Technical Analysis / Page 330

Technical Analysis – Gold erases gains but neutral structure has still a bullish tilt

Posted on October 18, 2021 at 7:52 am GMT

Gold saw its bullish fortunes evaporating near the 200-day simple moving average (SMA) and the 1,800 level last week, with the price erasing its latest exciting rebound to meet the 20-day SMA at 1,759. Although the quick pullback was not enough to dissolve the broader neutral structure formed between the 1,835 and 1,721 boundaries, negative risks have not entirely faded yet. Particularly, with the RSI set to cross below its 50 neutral level, the MACD hovering within a narrow range marginally [..]

Technical Analysis – USDJPY holds marginally below 3-year high

Posted on October 18, 2021 at 6:46 am GMT

USDJPY is hovering slightly below the three-year high of 114.45 over the last 4-hour sessions. The 20- and 40-period simple moving averages (SMAs) are following the sharp bullish movement; however, the RSI is ticking lower in the 70 level. Moreover, the stochastic oscillator is moving lower, suggesting a downside correction in the short-term timeframe. If the price slips further and drops below the red Tenkan-sen line, immediate support could come from the 113.80 barrier, which overlaps with the 20-period SMA. [..]

Technical Analysis – US 30 index steers above 35,000; sentiment upbeat

Posted on October 15, 2021 at 11:44 am GMT

The US 30 stock index’s (Cash) two day aggressive rally from 34,111 is heading for the 35,113-35,200 resistance border, after piloting above all the simple moving averages (SMAs). The upturns in the 50- and 100-period SMAs are reflecting the sudden rise in intensity of positive impetus, following a period of consolidation in the index. Convincing directional drive has ceased and this is being conveyed in the short-term oscillators. The MACD is strengthening in the positive region, while the RSI has [..]

Technical Analysis – GBPUSD returns above 200-MA; positive tone intact

Posted on October 15, 2021 at 8:27 am GMT

GBPUSD is retesting yesterday’s resistance barricade of 1.3716-1.3733 that halted additional gains from materialising. The longer-term 100- and 200-period averages are not endorsing a definitive price trend, while the 50-period SMA is supporting the latest climb in the pair. The Ichimoku lines are indicating that upside momentum is growing, while the short-term oscillators are demonstrating that bullish forces are strengthening. The MACD above the zero mark has started to rise again, while the RSI is gaining in bullish territory. The [..]

Technical Analysis – USDCAD on a slippery slope; 1.23 next in focus

Posted on October 15, 2021 at 7:54 am GMT

USDCAD bears show no sign of abating as the sell-off continues for the fourth week, with the price crossing aggressively through the 1.2400 area to hit an almost three-month low of 1.2349 on Friday. The sharp downfall follows the confirmation of a bearish head and shoulder pattern (H&S) below the neckline at 1.2588 – a sign that the previous upward pattern has completed its cycle. The recent crossover of the 20-day simple moving average (SMA) by the 50-day SMA also came to signify [..]

Technical Analysis – GBPJPY rallies towards new 44-month high; next stop at 160.00

Posted on October 15, 2021 at 7:45 am GMT

GBPJPY posted six straight green days and today is continuing the bullish rally towards a fresh 44-month high around 156.57. The pair jumped well above the medium-term descending trend line and any closing candle beyond the previous high of 156.50 could endorse the positive bias. Technically, despite the fact that the stochastic oscillator is standing in the overbought region, the index is creating a bullish crossover within the %K and %D lines, pointing upwards. Also, the RSI is surpassing the 70 level [..]

Technical Analysis – Gold flirts with the 1,800 barrier

Posted on October 14, 2021 at 3:20 pm GMT

Gold is currently challenging the 1,800 handle after acquiring aggressive positive impetus on the back of a weaker greenback and a fall in longer-term bond yields. In spite of the recent bullish crossover of the 100-period simple moving average (SMA) by the rising 50-period SMA, the precious metal’s overall picture remains mostly neutral. The Ichimoku lines are demonstrating a pause in the positive drive, while the short-term oscillators reflecting upside momentum have somewhat stalled. The MACD’s ascent above its red [..]

Technical Analysis – EURJPY surges to new 3-month peak of 131.72

Posted on October 14, 2021 at 9:05 am GMT

EURJPY is surging again today, having peaked at a three-month high of 131.72 earlier in the session. The rebound from 128.30 propelled the pair well above the short-term simple moving averages (SMAs). Yet, the technical indicators are reflecting the pair’s recent lackluster performance: the RSI is flattening in the overbought region, and the MACD is moving lower below its trigger line. If the bulls are able to gain control above today’s high, they could tackle the 131.85 resistance level, which was last tested in July [..]

Technical Analysis – EURUSD prods past 50-MA and makes headways into cloud

Posted on October 14, 2021 at 8:57 am GMT

EURUSD is testing the 100-period simple moving average (SMA) at 1.1620, which coincidentally is blending with the Ichimoku cloud’s upper band, after the pair produced some positive impetus off the near 15-month low of 1.1523. The negative bearing of the 50-period SMA has stabilized, showing an easing in downward forces, while the falling 100- and 200-period SMAs are defending the bearish trend. The Ichimoku lines have yet to verify the growing positive momentum, while the short-term oscillators are demonstrating a [..]

Technical Analysis – AUDUSD paves way for further progress; bullish bias fragile

Posted on October 14, 2021 at 7:12 am GMT

AUDUSD is targeting the 0.7400 level again after successfully piercing the descending trendline drawn from May’s peak of 0.7890 on Wednesday. The bullish bias is still in place according to the momentum indicators as the MACD continues to grow within the positive area and above its red signal line, and the RSI keeps sloping upwards comfortably above its 50 neutral level. Yet, a careful approach will still be needed since the RSI is flirting with a major resistance territory, while [..]

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