Technical Analysis / Page 305

Technical Analysis – NZDUSD tiptoes across 76.4% Fibonacci but downside risks remain

Posted on December 17, 2021 at 10:08 am GMT

NZDUSD has established a foothold consolidating around the 0.6734 level, which is the 76.4% Fibonacci retracement of the up leg from 0.6510 until 0.7464, after a five-week decline from the 0.7217 high. The simple moving averages (SMAs) are starting to fall, hinting that the neutral-to-bearish tone is securing an advantage. That said, the short-term oscillators are transmitting mixed signals in directional impetus. The MACD, some distance beneath the zero mark, is indicating that negative momentum is fading as it continues [..]

Technical Analysis – USDCAD halts pullback, but bearish jitters still in play

Posted on December 17, 2021 at 9:18 am GMT

USDCAD attempted to touch its nine-month high of 1.2947 from August earlier this week, but its efforts proved fruitless, with the price drifting lower to find support around the 1.2770 level and the red Tenkan-sen line. Signals from momentum indicators are currently discouraging. The MACD is losing steam along its red signal line in the positive territory, the Stochastics are sloping southwards, while the RSI is still below its weekly highs despite pushing for some recovery today. Of note, the [..]

Technical Analysis – US30 index powers back amid an overall bullish outlook

Posted on December 17, 2021 at 8:53 am GMT

The US 30 cash index came back swinging from its early December lows amid strengthening positive momentum. Moreover, the 50-period simple moving average (SMA) has crossed above the 200-period-SMA, increasing hopes of a sustained bullish outlook. Short-term momentum indicators are reflecting a positive bias for the index, as the RSI is located above its 50 neutral mark, while the MACD is found above zero and its red signal line. Should the bulls remain in charge, the first target might be [..]

Technical Analysis – UK 100 index battles with 200-SMA as bullish bias arises

Posted on December 17, 2021 at 8:43 am GMT

The UK 100 stock index (cash) has been giving up ground in the short-term after the price peaked at 7,380 in early December. However, in the last few sessions, the index has bounced back somewhat and has been trying to overcome its 200-day simple moving average (SMA), currently at 7,250. The near-term picture suggests that bullish forces have gained the upper hand. This is further confirmed by the momentum indicators, with the MACD crossing above its red signal line but remaining in the [..]

Technical Analysis – WTI futures struggles around 23.6% Fibonacci; 200-day SMA holds

Posted on December 17, 2021 at 7:55 am GMT

WTI futures are facing some difficulty to surpass the 23.6% Fibonacci retracement level of the up leg from 34.02 to 85.50 at 73.26 and are moving sideways around the 20-day simple moving averages (SMAs) in the short-term. Technically, the MACD oscillator is rising above its trigger line in the negative region, while the RSI is flattening around the 50 level. If the pair jumps above the 23.6% Fibonacci of 73.26 ahead of the lower boundary of the Ichimoku cloud [..]

Technical Analysis – EURCHF raises bullish odds above 20-SMA

Posted on December 16, 2021 at 3:01 pm GMT

EURCHF is determined to improve its fortunes above the 20-day simple moving average (SMA) for the first time since mid-September, with the price crawling as high as 1.0465 in mid-European trading hours on Thursday following the plunge to a six-year low of 1.0360 at the start of the month. Although the 1.0480 bar is still laying overhead, the positive momentum in the RSI and its prolonged presence around the 30 oversold level suggests the bulls could keep the upper hand in the [..]

Technical Analysis – AUDUSD extends bounce formed within key support

Posted on December 16, 2021 at 12:01 pm GMT

AUDUSD is climbing higher above the mid-Bollinger band at 0.7145 after rebounding at a 13-month low 0.6992, reached on December 3. That said, the downward gliding simple moving averages (SMAs) are defending the matured decline from the more than three-year high of 0.8006. The short-term oscillators are revealing waning in negative momentum as buying interest is bolstered. The MACD, in the bearish region, is distancing itself above its red trigger line, while the RSI is nudging above the 50 threshold. [..]

Technical Analysis – EURJPY overcomes 129 mark as bullish forces grow

Posted on December 16, 2021 at 9:37 am GMT

EURJPY is extending beyond the 129.00 handle after a surge of bullish price action from the 128.00 level propelled the pair back above the 50- and 100-period simple moving averages (SMAs). The slight upturn in the 50-period SMA, is suggesting that the pair’s bullish trajectory is beginning to strengthen, while the softened decline in the 100-period SMA is promoting a more neutral price phase. The short-term oscillators are reflecting an increase in positive momentum. The MACD, in the bullish region, [..]

Technical Analysis – US 100 index gains traction, eyeing record highs

Posted on December 16, 2021 at 9:10 am GMT

The US 100 cash index has been trending upwards in the long term, achieving a new record-high of 16,767 in late November. Since then, the price has slightly retreated, but in the near-term, some positive momentum has emerged, reviving bulls’ hopes for further upside potential. This positive immediate-term bias is further reinforced by the momentum indicators. The stochastic oscillator has posted a bullish crossover, while the MACD histogram has crossed above its red signal line in the positive region. Moreover, the price [..]

Technical Analysis – GBPJPY bulls get in charge; next resistance at 152.49

Posted on December 16, 2021 at 9:09 am GMT

GBPJPY closed decisively above the descending trendline and the 150.50 bar on Wednesday after an intense battle around that bar during the past two weeks, raising hopes for more progress ahead of the Bank of England’s policy announcement at 12:00 GMT today. The spotlight is currently on the 23.6% Fibonacci retracement level of the latest downfall at 151.14 and the 20-day simple moving average (SMA) slightly above. Another prosperous session here could further bolster buying appetite, likely sending the price straight [..]

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