Technical Analysis / Page 312

Technical Analysis – GBPJPY tests 20-period SMA; tries to turn bullish

Posted on December 1, 2021 at 2:55 pm GMT

GBPJPY rebounded off the 149.65 support level and tested the 20-period simple moving average (SMA) around the 151.00 psychological mark. The MACD oscillator is advancing above its trigger line in the negative region, while the RSI is flattening in the bearish territory, indicating a somewhat weak momentum in the price. If the pair successfully surpasses the 20-period SMA, immediate resistance could come at 151.90 and then at 152.34, which overlaps with the 40-period SMA. More gains could take the bulls until the 156.60 barrier before challenging [..]

Technical Analysis – Gold battles with 200-period SMA below 1,800

Posted on December 1, 2021 at 11:30 am GMT

Gold prices could not find enough buyers to overcome the 200-period simple moving average (SMA), with the spotlight remaining on the $1,800 mark. Encouragingly however, the RSI and the MACD continue to hold above their recent lows, while the latter has also managed to crawl back above its trigger line, providing some optimism that the bulls may not give up the battle yet. The 1,790 level, where the 20-period SMA has converged, could challenge any bullish attempts towards the 1,809-1,815 area. Hence, any breakout at [..]

Technical Analysis – USDJPY plunges to 113 mark but bullish structure intact

Posted on December 1, 2021 at 9:57 am GMT

USDJPY has formed a foothold around the 113.00 handle after a selloff in the pair from a near five-year high, which was linked to concerns around the new omicron variant. The aggressive pullback in the pair has failed to cause any significant damage towards the broader uptrend. Furthermore, the rising simple moving averages (SMAs) are also suggesting that the ascent in the pair remains sturdy. The picture painted by the short-term oscillators is somewhat unclear, as the indicators are conveying [..]

Technical Analysis – EURCHF continues to plummet as bearish forces consolidate

Posted on December 1, 2021 at 8:47 am GMT

EURCHF has been trending downwards since March, falling to find significant support throughout this whole period. This downside move is likely to resume as both its 50- and 200-day simple moving averages (SMAs) are currently dipping downwards, indicating a negative momentum. The short-term oscillators further reinforce the pair’s negative near-term bias. The RSI is flatlining in the oversold area, while the MACD histogram has crossed below its red signal line in the negative territory. Should the selling pressure intensify further, [..]

Technical Analysis – AUDUSD marks yet more lower lows as bearish forces linger

Posted on December 1, 2021 at 8:44 am GMT

AUDUSD is continuing its overall descending trend, recording successive lower lows and lower highs in the four-hour chart. Moreover, the 50-period simple moving average (SMA) has crossed below the 200-period SMA, increasing fears of a sustained bearish outlook. Short-term momentum indicators are mostly supporting a negative bias as the RSI is found marginally below its 50 neutral mark and the MACD is located below zero. Encouragingly though, the MACD is positioned above its red signal line, indicating that the negative [..]

Technical Analysis – USDCAD still holds above short-term uptrend line

Posted on December 1, 2021 at 8:34 am GMT

USDCAD pivoted northwards following the rebound off 1.2727, with the price recouping the pullback that emerged earlier in the day. The positive slope in the RSI is endorsing the current bullish momentum in the price, though the stochastic oscillator has yet to show any improvement, extending its decline towards its 20 oversold level. Currently, the price is hovering between its 20- and 40-period SMAs and any advances higher could take the pair towards the two-month high of 1.2836. Beyond that, the 1.2847 resistance may immediately attract attention ahead of the 1.2895 barrier, registered on [..]

Technical Analysis – NZDUSD ripe for a bullish start to December

Posted on December 1, 2021 at 7:57 am GMT

NZDUSD is setting the table for a bullish start to December after refusing to close below its August trough on Tuesday despite its flash drop to a new yearly low of 0.6771. Oversold conditions seem to have been met as both the RSI and Stochastics have bottomed near their 30 and 20 levels respectively and are currently clearly changing course to the upside. Besides, with the price being attached to the lower Bollinger band for the past three weeks, an [..]

Technical Analysis – WTI futures resume downward trajectory

Posted on November 30, 2021 at 4:17 pm GMT

WTI oil futures’ negative pressures resurfaced today, guiding the price of the black liquid down towards a three-month low of 66.51 on growing worries related to the new omicron variant of the coronavirus. The diving simple moving averages (SMAs) are endorsing the bearish bearing in the pair. The Ichimoku lines are currently indicating a pause in the negative drive, while the short-term oscillators are conveying unconvincing mixed messages in directional impetus. The MACD is far below zero and is falling [..]

Technical Analysis – GBPAUD powers back amid growing positive momentum

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

GBPAUD powered back higher after its early November low amid strengthening positive momentum. The price is currently trading above its 50- and 200-day simple moving average (SMA), endorsing its short-term outlook. Short-term momentum indicators are supporting a positive bias for the GBPAUD, as the RSI is found above its 50 neutral mark, while the MACD is found above zero and its red signal line. Should the price cross above the 1.8772 level, the bulls may then target the 1.8960 resistance. Surpassing [..]

Technical Analysis – US 500 extends decline from all-time high as bullish forces wane

Posted on November 30, 2021 at 9:56 am GMT

The US 500 stock index (cash) keeps trending upwards in the long term picture, creating a profound structure of higher highs and higher lows. However, in the four-hour chart, the index has been giving up ground since its rally halted at the new record high of 4,743. This recent pullback is likely to continue as the short-term oscillators indicate that the positive momentum is fading. The stochastic oscillator is negatively charged, while the RSI is flatlining well below the 50-neutral mark. Should the selling [..]

Legal disclaimer: The material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instruments. XM accepts no responsibility for any use that may be made of these comments and for any consequences resulting in it. No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. The research and analysis does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it.

It has not been prepared in accordance with legal requirements designed to promote the independence of research, and as such it is considered to be marketing communication. Although we are not specifically constrained from dealing ahead of the publication of our research, we do not seek to take advantage of it before we provide it to our clients. We aim to establish, maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. We operate a policy of independence, which requires our employees to act in our clients’ best interests and to disregard any conflicts of interest in providing our services.

CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losing all of your invested capital, so please make sure that you fully understand the risks involved.

Technical Analysis

XM Live Chat