Technical Analysis / Page 301

Technical Analysis – USDJPY faces downside risks; overall bullish outlook remains

Posted on January 3, 2022 at 8:51 am GMT

USDJPY has powered back from its December low, crossing above the 50- and 200-period simple moving average (SMA). Moreover, the 50-period SMA has crossed above the 200-period SMA, reviving hopes of a sustained bullish outlook. However, the pair is currently trading near its upper Bollinger Band, indicating that an immediate downward movement should not be ruled out. Short-term momentum indicators are supporting a negative bias as the RSI is located above its 70 overbought region, signalling that an imminent pullback [..]

Technical Analysis – AUDUSD maintains upside trajectory but positive forces wane

Posted on January 3, 2022 at 8:32 am GMT

AUDUSD is trying to stage a full rebound after its long-term downtrend halted at the 13-month low of 0.6992 in early December. Although the pair has already recouped a significant part of its losses, in the last couple of sessions its upside move has stalled as positive momentum abated. The short-term indicators reinforce the loss of positive momentum. The stochastic oscillator is sloping downwards after posting a bearish cross, while the MACD histogram is found below its red signal line in the positive region. Should the negative momentum intensify further, the pair might encounter strong support [..]

Technical Analysis – EURUSD kicks off a depressing start to 2022

Posted on January 3, 2022 at 7:52 am GMT

EURUSD opened on the negative side in the first trading day of 2022, unable to crawl above the 1.1370 resistance and the 50-day simple moving average (SMA) despite Friday’s last-minute pickup. The momentum indicators, however, continue to reflect a neutral-to-bullish bias, signaling the bulls may not abandon the battle yet. With the MACD remaining elevated above its November lows, and set to enter the positive territory, and the RSI having extended its uptrend above its 50 neutral mark, there is an opportunity [..]

Technical Analysis – WTI futures’ rally stalls above 77 mark

Posted on December 30, 2021 at 10:55 am GMT

WTI oil futures have stretched towards 77.35 and are sitting above the 50-day simple moving average (SMA) at 75.71 after an upward surge from around the 66.00 mark. The positive incline in the SMAs has faded recently. However, they have yet to confirm that the trend has shifted to the downside. The short-term oscillators are transmitting conflicting messages in directional impetus. The MACD is improving over the zero line signalling that bullish forces are still present, while the stochastic lines [..]

Technical Analysis – EURJPY powers back amid strengthening positive momentum

Posted on December 30, 2021 at 9:50 am GMT

EURJPY powered back from its December low, crossing above the 50- and 200-period simple moving average (SMA). Moreover, the 50-period SMA has crossed above the 200-period SMA, reviving hopes of a sustained bullish outlook. However, the pair is currently trading near its upper Bollinger Band, indicating that an immediate downward movement should not be ruled out. Short-term momentum indicators are supporting a positive bias. The RSI is located above its 50 neutral mark, while the MACD is found above zero [..]

Technical Analysis – AUDUSD downside risks linger despite latest climb

Posted on December 30, 2021 at 8:49 am GMT

AUDUSD buyers are in the process of trying to extend the ascent from the 13-month low of 0.6992 beyond the falling 50- and 100-day simple moving averages (SMAs). Nevertheless, the bearish SMAs are demonstrating that the directional trend remains skewed to the downside. The Ichimoku lines are indicating that positive forces are making efforts to take control, while the short-term oscillators are currently reflecting conflicting signals in directional momentum. The MACD, over its red trigger line, is strengthening into the [..]

Technical Analysis – AUDJPY’s growing bullish bias is under the microscope

Posted on December 29, 2021 at 2:11 pm GMT

AUDJPY’s fresh minor pullback from 83.42 has found some footing off the blue Kijun-sen line at 82.78 keeping the latest outlook bullish as the pair continues to plot higher highs and lows. The rising 50- and 100-period simple moving averages (SMAs) are backing the one-month uptrend from 78.76. Furthermore, the 100-period SMA at 81.63 looks set to complete a bullish crossover of the flattened 200-period SMA at 81.86, which would add credibility to the rally. The Ichimoku lines are indicating [..]

Technical Analysis – EURGBP directed lower by 200-MA

Posted on December 29, 2021 at 12:09 pm GMT

EURGBP sellers have remained in control for more than a week, exacerbating a downward move beneath the Ichimoku cloud after the 200-day simple moving average (SMA) curbed recent attempts of the pair to advance. The relatively flatlined SMAs are endorsing a sideways trajectory and are making it difficult for the price to boost upside momentum. The Ichimoku lines and the cloud are not hinting of a clear price direction, while the short-term oscillators are exhibiting mixed messages regarding the bearish [..]

Technical Analysis – Gold’s losses risk breach of 1,800 level again

Posted on December 29, 2021 at 11:35 am GMT

Gold prices are approaching again the 40-period SMA which is near the 1,800 psychological mark. The RSI indicator is ticking south slightly below the neutral threshold of 50, while the MACD is losing momentum below its trigger line and near the zero level. The Ichimoku lines are also pointing down, while the short-term simple moving averages (SMAs) are following the current price action. The selling interest would likely take the market towards the 1,800 support level before touching the 1,784 [..]

Technical Analysis – NZDUSD erases upside rally from 0.6700; bearish bias

Posted on December 29, 2021 at 8:59 am GMT

NZDUSD is retreating in the very short-term, after the pullback from the 0.6840 resistance and is heading towards the 20-day simple moving average (SMA). A drop below this line could endorse the bearish bias, sending the market towards the 13-month low of 0.6700. Beneath this line, the 0.6585 support and the 0.6510 level, taken from the low in November 2020 could be the next target. The technical indicators are still moving in the negative territories. The RSI is edging around [..]

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