Technical Analysis / Page 285

Technical Analysis – AUDUSD crosses key barrier; bullish double bottom in progress

Posted on February 10, 2022 at 8:07 am GMT

AUDUSD is in the second consecutive week of gains around 0.7180, having marginally surpassed its shorter-term simple moving averages (SMA), which had been controlling bullish forces more vitally since mid-January onwards. Notably, the pair has also overcome the restrictive 200-SMA in the weekly chart. Of course, the soft bullish breakout still requires confirmation, but with the RSI rising above its 50 neutral mark, the MACD recovering above its red signal line, and the Stochastics pivoting northwards again, the current positive [..]

Technical Analysis – UK 100 index powers back as bullish forces linger

Posted on February 9, 2022 at 3:22 pm GMT

The UK 100 cash index came back swinging after its January retreat as positive momentum resurfaced. Currently, the index is trading well above its 50- and 200-day simple moving averages (SMAs), and has marked yet more higher lows supporting an overall bullish outlook. Short-term momentum indicators are also reflecting a positive bias as the RSI is hovering above its 50 neutral mark. Moreover, the MACD is found above zero and its red signal line, which indicates that the recent positive [..]

Technical Analysis – Disney’s stock pivots at yearly lows but could crumble still

Posted on February 9, 2022 at 1:48 pm GMT

Disney’s stock has been sailing southwards since the peak at a record high of 202.87 almost a year ago, recently charting a new lower low at 129.10 before crawling back to 142.30. Despite the upturn in the RSI and the MACD, the former has yet to break above its 50 neutral mark and the latter is still hovering within the negative region, both reflecting some caution among traders ahead of the company’s post-market Q1 earnings release today. A step above [..]

Technical Analysis – Brent futures remains below upper Bollinger band and 94.00

Posted on February 9, 2022 at 11:31 am GMT

Brent crude oil futures are easing after they reached the upper Bolling band and a new high at 94.00 on Monday. The RSI indicator is falling from the overbought region, while the MACD is dropping below its trigger line in the positive area, both suggesting a negative correction in the short-term timeframe. If the price retreats further, the mid-level of the Bollinger band, which is also the 20-day simple moving average (SMA) at 88.37 could come immediately in focus. A [..]

Technical Analysis – GBPCAD powers back as positive forces linger

Posted on February 9, 2022 at 11:16 am GMT

GBPCAD came back swinging after its January retreat as the bearish forces appeared to run out of steam. Moreover, the pair crossed above both its 50- and 200-day simple moving averages (SMAs), while the latter also rejected a temporary minor pullback, endorsing the bulls’ hopes for a more sustained uptrend. The momentum indicators suggest that the near-term risks are tilted to the upside. The MACD is found above both zero and its red trigger line, while the RSI is ticking upwards in the positive territory. Should the bulls maintain [..]

Technical Analysis – GBPJPY bullish but loses steam ahead of 157 barrier

Posted on February 9, 2022 at 9:29 am GMT

GBPJPY’s positive drive has become feeble after its two-week rally stretched to the 156.71 level, just shy of the 157.00 handle. The climbing 50-period simple moving average (SMA) and its near bullish crossover of the ascending longer-term 200-period SMA suggests the short-term rally may endure a while longer. Currently, the Ichimoku lines are implying that upside forces are taking a breather, while the short-term oscillators are hinting of minor drawbacks in positive momentum. The MACD, in the positive region, is [..]

Technical Analysis – EURUSD fires up as bullish forces resurface

Posted on February 9, 2022 at 8:58 am GMT

EURUSD has witnessed a significant upside in early-February as positive momentum resurfaces. Moreover, the pair is currently trading above its 50- and 200-period simple moving average (SMA), with the former looking ready to cross over the latter, which could reinforce the case of a sustained 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 [..]

Technical Analysis – Silver crosses above 50-SMA as positive momentum strengthens

Posted on February 9, 2022 at 8:52 am GMT

Silver has been trending downwards in the short term after its recent rebound was rejected by the 200-day simple moving average (SMA). However, in the last few daily sessions, the metal has gained traction, crossing above its 50-day SMA and recouping part of its losses. The momentum indicators endorse the likelihood of a sustained recovery for the commodity. The stochastic oscillator is marching higher in the overbought area, while the RSI is hovering above its 50-neutral mark. Should the positive [..]

Technical Analysis – USDJPY preserves bullish hopes near familiar resistance

Posted on February 9, 2022 at 8:25 am GMT

USDJPY revived its bullish momentum on Tuesday, but its efforts proved fruitless against the 115.50 border once again. The bulls, however, may not give up the battle. With the MACD growing above its zero and signal lines and the RSI fluctuating comfortably above its 50 neutral mark, although close to its previous resistance territory, there is scope for further progress in the market. The Ichimoku lines endorse this view, as the red Tenkan-sen is set to cross above the blue [..]

Technical Analysis – NZDUSD looks bearish in medium-term; holds below downtrend line

Posted on February 9, 2022 at 7:59 am GMT

NZDUSD is struggling to gain strong positive momentum after its fast rebound from the 16-month low of 0.6524, stalling around the 20-day SMA, which overlaps with the 23.6% Fibonacci retracement level of the downward move from 0.7220 to 0.6524 at 0.6687 and within the 0.6700 psychological level. The flattening mode in the RSI in the negative zone and the marginal positive move in the MACD below its zero level, justify the weak buying pressure keeping the short-term risk skewed to [..]

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