance to further gains would likely come [..]

Technical Analysis – USDCHF jumps higher, recording significant bullish rally

Posted on April 8, 2022 at 9:34 am GMT

USDCHF is climbing successfully above the 23.6% Fibonacci mark of the up leg from 0.8930 to 0.9460 at 0.9333. The bounce off the 200-day SMA near 0.9200 gave a boost to the pair to post more gains. The RSI is heading north above the neutral threshold of 50, while the MACD is jumping above its trigger line near the zero level. Traders would be eagerly looking for a break above today’s top of 0.9350 to increase buying orders. If that’s the case, [..]

Technical Analysis – GBPJPY improvements curbed by March-May 2016 highs

Posted on April 8, 2022 at 8:59 am GMT

GBPJPY has overstepped the 161.40 level, which is the 23.6% Fibonacci retracement of the up leg from 150.96 until the more than six-year high of 164.63, with a weakened upward drive. Though, on a positive note, the bullish bearing of the simple moving averages (SMAs) is promoting the broader positive structure. However, the pair’s positive momentum generated around the 159.02 low and the 38.2% Fibo of 159.40 appears to be fading ahead of the crucial 162.64-164.09 barricade, something also being [..]

Technical Analysis – GBPUSD extends decline amid lingering bearish forces

Posted on April 8, 2022 at 7:47 am GMT

GBPUSD has been sloping downwards in the four-hour chart after peaking at 1.3297 in mid-March, generating a profound structure of lower highs and lower lows. Moreover, the price is currently trading way below the Ichimoku cloud, while the descending 50- and 200-period simple moving averages (SMAs) are endorsing the pair’s broader bearish short-term structure. The momentum indicators suggest that sellers are holding the upper hand. The MACD histogram is currently beneath zero and its red signal line, while the RSI [..]

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