Technical Analysis / Page 262

Technical Analysis – USDJPY continues the strong rebound off 121.27

Posted on April 6, 2022 at 7:00 am GMT

USDJPY is bouncing off the 121.27 support level, testing the 123.75 level. The price is moving far away from the medium-term ascending trend line, with the technical indicators confirming this view. The RSI is holding around the 70 overbought region with weak momentum, while the stochastic oscillator is heading north after the bullish crossover within the %K and %D lines. On the upside, the price could attempt to overcome the 123.75 resistance, taken from the peak in November 2015, which [..]

Technical Analysis – JP 225 index rangebound after upside move stalls

Posted on April 5, 2022 at 2:58 pm GMT

The JP 225 stock index (cash) has been edging higher in the short term after its long-term downtrend halted at the 16-month low of 24,500. Although the price has managed to erase a significant part of its decline, it currently appears to be lacking the necessary momentum to propel even higher. The short-term oscillators also reflect a loss of steam for the index. The RSI is pointing downwards slightly above the 50-neutral mark, while the MACD histogram has just crossed below [..]

Technical Analysis – EURJPY’s uptrend active despite retreat from 6½-year high

Posted on April 5, 2022 at 9:10 am GMT

EURJPY is consolidating around the 135.00 handle after its recent pullback and has found its feet around the 134.44 level, which is the 23.6% Fibonacci retracement of the one-month rally from 124.38 until the 6½-year high of 137.53, the latter being a high that marginally breached the February 2018 peak of 137.49. Currently, the climbing 50- and 100-day simple moving averages (SMAs) do not reveal significant concerns in positive pressures, thus continuing to endorse the bullish trend. The short-term oscillators [..]

Technical Analysis – US 100 index in battle with 200-SMA; bias bullish

Posted on April 5, 2022 at 7:47 am GMT

The US 100 stock index (cash) returned to test its flattening 200-day simple moving average (SMA) at 15,180 after its mild three-day sell-off paused at 14,800. The tech-driven index has completed three bullish weeks, retracing more than half of its previous downtrend, and another one is in progress as the 20- and 50-day SMAs are marking a positive crossover. Despite their recent deceleration, the momentum indicators keep fluctuating within the bullish area, with the RSI remaining comfortably above 50 and [..]

Technical Analysis – Twitter’s stock jumps 27% after Musk’s announcement

Posted on April 5, 2022 at 7:20 am GMT

Twitter’s stock has been trending downwards since last October, generating a clear structure of lower highs and lower lows. However, the share price managed to recoup more than half of these losses after gaining almost 27% on Monday. The momentum indicators suggest that bullish forces have gained control. The stochastic oscillator is ascending steeply after posting a bullish crossover, while the MACD histogram is currently beyond both zero and its red signal line. Should buying interest intensify further, the 200-day [..]

Technical Analysis – GBPUSD challenges the 20-day SMA above 1.3100; outlook still bearish

Posted on April 5, 2022 at 6:34 am GMT

GBPUSD is developing near the 20-day simple moving average (SMA) and below the significant barrier of the 23.6% Fibonacci retracement level of the down leg from 1.3750 to 1.3000 at 1.3175. Over the last month, the price has been neutral as it failed to post a lower low or a jump above the previous high near 1.3300. The momentum indicators in the daily chart though are currently suggesting that positive momentum is likely to strengthen in the short-term. Specifically, the [..]

Technical Analysis – Gold consolidates around 50% Fibonacci level

Posted on April 4, 2022 at 8:55 am GMT

Gold has stabilized around the 1,925 level, which is the 50.0% Fibonacci retracement of the near six-week rally from 1,780 until the 19-month high of 2,070. The rising simple moving averages (SMAs) continue to endorse the bullish trend in the commodity. Meanwhile, the picture painted by the short-term oscillators is one of conflicting signals in directional momentum. The MACD is indicating that positive momentum continues to wane as it glides beneath its red trigger line towards the zero threshold. Currently, [..]

Technical Analysis – USDJPY struggles near 23.6% Fibonacci; shows weak momentum

Posted on April 4, 2022 at 8:42 am GMT

USDJPY is finding a significant obstacle around the 23.6% Fibonacci retracement level of the upward wave from 114.65 to 125.10 at 122.62 after surpassing the 20- and 40-period simple moving average (SMA). Regarding the technical indicators, the MACD jumped above its trigger and zero lines in the short-term timeframe, while the RSI is flattening above the neutral threshold of 50. In case of an upward attempt, USDJPY would likely meet resistance at the 23.6% Fibonacci of 122.62 and the 123.04 [..]

Technical Analysis – US 500 index loses ground but retains bullish structure

Posted on April 4, 2022 at 8:08 am GMT

US 500 stock index (cash) has been marching higher since the beginning of March, generating a clear structure of higher highs and higher lows. Although the price has experienced a minor pullback in the last few sessions, the technical picture suggests that the short-term picture remains positive. The momentum indicators confirm that despite the recent retreat, bearish forces have not yet managed to gain the upper hand. Specifically, the stochastic oscillator is descending, whereas the MACD histogram is currently both [..]

Technical Analysis – EURUSD creates bullish correction in the short term above 1.1000

Posted on April 4, 2022 at 6:42 am GMT

EURUSD is showing some positive signs in the short-term after the rebound off the 22-month low of 1.0805. Currently, the market is consolidating within the 20- and 40-day simple moving averages (SMAs), while the technical indicators are suggesting more upside movements. The RSI is trying to overcome the neutral threshold of 50 and the MACD is strengthening its positive momentum above its trigger line in the negative region. If the market manages to pick up speed, the 40-day (SMA) at [..]

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