Technical Analysis / Page 294

Technical Analysis – EURUSD edges sideways after advances curbed by 100-MA

Posted on January 24, 2022 at 9:16 am GMT

EURUSD continues to exhibit a lack of directional impetus, drifting between the 50-day simple moving average (SMA) at 1.1310 and the mid-Bollinger band at 1.1345. The falling SMAs are defending the broader downtrend that started from the 1.2266 peak. Currently, the Bollinger bands are suggesting feeble volatility in the pair confined to the lower and upper Bollinger bands of 1.1247 and 1.1442 respectively. Furthermore, the short-term oscillators are indicating that guiding forces are absent, confirming that directional momentum has diminished. [..]

Technical Analysis – US 500 index meets resistance at 200-SMA; bearish outlook

Posted on January 24, 2022 at 8:44 am GMT

The US 500 cash index has witnessed a pullback from its all-time high, reaching a 3-month low amid increasing negative forces. The index has also crossed below its 50- and 200-day simple moving average (SMA), which points towards an overall bearish outlook. However, the price is currently trading below its lower Bollinger Band, indicating that an immediate upside movement should not be ruled out. Short-term momentum indicators are reflecting a mixed picture for the index. The MACD is found below [..]

Technical Analysis – USDJPY slopes downwards after short-term rebound falters

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

USDJPY has been plunging since early January when it recorded a five-year high of 116.33. Despite posting a moderate rebound after the pair found its feet at the 113.47 level, the price dipped again as positive momentum evaporated. The decline is likely to resume as short-term oscillators indicate a bearish near-term bias. The MACD histogram is found beneath both zero and red signal line, while the RSI is flatlining in the negative territory. Moreover, the 50-period simple moving average (SMA) [..]

Technical Analysis – NZDUSD steers to 13-month low levels but still neutral

Posted on January 21, 2022 at 9:05 am GMT

NZDUSD has detached from the converged simple moving averages (SMAs) and has dipped below the multiple lower wicks of the candles from January 6 till the 11. The stabilized SMAs are endorsing a more neutral trajectory in the price as the pair remains rangebound, oscillating between the 0.6678-0.6700 floor and a 0.6890-0.6910 ceiling. The falling Ichimoku lines are indicating that negative forces are commanding lately, while the short-term oscillators are suggesting that the price may test the floor of the [..]

Technical Analysis – GBPUSD hits the lower Bollinger Band; bearish forces linger

Posted on January 21, 2022 at 8:49 am GMT

GBPUSD has retreated from its January high, crossing below its 50-period simple moving average (SMA) amid increasing negative forces. However, despite the cautiously bearish outlook, the pair is trading near its lower Bollinger Band indicating that an immediate upside should not be ruled out. Short-term momentum indicators are supporting a negative bias as the RSI is found well below its 50 neutral mark. Also, the MACD is found below zero and its red signal line, which might indicate that negative [..]

Technical Analysis – GBPJPY nears key support as January’s sell-off sharpens

Posted on January 21, 2022 at 8:31 am GMT

GBPJPY continues to trend southwards so far this month following the peak at a two-month high of 157.75, with the price recently slipping back below its 20-day simple moving average (SMA) to reach a new low at 154.39 on Friday.The pair is decelerating within the lower bearish Bollinger zone and the momentum indicators are painting a gloomy picture for the short term as the MACD keeps losing ground below its red signal line and the RSI is entering the bearish [..]

Technical Analysis – USDCAD finds significant support at 200-day SMA for further declines

Posted on January 21, 2022 at 8:04 am GMT

USDCAD has found strong support at the 200-day simple moving average (SMAs) over the last few sessions, remaining above the 1.2500 psychological number. The RSI indicator is also appearing weak in the negative region, while the stochastic oscillator is heading up after the bullish crossover within the %K and %D lines in the oversold zone. In case the pair changes its very short-term neutral direction to the upside, the bulls will probably challenge the 1.2600 round number, taken from the inside swing [..]

Technical Analysis – EURJPY bearish as it dips beneath 200-MA

Posted on January 20, 2022 at 4:15 pm GMT

EURJPY’s bearish trajectory is gaining pace after the 200-period simple moving average (SMA) at 129.63 failed to provide the pair with footing as it was tested for a second time by sellers. The 50-period SMA has rolled over and has completed a bearish crossover of the flattened 100-period SMA, an action that feeds the developing negative trend in the pair. The short-term oscillators are further sponsoring the negative bearing in the price. The MACD, some distance beneath the zero threshold, [..]

Technical Analysis – USDCHF shows negative signs in the short-term

Posted on January 20, 2022 at 12:09 pm GMT

USDCHF had a bearish start on Thursday, with the price breaking a crucial level below the 20- and 40-day simple moving averages (SMAs). The pair has also increased its distance below its negatively sloped 200-SMA and the Ichimoku cloud, indicating that the recent downtrend might hold for longer. The momentum signals are bearish as well as the red Tenkan-sen line, which is below the blue kijun-sen line, looks to be heading south, while the RSI has reversed lower after failing [..]

Technical Analysis – Platinum futures revive bullish momentum; crucial obstacle overhead

Posted on January 20, 2022 at 10:30 am GMT

Platinum futures (April delivery) staged a rapid upturn on Wednesday to exit the recent consolidation area and return to November’s levels. The bull run stretched to a new high of 1,042 on Thursday, where the 61.8% Fibonacci retracement level of the latest downfall is also placed. With the RSI extending its series of higher highs and higher lows towards its 70 overbought number and the MACD finally exhibiting a notable strength within the positive area and above its red signal [..]

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