Technical Analysis / Page 275

Technical Analysis – EURJPY’s bearish bias unruffled by recent bounce

Posted on March 3, 2022 at 8:58 am GMT

EURJPY has gained buoyancy slightly above the 128.00 level, but the bearish structure of the pair, looks to be unflustered by buyers who recently found their feet at a one-year low within the 127.29-127.50 support band. The falling simple moving averages (SMAs) are endorsing the negative bearing in the pair and the nearing of a bearish crossover of the 200-period SMA by the 100-period one, could signal additional strength to the downside. Currently, the Ichimoku lines are indicating a stall [..]

Technical Analysis – USDCHF crosses below SMAs as negative momentum intensifies

Posted on March 3, 2022 at 8:40 am GMT

USDCHF has been in recovery mode after it managed to halt its short-term decline at the 0.9150 region. However, the pair has been experiencing a pullback in the last few four-hour sessions, with the price crossing below both its 200- and 50-period simple moving averages (SMAs). The momentum indicators suggest that bearish forces are in control. The stochastic oscillator is trending downwards after posting a bearish cross, while the MACD histogram is found above its red signal line in the negative [..]

Technical Analysis – EURUSD continues its downtrend move as bearish forces linger

Posted on March 3, 2022 at 8:34 am GMT

EURUSD maintains its downward trend, reaching levels last seen back in May 2020 as negative momentum persists. Moreover, the pair is currently trading well below its 50- and 200-period simple moving averages (SMAs), supporting an overall bearish outlook. The short-term momentum indicators are reflecting a mixed picture as the RSI is steady below its 50 neutral mark. On the contrary, the MACD is found below zero but marginally above its red signal line, which indicates that the negative momentum in [..]

Technical Analysis – AUDUSD completes double bottom formation; 200-SMA next in focus

Posted on March 3, 2022 at 7:55 am GMT

AUDUSD closed above the neckline of the bullish double bottom formation at 0.7274 on Wednesday, and while the price keeps ascending within the 0.7300 territory today, the 200-day simple moving average (SMA) overhead at 0.7320 could still ruin the latest progress in the market as it did in October. Overbought conditions have not been confirmed yet as the rising RSI is still some distance away 70, while the Stochastics have just crossed above 80 and continue to strengthen. The MACD, which has overcome its previous [..]

Technical Analysis – WTI futures fly sharply above 115.00; which level is next?

Posted on March 3, 2022 at 7:41 am GMT

WTI futures are surging with strong momentum towards a fresh more than 13-year high near 115.00. The price recorded two consecutive impressive bullish days, sending the technical indicators into overbought regions. The RSI is holding above its 70 level, while the MACD is strengthening its movement above its trigger and zero lines, both suggesting that the strong upward move may soon come to an end. If the price retreats and creates a bearish correction, immediate support levels could come from the 112.00 inside swing [..]

Technical Analysis – LTCUSD shows bullish tendency after February’s plunge

Posted on March 2, 2022 at 3:19 pm GMT

LTCUSD (Litecoin) has been trending northwards since the plunge to a multi-year low of 91.43 in the four-hour chart last week, with the price topping its latest bullish action at 116.00 on Monday before correcting lower again. Discouragingly, the price has slid below the 111.00 region, which has been balancing downside pressures the past few sessions, raising speculation that the latest pullback could gain extra legs, but the market is currently trying to recoup that setback. Nevertheless, traders may not [..]

Technical Analysis – Palladium futures storm higher amid intensifying positive momentum

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

Palladium futures (June delivery) have been creeping higher since their long-term decline halted at the 11-month low of 1,526. Moreover, the ascending 50-day simple moving average (SMA) is closing the gap with the 200-day SMA, where a potential crossover would endorse the case of a more sustained rally. The momentum indicators further confirm that bullish forces are in control. The stochastic oscillator is heading north after posting a bullish crossover, while the MACD histogram is found above both zero and its [..]

Technical Analysis – US 500 remains volatile; overall bearish outlook

Posted on March 2, 2022 at 2:42 pm GMT

The US 500 cash index has quickly bounced above its 9-month low at 4,106 touched last week. However, the elevated negative pressures are still troubling the index, which is currently trading well below its 50- and 200-day simple moving averages (SMAs), reflecting an overall bearish outlook. The short-term momentum indicators are painting a mixed picture as the RSI steady below its 50 neutral mark. On the country, the MACD is found below zero but above its red signal line, which [..]

Technical Analysis – EURAUD hits 2021 bottom after brutal decline

Posted on March 2, 2022 at 1:17 pm GMT

EURAUD has been in the red since the start of February, falling rapidly all the way down to meet the 2021 low of 1.5251 after last week’s bullish attempts hit a wall around the broken ascending trendline at 1.5680. The market is trading in oversold territory according to the Stochastics and the RSI, though the former is still some distance above its former support region, which preceded the upside price reversals in February and October 2021. The RSI has already [..]

Technical Analysis – Gold’s fresh rally takes a breather below 1,950 level

Posted on March 2, 2022 at 9:59 am GMT

Gold is consolidating slightly beneath its latest high of 1,950 after renewed positive traction from its recent 1,891 trough. The soaring simple moving averages (SMAs) are safeguarding the one-month bullish picture in the precious metal. The climbing red Tenkan-sen line looks set to complete a positive overlap of the flattened blue Kijun-sen line, which would indicate that bullish forces are intensifying. That said, an upturn in the blue Kijun-sen line would offer additional credence for positive developments in the commodity. [..]

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