Technical Analysis / Page 338

Technical Analysis – USDCAD fails to gain optimism for bullish bias in short-term

Posted on September 17, 2021 at 6:27 am GMT

USDCAD has been trading back and forth the 20-day simple moving average (SMA) over the last month, failing to improve the bullish view in the short-term. The pair rebounded off the six-year low of 1.2012 and is creating higher highs and higher lows; however, the technical indicators are mirroring the latest weak momentum. The MACD oscillator dived below its trigger line but is still in the positive region, while the RSI is ticking lower above its neutral threshold of 50. The Ichimoku cloud has [..]

Technical Analysis – EURJPY retreats to 3-week low below 129.00

Posted on September 16, 2021 at 11:20 am GMT

EURJPY could not find enough buyers to overcome the 129.34 level, with the spotlight shifting again towards the 128.57 support. The RSI and the MACD continue to hold near negative territories, while the first has also managed to dive near its oversold zone, signaling that the bears may not give up the battle yet. The 128.57 level could challenge any bearish attempts before diving towards the 127.92 area, registered in August 19. Hence, any breakout at this point may gather extra interest, [..]

Technical Analysis – WTI futures’ positive impetus under pressure

Posted on September 16, 2021 at 9:12 am GMT

WTI oil futures fresh upside drive off the 67.68 level seems to have run out of fuel near the upper Bollinger band at 73.22. The simple moving averages (SMAs) are feeding the positive structure even though sellers are now making a stand. The short-term oscillators are reflecting slight weakness in bullish forces. The MACD is strengthening above its red trigger line in the positive zone, while the RSI is marginally faltering in bullish territory. The stochastic lines in the overbought [..]

Technical Analysis – AUDUSD hovers marginally above 0.7300; weak momentum

Posted on September 16, 2021 at 6:57 am GMT

AUDUSD stuck near the 20- and 40-day simple moving averages (SMAs) and above the 0.7300 round number. The pullback from the 0.7480 high is painting a bearish picture with the technical indicators suggesting a bearish-to-neutral bias. The MACD is marginally standing below its trigger line and near the zero level, while the RSI is slipping in the negative region. Should selling forces strengthen, the 0.7220 support would come under the spotlight. Moving lower, the nine-month low of 0.7103 could next [..]

Technical Analysis – Gold returns beneath 1,800 border

Posted on September 15, 2021 at 3:45 pm GMT

Gold’s negative forces are currently brawling with the support region between the mid-Bollinger band and the 1,790 barrier, being the 38.2% Fibonacci retracement of the up leg from 1,718 until 1,834, after buyers lost their lead slightly above the 1,800 handle. The pair is demonstrating fresh consolidation between the 1,780 mark and the 23.6% Fibo of 1,807 following the decline from the 1,834 peak, something also being reflected in the simple moving averages (SMAs). The short-term oscillators are conveying mixed [..]

Technical Analysis – NZDUSD edges across 38.2% Fibonacci around 0.71

Posted on September 15, 2021 at 11:17 am GMT

NZDUSD is creeping sideways along the 0.7100 level, which happens to be surrounded by the 100- and 200-day simple moving averages (SMAs) at 0.7070 and 0.7120 respectively, after its latest rally ran out of steam. Judging from the SMAs, they are mostly promoting a neutral price development. The short-term oscillators appear fairly flat and are signalling weak and mixed signals in directional momentum. The MACD has flattened towards its red trigger line in the positive area, while the RSI is [..]

Technical Analysis – JP 225 index pins new multi-year high; bearish divergence detected

Posted on September 15, 2021 at 9:49 am GMT

Japan’s 225 stock index (cash) surpassed February’s high to top at 30,804 on Tuesday – the highest since the 1990 bubble levels – before closing a bit lower. While the index has corrected the minor pullback below the 20-period simple moving average (SMA) and is currently set to rechallenge the 30,545 – 30,600 barrier, the negative trajectory in the RSI and the MACD continues to conflict the latest higher highs in the market, warning of a bearish divergence phenomenon. In other words, the [..]

Technical Analysis – GBPJPY spikes above 38.2% Fibo after rebound off 151.10

Posted on September 15, 2021 at 8:32 am GMT

GBPJPY has bounced off the 151.10 support level, posting a couple of sessions of gains after the significant selling interest from the 152.84 resistance. The price is extending its move with a spike above the 38.2% Fibonacci of the up leg from 149.18 to 152.84 at 151.43 and the technical indicators are confirming the recent upside movement. The RSI is pointing upwards in the negative territory, while the %K and %D lines of the stochastic oscillator posted a bullish crossover [..]

Technical Analysis – US 500 index plays in a déjà vu episode; eyes on 4,428

Posted on September 15, 2021 at 8:02 am GMT

The US 500 stock index (cash) ran down to meet familiar support lines on Tuesday, represented by the blue Kijun-sen line and the 50-day simple moving average (SMA), after an unsuccessful attempt to return above the 20-day SMA at 4,491. The negative correction could be a déjà vu of the short-lived downfalls registered in the past six months as the long-term uptrend shows no sign of reversing. Adding to the encouraging signals is the red Tenkan-sen line which continues to fluctuate above [..]

Technical Analysis – USDJPY battles with 23.6% Fibo; loses ground in near-term

Posted on September 15, 2021 at 6:42 am GMT

USDJPY has been in a battle with the 23.6% Fibonacci retracement level of the up leg from 102.60 to 111.65 at 109.50 over the last month, creating a tight sideways channel. The 20- and 40-day simple moving averages (SMAs) as well as the Ichimoku cloud are acting as significant resistance regions. In terms of technical indicators, the RSI is declining in the negative area, while the stochastic is approaching the oversold zone, suggesting steeper decreases in the market. If the [..]

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