Technical Analysis / Page 325

Technical Analysis – EURJPY erases rally, could weaken further in short-term

Posted on November 2, 2021 at 7:43 am GMT

EURJPY is testing the 20-period simple moving average (SMA) again, after it penetrated the neckline of the double bottom pattern to the upside. The price is losing some momentum, holding beneath the 133.50 resistance level and inside the Bollinger bands. Regarding the technical indicators, the RSI is falling in the positive region, while the MACD is diving beneath its trigger line, suggesting a downside move on price action before heading up again. However, the 20-day SMA crossed the 40- and the [..]

Technical Analysis – EURCHF tumbles to 17½-month low

Posted on November 1, 2021 at 3:45 pm GMT

EURCHF’s plunge today has stalled in the support area of 1.0545-1.0556, formed between the obstacles created in May 2020. Despite the strong bearish tone in the falling simple moving averages (SMAs), which are promoting the downtrend, buyers are trying to form a foothold to deny further deterioration in the pair. Nevertheless, the short-term oscillators are skewed to the downside. The faint uptick in the RSI, just beneath the 30 level, is signalling buyers are trying to make a stand, though [..]

Technical Analysis – USDJPY’s positive drive debatable as sellers resurface

Posted on November 1, 2021 at 1:06 pm GMT

USDJPY has recently regained its buoyancy with a bounce off the base of 113.00-113.25, but bullish forces are looking vulnerable around the upper Bollinger band at 114.36 and ahead of the near 4-year high of 114.69. The 50-period simple moving average (SMA) is exhibiting a slight preference to the upside, while the advancing longer-term SMAs are endorsing the positive trend in the pair. The short-term oscillators are reflecting conflicting messages in directional impetus. The falling RSI and stochastic lines are [..]

Technical Analysis – AUDUSD upside still active but falters around 3½-month high

Posted on November 1, 2021 at 9:11 am GMT

AUDUSD has retracted beneath its 50-period simple moving average (SMA) at 0.7505 and is testing the Ichimoku cloud’s upper band and the 0.7474-0.7488 support zone. Nonetheless, the positive structure is still holding in there and is being endorsed by the bullish SMAs. The Ichimoku lines are indicating a modest waning in positive drive in the pair, while the short-term oscillators are transmitting conflicting signals in directional momentum. The RSI is falling in the negative region, while the MACD is dropping [..]

Technical Analysis – EURUSD pauses near 200-weekly SMA after harsh decline

Posted on November 1, 2021 at 8:48 am GMT

EURUSD’s rally was harshly rejected just below the 1.1700 level and near the 50-day simple moving average (SMA) on Friday, with the price crossing all the way down to test the 14-month low of 1.1528. The short-term risk is looking neutral to bearish as the RSI is trying to regain strength after dipping below its 50 neutral mark and the MACD is set to cross back below its red signal line in the negative territory. A clear bearish cross between [..]

Technical Analysis – Gold hovers within SMAs in horizontal trajectory

Posted on November 1, 2021 at 8:00 am GMT

Gold is struggling to remain above the 1,800 handle and has been still hovering within a consolidation area of 1,723-1,834 since June 16. The simple moving averages (SMAs) are generally flat and converging, implying a more neutral price behavior. Technically, the RSI is flattening around the neutral threshold of 50, while the stochastic is heading south towards the oversold region. If the price closes above the 200-day SMA and the 1,800 level, nearby upside resistance could come from 1,814. By [..]

Technical Analysis – WTI oil futures avoid bearish breakout; negative risks still in play

Posted on October 29, 2021 at 1:04 pm GMT

WTI oil futures (December delivery) charted a new lower low at 80.62 in the four-hour chart on Thursday but the tough ascending trendline, which has been strictly supporting the market since the bullish trend reversal in August came to the rescue once again, helping the price to crawl up to an intra-day high of 83.27 on Friday. Negative risks, however, have not entirely evaporated yet as the RSI is stuck around its 50 neutral mark despite its latest upturn, the [..]

Technical Analysis – USDCHF tumbles in the short-term; crucial 0.9100 region in focus

Posted on October 29, 2021 at 12:03 pm GMT

USDCHF has been trending upwards since the beginning of June after the price managed to get strong support near the 0.8925 region. However, the short-term picture has started to deteriorate as the pair has been giving up ground since early October. While USDCHF seems ready to pivot near the key 0.9100 region, momentum indicators suggest an imminent bearish bias. The MACD histogram is below zero and its red signal line, and the RSI is flatlining near the 30-oversold area. Moreover, [..]

Technical Analysis – GBPJPY falters around 158 level but upside still intact

Posted on October 29, 2021 at 9:14 am GMT

GBPJPY is consolidating across the 156.00 mark that is the upper part of a support barrier moulded by the highs reached at the end of May until the later part of June. The simple moving averages (SMAs) are sponsoring the positive structure, while a further extension of the 50-day SMA above the 100-day SMA could boost advances in the pair. The Ichimoku lines are reflecting the minor pullback in the pair but are also showing that positive momentum may just [..]

Technical Analysis – USDCAD is on the sidelines but indicators suggest bullish action

Posted on October 29, 2021 at 7:36 am GMT

USDCAD has been moving sideways over the last few days, remaining above the 1.2285 support and below the simple moving averages (SMAs). Technically, the MACD oscillator is jumping above its trigger line, holding well below the zero level, while the RSI is pointing marginally up in the negative territory. If the price extends the move up, immediate resistance could come from the 200-day SMA, which overlaps with the 1.2490 barrier. Climbing higher, the 40-day SMA at 1.2555 may halt the [..]

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