Technical Analysis / Page 302

Technical Analysis – USDJPY’s one-month rally reinforces broader uptrend

Posted on December 29, 2021 at 8:49 am GMT

USDJPY is ready to confront the resistance section of 115.07-115.62 after the price bounced within the 112.40-112.72 support base and subsequently found footing off the Ichimoku cloud’s upper band. The simple moving averages (SMAs) are maintaining a northbound trajectory, backing the ascent. Currently, the Ichimoku lines are not indicating a definitive price direction, while the short-term oscillators are promoting advances in the pair. The MACD, north of the zero mark, is climbing above its red trigger line, while the RSI [..]

Technical Analysis – GBPJPY came back swinging amid an overall bullish outlook

Posted on December 29, 2021 at 8:45 am GMT

GBPJPY came back swinging from its mid-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. Short-term momentum indicators are reflecting a mixed picture. The RSI is located slightly below its 70 overbought region, while the MACD is found above zero but below its red signal line, which could indicate that the recent positive bias might be fading. Should the bulls [..]

Technical Analysis – USDCAD losses ground; long-term bullish outlook maintained

Posted on December 28, 2021 at 11:08 am GMT

USDCAD has retreated from its December high amid strengthening negative momentum, and is currently found near its lower Bollinger Band indicating that an immediate upward movement should not be ruled out. However, despite the negativity in the short-term, the price is trading way above its 200-period SMA, reinforcing the pair’s long-term bullish outlook. Short-term momentum indicators are reflecting a negative bias as the RSI is located below its 50 neutral mark, while the MACD is found below zero and its red [..]

Technical Analysis – WTI futures unlock new 1-month high above 76.00

Posted on December 28, 2021 at 10:46 am GMT

WTI futures are holding near the one-month high of 76.25, with the technical indicators suggesting an overbought market. The RSI is pointing upwards above the 70 level; however, the stochastic is posting a bearish crossover within the %K and %D lines. In the event the bulls are able to stay in control, the 79.15 resistance will come first into view. A violation at this point may see another challenging battle around the 80.66 barrier ahead of the 83.20 barrier. Should the bears drive the price below [..]

Technical Analysis – GBPUSD rallies from 1-year lows but downside risks remain

Posted on December 28, 2021 at 9:30 am GMT

GBPUSD is confronting the falling 50-day simple moving average (SMA) at 1.3429 after buyers powered up around the 1.3186 vicinity, opposing the six-month decline from the more than three-year high of 1.4248. The bearish SMAs are shielding the negative trend in the pair. That said, the Ichimoku lines are indicating some waning in negative pressures but have yet to confirm that buyers have the upper hand. Looking at the short-term oscillators, they are showing no clear signs that upside drive [..]

Technical Analysis – AUDUSD marks yet more higher highs as bullish forces linger

Posted on December 28, 2021 at 9:03 am GMT

AUDUSD has powered back from its mid-December low, crossing above the 50- and 200-period simple moving average (SMA) and recording yet another higher high. Moreover, the 50-period SMA is looking ready to cross above the 200-period SMA, which if it materializes, could revive hopes of a sustained bullish outlook. Short-term momentum indicators are reflecting a mixed picture. The RSI is located above its 50 neutral mark, while the MACD is found above zero but below its red signal line, which [..]

Technical Analysis – EURJPY approaches the flat 200-day SMA near 130.00

Posted on December 28, 2021 at 8:17 am GMT

EURJPY has been in an upside movement near 130.00 after the bounce off the 127.50 support level around the lower Bollinger band. The price overcame the 20- and 40-day simple moving averages (SMAs) and it’s possible to jump above the 200-day SMA in the next few sessions as well, confirming the bullish bias. Technically, the indicators are showing weak signals. The RSI is moving sideways in the positive region, while the MACD is flattening near its zero line and above [..]

Technical Analysis – Gold gains struggle above 1,800 mark

Posted on December 27, 2021 at 12:53 pm GMT

Gold’s recent positive traction off the mid-Bollinger band after a price bounce within the 1,750-1,763 support region is having trouble soaring past the 1,809-1,815 resistance belt. The converged simple moving averages (SMAs) are currently not endorsing any clear trend in the pair. That said, the short-term oscillators are skewed to the upside but are reflecting that bullish momentum remains somewhat frail. The MACD, in the negative region, is rising above its red trigger line and has neared the zero threshold, [..]

Technical Analysis – EURUSD’s 6-month decline oscillates around 1.13 mark

Posted on December 27, 2021 at 9:29 am GMT

EURUSD is slightly above the mid-Bollinger band and appears set to continue its one-month consolidation in the vicinity of the 1.1300 handle. That said, downside risks remain, something also being mirrored in the falling simple moving averages (SMAs), which are defending the bearish bearing. The short-term oscillators are indicating that negative momentum has softened. The MACD is rising above its red trigger line closing in on the zero mark, while the RSI is toying with the 50 neutral threshold, showing [..]

Technical Analysis – GBPUSD breaks above its 50- and 200-SMA; bullish outlook

Posted on December 27, 2021 at 8:34 am GMT

GBPUSD has crossed above its 50- and 200-period simple moving average (SMA) amid strengthening positive momentum. Moreover, the 50-period SMA is looking ready to cross the 200-period SMA, which if it materializes, it could revive hopes of a sustained bullish outlook. Short-term momentum indicators are reflecting a mixed picture. The RSI is located above its 50 neutral mark, while the MACD is found above zero but below its red signal line, which could indicate that the positive bias might be [..]

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