Technical Analysis / Page 327

Technical Analysis – GBPUSD pulls back from 200-day SMA; maintains bearish pattern

Posted on October 26, 2021 at 6:39 am GMT

GBPUSD found a strong resistance at the 200-day simple moving average (SMA) currently at 1.3830, where the 50.0% Fibonacci retracement level of the down leg from 1.4248 to 1.3410 also happens to be. The price jumped slightly above the almost five-month-old descending channel but is retreating again in the very short-term. Technically, the RSI indicator is moving sideways in the positive region, suggesting a weakening positive bias. The stochastic oscillator is also sending discouraging signals as it is diving towards the 20 level, confirming the recent downward [..]

Technical Analysis – Microsoft stock near all-time high prior to earnings publication

Posted on October 25, 2021 at 3:40 pm GMT

Microsoft stock price is withdrawing slightly from its freshly reached all-time high of 310.84, but the outlook appears to remain strongly bullish. Reinforcing this view are the advancing simple moving averages (SMAs), which seem to be shielding the positive structure. The short-term oscillators are indicating that positive momentum is starting to wane. The MACD, far above zero and its red trigger line, is starting to ease, while the RSI is heading lower in bullish territory after deflecting off the 70 [..]

Technical Analysis – Google stock eases near 20-day SMA ahead of earnings release

Posted on October 25, 2021 at 2:31 pm GMT

Google stock keeps heading south ahead of its earnings release tomorrow, currently struggling to crawl back above its 20-day simple moving average (SMA) at 2,775 The RSI is also in bearish territory below 50, clearly pointing down, as the MACD is losing ground in the positive region, both suggesting that the next move in the price could be to the downside than to the upside. Failure to climb above the 20-day SMA could see losses extending towards the 2,618 support level. Lower, the [..]

Technical Analysis – Gold fails to leave 1,800 level in the dust; upside shaky

Posted on October 25, 2021 at 8:49 am GMT

Gold is struggling to convincingly conquer the 1,800 handle and thus some doubt has been thrown into gold’s positive picture as sellers pushed back heavily in Friday’s trading session. The simple moving averages (SMAs) are overall on a horizontal trajectory and are converging, endorsing a more neutral price demeanour. The Ichimoku lines are showing that bullish pressures have not fully disappeared, while the short-term oscillators are reflecting an increase in positive momentum. The MACD is making additional progress above its [..]

Technical Analysis – EURUSD flirts with 1.1665 again bound by short-term SMAs

Posted on October 25, 2021 at 6:24 am GMT

EURUSD has hardly gained ground above the 15-month low of 1.1523, although the recent weak bullish effort could see further extension above the 1.1665 strong resistance level. The RSI indicator is trying to improve above the neutral threshold of 50 and the MACD oscillator is moving above its trigger and zero lines. If the favorable scenario comes to fruition, the 1.1665 barrier may be the first to attract interest. This is also close to the 40-day simple moving average (SMA), which is at [..]

Technical Analysis – US 30 index breaches August 16 all-time high

Posted on October 22, 2021 at 12:58 pm GMT

The US 30 stock index (Cash) has barely conquered the previous all-time-high reached on August 16 at 35,632, though the picture remains upbeat. The climbing 50- and 100-period simple moving averages (SMAs), and the recent bullish crossover of the 200-period SMA by the 100-period one is endorsing the more than one-week uptrend that started gaining momentum off the 34,111 level. The Ichimoku lines are demonstrating that positive momentum is starting to increase, while the short-term oscillators are exhibiting a slight [..]

Technical Analysis – USDCAD retraces to 1.23 level before foothold takes shape

Posted on October 22, 2021 at 9:43 am GMT

USDCAD is consolidating across the 1.2300 handle after the price slipped back below the Ichimoku cloud and the simple moving averages (SMAs) over a period of one-month. The bullish bearing of the 50- and 100-day SMAs has softened, as has the negative tone of the 200-day SMA, overall signalling that the pair may adopt a more neutral form. The Ichimoku lines are indicating a pause in downward forces, while the short-term oscillators are conveying conflicting signals in directional momentum. The [..]

Technical Analysis – GBPJPY turns neutral below 5-year high; trend signals in focus

Posted on October 22, 2021 at 7:54 am GMT

GBPJPY shifted to the sidelines after its two-week straight-line rally faltered near a five-year high of 158.20. The rapid progress in the market has reactivated the 2020 uptrend, helping the 50-day simple moving average (SMA) to change course above the 200-day SMA and avoid a death cross. Some profit-taking would be normal in the short term as the RSI and the Stochastics are setting the stage for their next downturn below the overbought zone, and the MACD seems to be [..]

Technical Analysis – GBPUSD eases in ascending channel below 1.38

Posted on October 22, 2021 at 7:28 am GMT

GBPUSD has been developing within an upward sloping channel over the last month. Looking at the very short-term picture, the pair found strong resistance at the 20-period simple moving average (SMA) with the technical indicators confirming the corrective move. The MACD is moving beneath its trigger and zero lines with weak momentum, while the RSI is approaching the neutral threshold of 50. If the strong upside momentum was to lose steam and the pair reversed lower, support would initially come [..]

Technical Analysis – US 100 index re-tests major broken trendline

Posted on October 21, 2021 at 3:59 pm GMT

The US 100 stock index (cash) is at a critical situation as the bulls are currently looking to correct the break below the long-term ascending trendline, which caused the aggressive downfall to a three-month low of 14,382 at the end of September. In other words, the index is at a make-or-break point around 15,500. A decisive step above that bar may drive the price up to the 15,708 record high, where any violation would probably clear the way towards the 16,000 [..]

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