Technical Analysis / Page 290

Technical Analysis – US 500 index advances above 200-day SMA again

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

The US 500 stock index (cash) has rebounded after falling to a seven-month low of 4,210 on January 24 and momentum indicators now suggest that the market sentiment might get better as the RSI is reversing back to the upside after falling to an oversold level. The MACD also looks to be changing direction, moving up to meet its trigger line in a negative zone. Should bullish dynamics dominate, the market might revisit the 20- and then the 40-day simple [..]

Technical Analysis – WTI futures approach uptrend line with strong momentum

Posted on February 1, 2022 at 10:24 am GMT

WTI crude oil futures have been trading within an ascending channel over the last one-and-a-half-month, with the latest downside move testing the uptrend line. The RSI is currently increasing negative momentum towards its neutral threshold of 50, while the MACD is slowing down in positive territory, both hinting that the next move in prices could be on the downside rather than on the upside. Should the market extend losses, support could be met at the 86.40 mark, which overlaps with [..]

Technical Analysis – EURJPY rebounds ahead of 128 handle, neutral tone prevails

Posted on February 1, 2022 at 9:58 am GMT

EURJPY buyers have managed to recoup the last week of losses through yesterday’s trading session and are now struggling to beat the 50-day simple moving average (SMA) at 129.26. The positive price action has underpinned the sideways bearing in the pair that has extended for around half a year, an outlook that the SMAs are endorsing too. Currently, the Ichimoku lines are not indicating a convincing direction in the pair, while the short-term oscillators are reflecting conflicting energy in directional [..]

Technical Analysis – USDJPY’s short-term rally falters as positive momentum fades

Posted on February 1, 2022 at 8:57 am GMT

USDJPY has been trending upwards after its long-term decline halted at the 113.46 region, erasing a significant part of its losses. However, in the last few four-hour sessions the pair has been giving up ground since its positive momentum failed to strengthen further. The momentum indicators also reinforce a loss of steam for the pair. The MACD histogram is found below the red signal line but remains in the positive area, while the stochastic oscillator has posted a bearish crossover in the oversold zone. However, the [..]

Technical Analysis – GBPUSD keeps moving up in short-term; next obstacle at 1.3500

Posted on February 1, 2022 at 7:43 am GMT

GBPUSD is flirting with the 40-day simple moving average (SMA) after the pullback off the 1.3360 support level, remaining within the Ichimoku cloud. The recent upside move is recovering the declining move from the 1.3750 barrier. According to technical indicators, the RSI is approaching the 50 level with weak momentum, while the stochastic oscillator posted a bullish crossover within its %K and %D lines in the oversold territory. Both are suggesting a positive movement in the short-term timeframe. If the [..]

Technical Analysis – JP 225 index bounces off 14-month low as negative bias eases; bearish outlook holds

Posted on January 31, 2022 at 10:16 am GMT

The JP 225 stock index (cash) has been experiencing a sharp decline in the past two weeks, generating a clear structure of lower highs and lower lows. The index managed to halt its decline 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 MACD histogram remains beneath both zero and its red signal line but its downfall reversed, while the stochastic oscillator [..]

Technical Analysis – NZDUSD has reached a 16-month low; bearish forces linger

Posted on January 31, 2022 at 8:52 am GMT

NZDUSD continued its retreat in January reaching a 16-month low amid strong negative forces. Moreover, the pair is currently trading way below its 50- and 200-period simple moving averages (SMA), with the former crossing below the latter, reinforcing fears of a sustained bearish outlook. Short-term momentum indicators are reflecting a mixed picture as the RSI is located below its 50 neutral mark. However, the MACD is found above its red signal line despite being in negative territory, which indicates that [..]

Technical Analysis – Gold’s collapse subsides but downside risks remain

Posted on January 31, 2022 at 8:50 am GMT

Gold has found some footing in the vicinity of the lower Bollinger band and recent trading session troughs, following a freefall in the commodity – due to a more aggressive message from the Federal Reserve regarding rate hikes – from 1,854, which extended below the simple moving averages (SMAs) and the 1,800 handle. The dipping 50-day SMA is reflecting that the trend in the commodity has become increasingly negative. The short-term oscillators are skewed to the downside but have yet [..]

Technical Analysis – EURUSD recoups some losses from 20-month low; broader outlook is bearish

Posted on January 31, 2022 at 8:24 am GMT

EURUSD rebounded off the 20-month low of 1.1120 that it posted in the previous week after the aggressive downside move below the short-term ascending trend line. Technically, the 20- and 40-day simple moving averages (SMAs) are ready for a bearish cross in the short-term, and the MACD oscillator is extending its bearish structure below its trigger and zero lines. However, the RSI indicator is pointing upwards in the negative region. A successful move higher, may find immediate resistance at the 1.1185 barrier ahead [..]

Technical Analysis – USDCAD rockets off 200-MA, fuelling upward trajectory

Posted on January 28, 2022 at 8:58 am GMT

USDCAD remains positively energized aiming for the Ichimoku cloud’s upper band around the 1.2813 high, after taking flight from the 200-day simple moving average (SMA) around the 1.2500 mark. The longer-term SMAs are suggesting an overall neutral trend in the pair, while the marginal incline in the 50-day SMA is sponsoring the recent rally from the 1.2500 level. Currently, the Ichimoku lines are converging, failing to indicate a leading directional force, while the short-term oscillators are skewed to the upside. [..]

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