Technical Analysis / Page 274

Technical Analysis – Dollar index reaches new 21-month peak; retains positive move

Posted on March 4, 2022 at 10:49 am GMT

Dollar index is flirting with the 21-month high of 98.14 after the rebound off the uptrend line in the previous days. The RSI is approaching the 70 region, while the stochastic is ready to cross the 80 level, both are suggesting that the next move may be to the downside rather than to the upside as the indicators reached their overbought levels. If the price retreats the next immediate support could come from the 97.40 zone. Even lower, the 20-day [..]

Technical Analysis – NZDUSD rejuvenates its one-month bullish climb

Posted on March 4, 2022 at 9:26 am GMT

NZDUSD has steered decisively beyond the 0.6800-0.6817 resistance border that has capped advances since mid-January and is looking buoyant. Above the 200-period simple moving average (SMA), the ascending 50- and 100-period SMAs continue to endorse the bullish structure. The rising Ichimoku lines are implying that positive forces are growing, while the short-term oscillators are reflecting the increase in positive momentum. The MACD, far north of the zero threshold, is strengthening above its flattened red trigger line, while the RSI is [..]

Technical Analysis – GBPUSD declines again as its recent rebound falters

Posted on March 4, 2022 at 9:10 am GMT

GBPUSD has been trending downwards in the medium term since the price failed twice to breach the 1.3643 ceiling. Although the pair managed to recoup part of its losses after finding its feet at the 1.3271 region, the short-term picture seems to be deteriorating again. The momentum indicators suggest that bearish forces remain in control. The RSI is flatlining in the negative area, while the MACD histogram is found below both zero and its red signal line. If the price [..]

Technical Analysis – US 100 index forms a ‘death cross’ as negativity persist

Posted on March 4, 2022 at 8:43 am GMT

The US 100 index has taken some heavy damage lately, briefly reaching a 10-month low at 13,030 last week. Elevated negative pressures are still troubling the index, with the 50-day simple moving average (SMA) crossing recently below the 200-day SMA forming a ‘death cross’, which reinforces the thesis for a sustained bearish outlook. The short-term momentum oscillators are painting a mixed picture as the RSI is steady below its 50 neutral mark. On the other hand, despite being below zero [..]

Technical Analysis – USDCAD recovers from monthly lows but still in confusion

Posted on March 4, 2022 at 7:50 am GMT

USDCAD bounced up immediately after the dive to a one-month low of 1.2589 on Thursday, with the price currently pushing for an advance above the 1.2700 level and beyond the 20-day simple moving average (SMA). Although the price has rejected a close below the 50% Fibonacci retracement of the 1.2287 – 12962 upleg, the momentum indicators are still in confusion as the RSI is hovering around its 50 neutral mark, the MACD remains attached to its zero line, and the [..]

Technical Analysis – GBPJPY seems to be looking weak within SMAs

Posted on March 4, 2022 at 7:44 am GMT

GBPJPY has been trading sideways since the day it dived below the 20- and 40-day simple moving averages (SMAs) at 155.60 in the short-term, unable to close below the 200-day SMA and the 152.90 support. The momentum indicators, though, are currently encouraging that the sell-off may have found a bottom and the pair may be pushing for some recovery. The RSI and the Stochastics are pointing up and are ready to leave the negative zone, while the MACD seems to be stabilizing [..]

Technical Analysis – Silver’s advance falters but bias remains bullish

Posted on March 3, 2022 at 3:35 pm GMT

Silver has been edging higher in the short term, generating a clear structure of higher highs and higher lows. Although in the last few sessions the precious metal appears to be running out of steam, the ascending 50-day simple moving average (SMA) is closing the gap with the 200-day SMA, where a potential crossover could endorse the case of a more sustained rally. The momentum indicators suggest that bullish forces are still in control. The stochastic oscillator is storming higher [..]

Technical Analysis – JP 225 index finds support at 26,100 after diving to 15-month low

Posted on March 3, 2022 at 1:25 pm GMT

JP 225 index looks to be creating a floor around the 26,100 support as the RSI and the MACD seem to have reached a bottom in bearish territory and are now changing direction to the upside. Traders, however, would be more eager to engage in buying activities if the price manages to surpass the nearby 20-day simple moving average (SMA) around 26,950. If this is successfully breached, then the rally may next rest near the 40-day SMA at 27,281 and the 27,900 [..]

Technical Analysis – US30 index marks yet more lower lows; bearish forces persist

Posted on March 3, 2022 at 12:40 pm GMT

The US 30 index has taken some heavy damage lately, reaching an 11-month low last week. Elevated negative pressures have been troubling the index, which has been recording successive lower lows since December. Moreover, the 50-day simple moving average (SMA) is looking ready to cross below the 200-day SMA, which could reinforce the thesis for a sustained bearish outlook. The short-term momentum oscillators are painting a mixed picture as the RSI is steady below its 50 neutral mark. On the [..]

Technical Analysis – GBPAUD dives further to 4-month low; selling interest persists

Posted on March 3, 2022 at 11:27 am GMT

GBPAUD is trying to record the tenth straight negative session, plummeting to a new almost four-month low around 1.8292. Technically, the 20- and 40-day simple moving average (SMA) recorded a bearish crossover, while the price is also falling well below the 200-day SMA. The MACD oscillator is still strengthening its negative movement below its trigger and zero lines, while the RSI dived in the oversold zone, indicating that the negative movement may come to an end in the next few sessions. A failure [..]

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