Technical Analysis / Page 280

Technical Analysis – USDCAD is found within a sideways channel; neutral outlook

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

USDCAD has been trading sideways during the last month with an upper boundary the 1.2796 resistance and lower boundary the 1.2649 support. However, despite the neutral outlook there are some positive signs as the pair is trading above its 50- and 200-period simple moving averages (SMAs), with the former crossing recently above the latter, raising hopes that the outlook may soon turn bullish. Short-term momentum indicators are reflecting a cautiously positive bias as the RSI is found slightly above its [..]

Technical Analysis – EURCHF pauses decline but bias remains bearish

Posted on February 22, 2022 at 9:01 am GMT

EURCHF has been sloping downwards in the short term after its price peaked at the three-month high of 1.0610. Although the pair’s downtrend appears to be cooling off in the last few four-hour sessions, the broader risks remain tilted to the downside. The momentum indicators are endorsing a negative near-term bias for the pair. The MACD histogram is found below both zero and its red signal line, while the RSI has rebounded from the oversold area but remains well below its [..]

Technical Analysis – GER 40 index starts a bearish trend reversal

Posted on February 22, 2022 at 8:11 am GMT

The German 40 index (cash) plunged below the key floor of 14,814 on Monday, violating the almost one-year-old range-bound trading and activating a bearish double top pattern. The negative crosses between the simple moving averages (SMAs) are also signaling a trend reversal. The index is currently trading at an almost one-year low of 14,336 and the momentum indicators provide little hope that sentiment could flip. Although the RSI and the Stochastics are close to their oversold levels, suggesting the bearish [..]

Technical Analysis – GBPUSD holds within sideways channel above short-term SMAs

Posted on February 22, 2022 at 7:48 am GMT

GBPUSD has been developing within a trading range with upper boundary the 1.3640 resistance and lower boundary the 1.3485 support level over the last three weeks. The price tested the 1.3640 barrier several times as well as the upper Bollinger band with the technical indicators confirming a weak bias. The RSI indicator is moving sideways above the 50 level, while the MACD is trying to extend its positive move above its trigger and zero lines. A move to the upside may meet [..]

Technical Analysis – AUDJPY defies the volatility, maintains neutral profile

Posted on February 22, 2022 at 7:43 am GMT

AUDJPY has been immune to all the volatility in the broader market lately, which is quite surprising since the pair is considered a proxy for risk appetite. The price action has been trapped within a narrow range between 84.00 and 80.50 for several months now. The convergence between the moving averages (MAs) confirms that the picture is neutral. It’s a similar story with the short-term oscillators as both the RSI and the MACD are stuck near their neutral levels, providing [..]

Technical Analysis – CADJPY bears subdued again by one-month floor

Posted on February 21, 2022 at 3:46 pm GMT

CADJPY is struggling to accelerate its freshly revived negative bearing further below the 90.00 handle, where a support base has somewhat solidified since the end of January. The longer-term simple moving averages (SMAs) are steadier than the 50-period SMA, which has dipped, sponsoring the latest decline in the pair. The Ichimoku lines indicate that negative forces have paused, while the Ichimoku cloud maintains its frail bearish tone. The short-term oscillators are also reflecting mixed signals in directional momentum as price [..]

Technical Analysis – US 500 index surrounded by bearish technicals

Posted on February 21, 2022 at 10:33 am GMT

The US 500 stock index (cash) faced a tough wall near its 20- and 200-day simple moving averages (SMAs) last week, which negatively crossed each other for the first time since March 2020, raising worries the pullback from the record high of 4,808 could gain extra legs. Structurally, the index sustains a neutral outlook as the latest sell-off has not successfully violated the key low of 4, 270 from September 30 despite the flash drop to 4,221 at the end of [..]

Technical Analysis – Gold falters around 1,900 mark, bullish mood dubious

Posted on February 21, 2022 at 9:06 am GMT

Gold in the previous trading session transmitted a bearish reversal message around the 1,900 price hurdle, following a three-week rally from the 1,780 trough. The hanging man candle formation is receiving credence with the subsequent negative candle, which until now has failed to close higher than the 1,900 barrier. However, the bullish 50- and 100-day simple moving averages (SMAs) and the near completion of a positive overlap of the 200-day SMA by the 100-day one, suggests more advances in the [..]

Technical Analysis – USDJPY crosses beneath 200-SMA as bearish forces consolidate

Posted on February 21, 2022 at 8:32 am GMT

USDJPY has been trending downwards in the last few four-hour sessions, diving below its 200-period simple moving average (SMA) amid intensifying negative momentum. Therefore, despite experiencing a minor rebound, the pair seems to be resuming its short-term downside trajectory. The momentum indicators reinforce that the bears have gained the upper hand. The MACD histogram is found below both zero and its red signal line, while the RSI is hovering in the negative area. Moreover, the price is currently trading significantly [..]

Technical Analysis – AUDUSD marks yet more higher lows as bullish forces linger

Posted on February 21, 2022 at 8:05 am GMT

AUDUSD has powered back from its 19-month low in late January, marking yet more higher lows as positive momentum resurfaces. Moreover, the pair is trading above its 50- and 200-period simple moving averages (SMAs), with the former crossing recently above the latter, reinforcing the thesis for a sustained bullish outlook. Short-term momentum indicators are reflecting a mixed picture as the RSI is located above its 50 neutral mark. However, the MACD is found below its red signal line despite being [..]

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