Technical Analysis / Page 273

Technical Analysis – USDJPY nears 116 mark as bullish pressures increase

Posted on March 9, 2022 at 9:47 am GMT

USDJPY is creeping higher toward the 116.00 handle and the five-year high of 116.34 after recently bouncing off the Ichimoku cloud. The bullish simple moving averages (SMAs) are defending the broader positive structure. Currently, the Ichimoku lines are not exhibiting a convincing directional force, while the short-term oscillators suggest positive momentum is strengthening. The MACD, in the positive region, has pushed back above its red trigger line, while the RSI is improving in bullish territory after vibrating around the 50 [..]

Technical Analysis – Nvidia’s stock crosses below its 200-SMA; bearish outlook

Posted on March 9, 2022 at 8:43 am GMT

Nvidia’s stock has taken a heavy hit over the last few trading sessions, crossing below its 200-day simple moving average (SMA) as negative forces linger. Moreover, the stock continues to be trading below its November downtrend line, supporting an overall bearish outlook. The short-term momentum indicators are reflecting a negative bias too as the RSI is steady below its 50 neutral mark. Also the MACD is found below zero and below its red signal line, which indicates that the negative [..]

Technical Analysis – EURJPY stages upside reversal after harsh sell-off

Posted on March 9, 2022 at 8:29 am GMT

EURJPY entered a bear market in the long-term picture, falling harshly below its previous lows to bottom at a 16-month low of 124.38 last week. While the 20-day simple moving average (SMA) has just created a double bearish cross with the longer-term SMAs, endorsing the negative trajectory in the market, the RSI and the Stochastics are pointing to oversold conditions. The former has pivoted near its 30 support region, while the latter has formed a bullish double bottom pattern around 20, [..]

Technical Analysis – EURGBP makes a positive move after tumbling to almost 6-year low

Posted on March 9, 2022 at 8:25 am GMT

EURGBP is surging after the bounce off the 0.8200 round number, which is the lowest level since June 2016. The price found strong resistance at the 20-day simple moving average (SMA) around the 0.8345 level, but the technical indicators are suggesting more gains. The RSI is approaching the neutral threshold of 50, while the MACD jumped above its trigger line in the negative region. If buying interest picks up, early tough resistance could occur at the 0.8345 high, where the 20- [..]

Technical Analysis – AUDUSD upside risks linger despite heavy retreat

Posted on March 8, 2022 at 3:44 pm GMT

AUDUSD has snagged around the ascending 50-period simple moving average (SMA) around 0.7279 after its latest deep retracement from a four-month high of 0.7440. The SMAs are essentially defending the rally that began from the February 24 trough of 0.7094. The short-term oscillators are endorsing the bearish drop and have yet to convincingly signal a shift in momentum to the upside. The MACD looks set to pierce into negative territory after accelerating far beneath its red trigger line, while the [..]

Technical Analysis – GBPUSD downside pressures weigh on 1.3100 handle

Posted on March 8, 2022 at 9:57 am GMT

GBPUSD is confronting the lower part of the 1.3105-1.3200 buffer zone, which has defended the broader positive structure since November 2020. The longer-term 100- and 200-day simple moving averages (SMAs) are endorsing a bearish trend, while the fresh dip in the 50-day SMA, indicates the downward trend has intensified. The falling Ichimoku lines suggest firm bearish forces are present, while the short-term oscillators are skewed to the downside. The MACD, far south of the zero threshold, is sinking deeper beneath [..]

Technical Analysis – Gold re-enters 2,000 zone; outlook bullish

Posted on March 8, 2022 at 8:37 am GMT

Gold staged another exciting bullish run early on Tuesday to finally re-enter the 2,000 level after almost two years since its pandemic peak. Particularly, the price is currently testing the resistance zone of 2,020 from August 2020, making any downside corrections or some consolidation likely at this point as the RSI and the Stochastics flash overbought conditions. That said, neither of those indicators is showing signs of abating, while the MACD continues to gain momentum at two-year highs, reflecting persisting buying forces. Meanwhile [..]

Technical Analysis – US 500 remains volatile amid an overall bearish outlook

Posted on March 8, 2022 at 8:19 am GMT

The US 500 cash index has recorded heavy losses over the last few trading sessions as negative pressures linger. Moreover, the 50-day simple moving average (SMA) is looking ready to cross below the 200-day SMA, increasing fears of a sustained bearish outlook. However, the index is currently trading close to its lower Bollinger Band indicating that an immediate upside reversal is not out of the equation. The short-term momentum indicators are painting a negative picture too as the RSI is [..]

Technical Analysis – EURUSD remains in freefall, seeks 261.8% Fibo support

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

EURUSD is extending its downward spiral, approaching the 261.8% Fibonacci extension of the March-May 2021 upleg at 1.0794 earlier today. It has currently climbed back around 1.0880, but the momentum indicators suggest the selling pressure is not about to ease anytime soon. The MACD has fallen deeper into the negative territory, increasing its distance from the red signal line, while the %K and %D lines of the stochastic oscillator are both trending lower in the oversold region. The latter could [..]

Technical Analysis – EU50 index hits the lower Bollinger Band; bearish forces linger

Posted on March 4, 2022 at 1:54 pm GMT

The EU 50 cash index has taken some heavy damage lately, as elevated negative pressures persist. Moreover, the 50-day simple moving average (SMA) has recently crossed below the 200-day SMA, reinforcing the case for a sustained bearish outlook. However, the index is currently trading below its lower Bollinger Band indicating that an immediate upside move should not be ruled out. Short-term momentum indicators are reflecting a mixed picture for the index. The MACD is found below zero and its red [..]

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