Technical Analysis / Page 289

Technical Analysis – Google’s stock nosedives after big bullish gap

Posted on February 2, 2022 at 4:07 pm GMT

Google’s stock opened with a big positive gap on Wednesday to almost touch November’s record high of 3,033 in the aftermath of Tuesday’s upbeat Q4 earnings report. Sellers, however, took immediately control of the market, squeezing the price back below the 3,000 level. The short-term risk is still in the bullish area as the RSI is maintaining a steep positive slope above its 50 neutral mark, while the MACD remains comfortably elevated above its red signal line. Yet, with the [..]

Technical Analysis – Facebook’s stock opens higher ahead of Q4 earnings

Posted on February 2, 2022 at 3:05 pm GMT

Facebook’s stock opened above its 20-day simple moving average (SMA) on Wednesday, extending its quick rebound to 326.44 ahead of its earnings release. Trend signals remain unfavorable as long as the price continues to fluctuate within the downward-sloping channel. On top of that, the 20-day SMA failed to cross back above the longer-term 200-day SMA recently, heightening concerns that the bearish pattern could stay in place for longer. On the other hand, the momentum indicators are looking more encouraging. The MACD has [..]

Technical Analysis – NZDUSD bounces at 16-month low but bearish tone persists

Posted on February 2, 2022 at 11:20 am GMT

NZDUSD buyers emerged around the 0.6528 mark just shy of a key support base of the broader uptrend, where a five-month rally in the pair began, recording a 3½-year high of 0.7464. The diving simple moving averages (SMAs) are shielding the bearish mood in the pair. Currently, the Ichimoku lines are indicating a pause in downward forces as buyers are opposing the decline. Moreover, the short-term oscillators are reflecting the fresh surge in positive momentum, which evolved at the 16-month [..]

Technical Analysis – EURCHF struggles to strengthen positive move

Posted on February 2, 2022 at 10:24 am GMT

EURCHF is looking neutral in the short-term, hovering within the short-term simple moving averages (SMAs) and the 1.0360 support level. The bullish doji candle that was posted in the previous sessions, is suggesting an upside reversal move that will be completed if the pair climbs above 1.0510. Regarding the technical indicators, the RSI is holding near the 50 level with steady momentum, while the MACD is surpassing its trigger line below the zero level. The red Tenkan-sen line is standing below the blue Kijun-sen line, [..]

Technical Analysis – GER 40 index pares January’s losses; bearish double top intact

Posted on February 2, 2022 at 8:21 am GMT

The German 40 index (cash) has been on the rise since the rotation just above the 14,814 base early last week, with the price currently pushing for a close above its simple moving averages (SMAs) around 15,700. The latest upturn in the RSI and the positive momentum in the MACD are endorsing the ongoing bullish action in the price, though some caution is still warranted as the former has yet to clearly cross above its 50 neutral mark. In addition, [..]

Technical Analysis – Gold slips below 1,800 mark as positive momentum abates

Posted on February 2, 2022 at 8:10 am GMT

Gold has managed to stage a partial rebound after its sharp decline halted at the 1,780 region. However, the near-term picture has deteriorated again, with the bullion losing some ground in the last few four-hour sessions. This recent pullback from 1,854 is likely to resume as momentum indicators confirm the loss of steam for the commodity. The stochastic oscillator is sloping downwards near the oversold area, while the RSI is ticking down beneath the 50-neutral mark. Moreover, the price is [..]

Technical Analysis – GBPJPY bounces back as positive momentum arises

Posted on February 2, 2022 at 8:06 am GMT

GBPJPY has bounced back from its late-December low, crossing above its 50- and 200-period simple moving average (SMA) as positive momentum resurfaced. However, the 50-period simple moving average (SMA) has recently crossed below the 200-period SMA, reinforcing fears for a long-term bearish outlook. Short-term momentum indicators are reflecting a positive bias for the pair as the RSI is located above its 50 neutral mark. Moreover, the MACD is found above zero and its red signal line, which might indicate that [..]

Technical Analysis – USDJPY declines in ascending channel in near term

Posted on February 2, 2022 at 8:05 am GMT

USDJPY is falling for the fourth consecutive day, meeting the 20- and 40-day simple moving averages (SMAs) following the pullback off the 115.65 resistance level. The technical indicators are mirroring the latest weak momentum, as the RSI is flattening near its neutral threshold of 50, while the MACD is holding near its zero level. Also, the Ichimoku lines are endorsing a negative move as the red Tenkan-sen line is holding below the blue Kijun-sen line. In case the bears continue [..]

Technical Analysis – EURGBP consolidates but reserves bearish tilt

Posted on February 1, 2022 at 3:54 pm GMT

EURGBP has returned below its horizontally entwined 50- and 100-period simple moving averages (SMAs) following its fresh bounce at two-year low levels, which was curbed by the upper Bollinger band around 0.8359. The descending 200-period SMA is defending the bearish outlook, while the drifting 50- and 100-period SMAs are backing a sideways trend. In addition, the static Bollinger bands have yet to disperse and thus infer that volatility has dropped, which could be a sign that a bigger price move [..]

Technical Analysis – USDCAD marks yet more higher lows; bullish forces linger

Posted on February 1, 2022 at 3:14 pm GMT

USDCAD has marked yet more higher highs and higher lows since mid-January as bullish forces linger. Moreover, the 50-period simple moving average (SMA) is closing the gap with the 200-period SMA, and if the former manages to cross above the latter, it would reinforce the case of a sustained bullish outlook. Short-term momentum indicators are reflecting a mixed picture as the RSI is hovering slightly above its 50 neutral mark. However, the MACD is found below its red signal line [..]

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