Technical Analysis / Page 284

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

Posted on February 11, 2022 at 8:32 am GMT

GBPAUD has marked yet more higher lows since early-November as positive forces linger. Moreover, the pair is trading above its 50- and 200-day simple moving averages (SMA), reinforcing its overall bullish outlook. Short-term momentum indicators are reflecting a mixed picture as the RSI is hovering above its 50 neutral mark. However, despite being above zero, the MACD is found below its red signal line, which indicates that positive momentum might be fading. Should the bulls maintain control, the August high [..]

Technical Analysis – US dollar index battles with 50-SMA as positive momentum intensifies

Posted on February 11, 2022 at 8:29 am GMT

The US dollar index has experienced a minor pullback in the short-term after peaking at the 19-month high of 97.41. However, the price has regained traction since the 95.10 floor rejected a price decline twice, while the 50-day simple moving average (SMA) seems to be capping its upside move. The momentum indicators reflect that bullish forces have gained the upper hand. The stochastic oscillator is trending upwards, and the RSI is pointing up after crossing above its 50-neutral mark. Should [..]

Technical Analysis – GBPJPY trades below 3½-month high but still above uptrend line

Posted on February 11, 2022 at 8:25 am GMT

GBPJPY has been trading within an ascending movement over the last two months, with a higher high around the upper band of the long-term trading range of 148.90-158.20. Yesterday, the pair reached a fresh three-and-a-half-month high near 158.05 but today; it is returning some gains. Regarding the technical indicators, the RSI is pointing marginally south around the overbought region; however, the MACD oscillator is stretching its positive movement above its trigger and zero lines. Moreover, the 20- and 40-day simple moving averages (SMAs) were ready for bearish cross, [..]

Technical Analysis – US 30 index gains kept buoyant by flat 200-MA

Posted on February 10, 2022 at 3:48 pm GMT

The US 30 stock index (Cash) has managed to hold above the 200-period simple moving average (SMA) after today’s downside move was rejected by the mid-Bollinger band at 35,463. The 100-period SMA has started to build a minor positive incline, while the soaring 50-period SMA is looking for a bullish crossover of the horizontal 200-period SMA as well. This would signal that the bullish trend that evolved around the end of January could develop further. The short-term oscillators suggest the latest pullback [..]

Technical Analysis – USDCHF moves sideways after its rebound stalls

Posted on February 10, 2022 at 12:33 pm GMT

USDCHF has recovered some lost ground after its short-term decline ceased at the 0.9177 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. The momentum indicators suggest that bullish forces are still prevailing. More specifically, the stochastic oscillator is sloping upwards, while the RSI is ticking up above its 50-neutral mark. Additionally, the price is currently trading above the Ichimoku cloud, confirming the broader bullish near-term picture. [..]

Technical Analysis – Alcoa’s stock brightens bullish outlook at fresh record high

Posted on February 10, 2022 at 10:45 am GMT

Alcoa’s shares surged to a new all-time high of 72.21 on Wednesday, raising their year-to-date gains to +20%. The stock has upgraded its long-term positive outlook above the seven-month-old bullish channel, though with the price having closed twice above the upper Bollinger band, the odds for a downside correction in the short-term are looking increasingly high as the RSI and the Stochastics hover in overbought territory. A bearish reversal could initially test the channel’s upper boundary and Tuesday’s floor of 67.00 ahead of the former [..]

Technical Analysis – EURJPY maintains bullish tone sparked by Lagarde

Posted on February 10, 2022 at 9:34 am GMT

EURJPY has overcome the three-month high of 132.15, recorded after the price soared in response to ECB President Lagarde’s surprise hawkish tone at the last week’s meeting as the governing council reiterated concern about high inflation data. The positive incline in the longer-term 100- and 200-period simple moving averages (SMAs) and the bullish crossover of them by the climbing 50-period SMA, are together endorsing the bullish mood in the pair. The Ichimoku lines are implying that bullish forces have powered [..]

Technical Analysis – Natural gas decline halts at 50-SMA but bias remains bearish

Posted on February 10, 2022 at 9:02 am GMT

Natural gas futures (March 2022 delivery) have been experiencing a sharp sell-off in the short term after their recent rebound came short. Although their dip stalled at the 50-day simple moving average (SMA), bearish forces seem to remain in control. The short-term oscillators suggest that the near-term picture is deteriorating for the commodity. The MACD histogram is found above zero but below its red trigger line, while the RSI is edging lower in the negative zone. If selling interest intensifies [..]

Technical Analysis – NZDUSD crosses above its 50-SMA; positive bias arises

Posted on February 10, 2022 at 8:45 am GMT

NZDUSD has powered back from its 16-month low in late January, as positive forces resurfaced. Moreover, the pair has recently crossed above its 50-period simple moving average (SMA), which is another sign that the outlook may 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 recent positive momentum might be [..]

Technical Analysis – WTI futures stands below 7-year high and 90.00

Posted on February 10, 2022 at 8:16 am GMT

WTI crude oil futures are struggling to gain positive momentum after their pullback off the seven-year high of 93.15. The downside reversal in the RSI and the slowdown in the MACD justify the diminishing buying pressure, though both remain well above their neutral thresholds keeping the short-term risk skewed to the upside. In trend indicators, the bullish cross between 20- and 50-day simple moving averages (SMAs) is still an encouraging signal. Should selling forces strengthen, the Fibonacci retracement levels of the [..]

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