Technical Analysis / Page 286

Technical Analysis – Gold climbs above the MAs and the Ichimoku cloud

Posted on February 8, 2022 at 3:40 pm GMT

Gold recently breached the 1,800 handle and has extended beyond the simple moving averages (SMAs) and the Ichimoku cloud. Although the longer-term averages are endorsing a more neutral trend, the upturn of the 50-period SMA, is suggesting upside momentum is gaining the upper hand. The short-term oscillators are indicating a positive preference in the price. The MACD, in the positive section, is sustaining its gradual climb above its red trigger line, while advances in the RSI have neared the 70 [..]

Technical Analysis – US 100 index rangebound but downside risks remain

Posted on February 8, 2022 at 10:37 am GMT

The US 100 stock index (cash) has been experiencing a minor pullback after its recent short-term rebound failed to strengthen. However, in the last few four-hour sessions, the price is moving without a clear direction, pivoting near its 50-period simple moving average (SMA). The momentum indicators suggest that near-term risks are tilted to the downside. The RSI is flatlining in the negative zone, while the MACD histogram is found below both zero and its red signal line. Should the bearish forces [..]

Technical Analysis – EURGBP bears take the upper hand again

Posted on February 8, 2022 at 10:04 am GMT

EURGBP opened the week on a negative note, keeping its footing around the Ichimoku cloud and the 0.8400 handle. Trend signals remain daunting as the price continues to trade comfortably below its 200-day simple moving average (SMA), which proved to be a tough resistance area. As regards the market momentum, some pessimism seems to be building and a downside correction may be looming as the RSI is sloping down in the positive territory, while the MACD is moving with weak momentum around its zero area. Should the [..]

Technical Analysis – GBPUSD sends bearish vibes below 20-SMA

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

GBPUSD saw its bullish efforts evaporate near its 20-day simple moving average (SMA) on Monday, with the pair finishing the day muted and beneath last week’s peak of 1.3627 once again. The above suggests the bears are still in charge and a downside correction below the nearby support of 1.3520 and towards the tentative ascending trendline and the 50-day SMA both at 1.3436 is still very likely. The negative slope in the RSI and the MACD, which are currently near their [..]

Technical Analysis – WTI futures bullish but directional forces evaporate

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

WTI oil futures have stabilized, tiptoeing across the 89.70-90.72 support barrier after a pullback from the near 7½-year high of 93.15. The soaring simple moving averages (SMAs) are safeguarding the broader positive structure despite the minor retreat in the price of the black liquid. The Ichimoku lines suggest guiding forces have fairly dried up, while the short-term oscillators are reflecting a slight weakening in the positive momentum. The MACD, some distance above zero, is fading below its red trigger line, [..]

Technical Analysis – Microsoft stock moves sideways after its rebound falters

Posted on February 8, 2022 at 8:13 am GMT

Microsoft stock has recovered some lost ground after its short-term decline ceased at the six-month low of 275.80 in January. However, in the last few sessions, its ongoing rebound seems to be stalling as the price has adopted a more sideways pattern. The momentum indicators depict that selling forces have gained the upper hand. More specifically, the stochastic oscillator is steeply sloping downwards, while the RSI has flatlined below the 50-neutral mark. Additionally, the price is currently trading beneath the Ichimoku cloud, [..]

Technical Analysis – EURCHF powers up as bullish forces resurface

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

EURCHF has witnessed a significant upside in early-February as positive forces resurface. Moreover, the pair is currently trading well above its 50- and 200-period simple moving average (SMA), with the former crossing over the latter, reinforcing the thesis of a sustained bullish outlook. Short-term momentum indicators are reflecting a mixed picture as the RSI is located above its 50 neutral mark. However, despite being above zero, the MACD is found below its red signal line, which indicates that positive momentum [..]

Technical Analysis – EURJPY battles with 131.60, below falling trend line

Posted on February 8, 2022 at 8:02 am GMT

EURJPY has been in a battle with the 131.60 support level over the last couple of sessions, holding below the long-term descending trend line. It is worth to mention that the price remains well above the 200-day simple moving average (SMA) as well as above the short-term SMAs, which are ready for a bullish crossover. From a technical perspective, the RSI indicator is standing slightly below the overbought region with weak momentum, while the MACD is stretching the bullish movement [..]

Technical Analysis – US 500 index’s gains curbed by downtrend line and 200-MA

Posted on February 7, 2022 at 11:20 am GMT

The US 500 stock index (Cash) is currently consolidating in the vicinity of the 100-period simple moving average (SMA) after the recent retreat in the price bounced off the 50-period SMA. The longer-term 100- and 200-period SMAs have yet to indicate that the bearish trend has faded. However, the rising 50-period SMA is advertising a bullish crossover of the 100-period SMA, which if achieved would suggest upside pressures are gaining some ground. The short-term oscillators are reflecting the minor negative [..]

Technical Analysis – EURNZD breaks 2021 high within ascending channel

Posted on February 7, 2022 at 11:10 am GMT

EURNZD halted its impressive rally at a 15-month high of 1.7357 on Friday and near the top line of the upward-sloping channel, which has been navigating the market since the slide to a three year low of 1.6061 in late November. A downside correction or some consolidation would be normal at the current stage of the bullish wave, though how brutal any pullback could be is still in question since the RSI and the Stochastics, although in overbought territory, have yet to [..]

Legal disclaimer: The material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instruments. XM accepts no responsibility for any use that may be made of these comments and for any consequences resulting in it. No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. The research and analysis does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it.

It has not been prepared in accordance with legal requirements designed to promote the independence of research, and as such it is considered to be marketing communication. Although we are not specifically constrained from dealing ahead of the publication of our research, we do not seek to take advantage of it before we provide it to our clients. We aim to establish, maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. We operate a policy of independence, which requires our employees to act in our clients’ best interests and to disregard any conflicts of interest in providing our services.

CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losing all of your invested capital, so please make sure that you fully understand the risks involved.

Technical Analysis

XM Live Chat