Technical Analysis / Page 261

Technical Analysis – USDCAD struggles to surpass 38.2% Fibo around 1.2600

Posted on April 8, 2022 at 7:02 am GMT

USDCAD created an impressive bullish rally after the rebound off the 50.0% Fibonacci retracement level of the up leg from 1.2000 to 1.2960 at 1.2485 and is now struggling to surpass the 38.2% Fibonacci of 1.2595 and the 200-day simple moving average (SMA). The RSI indicator is moving sideways at the moment around the neutral threshold of 50, while the MACD is heading north above its trigger line. In case the pair changes its short-term direction to the upside, the bulls will [..]

Technical Analysis – WTI futures’ bearish pressures weigh on positive structure

Posted on April 7, 2022 at 9:28 am GMT

WTI oil futures have reached the 96.00 handle after the black liquid’s price deteriorated over the last two-weeks from the 116.62 level. It appears sellers are governing the commodity and are starting to throw some doubt on the lifespan of the bullish structure. However, this is not being reflected in the rising simple moving averages (SMAs), which continue to endorse a broader positive outlook. The short-term oscillators are skewed to the downside as they are reflecting the recent dominance in [..]

Technical Analysis – US 30 cash index falls further below 61.8% Fibonacci

Posted on April 7, 2022 at 8:58 am GMT

The US 30 cash index is posting some losses after failing to surpass the 61.8% Fibonacci retracement level of the down leg from 36,950.90 to 32,200 at 35,117 and the 200-day simple moving average (SMA).The index is currently testing the 20- and 50-day SMAs with the technical indicators suggesting more downside movements. The RSI is touching the 50 level, while the stochastic is trying to enter the oversold zone. Should the price extend declines, the 34,180 support and the 38.2% [..]

Technical Analysis – Tesla’s stock retreats after advance pauses

Posted on April 7, 2022 at 8:02 am GMT

Tesla’s stock has been storming higher in the short term, erasing most of its decline since the price found its feet at the 710 region in February. However, in the last couple of sessions, the share’s recent rally halted and the price experienced a minor downside correction. The momentum indicators suggest that the near-term picture for the stock is deteriorating, but bearish forces have not gained total control yet. Specifically, the stochastic oscillator is sloping downwards, while the MACD histogram [..]

Technical Analysis – BTCUSD falls below 45,000; bias weakens

Posted on April 7, 2022 at 7:28 am GMT

BTCUSD (Bitcoin) extended its pullback from the 200-day simple moving average (SMA) below the key 45,000 barrier on Wednesday, raising speculation that selling pressures could further grow in the short term. The momentum indicators endorse the negative momentum in the popular crypto as the MACD has slid beneath its dashed signal line, while the RSI is set to cross below its 50 neutral mark. The 50-day SMA is nearby at 41,744 and unless it stands firm, the bears could pick up steam towards the [..]

Technical Analysis – AUDUSD posts some bearish correction in short term

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

AUDUSD is retreating after the aggressive jump towards the ten-month peak of 0.7660 in the previous days. The price reversed back towards the 0.7470 support, having failed to ease below it over the last two weeks. The MACD oscillator dropped beneath its trigger line in the positive region, while the RSI is slowing momentum in the bullish territory. Further declines may meet support around the 0.7440-0.7470 zone, which encapsulates the 20-day simple moving average (SMA). Even lower, support could occur around the 0.7365 barrier, which holds around [..]

Technical Analysis – AUDUSD’s bullish bias intact despite pullback

Posted on April 6, 2022 at 2:51 pm GMT

AUDUSD is resting on the 0.7531-0.7555 support band that includes the mid-Bollinger band after retreating from its nine-and-a-half-month high of 0.7661. The advancing simple moving averages (SMAs) are endorsing the uptrend that began at the beginning of February. Meanwhile, the short-term oscillators currently suggest that positive drive is evaporating. The MACD, in the positive section, is weakening beneath its red trigger line, while the RSI is falling towards the 50 threshold. That said, the stochastic lines are in oversold territory, [..]

Technical Analysis – EURGBP buyers re-emerge after one-week descent

Posted on April 6, 2022 at 1:45 pm GMT

EURGBP is seeing lingering downside risks despite an increase in buying interest around the 0.8327 level, which unfolded slightly below the simple moving averages (SMAs). That said, from the beginning of the year, the broader bearish trend has glided into a trading range that spans from a more than 5½-year low of 0.8202 until the 0.8512 high, and the directionless SMAs are reflecting the prolonged consolidation of the price within these boundaries. Currently, the falling Ichimoku lines are indicating that [..]

Technical Analysis – NZDUSD’s bullish tone persists but ascent gets delayed

Posted on April 6, 2022 at 9:22 am GMT

NZDUSD’s upside momentum has softened above the simple moving averages (SMAs) after a persisting two-month uptrend spiked toward the upper Bollinger band at 0.7033. The negative slopes of the longer-term 200- and 100-day SMAs have eased, while the upturn in the 50-day SMA and its bullish crossover of the 100-day SMA reaffirms that the near-term uptrend from the 0.6528 trough is strengthening. The short-term oscillators are conveying that the recent weakness in upside momentum may be short lived. The MACD, [..]

Technical Analysis – Gold extends sideways move but downside risks remain

Posted on April 6, 2022 at 8:08 am GMT

Gold has been trending downwards since early March when the price peaked at the 19-month high of 2,070. Although the price managed to halt its decline and currently experiences a consolidation phase, the technical picture seems to be deteriorating for the precious metal. The momentum indicators suggest that bearish forces continue to hold the upper hand. Specifically, the MACD histogram is currently beneath both zero and its red signal line, while the RSI is hovering in the negative zone. Should selling [..]

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