Technical Analysis / Page 265

Technical Analysis – AUDUSD battles with 0.7500, adding optimism for further gains

Posted on March 29, 2022 at 6:23 am GMT

AUDUSD stretched its two-week rally to a five-month high of 0.7540 before pulling slightly lower. The RSI seems to be gaining momentum above its neutral threshold of 50, while the stochastic oscillator posted a bullish crossover within its %K and %D lines. However, the Ichimoku lines capped the current market action, acting as strong resistance lines. The market trend, though, is likely to hold on to the upside as long as the price holds far above its 200-period simple moving average (SMA) [..]

Technical Analysis – EURCHF locates footing at mid-Bollinger; bearish risks linger

Posted on March 28, 2022 at 2:30 pm GMT

EURCHF forms a foothold off the mid-Bollinger band at 1.0220 after the rally from the more than 7-year low of 0.9971 was curbed by the 1.0400 handle, and the 100-day simple moving average (SMA). Nevertheless, the descending SMAs continue to sponsor the bearish outlook in the pair. The short-term oscillators are transmitting conflicting signals in directional momentum. The MACD, in the negative region, is holding slightly underneath its red trigger line, while the improving RSI is about to test the [..]

Technical Analysis – EURUSD continues to slide as positive hopes fade

Posted on March 28, 2022 at 8:43 am GMT

EURUSD is edging lower toward the 1.0900 handle after bullish developments in the pair were unable to overpower the 1.1100 hurdle. The falling simple moving averages (SMAs) are endorsing the 10-month bearish trend from the May 2021 high of 1.2266. Currently, the Ichimoku lines indicate that bearish forces remain active, while the short-term oscillators are skewed to the downside. The MACD is south of the zero threshold and looks set to return beneath its red trigger line, while the RSI [..]

Technical Analysis – US 500 index upside cools off but bias remains bullish

Posted on March 28, 2022 at 7:51 am GMT

The US 500 stock index (cash) has been in a recovery mode since it managed to find its feet at the 4,135 region in early March. Although the index’s advance appears to be pausing in the immediate term, the technical picture endorses a broader bullish trend. The momentum indicators suggest that buying forces remain in control. Specifically, the stochastic oscillator is sloping upwards after posting a bullish crossover in the overbought area, while the MACD histogram is currently above both [..]

Technical Analysis – Gold loses steam near 1,959 resistance; bias neutral-to-bearish

Posted on March 28, 2022 at 7:20 am GMT

Gold could not find enough buyers to cross the key resistance of 1,959 last week, with the price tumbling to 1,933 early on Monday. The short-term bias is looking neutral-to-bearish as the RSI keeps fluctuating around its 50 neutral mark. The Stochastics have lost steam and are set for a downside reversal, while the MACD remains negatively charged between its signal and zero lines. If sellers manage to breach the 1,920 floor, where the 50% Fibonacci retracement of the 1,780 – 2,070 upleg [..]

Technical Analysis – USDJPY looks overbought around 6-year high

Posted on March 28, 2022 at 7:02 am GMT

USDJPY is flirting with the more-than-six-year high of 123.25 after the aggressive surpass of the 122.40 support level. The 20- and 40-period simple moving averages (SMAs) are following the market’s reaction, while the technical indicators appear to be overbought. The MACD is trying to extend its move above its trigger line; however, the RSI is flattening above the 70 level. Should the pair make another run higher, it’s likely to meet resistance at 123.75 as this level has strongly capped prices since December 2015. A successful break [..]

Technical Analysis – GBPJPY eases from 6-year high; rally may be losing steam

Posted on March 25, 2022 at 7:49 am GMT

GBPJPY reached a fresh six-year high of 161.48 earlier today but the price has now pulled back to around 160.75. The pair has risen sharply from the two-month trough of 150.97 plumbed on March 8. However, the momentum indicators suggest the latest upswing is cooling. Both the RSI and the stochastic oscillator have entered overbought territory, warning that a near-term correction is due. The stochastics have been holding above 80 for more than a week now, while the RSI, which [..]

Technical Analysis – AUDJPY defies gravity, reaches more than 7½-year high

Posted on March 24, 2022 at 3:58 pm GMT

AUDJPY has recorded a multi-year high of 91.75 just beneath the 91.88-92.68 resistance region formed by the August 2015 highs. The upturn of the simple moving averages (SMAs) reflects the surge in bullish momentum after the price overran the 44½-month high of 86.24. Currently, the climbing Ichimoku lines signal no weakness in bullish forces, while the short-term oscillators exhibit an upward preference in the pair. The MACD is increasing over its red trigger line, while the RSI is rising in [..]

Technical Analysis – GBPCAD bearish pressures calm above 1.65 handle

Posted on March 24, 2022 at 2:31 pm GMT

GBPCAD has touched a 29½-month low of 1.6516, subsequently shaping the 1.6516-1.6566 support border that encapsulates the March 2020 trough of the collapse from the 1.8045 high. The tempo of the pair’s descent from the recent 1.7376 high softened in the vicinity of the March 2020 bottom of 1.6536. Nonetheless, the simple moving averages (SMAs) continue to highlight downside risks. The Ichimoku lines indicate a pause in bearish forces, while the short-term oscillators signal a pickup in negative momentum. The [..]

Technical Analysis – US 30 index advances become capped; downside risks linger

Posted on March 24, 2022 at 10:03 am GMT

The US 30 stock index (Cash) has retreated to the 50-day simple moving average (SMA) around 34,333 after the converged longer-term 100- and 200-day SMAs, in conjunction with the Ichimoku cloud, curbed the pace of the two-week rally from the 32,337 level. The descending 50-day SMA and the nearing of a bearish crossover of the 200-day SMA by the 100-day one, are signals that bearish pressures have yet to fully dry up. The Ichimoku lines suggest negative forces are dormant, [..]

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