Technical Analysis / Page 279

Technical Analysis – GBPJPY rangebound but bias turns cautiously positive

Posted on February 23, 2022 at 8:57 am GMT

GBPJPY has been unable to adopt a clear direction in the past two weeks, trading within the 157.28-155.50 range. However, the price is currently challenging its 50-period simple moving average (SMA) as positive momentum seems to have strengthened in the last few four-hour sessions. The short-term oscillators indicate that near-term risks are tilted to the upside. The RSI is sloping upwards above its 50-neutral mark, while the MACD histogram has crossed above its red signal line but remains in the [..]

Technical Analysis – EURGBP downtrend continues as bearish forces linger

Posted on February 23, 2022 at 8:32 am GMT

EURGBP continues its descending trend and has yet to break its series of successive lower lows as negative forces linger. Moreover, the pair is trading well below the 50- and 200-day simple moving averages (SMAs), maintaining an overall bearish outlook. Short-term momentum indicators are reflecting a negative bias as the RSI is located below its 50 neutral mark. In addition, the MACD is found below zero and its red signal line, which indicate that the negative momentum might be gaining [..]

Technical Analysis – USDJPY challenges 115.00 mark in ascending channel

Posted on February 23, 2022 at 7:50 am GMT

USDJPY came close to breaking the 20-day simple moving average (SMA) and the 115.00 round number on Tuesday, remaining above the Ichimoku cloud and within the upward sloping channel in the medium-term. According to the RSI, the market could maintain positive momentum in the short-term as the indicator is positively sloped above its neutral threshold of 50, while the %K line of the Stochastics suggests that the market is heading north after the bullish cross with the %D line. On the upside, the [..]

Technical Analysis – EURCAD imprisoned in a very narrow range

Posted on February 22, 2022 at 3:57 pm GMT

EURCAD has been trapped in an extremely narrow range between 1.4500 and 1.4400 for a week now. The 50-period moving average (MA) on the four-hour chart is halting any advances, while the lower Bollinger band is preventing any declines. With volatility so low, the momentum oscillators cannot provide any directional signals. Both the RSI and the MACD are stuck near their neutral levels. If the bulls get back in the driver’s seat and manage to push above the 50-period MA, [..]

Technical Analysis – US 100 index rebounds, but a ‘death cross’ looms

Posted on February 22, 2022 at 2:40 pm GMT

The US 100 index has taken some heavy damage lately, losing more than 15% since the beginning of the year to enter correction territory. Technically, the outlook has deteriorated with a series of lower highs and lower lows in recent weeks. Similarly, the 50-day moving average (MA) seems ready to fall below the 200-day one, forming a so-called ‘death cross’. That is considered a warning signal of further losses and perhaps even a trend reversal. Momentum oscillators are pretty weak [..]

Technical Analysis – BTCUSD retains bearish structure but RSI suggest bullish move

Posted on February 22, 2022 at 2:00 pm GMT

BTCUSD found support at the 36,232 level after the negative movement that started after the pullback off the descending trend line. The RSI indicator is heading upwards in the negative region, suggesting a potential upside recovery. Should the pair stretch north, the 50-day simple moving average (SMA) could provide immediate resistance before the prices touches the ascending trend line around 42,000. A significant step higher, breaking the diagonal line could bring the bullish sentiment back into play, sending the price [..]

Technical Analysis – NZDJPY buyers regroup, try to overcome trendline

Posted on February 22, 2022 at 10:46 am GMT

NZDJPY has been printing lower highs and lower lows since October, trading beneath a downtrend line. The bulls have taken the wheel in recent sessions and are trying to break above this trendline. If they succeed, that could help turn the near-term picture neutral, from negative currently. Neither the moving averages nor the short-term oscillators paint a clear picture at this stage. The moving averages have flattened completely, while both the RSI and the MACD are stuck around their neutral [..]

Technical Analysis – WTI futures rallies to fresh highs again near 95.00

Posted on February 22, 2022 at 9:57 am GMT

WTI crude oil futures are surging towards a more-than-seven-year high of 94.90, creating the eighth consecutive green four-hour session. The price rebounded off the short-term ascending trend line with the technical indicators mirroring the aggressive bullish structure. Specifically, the RSI is picking up speed around 70 and the MACD continues to distance itself above its red signal line. Should the price decisively close above the multi-year high, bulls could extend the uptrend towards the next resistance at 98.74, taken from the inside swing low [..]

Technical Analysis – EU50 index comes under fire, hits nine-month low

Posted on February 22, 2022 at 9:29 am GMT

The EU50 index (Cash) came under tremendous selling pressure this week, slicing below its lower Bollinger band to briefly touch a nine-month low of 3,880. Overall, the technical picture has started to deteriorate, with a series of lower lows and lower highs forming on the daily chart lately. The increasingly pessimistic outlook is further endorsed by the behavior of the moving averages (MAs). It seems like the 50-day MA is ready to cross below the 200-day one, forming a ‘death [..]

Technical Analysis – EURJPY buyers contest decline and break of MAs

Posted on February 22, 2022 at 9:13 am GMT

EURJPY bulls are pushing back after the converged simple moving averages (SMAs) failed to halt fresh plunges in the price. The SMAs are lacking any definitive trend suggestions but could now prove to be a tougher barrier for buyers to overstep. The short-term oscillators are signalling that negative impetus in the pair has lost some might. The MACD’s decline below its red trigger line has softened slightly on its way to the zero threshold, while the RSI is improving in [..]

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