Technical Analysis / Page 313

Technical Analysis – GBPUSD sellers take a breather but bearish bias rules

Posted on November 30, 2021 at 9:41 am GMT

GBPUSD is consolidating around the 1.3300 mark, within the 1.3277-1.3362 support zone that has managed to mute negative forces for now. The falling simple moving averages (SMAs) are presently backing the bearish picture in the pair. The short-term oscillators are suggesting a moderate waning in negative momentum. The MACD, some distance in the negative zone, is holding beneath its red trigger line. The RSI, in bearish territory, is improving from the 30 level, while the stochastic oscillator is promoting advances [..]

Technical Analysis – EURJPY holds around a make-or-break point

Posted on November 30, 2021 at 8:34 am GMT

EURJPY returned immediately above the key 127.92 base after sliding marginally below it on Monday to chart an 8-month low of 147.48. The market structure in the medium-term picture remains neutral despite yesterday’s flash drop, though the negative intersection between the simple moving averages (SMAs) is not a promising sign for the market trend. As regards the next price action, the momentum indicators are currently foreseeing persisting bearish pressures as the MACD keeps decelerating below its red signal line, the RSI continues [..]

Technical Analysis – JP 225 index plummets in the short term; bias bearish

Posted on November 29, 2021 at 9:41 am GMT

Japan’s 225 stock index (cash) plunged in the previous session, erasing most of its recent rebound. The index crossed below both its 50- and 200-day simple moving averages (SMAs), which altered its short-term picture to negative. The descending move is likely to continue as the immediate bias seems bearish as well. The momentum indicators further reinforce that sellers have gained the upper hand as the MACD histogram is found both beneath zero and its red signal line, while the RSI is hovering [..]

Technical Analysis – EURUSD’s positive traction disappoints; negative bias holds

Posted on November 29, 2021 at 9:26 am GMT

EURUSD’s negative bearing prevails despite the bounce off the near 17-month low of 1.1185. The falling simple moving averages (SMAs) are endorsing the bearish outlook in the pair. The short-term oscillators are transmitting mixed signals in directional momentum. The MACD is far beneath the zero mark and is holding below its red trigger line. The RSI is dipping in bearish territory signalling that positive impetus is feeble, whereas the rising stochastic lines continue to sponsor gains in the pair. If [..]

Technical Analysis – EURGBP meets resistance at 50-SMA as bearish forces linger

Posted on November 29, 2021 at 9:23 am GMT

EURGBP meets resistance at its 50-day simple moving average (SMA) amid ongoing negative forces. Moreover, the price is currently trading well below its 200-day (SMA), reflecting a bearish outlook for the pair. Short-term momentum indicators are supporting a negative bias, as the RSI is found slightly below its 50 neutral mark. However, the MACD is located below zero but above its red signal line, indicating that the negative momentum might be fading. Should the bears remain in charge, initial support [..]

Technical Analysis – USDJPY is back above 113.00 but below ascending line

Posted on November 29, 2021 at 8:19 am GMT

USDJPY is gaining some momentum after the drop below the 113.00 psychological level earlier today and is trying to test again the ascending trend line, that had been holding since the beginning of October. The stochastic oscillator is turning higher from the oversold zone, while the RSI is sloping northwards near its 30 oversold level. In trend indicators, the 20- and 40-period simple moving averages (SMAs) are ready to post a bearish crossover, confirming the drop from the almost four-year high of 115.50. In case the price [..]

Technical Analysis – Gold muted between key boundaries; risk skewed to the downside

Posted on November 29, 2021 at 7:55 am GMT

Gold is stubbornly fighting the nearby 1,796 resistance for the fifth consecutive trading day, deriving strong support from the 50% Fibonacci of the latest upleg and the ascending trendline, which has been navigating the market since the drop to the five-month low of 1,680. The technical picture, however, suggests a neutral-to-bearish bias at the moment as the MACD remains negatively charged below its red signal line, while the RSI is currently pushing efforts for an upside reversal, but it is [..]

Technical Analysis – GBPUSD forms foothold at 11-month low, bearish bias stands

Posted on November 26, 2021 at 9:54 am GMT

GBPUSD buyers have re-emerged around the 1.3300 handle and lower Bollinger band, trying to make a comeback after a one-week drop in the pair, which produced an 11-month low. The bearish simple moving averages (SMAs) are reinforcing the one-month descent from the 1.3800 vicinity. Currently, the short-term oscillators are suggesting that negative momentum is fading, due to a surge in positive powers. The MACD, some ways below zero, has nudged over its red trigger line, while the RSI is improving [..]

Technical Analysis – NZDUSD touches 3-month low amid worsening negative momentum

Posted on November 26, 2021 at 9:24 am GMT

NZDUSD is continuing its descending trend reaching a 3-month low amid strengthening negative momentum. 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 reflecting a negative bias, as the MACD is found below zero and its red signal line. However, the RSI is hovering below its 30 oversold region indicating that an immediate upside movement is not out of the equation. Should the bears remain [..]

Technical Analysis – Silver finds support at 50-SMA; bearish bias holds

Posted on November 26, 2021 at 9:17 am GMT

Silver has staged a notable rebound after its long-term downtrend halted at the 21.40 region in September. However, in the short term, the precious metal seems to be losing traction, with the bears battling to push the price beneath the 50-day simple moving average (SMA) in the last few sessions. The short-term oscillators further confirm that bearish forces have gained the upper hand. The MACD histogram has crossed below its red signal line in the positive area, while the RSI is flatlining below its 50-neutral mark. Should [..]

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