Technical Analysis / Page 306

Technical Analysis – USDCHF crosses above its 50-SMA; long-term bullish outlook

Posted on December 16, 2021 at 8:55 am GMT

USDCHF has powered back from its late November low, crossing above its 50-day simple moving average (SMA) amid strengthening positive momentum. Moreover, the successive higher lows reinforce the long-term bullish outlook for the pair. Short-term momentum indicators are supporting a positive bias, as the RSI is hovering slightly above its 50 neutral mark, while the MACD is found marginally above zero and its red signal line. Should the bulls maintain control, initial resistance might be found at the 0.9294 level. [..]

Technical Analysis – Gold slips further below the consolidation area of 1,770-1,791

Posted on December 15, 2021 at 11:57 am GMT

Gold prices are slipping beneath the consolidation area of 1,770-1,791 that has been holding since the beginning of the month. The RSI indicator is moving lower in the bearish zone, while the MACD oscillator is strengthening its negative momentum below its trigger and zero lines. However, the 20- and 40-period simple moving averages (SMAs) are flattening, mirroring the latest action in price. The next target to the downside is the 1,761 low, while at this stage the market would likely see a resumption of the downtrend [..]

Technical Analysis – USDJPY maintains cautious tone ahead of FOMC

Posted on December 15, 2021 at 9:16 am GMT

USDJPY has been trapped between the red Tenkan-sen line and the 20-day simple moving average (SMA) the past couple of sessions, consolidating the bounce off the two-month low of 112.50 within the 113.24 – 113.78 territory. Traders are probably in a wait-and-see mode ahead of the FOMC policy meeting, with the RSI and the MACD currently reflecting a neutral bias for the market as the former is struggling to enter the bullish zone above 50, while the latter remains muted around its [..]

Technical Analysis – AUDCHF plummets to 1-year low as bearish forces consolidate

Posted on December 15, 2021 at 9:00 am GMT

AUDCHF has been trending downwards since April, failing to find significant support. Although the pair adopted a more sideways pattern in the last five months, the short-term picture has started to deteriorate again, and the price is fluctuating close to historical lows. This bearish short-term picture is also endorsed by the momentum indicators. The stochastic oscillator is sliding sharply, while the RSI is pointing upwards but remains slightly below the 50-neutral mark. Moreover, the price is currently trading significantly beneath the Ichimoku cloud. [..]

Technical Analysis – AUDUSD meets support at 50-SMA; bearish forces linger

Posted on December 15, 2021 at 8:44 am GMT

AUDUSD has powered back from its early December low, crossing above the 50-period simple moving average (SMA) and breaking its previous series of successive lower highs. However, the cautiously bearish outlook for the pair is maintained as the price is trading well below its 200-period SMA. Short-term momentum indicators are reflecting a negative bias for the pair, as the RSI is located below its 50 neutral mark, while the MACD is found below zero and its red signal line. Should the pair cross [..]

Technical Analysis – NZDUSD pares some losses after 13-month low

Posted on December 15, 2021 at 7:57 am GMT

NZDUSD is recouping some losses that were posted earlier in the day after it plummeted to a fresh 13-month trough of 0.6725. The bearish view started following the pullback from the 0.7215 resistance level in the short-term, and the simple moving averages (SMAs) are heading south as well. According to technical indicators, the RSI is pointing marginally up around the oversold zone, while the MACD is flattening above its trigger line in the negative region. The red Tenkan-sen line is moving below the blue Kijun-sen [..]

Technical Analysis – EURGBP buyers emerge at 0.85 mark, neutral bias dominates

Posted on December 15, 2021 at 7:45 am GMT

EURGBP has found footing again around the 0.8500 handle after the pullback from the two-month high of 0.8598. The two-week rally from 0.8384 was denied passage past the 0.8600 hurdle, and the pair has now reinstated its neutral tone. The slight upward incline in the simple moving averages (SMAs) is showing a tendency for the pair to maintain a positive bearing despite the recent downside correction. The Ichimoku lines are not demonstrating any commanding directional forces, while the short-term oscillators [..]

Technical Analysis – WTI futures’ advances struggle around 73 handle

Posted on December 14, 2021 at 11:03 am GMT

WTI oil futures are consolidating between the squeezed Bollinger bands at 70.35 and 72.69 after failing to surpass the 73.00 hurdle in the previous trading sessions. The longer-term simple moving averages (SMAs) are defending the descent from the 7-year high of 85.39, while the 50-period SMA is suggesting that the recent rally from the 14-week low of 62.42 may still have some power. The short-term oscillators are indicating that momentum is weak and are transmitting uncorrelated signals in directional momentum. [..]

Technical Analysis – USDTRY heads to record highs; broad bullish dynamics fizzle out

Posted on December 14, 2021 at 10:47 am GMT

USDTRY has been rising exponentially for almost a month amid the inflation storm in Turkey, with the pair recently topping its rally at a new record high of 14.60. Currently, there is little evidence to argue that the bullish trend in the four-hour chart could collapse in the near term. The price is gaining fresh momentum after setting another strong foothold around the 50-period simple moving average (SMA), helping the RSI to bounce on its 50 neutral mark and the [..]

Technical Analysis – USDCAD falters ahead of 2½-month resistance barrier

Posted on December 14, 2021 at 9:00 am GMT

USDCAD’s dictating upside momentum has lost steam around the upper Bollinger band at 1.2827, just shy of reaching the 1.2835-1.2855 resistance boundary, stalling the minor rally from the 1.2606 mark. That said, the simple moving averages (SMAs) are still endorsing bullish sentiment. The short-term oscillators are reflecting the slight waning in bullish momentum. The MACD, some distance above zero, is decelerating above its red trigger line, while the RSI is fading from the 70 level. The stochastic lines are in [..]

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