Technical Analysis / Page 264

Technical Analysis – US 30 index strengthens as bullish bearing firms

Posted on March 30, 2022 at 2:48 pm GMT

The US 30 stock index (Cash) seems to have found fresh feet after overrunning the 35,000-35,140 resistance band, the latter being the February 16 high. The bullish 50- and 100-period simple moving averages (SMAs) are defending the recent rally from the 32,680 trough. Currently, the Ichimoku lines suggest positive forces remain in play, while the short-term oscillators are reflecting a slight withdrawal in negative momentum. The MACD, in the positive region, has poked a tad back above its red trigger [..]

Technical Analysis – NZDUSD aims for an uptrend resumption

Posted on March 30, 2022 at 10:56 am GMT

NZDUSD is trading positive for the second consecutive day, flirting with last week’s high of 0.6987 after finding strong support near the 20-day simple moving average (SMA) and the 50% Fibonacci retracement of the 0.7217 – 0.6528 downleg. Technical signals are neutral-to-bullish at the moment as the RSI has resumed its positive momentum after marking a lower low above 50. The Stochastics are set for a bullish cross, while the MACD is preserving some strength above its red signal line, but [..]

Technical Analysis – US 100 cash index struggles to jump above 61.8% Fibo

Posted on March 30, 2022 at 10:33 am GMT

The US 100 cash index is struggling around the 61.8% Fibonacci retracement level of the down leg from 16,767 to 12,940 at 15,308. Also, the 100-day simple moving average (SMA) is ready for a bearish cross with the 200-day SMA, suggesting an overbought market. The RSI indicator is heading south above the 50 level; however, the MACD is strengthening its movement above its trigger and zero lines. A downside reversal below the SMAs could bring the 50.0% Fibonacci of 14,855 [..]

Technical Analysis – USDJPY retreats from 19-year high, upside risks linger

Posted on March 30, 2022 at 9:11 am GMT

USDJPY is currently trading around its red Tenkan-sen line around 122.00 after retracing below the 122.57 level, which is the 23.6% Fibonacci retracement of the up leg from the 114.40 low until the recorded 125.10 rally peak. The rising simple moving averages (SMAs) continue to endorse the prevailing ascent despite the fresh correction in the pair. For now, the Ichimoku lines indicate that bullish forces have yet to fully abate, while the short-term oscillators suggest that positive momentum is subsiding. [..]

Technical Analysis – EURGBP surpasses descending line, hitting 3-month high

Posted on March 30, 2022 at 7:54 am GMT

EURGBP is ticking higher after it surpassed the 200-day simple moving average (SMA) and reached a fresh a three-month high around 0.8483. The price jumped above the medium-term descending trend line, showing some positive signs for more gains. The RSI indicator is flattening above the 50 level, while the MACD oscillator is stretching its positive momentum above its trigger and zero line. Also, in trend indicators the 20- and the 40-day SMAs created a bullish crossover. The pair could [..]

Technical Analysis – Gold recoups some losses but 200-SMA halts its advance

Posted on March 30, 2022 at 7:45 am GMT

Gold experienced a sharp decline after trading sideways for the last two weeks. Although the precious metal has managed to bounce back in the last few four-hour sessions, the 200-period simple moving average (SMA) and the lower boundary of the Ichimoku cloud are capping its upside. The momentum indicators suggest that the near-term bias is turning cautiously positive. Specifically, the stochastic oscillator is marching higher in the overbought region, while the MACD histogram is currently below zero but above its [..]

Technical Analysis – JP 225 index still showing no weakness in bullish bearing

Posted on March 29, 2022 at 1:47 pm GMT

The Japan 225 index (Cash) has recorded a two-month peak of 28,549, resuscitating the uptrend from the 24,502 low, after breaching the recent 28,371 high. The soaring 50-period simple moving average (SMA) is endorsing the more than two-week rally, and the nearing of a bullish crossover of the 200-period SMA by the ascending 100-period SMA could further boost advances in the index. Currently, the rising Ichimoku lines indicate sturdy positive forces, while the short-term oscillators are mirroring an increase in [..]

Technical Analysis – Amazon’s stock pierces through 200-SMA as bullish forces consolidate

Posted on March 29, 2022 at 8:32 am GMT

Amazon’s share has been edging higher after its medium-term downtrend reversed at the 20-month low of 2,667. Moreover, the price crossed above its 200-day simple moving average (SMA) and is currently trading above the Ichimoku cloud, endorsing the stock’s broader bullish structure. The momentum indicators suggest that buyers continue to hold the upper hand. Specifically, the stochastic oscillator has posted a bullish crossover in the overbought area, while the MACD histogram is currently above both zero and its red signal [..]

Technical Analysis – EURJPY pulls below 7-year high; still bullish but overbought

Posted on March 29, 2022 at 8:07 am GMT

EURJPY pulled back to close at 135.93 on Monday after its aggressive rally topped at an almost seven-year high of 137.52 on Monday. The price is trying to regain some ground today, but the 2018 resistance of 136.50 – 137.00 is keeping the bulls under control as the widened Bollinger bands foresee some stabilization in the short term. The fact that the Stochastics are sloping downwards to exit the overbought area, the RSI is very close to its October peak, and [..]

Technical Analysis – GBPUSD fails to pilot past 1.33; bearish bias strengthens

Posted on March 29, 2022 at 7:59 am GMT

GBPUSD’s negative bearing has been rekindled after the 1.3270-1.3300 resistance band curbed advances, which began from the recorded 16-month low of 1.3000. The falling simple moving averages (SMAs) suggest that the intensity of the downward trend is intact. Currently, the Ichimoku lines signal prevailing bearish forces despite the rising red Tenkan-sen line. The short-term oscillators are conveying mixed messages in directional momentum. The MACD, in the negative zone, is above its red trigger line but has started to turn lower [..]

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