Technical Analysis / Page 337

Technical Analysis – GBPUSD slips to one-month low; bias bearish

Posted on September 21, 2021 at 7:48 am GMT

GBPUSD retraced to an almost one-month low of 1.3640 on Monday after a multi-day battle with the 200-day simple moving average (SMA) and the 1.3840 barrier, where a dashed resistance trendline also happens to be. The pair is currently trying to heal yesterday’s wounds, but downside risks remain intact as the RSI is fluctuating comfortably below its 50 neutral mark, the Stochastics have yet to bullishly cross each other in the oversold area, and the MACD continues to stretch within [..]

Technical Analysis – WTI futures regain buoyancy above MAs

Posted on September 21, 2021 at 7:46 am GMT

WTI oil futures are pushing past the 71.00 handle after bouncing off the 100-period simple moving average (SMA) at 69.76, following the pair’s recent pullback from the 72.86 peak. The bullish 50- and 100-period SMAs are endorsing a continuation of the uptrend, while the short-term oscillators are validating an increase in positive impetus. The MACD is slightly beneath its red trigger and zero lines but is starting to turn back up, while the soaring RSI is extending its climb into [..]

Technical Analysis – EURJPY shows some positive signs after 5-day decline

Posted on September 21, 2021 at 6:56 am GMT

EURJPY is returning slightly up today, after the aggressive sell-off from the 130.70 resistance level. The buying pressure could find strong resistance around the 23.6% Fibonacci retracement level of the downward wave from 134.11 to 127.90 at 129.40 and the simple moving averages (SMAs), before moving towards the Ichimoku cloud. Technically, the RSI indicator is pointing upwards in the bearish territory, while the stochastic oscillator, after the bearish cross within the %K and %D lines in the oversold zone, is [..]

Technical Analysis – USDJPY loses additional ground in trading range

Posted on September 20, 2021 at 3:50 pm GMT

USDJPY has dropped beneath the converging simple moving averages (SMAs) but the picture remains neutral. The sideways trajectory of all the SMAs is not conveying any clear directional preference in the pair. Currently the short-term oscillators are slightly skewed to the downside. The MACD has nudged just underneath its red trigger and zero lines, while the RSI’s negative bearing seems to be taking a breather. That said, the stochastic oscillator’s negative charge remains intact, promoting extra negative price action in [..]

Technical Analysis – US 500 index retreats below 50-day SMA and uptrend line

Posted on September 20, 2021 at 11:50 am GMT

The US 500 (cash) index declined below the significant 50-day simple moving average (SMA) and the long-term ascending trend line that had been holding since October 2020. The price is approaching the Ichimoku cloud and the technical indicators are heading towards their oversold areas. The MACD is falling beneath its trigger and zero lines, while the RSI is slipping underneath the 50 level. Immediate support could come from the 4,361 barrier before meeting the lower surface of the cloud currently [..]

Technical Analysis – AUDUSD plunges as trend line and 200-MA deter advances

Posted on September 20, 2021 at 9:52 am GMT

AUDUSD seems to have found some footing in the vicinity of the August 27 lows of 0.7234 and 0.7222 respectively, after its drop from the 200-period simple moving average (SMA). Currently, the 100-period SMA is delaying confirming the downwards shift in price. However, an extension of the negative bearing of the 50-period SMA and an additional bearish crossover by it, but this time of the 200-period SMA, could reinforce downward pressures. The Ichimoku lines are indicating a slight pause in [..]

Technical Analysis – Gold eases again; SMAs point down

Posted on September 20, 2021 at 7:51 am GMT

Gold is still heading south, continuing the negative structure after the pullback from the 1,800 significant level. In trend indicators, the short-term simple moving averages (SMAs) are pointing down and are ready for a bearish crossover. The stochastic oscillator has entered the oversold territory, while the RSI is sloping marginally down in the negative region, both suggesting a downside movement. An extension below the intraday low of 1,742 will strengthen the case for a down-trending market, likely activating a fresh bearish wave towards the [..]

Technical Analysis – EURUSD slides to 1.1700 as bears keep control

Posted on September 20, 2021 at 7:18 am GMT

EURUSD started the week in negative mode, stretching its two-week old bearish run closer to the 1.1700 base, which proved to be a solid ground for upside reversals in March and more recently in August, though to a lesser extent. The technical picture does not appear to be in the bulls’ favor as the RSI continues to dig lower within the bearish area, while the MACD has slipped back into the negative territory with stronger momentum. The Stochastics have not confirmed oversold [..]

Technical Analysis – GBPJPY flickers green in a directionless market

Posted on September 17, 2021 at 10:04 am GMT

GBPJPY is mostly edging sideways and has recently found some footing off the 150.96 level, this being the 23.6% Fibonacci retracement of the up leg from 134.39 to 156.06. The flattening out of the 50- and 100-day simple moving averages (SMAs) is transmitting a lack of clear price direction, while the soaring 200-day SMA is defending the positive structure. Furthermore, the Ichimoku lines are not indicating a convincing price preference, while the short-term oscillators are also reflecting mixed signals in [..]

Technical Analysis – AUDJPY re-enters 80 territory but still below key borders

Posted on September 17, 2021 at 9:35 am GMT

AUDJPY returned above the 80.00 level on Friday after setting a strong foothold near a fresh three-week low of 79.73. This is also where the 23.6% Fibonacci retracement of the 85.78 – 77.87 down leg is positioned. Despite the latest upturn in the RSI, the short-term indicator remains below its 50 neutral level, while the MACD keeps lacking direction for a second consecutive week, hovering around its zero and signal lines. Hence, the momentum indicators are currently suggesting that buying [..]

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