Technical Analysis / Page 339

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 [..]

Technical Analysis – EURCHF retreats from the 1.09 vicinity

Posted on September 14, 2021 at 3:18 pm GMT

EURCHF has pulled back from its fresh high of 1.0904 and is about to test the 50-period simple moving average (SMA) at 1.0865. In spite of the minor retracement, the bullish tone of the SMAs is still endorsing the upside. The short-term oscillators are demonstrating that sellers are in the lead, and bullish price action is fading. The MACD, in the positive region, is decreasing towards its red trigger line, while the falling RSI appears to be set to break [..]

Technical Analysis – WTI futures hold below 5-week high in bullish bias

Posted on September 14, 2021 at 11:47 am GMT

WTI crude oil futures rebounded off the 38.2% Fibonacci retracement level of the upward wave from 61.75 to 71.18 at 67.50 last week, creating a new five-week high at 71.18. Currently, the price is heading south, with the technical indicators mirroring this view. The RSI is slipping in the positive region, while the MACD is losing momentum above its trigger and zero lines. In case the market continues the downside movement, immediate support could come from the 20- and 40-period [..]

Technical Analysis – EURJPY gains traction after push above 200-day SMA

Posted on September 14, 2021 at 9:16 am GMT

EURJPY has found some positive footing at 129.61, which happens to be a level of confluence and the 50.0% Fibonacci retracement of the up leg from 125.08 until 134.12. Positive factors that may contribute to reviving upside momentum are the persistent backing of the positive structure by the 100- and 200-day simple moving averages (SMAs), together with the easing in the 50-day SMA’s negative bearing. The short-term oscillators are also suggesting a growing bullish drive. The MACD has nudged a [..]

Technical Analysis – Apple stock loses 4.5% from records ahead of iPhone launch event

Posted on September 14, 2021 at 8:30 am GMT

Apple’s stock lost around 4.5% following the peak to a fresh record high of 157.12 last week, printing one of its fastest declines since the start of the year before the company’s annual iPhone launch event today. The price closed marginally below the 50-period exponential moving average (EMA) on the four-hour chart, which has been a key floor to downside movements since the end of July, but the 23.6% Fibonacci retracement of the 122.99 – 157.12 upleg came immediately to [..]

Technical Analysis – GBPUSD flattens near 200-day SMA; neutral overall

Posted on September 14, 2021 at 6:58 am GMT

GBPUSD has been in a trading range since the end of December 2020, showing no significant directional moves. In the short-term picture, the price is also flattening near the strong 200-day simple moving average (SMA), with the technical indicators confirming the neutral bias. The MACD is holding near its zero line and the RSI is moving sideways above the 50 level, both with weak momentum. Should the pair strengthen its positive momentum, the next resistance could come around the 1.4000 psychological mark, which has been acting as a mid-level of [..]

Technical Analysis – AUDUSD finds footing around 200-MA and off 38.2% Fibonacci

Posted on September 13, 2021 at 3:50 pm GMT

AUDUSD has found some traction in the region of the 0.7321-0.7344 support zone, which encapsulates the 200-period simple moving average (SMA) and the 0.7335 level, being the 38.2% Fibonacci retracement of the up leg from 0.7105 until 0.7477. The positively charged 50- and 100-period SMAs and the nearing of a bullish crossover of the 200-period SMA by the 100-period one is an encouraging sign that the upward trend could come back into play. The short-term oscillators are suggesting positive momentum [..]

Technical Analysis – Gold tiptoes above 1,782 mark with unclear direction

Posted on September 13, 2021 at 10:15 am GMT

Gold is edging sideways after retreating below the horizontal simple moving averages (SMAs) and the 1,800 level. Directional impetus in the price is absent, feeding a phase of consolidation in the precious metal, something also being endorsed by the converged SMAs. The short-term oscillators are also lacking clear suggestions relating to the price’s next path as momentum appears to have dried up. The MACD is flat beneath its static red trigger line slightly north of the zero threshold, while the [..]

Technical Analysis – EURUSD declines below 1.1800; neutral-to-bearish bias

Posted on September 13, 2021 at 7:05 am GMT

EURUSD has been in a bearish-to-neutral outlook from the beginning of the year and currently are approaching again the 20- and 40-day simple moving averages (SMAs) below 1.1800 in the short-term. After the pullback on the 1.1910 resistance, the price is heading south with the technical indicators mirroring the latest negative move. The RSI is falling in the negative region, while the MACD is slipping below its trigger line in the positive area. If the pair declines underneath the SMAs, [..]

Technical Analysis – US 30 index struggles to push over mid-Bollinger band

Posted on September 10, 2021 at 2:01 pm GMT

The US 30 stock index (Cash) has dived back below the mid-Bollinger band at 35,031, with its odds looking very slim for now in testing the resistance barricade reinforced by the simple moving averages (SMAs). As things stand, the converging SMAs are promoting a slight neutral-to-bearish tilt. The short-term oscillators are favouring the downside. The MACD’s climb is subsiding in the bearish region and it is heading down towards its red trigger line, while the stochastic oscillator is about to [..]

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