Technical Analysis / Page 322

Technical Analysis – NZDJPY falters near 4-year highs

Posted on November 9, 2021 at 11:45 am GMT

NZDJPY has been trending upwards since the beginning of 2021 but seems to be lacking the necessary momentum to challenge its 4-year highs. After peaking at 82.49, the pair has been moving without a clear direction, while the immediate bias seems neutral. The short-term oscillators provide mixed conclusions. On the one hand, both 50- and 200-day simple moving averages (SMAs) are ticking upwards and the price is trading above the Ichimoku cloud, suggesting a bullish bias. However, the MACD histogram is below [..]

Technical Analysis – EURCHF struggles to gain optimism amid an overall bearish outlook

Posted on November 9, 2021 at 10:48 am GMT

EURCHF is struggling to gain optimism as its 50-day simple moving average (SMA) has crossed below the 200-day SMA completing a ‘death cross’, increasing fears of a sustained bearish outlook. Moreover, the pair is currently trading well below its early March descending trendline, indicating that a short-term convergence towards that point should not be ruled out. The bearish outlook and the recent price depreciation are also supported by the short-term momentum indicators, as the RSI is currently below its 50 [..]

Technical Analysis – USDZAR tumbles in the short term but negative bias fades

Posted on November 9, 2021 at 10:07 am GMT

USDZAR has been giving up ground in the last week after its recent rally ceased at the 8-month high of 15.4850. Although the pair has surrendered around half of its latest gains and has crossed below its 50- and 200-period simple moving averages (SMAs), the negative bias seems to be weakening. In the immediate term, the momentum indicators suggest that the selling pressure is waning. The RSI is pointing upwards in the negative region, while the stochastic oscillator has posted [..]

Technical Analysis – GBPUSD’s upside impetus to be tested after bounce from 1.3411

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

GBPUSD’s latest bullish thrust near the nine-month trough of 1.3411 is heading for a nearby tough resistance zone shaped by the Ichimoku cloud’s floor at 1.3614 and the 1.3700 handle. The 200-day SMA is promoting a more neutral trend, while the bearish 50- and 100-day SMAs are endorsing the negative trajectory. Currently, the Ichimoku lines are not indicating a clear direction in the pair, while the short-term oscillators are signalling mixed signals in directional momentum. The MACD, in the negative [..]

Technical Analysis – NZDUSD bulls look to return; next target at 0.7215

Posted on November 9, 2021 at 9:15 am GMT

NZDUSD has been flowing above the 200-day simple moving averages (SMA) the past couple of sessions, avoiding a close below the 0.7000 round level, while the bounce on the broken descending trendline can also be taken as another encouraging sign that buyers are looking to control the market. In technical indicators, the 20-day SMA has pierced above the 50- and 200-day SMAs, raising some optimism that the pair could create more higher highs and higher lows. As regards the price momentum, [..]

Technical Analysis – US 500 index eyes uncharted heights as bullish bias sturdy

Posted on November 8, 2021 at 3:21 pm GMT

The US 500 stock index’s rally seems to gallop on unabated with imminent tapering on the horizon and a new infrastructure bill getting ready to be signed. The simple moving averages (SMAs) are sponsoring the robust uptrend in the index. The short-term oscillators are reflecting a pause in upside impetus prior to the fresh all-time high of 4,718. The MACD, deep in the positive region, is hovering beneath its flattening red trigger line, while the RSI is struggling to push [..]

Technical Analysis – NZDCAD surpasses its 50- and 200-day SMA; optimism arises

Posted on November 8, 2021 at 10:44 am GMT

NZDCAD regained positive momentum as the pair surpassed its 50- and 200-day simple moving average (SMA) in the past couple of sessions. Moreover, the 50-day SMA has just crossed above the 200-day SMA, reviving hopes of a sustained bullish move, should this crossover be maintained over the next trading sessions. The cautiously optimistic outlook and the recent price appreciation are also supported by the short-term momentum indicators as the RSI is increasing above its 50 neutral mark, while the MACD [..]

Technical Analysis – EURUSD buyers’ efforts may be in vain, bias negative

Posted on November 8, 2021 at 10:02 am GMT

EURUSD buyers have re-emerged again around the previous low of October 12 at 1.1523 and are trying to recoup lost ground. Despite these positive efforts, the pair is maintaining a strong bearish demeanour, something also being reflected in the falling simple moving averages (SMAs). The Ichimoku lines are demonstrating the price’s recent unclear direction but are indicating that positive impetus is somewhat lacking. The short-term oscillators are conveying the recent pick up in positive momentum, but this remains shaky. The [..]

Technical Analysis – EURGBP capped by its 200-SMA; bullish bias arises

Posted on November 8, 2021 at 9:45 am GMT

EURGBP has managed to partially rebound after its long-term downtrend halted at the 20-month low of 0.8402. Although the pair has been gaining ground in the short term, it is currently being held down by its 200-day simple moving average (SMA). The pair’s positive short-term trend is likely to strengthen as the immediate bias looks bullish as well, with the momentum indicators further reinforcing this view. The MACD histogram is above both zero and its red signal line, while the [..]

Technical Analysis – Gold eyes crucial breakpoint after fast rally

Posted on November 8, 2021 at 8:46 am GMT

Gold ticked to a fresh 2-month high of 1,821 on Monday following the speedy recovery during the past two trading days, which boosted the price by a whopping 2.7% but it was still not enough to reach the crucial resistance of 1.833. Note this is where the 38.2% Fibonacci retracement of the 2,079 – 1,676 downfall is also positioned. The momentum indicators keep feeding some optimism that the latest rally could gain extra legs in the coming sessions. Despite testing [..]

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