Technical Analysis / Page 276

Technical Analysis – EURGBP battles with 50-SMA as bearish forces linger

Posted on March 2, 2022 at 9:10 am GMT

EURGBP has been trending downwards in the medium-term, generating a clear structure of lower highs and lower lows. Although the pair managed to recoup part of its losses after finding its feet at the 0.8305 region, the short-term picture has deteriorated again, with the price crossing below its 200-period simple moving average (SMA) and currently confronting its 50-period SMA. The short-term oscillators indicate that bearish forces have gained the upper hand. The MACD histogram is found beneath both zero and [..]

Technical Analysis – GBPJPY crosses below its 200-SMA; outlook turns bearish

Posted on March 2, 2022 at 8:44 am GMT

GBPJPY has witnessed a significant pullback in the last week of February, crossing below its 200-period simple moving average (SMA) as negative forces have resurfaced. Moreover, the 50-period SMA has recently crossed below the 200-period SMA, increasing fears of a sustained bearish outlook. The short-term momentum indicators are painting a negative bias as the RSI is hovering above its 30 oversold region. Also, the MACD is located below zero and its red signal line, which indicates that the current negative [..]

Technical Analysis – NZDUSD jumps higher but is capped by 38.2% Fibo

Posted on March 2, 2022 at 8:25 am GMT

NZDUSD is creating higher highs and higher lows in the short-term, following the rebound off the 16-month low of 0.6524. Currently, the price is failing to surpass the 38.2% Fibonacci retracement level of the down leg from 0.7220 to 0.6524 at 0.6790, with the technical indicators suggesting more bullish actions. The MACD is strengthening its positive bias above its trigger and zero lines, while the RSI is flattening in the bullish region. In trend indicators, the 20- and 40-day simple [..]

Technical Analysis – USDJPY stays within bullish triangle; outlook fragile

Posted on March 2, 2022 at 8:22 am GMT

USDJPY is setting another foothold marginally below the 115.00 round level and near the supportive trendline, which now looks to be part of an ascending triangle pattern with an upper boundary at 116.33. This type of triangle is usually a bullish formation that anticipates an upside breakout, but for that to happen the price will first need to close above the nearby constraining 20-day simple moving average (SMA) at 115.24 and then gear sustainably above the 115.50 tough resistance. Such an action would immediately bring the crucial ceiling [..]

Technical Analysis – WTI futures shows improvement near 99.00

Posted on March 1, 2022 at 9:59 am GMT

WTI crude oil futures are posting notable gains around the 99.00 mark, remaining well above the short-term simple moving averages (SMAs) and the uptrend line. The MACD continues to strengthen to the upside and above its red signal line while the RSI is sloping north in the bullish area, supporting the current view as well. Another step higher may reach a key resistance at 99.00, where the price stopped in the previous sessions. Should this prove a weak obstacle, the [..]

Technical Analysis – AUDUSD rally eyes longer-term descending trend lines

Posted on March 1, 2022 at 9:37 am GMT

AUDUSD is testing the 0.7283-0.7293 resistance barrier after extending yesterday’s intense rally, which filled a recorded gap in the pair and reinstated the one-month bullish mood that began from the 18½-month low of 0.6967. The rising 50- and 100-period simple moving averages (SMAs) are sponsoring improvements in the pair. The short-term oscillators are skewed to the upside, reflecting growing positive momentum. The MACD, north of the zero line, is soaring above its red trigger line, while the RSI is improving [..]

Technical Analysis – USDCAD halts its retreat after confronting 200-SMA

Posted on March 1, 2022 at 8:47 am GMT

USDCAD has been moving sideways in the medium term, with the price looking unable to adopt a clear direction. However, the pair is experiencing a sharp decline in the last few four-hour sessions after it peaked at the two-month high of 1.2867. The short-term oscillators indicate that bearish forces have gained the upper hand. The MACD histogram is found beneath both zero and its red signal line, while the RSI is hovering in the negative zone. Furthermore, the price is [..]

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

Posted on March 1, 2022 at 8:46 am GMT

EURCHF has been recording yet more lower lows, reaching levels last seen back in April 2015, with its negative momentum not looking ready to subside anytime soon. Moreover, the pair is currently trading well below its 50- and 200-day simple moving averages (SMAs), reflecting the overall bearish outlook. The short-term momentum indicators paint a negative bias as the RSI is decreasing below its 50 neutral mark. Also, the MACD is found below zero and its red signal line, which indicates [..]

Technical Analysis – GBPUSD heals its wounds as bearish bias remains present

Posted on March 1, 2022 at 8:19 am GMT

GBPUSD switched to a bullish mode after last week’s crash ceased at a two-month low of 1.3279. That said, the pair is still some way below February’s highs and downside risks keep lingering in the background as the MACD is strengthening its negative momentum below its zero and signal lines, and the RSI, although pushing for some recovery, is still comfortably dipped beneath its 50 neutral mark. The 23.6% Fibonacci retracement of the 1.4248 – 1.3160 downleg continues to block upside movements for [..]

Technical Analysis – EURJPY recovers the gap, but negative risks not faded yet

Posted on March 1, 2022 at 7:48 am GMT

EURJPY ended Monday in the green, recovering the negative gap and is now challenging the 129.00 psychological level. The pair has been in a descending movement in the short-term timeframe after the pullback of the 133.15 resistance level, but in the broader picture the price has been in a sideways move since June 2021. Regarding the technical indicators, the RSI is moving with weak momentum in the negative region, while the MACD is strengthening its movement below its trigger and [..]

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