Technical Analysis / Page 307

Technical Analysis – GBPCAD aims for recovery after medium-term decline halts

Posted on December 14, 2021 at 8:51 am GMT

GBPCAD has been plunging since early September, generating a clear structure of lower highs and lower lows. However, the near-term picture has improved as the pair has been charging higher after its dip ceased at the 20-month low of 1.6639. This upside correction is likely to continue, with momentum indicators further reinforcing the immediate-term bullish bias. The stochastic oscillator is sloping upwards, while the RSI is flatlining marginally above its 50-neutral mark. Should the buying pressure intensify further, the most recent high [..]

Technical Analysis – GBPAUD crosses above its 50-SMA; short-term bullish outlook

Posted on December 14, 2021 at 8:29 am GMT

GBPAUD witnessed a minor rebound from its early December lows amid strengthening positive momentum. The price has also crossed above its 50- and 200-day simple moving averages (SMAs), reinforcing the bullish short-term sentiment for the pair. Short-term momentum indicators are reflecting a mixed picture for the pair, as the RSI is hovering above its 50 neutral mark, while the MACD is found above zero but below its red signal line, which could indicate that the positive momentum might be fading. [..]

Technical Analysis – GBPUSD poised for a bullish reversal as sideways move lengthens

Posted on December 14, 2021 at 8:13 am GMT

GBPUSD keeps trading indecisively at the bottom of the six-month-old bearish channel and close to its new 2021 low of 1.3160 for almost a week now. The risk for an upside correction is elevated given the RSI’s prolonged presence around its 30 oversold level and the positive trajectory in the Stochastics, while the gradual recovery in the MACD is another encouraging signal that buying interest is growing. The fact that the 38.2% Fibonacci retracement of the long-term uptrend from 1.1409 to 1.4248 is adding [..]

Technical Analysis – EURJPY bears take a breather around 20-day SMA

Posted on December 14, 2021 at 7:41 am GMT

EURJPY opened the week on a neutral note, keeping its footing around the 127.37 level and near the 20-day simple moving average (SMA). Trend signals remain slightly daunting as the price continues to trade below its simple moving averages (SMAs) and within the Bollinger bands. As regards the market momentum, some optimism seems to be building over an upside correction as the RSI has paused its downtrend and is pointing slightly up, while the MACD is heading above its trigger [..]

Technical Analysis – US 500 index retreats ahead of all-time high, upside intact

Posted on December 13, 2021 at 4:15 pm GMT

The US 500 stock index (Cash) has receded from the upper Bollinger band around 4,730 prior to retesting the all-time high of 4,744. The simple moving averages (SMAs) have converged with the 100-period SMA flatlining, promoting a more neutral bearing, while the rising 50-period SMA suggests the recent climb from the 4,494 region could endure. The short-term oscillators are reflecting the increase in bearish forces. The MACD, far above zero, has dipped below its red trigger line, hinting that positive [..]

Technical Analysis – EURUSD fragile but bullish hopes still exist

Posted on December 13, 2021 at 12:45 pm GMT

EURUSD could not sustain last week’s bullish breakout above the restrictive 20-day simple moving average (SMA), pulling back into the 1.1200 area on Monday. Downside risks are now on the table again as the RSI is drifting lower in the bearish zone, and the Stochastics are pointing downwards. Yet, the increasing positive momentum in the MACD signals that the bulls may not abandon the battle unless the price closes clearly below the 20-day SMA and the 1.1260 level. Should the [..]

Technical Analysis – USDJPY rangebound but broader bullish structure intact

Posted on December 13, 2021 at 9:51 am GMT

USDJPY is trading around the mid-Bollinger band at 113.53, adhering to a two-week price consolidation that evolved after the plunge from the more than four-and-a-half-year high of 115.51. The horizontal demeanour of the simple moving averages (SMAs) is endorsing a trendless market. Furthermore, the short-term oscillators are reflecting the recent minor increase in positive momentum but are hinting that directional impetus is presently feeble. The flattening of the MACD and its red trigger line, which are barely above the zero [..]

Technical Analysis – GBPUSD continues its downtrend as bearish forces linger

Posted on December 13, 2021 at 8:50 am GMT

GBPUSD is continuing its descending trend, recording successive lower highs and lower lows in the four-hour chart. Moreover, the price is trading below the 50- and 200-period simple moving averages (SMAs), reinforcing the bearish outlook for the pair. Short-term momentum indicators are reflecting a mixed picture, as the RSI is located below its 50 neutral mark, while the MACD is found above its red signal line and is looking ready to cross above zero, which would be an encouraging sign [..]

Technical Analysis – EURCAD bounces back after sharp drop; bias positive

Posted on December 13, 2021 at 8:50 am GMT

EURCAD has been sloping downwards after its recent rally was rejected by the two-month high of 1.4552 in early December. However, the pair has gained back some lost ground since the bulls resurfaced at the beginning of last week. This imminent rebound is likely to continue as stochastic oscillators are endorsing the near-term positive picture for the price. The RSI has flatlined marginally above the 50-neutral mark, while the MACD histogram has crossed both above zero and its red signal [..]

Technical Analysis – Gold prices muted below 1,800 again; indicators suggest bullish bias

Posted on December 13, 2021 at 7:38 am GMT

Gold prices are moving sideways within the 1,760 support level and the flat 200-day simple moving averages (SMAs) in the short-term. The commodity is still finding strong resistance at the 1,800 handle and the technical indicators are suggesting a neutral-to-positive bias at the moment. The RSI indicator is pointing upwards in the negative region, while the MACD is trying to overcome its trigger line. In the positive scenario where the precious metal snaps the 200-day SMA at 1,793 and closes above [..]

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