Technical Analysis / Page 269

Technical Analysis – US30 index uptick is not enough to alter its bearish outlook

Posted on March 17, 2022 at 8:28 am GMT

The US 30 index has witnessed an uptick over the last few trading sessions as the negativity in the price seems to be waning. However, the index continues to record a series of successive lower highs and lower lows, supporting an overall bearish outlook. Despite the bearish outlook, short-term momentum oscillators are reflecting a slightly positive bias as the RSI has recently crossed above its 50 neutral mark. Moreover, the MACD is found above its red signal line, although still [..]

Technical Analysis – AUDUSD tests 200-day SMA and 0.7300 mark

Posted on March 17, 2022 at 8:12 am GMT

AUDUSD rebounded off the short-term ascending trend line, currently flirting with the 200-day simple moving average (SMA) around the 0.7300 psychological mark. As regards the technical indicators, the RSI is strengthening its bullish move above the neutral threshold of 50, while the stochastic is extending its upside move higher, after the bullish crossover within its %K and %D lines. Immediate resistance could come from the 0.7365 barrier before the focus turns to the 0.7440 level. If buying interest persists, the price could rally towards the 0.7555 hurdle, [..]

Technical Analysis – EURUSD stalls after hitting upper Bollinger Band

Posted on March 17, 2022 at 8:08 am GMT

EURUSD has been trending downwards in the long term, generating a structure of lower highs and lower lows. Although the pair has been charging higher after finding its feet at the 22-month low of 1.0850, its upside move was recently rejected by the upper Bollinger Band. The momentum indicators suggest that bullish forces remain in control. The MACD histogram has crossed above its red signal line in the positive region, while the RSI is flatlining beyond its 50-neutral threshold. Should [..]

Technical Analysis – GBPAUD outlook remains bearish despite the recent rebound

Posted on March 16, 2022 at 2:45 pm GMT

GBPAUD has recorded extreme losses during the past few weeks, reaching a 12-month low at 1.7731. Since then the pair has witnessed a minor rebound as the negative pressures seem to be cooling off. However, the 50-day simple moving average (SMA) looks ready to cross below the 200-day SMA, reinforcing the thesis of a sustained bearish outlook. Short-term momentum indicators reflect a mixed picture as the RSI is steady below its 50 neutral mark. Nevertheless, the MACD has recently crossed [..]

Technical Analysis – JP225 index’s bias improves but the outlook remains bearish

Posted on March 16, 2022 at 11:43 am GMT

The JP 225 index continues its downtrend move, recording successive lower lows and lower highs as negative momentum lingers. Moreover, the index is currently trading well below its 50- and 200-day simple moving averages (SMAs), reinforcing the overall bearish outlook. Despite the bearish outlook, short-term oscillators are reflecting a positive bias as the RSI is increasing despite being below its 50 neutral mark. Also, although the MACD is below zero, it has recently crossed above its red signal line, which [..]

Technical Analysis – Gold struggles above 1,900; bearish-to-neutral bias in short-term

Posted on March 16, 2022 at 10:48 am GMT

Gold prices are moving sideways after the aggressive selling interest from the 19-month peak of 2,070.40, returning back near the 1,900 mark. The RSI indicator is flattening around the oversold region, while the MACD is still developing with weak momentum in the negative area. In trend indicators, the 20- and 40-period simple moving averages (SMAs) posted a bearish crossover in the near-term. Should the market extend losses, support could be met between the 200-period SMA at 1,890 and the 1,883 [..]

Technical Analysis – NZDUSD’s minor uptrend prevails after deflection off 200-MA

Posted on March 16, 2022 at 9:50 am GMT

NZDUSD has generated positive traction off the 50-day simple moving average (SMA), which is bordering the tentative uptrend line pulled from the 16-month low of 0.6528. The longer-term 100- and 200-day SMAs are defending the broader bearish trend in the pair, while the flattened slope of the 50-day SMA, is hinting that the latest up wave remains active. The Ichimoku lines are indicating a pause in bullish forces, while the short-term oscillators are transmitting mixed signals in directional momentum. The [..]

Technical Analysis – EURGBP moves sideways after rebound falters

Posted on March 16, 2022 at 9:00 am GMT

EURGBP has been trending downwards in the long term, generating a distinctive structure of lower highs and lower lows. Although the pair managed to recoup part of its losses after finding its feet at the six-year low of 0.8202, the upper Bollinger Band seems to be capping its upside. The momentum indicators suggest that bullish forces remain in control. The MACD histogram is currently above both zero and its red signal line, while the RSI is hovering in the positive region. [..]

Technical Analysis – AMD stock records yet more lower highs as negativity lingers

Posted on March 16, 2022 at 8:49 am GMT

AMD stock is extending its descending trend, recording successive lower highs as negative forces linger. Moreover, the stock has recently crossed below the 200-day simple moving average (SMA) and continues to trade below its December downtrend line, supporting an overall bearish outlook. The short-term momentum oscillators are reflecting a mixed picture as the RSI is increasing despite being below its 50 neutral mark. However, the MACD is found below zero and its red signal line, which indicates that the negative [..]

Technical Analysis – USDJPY challenges the more than 5-year peak again

Posted on March 16, 2022 at 8:27 am GMT

USDJPY is heading north towards the more-than-five-year high of 118.45 and any advances beyond this top would endorse the long-term bullish outlook. The pair penetrated the ascending channel to the upside; however, the technical indicators are suggesting an overbought market. The RSI is flattening above the 70 region, while the stochastic is turning lower in the overstretched region. Should the pair manage to strengthen its positive momentum, the next resistance could come around the 124.00 psychological mark, taken from the [..]

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