Technical Analysis / Page 281

Technical Analysis – EURUSD shows some positive signs in short-term; double top is active

Posted on February 21, 2022 at 7:41 am GMT

EURUSD has found strong support at the blue Kijun-sen line of the Ichimoku indicator, while it is still standing above the short-term simple moving averages (SMAs). The double top formation is still holding but any breaks above 1.1480 may shift the neutral outlook to bullish. Regarding the technical indicators, the RSI indicator is pointing upwards around the neutral threshold of 50, while the MACD is falling below its trigger line in the positive region with weak momentum. Furthermore, the Ichimoku cloud is acting as a resistance [..]

Technical Analysis – GBPUSD tests upper boundary of trading range

Posted on February 18, 2022 at 10:30 am GMT

GBPUSD is moving higher over the last 4-hour session remaining well above the short-term simple moving averages (SMAs). The RSI indicator is pointing up near the 70 level, while the MACD oscillator is holding above its trigger line in the positive region. If the market overcomes the 1.3637 resistance level, the next stop could come from the 1.3660 resistance level. Surpassing the aforementioned levels, the bulls may visit the 1.3690 hurdle ahead of the 1.3750 barrier, registered in January 13. [..]

Technical Analysis – USDCAD stuck in 3-week range as trend vanishes

Posted on February 18, 2022 at 10:01 am GMT

USDCAD is trading just beneath the horizontal 50-day simple moving average (SMA) around 1.2706 as a three-week consolidation period seems to have the pair chained between the 1.2635 and 1.2796 boundaries. The overall neutral trajectories of the SMAs suggest that the price trend has dissolved, hinting that the pair may continue to drift for a while longer. The short-term oscillators are conveying conflicting messages in directional momentum. The MACD, slightly north of the zero threshold, is trailing marginally underneath its [..]

Technical Analysis – US 30 index halts decline but outlook remains bearish

Posted on February 18, 2022 at 8:36 am GMT

The US 30 stock index (cash) has been experiencing a short-term pullback since the price peaked at the 35,860 region last week. Although the index managed to cease its dive in the last few four-hour sessions, it hasn’t recouped any of its losses yet as the positive momentum seems unable to strengthen further. The momentum indicators are endorsing a cautiously positive near-term bias. The stochastic oscillator is sloping upwards after posting a bullish crossover, while the MACD histogram is found below both zero [..]

Technical Analysis – NZDUSD breaks above its 200-SMA; positive bias strengthens

Posted on February 18, 2022 at 8:28 am GMT

NZDUSD has powered back from its 16-month low in late January, as positive momentum resurfaced. Moreover, the pair has recently crossed above its 50- and 200-period simple moving averages (SMAs), which is another sign that the outlook might be turning bullish. Short-term momentum indicators are also reflecting a positive bias as the RSI is hovering above its 50 neutral mark. In addition, the MACD is found above zero and its red signal line, which indicates that the positive momentum may [..]

Technical Analysis – GBPJPY could still reap benefits despite sideways move

Posted on February 18, 2022 at 8:28 am GMT

GBPJPY has been quite neutral this week, tiptoeing sideways, below the 157 level, but the market action continues to take place above the 20-day simple moving average (SMA) and the upper bullish Bollinger area, suggesting buyers are still eager to move. Although lacking direction, the RSI is fluctuating above its 50 neutral mark and the MACD is flattening above its red signal line, while the green %K Stochastic line has drifted back above the red %D line, all keeping the bias [..]

Technical Analysis – EURJPY in the red today but 200-MA pauses damage

Posted on February 17, 2022 at 3:57 pm GMT

EURJPY has found its feet at the 200-period simple moving average (SMA) around 130.41 as the picture was looking increasingly bearish after the pair recorded a lower high of 131.90, following the pullback from a 16-week peak of 133.15. The 200-period SMA has flattened and the declining 50-period SMA has triggered worries that a minor negative trend is in progress. The short-term oscillators are transmitting mixed messages in directional momentum. The MACD, in the negative region, is falling beneath its [..]

Technical Analysis – EURUSD heads up within Ichimoku cloud

Posted on February 17, 2022 at 2:16 pm GMT

EURUSD is moving with weak momentum over the last couple of sessions, holding within the short-term simple moving averages (SMAs) and the Ichimoku cloud. The technical indicators are mirroring the latest movements as the MACD is moving sideways around the zero level and the RSI is touching its neutral threshold of 50. If the market manages to pick up speed, the 40-period SMA at 1.1375 could offer nearby resistance ahead of the 1.1400 psychological mark. A significant close above the [..]

Technical Analysis – AUDUSD bullish efforts suppressed by 100-MA

Posted on February 17, 2022 at 9:37 am GMT

AUDUSD is struggling to stretch north of the Ichimoku cloud and the 100-day simple moving average (SMA) after the price bounce within the 0.6963-0.7020 base. The SMAs are endorsing a bearish bias in the pair with the 100- and 200-day SMAs specifically safeguarding the one-year decline from the three-year peak of 0.8006. Currently, the Ichimoku lines do not reflect strong driving forces, while the short-term oscillators convey a picture where positive momentum is gaining strength. The MACD is holding above [..]

Technical Analysis – WTI oil futures defend uptrend, but signs of weakness emerge

Posted on February 17, 2022 at 8:56 am GMT

WTI oil futures (March delivery) drifted higher during the early European trading hours on Thursday in an attempt to pare the two-day losing streak which stalled around the 90 level. The market is still in a clear uptrend so far this year, keeping its bullish outlook well intact. But some discouraging signals are becoming evident in the very short-term picture. First, the price closed below the red Tenkan-sen line on Wednesday, which has been supporting the market since the start of January. [..]

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