Technical Analysis / Page 297

Technical Analysis – GBPJPY drifts across 156 mark as bullish rally stalls

Posted on January 14, 2022 at 9:38 am GMT

GBPJPY is consolidating between the 156.00 handle and the 157.84 level, which is the 161.8% Fibonacci extension of the down leg from 144.94 until 124.00. The simple moving averages (SMAs) are reflecting a fragile neutral-to-bullish trend in the pair. That said, the short-term oscillators are indicating that bearish forces are growing. The MACD, deep in the positive region, has faded below its red trigger line, while the RSI is sliding in the bullish territory and is about to face a [..]

Technical Analysis – USDCAD stops near 200-SMA: temporary pause or bullish setup?

Posted on January 14, 2022 at 8:55 am GMT

USDCAD slumped towards the 200-day simple moving average (SMA) at 1.2495 after its bullish efforts to cross above the 50-day SMA and enter the 1.2700 territory collapsed, with the pair set to close 1.40% lower this week. Thursday’s session seems to have formed a bullish hammer candlestick in the chart, which foresees a reversal in price direction, though additional green candlesticks will be needed to confirm that. The Stochastics are also increasing the stakes for an upturn in the coming sessions as [..]

Technical Analysis – GBPUSD climb remains intact amid lingering bullish forces

Posted on January 14, 2022 at 8:49 am GMT

GBPUSD has staged a spectacular uptrend movement from late December amid strengthening positive momentum. Moreover, the pair’s successive higher highs together with the recent golden cross, where the 50-period simple moving average (SMA) has crossed above the 200-period SMA, reinforce the case for a sustained bullish outlook. Short-term momentum indicators reflect a mixed picture as the RSI is found above its 50 neutral mark. However, despite being above zero, the MACD is located below its red signal line, indicating that [..]

Technical Analysis – WTI futures upside risks intact despite minor pause

Posted on January 13, 2022 at 9:53 am GMT

WTI oil futures have managed to maintain their bullish bearing, which began at the start of December 2021 from 62.25, and are currently facing the November 10 high of 83.28. The longer-term simple moving averages (SMAs) are sustaining a positive incline, backing the broader uptrend in the commodity. The Ichimoku lines are indicating a small pause in bullish impetus, while the short-term oscillators are suggesting additional advances in the black liquid. The MACD, in the positive zone, is distancing itself [..]

Technical Analysis – USDCHF extends retreat after sharp sell-off

Posted on January 13, 2022 at 8:59 am GMT

USDCHF has been marching higher in the medium-term, creating a profound structure of higher highs and higher lows. However, in the last few sessions the pair has experienced a moderate pullback as the price dived beneath both its 50- and 200-day simple moving averages (SMAs). The recent retreat is likely to continue as the momentum indicators depict that negative momentum has strengthened. The stochastic oscillator is sloping downwards, while the RSI has flatlined in the negative area. Additionally, the price [..]

Technical Analysis – EURJPY continues its advance amid persisting positive forces

Posted on January 13, 2022 at 8:49 am GMT

EURJPY continues its advance from the December lows, amid persistent positive momentum. Moreover, the pair’s successive higher lows together with the recent golden cross, where the 50-period simple moving average (SMA) has crossed above the 200-period SMA, reinforce the case for a sustained bullish outlook. Short-term momentum indicators are also supporting a positive bias. The RSI is located above its 50 neutral mark, while the MACD is found above zero and its red signal line, which might indicate that momentum [..]

Technical Analysis – AUDUSD resumes bullish bias at 2-month high

Posted on January 13, 2022 at 8:24 am GMT

AUDUSD opened Thursday’s session on a positive note, aiming to repeat Thursday’s rally, which cracked the ceiling around 0.7274. The price has already recovered half of November’s sell-off to trade at a 2-month high, with the momentum indicators hinting at additional gains as the RSI has bounced back above its 50 neutral level to mark fresh highs. Likewise, the MACD jumped to the highest level since November, while the rising Stochastics are still some distance below their 80 overbought number, [..]

Technical Analysis – GBPJPY struggles to secure advances beyond multi-year high

Posted on January 12, 2022 at 2:43 pm GMT

GBPJPY is lacking bullish impetus to conquer the immediate resistance barricade shaped by the 157.75 barrier and the more than five-year high of 158.20. That said, the simple moving averages (SMAs) are defending the three-week uptrend from the 149.50 trough. Moreover, the Ichimoku lines are reflecting a pause in bullish forces, while the short-term oscillators have yet to fully line up with the pair’s mood to push higher. The MACD, in the positive zone, is strengthening above its red trigger [..]

Technical Analysis – NZDUSD treads across 76.4% Fibonacci but bearish tone remains

Posted on January 12, 2022 at 9:49 am GMT

NZDUSD has been consolidating for around one-month now as downward pressures diminished after recording a 13½-month low of 0.6700. The pair has been finding support lately from the lower Bollinger band and the 0.6734 level, which is the 76.4% Fibonacci retracement of the up leg from 0.6510 until 0.7464, even though the simple moving averages (SMAs) continue to endorse a bearish trend. The short-term oscillators are conveying mixed signals in directional impetus. The MACD, slightly beneath the zero mark, has [..]

Technical Analysis – AUDUSD’s recovery stalls at the upper Bollinger band

Posted on January 12, 2022 at 9:06 am GMT

AUDUSD is trying to recoup its losses after its short-term sharp decline halted at the 0.7129 region. Although the pair has already posted a moderate rebound, its upside trajectory is currently being capped by the upper Bollinger band. The short-term oscillators further confirm that bullish forces have gained the upper hand. The MACD histogram has crossed both above zero and its red signal line, while the RSI is ticking downwards but remains in the positive zone. Further bullish actions might [..]

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