Technical Analysis / Page 283

Technical Analysis – USDCAD stays rangebound as MAs mute the negative pullback

Posted on February 15, 2022 at 2:19 pm GMT

USDCAD is trading around the 50- and 100-period simple moving averages (SMAs), which appear to have hindered the decline from the 1.2800 handle from diving towards the lower regions of the two-week sideways market. The 50- and 100-period SMAs are endorsing an upside trend in the pair. The Ichimoku lines confirm the neutral bearing and currently do not offer convincing directional forces in the pair, while the short-term oscillators suggest that driving momentum is weak. The MACD is below its [..]

Technical Analysis – GBPUSD displays neutral tone tiptoeing on 100-MA

Posted on February 15, 2022 at 9:53 am GMT

GBPUSD is edging sideways slightly above the 100-day simple moving average (SMA) as directional impetus has disappeared. The SMAs are converging, largely endorsing a more neutral trend, with the gliding 200-day SMA nourishing bearish pressures, while the rising 50-day SMA is championing positive price moves. Currently, the Ichimoku lines are not reflecting dominant directional forces, while the short-term oscillators are transmitting mixed and weak messages in momentum. The MACD is holding a tad above its zero and trigger lines, while [..]

Technical Analysis – EURCHF’s decline pauses at lower Bollinger band as positive momentum arises

Posted on February 15, 2022 at 9:04 am GMT

EURCHF has been experiencing a sharp dip in the last few four-hour sessions after peaking at the three-month high of 1.0610. However, the pair managed to halt its retreat after hitting the lower Bollinger band, while the near-term bias endorses the likelihood of a rebound. The momentum indicators further confirm that selling pressure is fading. The RSI is ticking upwards but remains below the 50-neutral mark, while the stochastic oscillator is ascending steeply after hovering in the oversold area. Should the positive momentum strengthen and the price continues to slope upwards, initial resistance could be encountered [..]

Technical Analysis – EURJPY bulls wake up near 200-SMA, but can they dominate?

Posted on February 15, 2022 at 8:55 am GMT

EURJPY found a strong footing around the 200-day simple moving average (SMA) and the 130.44 level despite a flash breakout to 130.00 on Monday, with the price currently looking to re-enter the 131.00 territory. The pair has retraced more than half of February’s rally and selling tendencies could persist in the short-term as the technical oscillators maintain a negative trajectory. That said, the RSI is currently rejecting any extensions below its 50 neutral mark, while the MACD is still some distance [..]

Technical Analysis – AUDUSD extends decline as negative forces linger

Posted on February 14, 2022 at 9:44 am GMT

AUDUSD has been marching higher since late January when the price managed to cease its downtrend at the 18-month low of 0.6966. However, in the last few four-hour sessions the pair has been experiencing a sharp dip after the 0.7248 level rejected any further advances. The short-term oscillators further reinforce that selling pressure has intensified. The MACD histogram has dived below both zero and its red signal line, while the RSI is sloping downwards beneath the 50-neutral mark. Furthermore, the [..]

Technical Analysis – EURUSD resumes negative bearing below 1.15 handle

Posted on February 14, 2022 at 9:27 am GMT

EURUSD has successfully weighed on the 50-day simple moving average (SMA) – coupled with the mid-Bollinger band – and growing bearish pressures have now clearly pushed below 1.1323, crushing buyers’ efforts to breach the 1.1500 barrier. The longer-term falling 100- and 200-day SMAs are endorsing the eight-month descent from the 1.2266 peak, while the 50-day SMAs’ bounce has softened, indicating that the rally from the near 20-month low of 1.1120 has been curbed. The short-term oscillators are reflecting that negative [..]

Technical Analysis – Gold raises its bullish stakes after victorious rally

Posted on February 14, 2022 at 8:56 am GMT

Gold ran with full speed on Friday to breach the descending trendline and claim a new higher high at 1,865, marking its largest daily increase since October. The precious metal opened the new week on a negative note, though the 1,850 resistance switched immediately to support, providing some relief that Friday’s bullish breakout could be more durable. Downside pressures could persist as the Stochastics have drifted lower and are set to exit the overbought zone. Yet the steep ascent in [..]

Technical Analysis – AUDJPY keeps bullish mood intact with bounce off 200-MA

Posted on February 11, 2022 at 1:30 pm GMT

AUDJPY has pushed over the mid-Bollinger band and is confronting the 83.00 handle after gaining some traction from the 200-period simple moving average (SMA). The longer-term horizontal SMAs are endorsing the broader neutral picture, while the climbing 50-period SMA, which is nearing a bullish crossover of the 200-period SMA as well, suggests that the recent upside trend from the 80.36 trough remains active. The short-term oscillators are reflecting that positive momentum is regaining strength. The MACD, in the positive zone [..]

Technical Analysis – GBPUSD trendless despite growing bullish forces

Posted on February 11, 2022 at 9:50 am GMT

GBPUSD buyers have resurfaced around the 100-period simple moving average (SMA) after the pair’s recent retreat from a 1.3643 spike. Currently, the SMAs have tangled and are not indicating a clear message in terms of a price direction. That said, the 50-period SMA has regained its incline and has just crossed above the 200-period SMA, tilting the directional scale in favour of the upside. The short-term oscillators are indicating that driving momentum in the pair has practically disengaged. The MACD [..]

Technical Analysis – USDCAD unchanged in neutral trajectory

Posted on February 11, 2022 at 8:56 am GMT

USDCAD has been oscillating back and forth this week, unable to sustain its strength above the 1.2700 level. Yet the pair remained well supported around the 1.2665 floor, making another attempt to reach Monday’s high of 1.2755 above the 50-day simple moving average (SMA) today. The technical indicators are somewhat favoring the current upside pressure in the price, reflecting a neutral-to-bullish bias. The RSI has refused to cross below its 50 neutral mark and is gradually pushing for some recovery, [..]

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