Technical Analysis / Page 277

Technical Analysis – US 500 index gaps lower as rally deflects off Ichimoku cloud

Posted on February 28, 2022 at 10:14 am GMT

The US 500 stock index (Cash) has gapped back beneath its 50-period simple moving average (SMA), throwing some doubt into whether the bounce from the nine-month low of 4,106 could sustain optimism in the market. The Ichimoku cloud has taken the wind out of the index’s sails, and it appears that a swift overturn of the recent damage resulting from the Ukraine attacks, may likely take longer to offset. The falling SMAs continue to endorse the short-term bearish trend. Meanwhile, [..]

Technical Analysis – Gold decreases sharply after the spike to new 19-month peak

Posted on February 28, 2022 at 9:02 am GMT

Gold prices started the day with a positive gap, but they quickly declined lower, unable to re-challenge the 19-month high of 1,974. The RSI indicator is showing some positive signs as it is pointing upwards in the bullish region; however, the MACD is approaching its trigger line for a bearish cross above its zero level. In case there are steeper declines the next immediate support could come from the 1,877 barrier and then from the 20-day simple moving average (SMA) at 1,859 ahead of [..]

Technical Analysis – UK 100 crosses below its 50-SMA; bullish outlook maintained

Posted on February 28, 2022 at 8:52 am GMT

The UK 100 cash index has witnessed significant volatility over the last trading sessions, crossing below its 50-day simple moving average (SMA) as negative forces have resurfaced. However, the index has marked yet more higher highs and is trading above its February 2021 uptrend line, supporting an overall bullish outlook. The short-term oscillators paint a negative bias for the index as the RSI is currently below its 50 neutral mark. Also, the MACD is found below zero and its red [..]

Technical Analysis – EURUSD stands on moving sand around 1.1100 area

Posted on February 28, 2022 at 8:42 am GMT

EURUSD opened with a negative gap near January’s low of 1.1120 on Monday as the world is eagerly awaiting the crucial Russian – Ukrainian meeting. Despite last week’s volatile session, the 1.1100 territory continues to feed buying appetite, with the price currently pushing to recoup today’s lost ground. The fast Stochastics seem to have created a sort of a double bottom formation around their 20 oversold level, endorsing the recovery mood in the market, though the indicator has yet to [..]

Technical Analysis – USDJPY rangebound after advance pauses; bias remains bullish

Posted on February 28, 2022 at 8:23 am GMT

USDJPY has been trending downwards in the short term after the price peaked at the five-year high of 116.33. However, in the last few four-hour sessions the pair has merely bounced back since it managed to find its feet at the 114.40 region. The short-term oscillators reflect that near-term risks are tilted to the upside. The MACD histogram is found both above zero and its red signal line, while the RSI is hovering in the positive territory. Moreover, the price [..]

Technical Analysis – US 30 index marks yet more lower lows; bearish forces in question

Posted on February 25, 2022 at 1:44 pm GMT

The US 30 index has taken some heavy damage lately, recording successive lower lows as negative forces grew. The index is currently trading below its 50- and 200-day simple moving averages (SMAs), with the former looking ready to cross below the latter, which could reinforce the case for a sustained bearish outlook. The short-term oscillators paint a negative bias for the index as the RSI is currently around its 30 oversold region. Also, the MACD is found below zero and [..]

Technical Analysis – GBPJPY’s bearish tone intact despite bounce off 200-MA

Posted on February 25, 2022 at 10:14 am GMT

GBPJPY has stabilized around the 100-day simple moving average (SMA), currently within the Ichimoku cloud, after the latest pullback from the more than five-year ceiling recorded a rebound off the 200-day SMA, which overlaps with the Ichimoku cloud’s floor. Meanwhile, the SMAs continue to endorse a neutral-to-bullish trend preference in the pair. The blue Kijun-sen line has yet to confirm that bearish forces are dominating, while the red Tenkan-sen line reflects the recent pickup in downward pressure. The short-term oscillators [..]

Technical Analysis – GBPUSD crosses below its SMAs as negative forces linger

Posted on February 25, 2022 at 8:44 am GMT

GBPUSD has witnessed a major pullback lately, crossing below its 50- and 200-period simple moving averages as negative forces strengthen. Moreover, both moving averages have started to point lower, endorsing the case for an outlook deterioration. The Short-term oscillators paint a negative bias for the pair as the RSI is currently well below its 50 neutral mark. Also, the MACD is found below zero and its red signal line, which indicates that the negative momentum in the price might be [..]

Technical Analysis – NZDUSD rebounds after sharp dip; bias cautiously positive

Posted on February 25, 2022 at 8:23 am GMT

NZDUSD experienced a vast sell-off, crossing below both its 50- and 200-period simple moving averages (SMAs) after its price peaked at 0.6808. However, in the last few four-hour sessions the pair has been in recovery mode, recouping part of its losses while jumping back above the aforementioned SMAs. The momentum indicators suggest that near-term risks are tilted to the upside. The stochastic oscillator is sloping upwards near the 80-oversold area, while the RSI has rebounded from the negative region and [..]

Technical Analysis – USDCAD retreats after bullish spike to 2-month high

Posted on February 25, 2022 at 8:18 am GMT

USDCAD had a bearish start to Friday after yesterday’s spike to a new two-month high of 1.2876. The pair has also increased its distance above its positively-sloped moving average lines and the Ichimoku cloud, indicating that the recent down move might not hold for long. Momentum signals are in a confusion. The RSI has reversed lower in the positive region, while the MACD is strengthening its bullish move above its trigger and zero lines. An upside correction could retest the 1.2814 key mark before attention turns to the 14-month high of 1.2960. Moving higher, the 1.3134 [..]

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