Technical Analysis / Page 282

Technical Analysis – US 500 battles with 200-SMA as bias turns cautiously bullish

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

The US 500 stock index (cash) has been in a recovery mode since its short-term decline halted at the seven-month low of 4,220. Although the index’s upside move experienced a minor pullback, the near-term picture seems to be improving and the price is currently pivoting near its 200-day simple moving average (SMA). The momentum indicators further confirm that bullish forces have re-emerged. The stochastic oscillator is sloping upwards after posting a bullish cross, while the MACD histogram is found above [..]

Technical Analysis – USDCHF dives within the symmetrical triangle below 20-day SMA

Posted on February 17, 2022 at 8:54 am GMT

USDCHF is falling sharply in the short-term, visiting the 20-day simple moving average (SMA). After several flat days and the pullback on the descending trend line of the symmetrical triangle on the price action, the technical indicators are looking somewhat negative. The RSI is pointing down around the neutral threshold of 50, while the MACD is holding beneath its trigger line. If selling interest persists, immediate support could come from the 40-day SMA currently at 0.9200 If selling interest persists, [..]

Technical Analysis – USDJPY marks yet more higher lows; overall bullish outlook

Posted on February 17, 2022 at 8:39 am GMT

USDJPY has recently crossed below its 50-period simple moving average (SMA) as negative forces are gaining ground. However, the pair has marked yet more higher lows and higher highs since mid-January, which together with the 50-period SMA crossing above the 200-period SMA reinforce the thesis for a sustained bullish outlook. Moreover, the pair is currently trading near its lower Bollinger Band indicating that an immediate upside move should not be ruled out. Short-term momentum indicators are reflecting a negative bias [..]

Technical Analysis – GBPJPY returns below 157 hurdle but maintains bullish mood

Posted on February 16, 2022 at 3:51 pm GMT

GBPJPY buyers have re-emerged around the 50-period simple moving average (SMA), shortly after the withdrawal of the pair from the 157.00 price vicinity. The gradual positive incline in the SMAs is underpinning upside moves in the pair. The short-term oscillators are transmitting weak and conflicting messages in directional momentum. The MACD has flatlined and is marginally above its red trigger and zero lines. The RSI is fluctuating around the 50 neutral threshold but is currently pointing north a tad in [..]

Technical Analysis – BTCUSD restores bullish momentum; eyes 45,000

Posted on February 16, 2022 at 12:33 pm GMT

BTCUSD (Bitcoin) pivoted nicely near the 41,474 support region on Tuesday, signaling that the rebound off the 32,950 low and, more recently, the bullish trendline breakout has further to go. The base overlaps with the 23.6% Fibonacci retracement of the 68,999 – 32,950 downtrend and the 50-day simple moving average (SMA). Hence, any further extensions above this floor may keep bullish momentum alive, especially as the MACD is stepping higher in the positive region and its red signal line. The [..]

Technical Analysis – USDJPY uptrend intact as negative pullbacks negated

Posted on February 16, 2022 at 9:45 am GMT

USDJPY is exhibiting a bullish tone as it approaches the 116.00 handle after the 50- and 100-day simple moving averages (SMAs) defused sellers’ attempts to steer the pair lower. The soaring SMAs are shielding the broader ascent in the pair. Additionally, the short-term oscillators suggest that upside momentum is growing. The MACD is holding above its red signal line in the positive section, while the RSI is creeping higher in the bullish zone. Furthermore, the uptick in the stochastic %K [..]

Technical Analysis – Gold rises above 23.6% Fibo; bullish in short-term

Posted on February 16, 2022 at 9:02 am GMT

Gold prices are heading upwards after the bounce off the 1,844 support level and is currently trying to surpass the 23.6% Fibonacci retracement level of the up leg from 1,780 to 1,879.40 at 1,856. The RSI indicator is pointing marginally up in the positive region with weak momentum, while the MACD is falling below its trigger line in the bullish area. Should the pair manage to strengthen its positive momentum, the next resistance could come around the eight-month high of [..]

Technical Analysis – EURGBP’s rebound pauses but bullish forces still in play

Posted on February 16, 2022 at 8:46 am GMT

EURGBP has been recouping part of its losses after its short-term decline ceased in the 0.8345 region. However, in the last few four-hour sessions, its ongoing rebound seems to be faltering as the price has adopted a more sideways pattern, while its near-term bias remains cautiously positive. The short-term oscillators indicate that despite the recent loss of momentum the bulls still hold the upper hand. Specifically, the RSI has crossed above its 50-neutral mark and the MACD histogram is currently found beneath zero [..]

Technical Analysis – NZDUSD looks for a bullish breakout but how far could it go?

Posted on February 16, 2022 at 8:38 am GMT

NZDUSD refused to return to the bottom of its downtrend earlier this week, pivoting once again near the 0.6600 round level to retest the 20-day simple moving average (SMA) at 0.6640, which has been constraining bullish actions for almost a week now. The way higher, however, looks to be bumpier and the bulls will need to breach a few more barriers before they stage a meaningful rally. The RSI and the MACD are also reflecting some caution among traders. Although they [..]

Technical Analysis – WTI futures erases the latest bullish move to almost 7½-year high in the very short-term

Posted on February 15, 2022 at 2:25 pm GMT

WTI crude oil futures are falling back below the almost seven-and-a-half-year high of 95.78, reaching the 92.00 barrier. If the price retreats beneath the 20-period simple moving average (SMA) the next support could come from the 40-period SMA at 91.32. Immediate support then could come from the medium-term ascending trend line around 90.00. A drop below the diagonal line could shift the market to neutral, meeting the lower surface of the Ichimoku cloud at 89.70 and the 88.80 mark. The [..]

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