Technical Analysis / Page 340

Technical Analysis – EURJPY witnesses fast upside reversal near oversold zone

Posted on September 10, 2021 at 9:07 am GMT

EURJPY saw its fortunes improve after the rapid upturn near the bottom of the Ichimoku cloud on the four-hour chart and the 38.2% Fibonacci of the 127.92 – 130.73 upleg at 129.65 early on Friday. Having snapped the 130.00 mark, the price is currently pushing for a close above its 20- and 50-period simple moving averages (SMAs) with scope to test the former resistance around 130.42. The steep rebound in the RSI, which created a strong foundation near the 30 oversold [..]

Technical Analysis – USDCAD loses steam above SMAs; sellers step up

Posted on September 10, 2021 at 9:05 am GMT

USDCAD, currently at the red Tenkan-sen line at 1.2624, is surrendering ground from the 1.2761 high after its recently made headways, resulting from a bounce off the 200-day simple moving average (SMA). The longer-term 100- and 200-day SMAs are validating a more neutral tone in the pair. That said, the bullish crossover of the 200-day SMA by the 50-day SMA has yet to confirm that sellers are now taking the lead. The somewhat static Ichimoku lines are indicating a pause [..]

Technical Analysis – GBPJPY stubbornly tests a bullish trendline breakout

Posted on September 10, 2021 at 7:05 am GMT

GBPJPY has been in a tight range over the past week but still stubbornly active near the tough resistance trendline, which has been cancelling bullish actions for the third consecutive month. With the price gaining stronger positive traction early on Friday and the RSI escaping a drop below its 50 neutral mark and printing fresh higher highs below its 70 overbought mark instead, the odds are in favor of an upside breakout. Encouragingly, the MACD managed to enter the positive area [..]

Technical Analysis – Gold advances curbed by 100- and 200 MAs

Posted on September 9, 2021 at 2:02 pm GMT

Gold has retraced to the vicinity of the horizontal 200-period simple moving average (SMA) at 1,794, where the price lately appears to be consolidating. The longer-term 100- and 200-period SMAs are not endorsing any clear price direction, while the bearing of the 50-period SMA, is suggesting a deeper bearish price correction. The Ichimoku lines are indicating a pause in downward pressures, while the short-term oscillators are signalling a pickup in positive momentum. The MACD, in the negative region, is just [..]

Technical Analysis – EURUSD makes quick rebound ahead of ECB policy decision

Posted on September 9, 2021 at 9:38 am GMT

EURUSD welcomed fresh buying interest around the 1.1814 level early on Thursday ahead of the ECB policy announcement, bouncing quickly up to test the 1.1835 barrier and the 50-period simple moving average (SMA) on the four-hour chart. The 20-period SMA and the 23.6% Fibonacci of the 1.1663 – 1.1908 up leg at 1.1850 could be another struggle on the way up, deterring any moves towards the 1.1880 key resistance territory, a break of which is required to access the uptrend’s [..]

Technical Analysis – AUDUSD returns below cloud as upside momentum falters

Posted on September 9, 2021 at 8:21 am GMT

AUDUSD has pulled back beneath the Ichimoku cloud meeting the 50-day simple moving average (SMA) after a rally off a 9½-month trough, which formed at 0.7105. The longer-term 200-day SMA has yet to deliver a signal that negative forces are gaining an advantage. That said, the 50- and 100-day SMA’s prevailing bearish bearing remains intact for now, promoting sellers are at the wheel. The Ichimoku lines are indicating a stall in the ascent, in spite of the upward pointing red [..]

Technical Analysis – WTI oil futures extend sideways trading between SMAs

Posted on September 9, 2021 at 7:34 am GMT

WTI oil futures (October delivery) could not pick up any rewards this week, remaining trapped between the 20- and 50-day simple moving averages (SMA) at 67.46 and 69.62 respectively. The technical picture displays a neutral-to-bullish short-term bias as the MACD is looking to flourish within the positive area, while the RSI is extending its zigzag move above its 50 neutral level. Hence, traders will be focused on a possible extension above the 50-day SMA before they raise their buying orders. [..]

Technical Analysis – GBPJPY upside looks frail as selling orders grow

Posted on September 8, 2021 at 3:12 pm GMT

GBPJPY is testing the Ichimoku cloud’s upper surface at 151.55, which happens to be in-line with the 23.6% Fibonacci retracement of the up leg from 149.17 until 152.28. The 50-period simple moving average (SMA) is promoting upside momentum in the short-term picture. However, the longer-term 100- and 200-period SMAs are exhibiting a neutral demeanour. The price outlook appears skewed to the downside for now with the short-term oscillators endorsing strengthening negative momentum. The MACD is beneath its red trigger line [..]

Technical Analysis – US 500 index unwinds September’s gains

Posted on September 8, 2021 at 11:32 am GMT

The US 500 stock index (cash) flipped September’s advance, sliding below the 4,500 mark, though only marginally, before inching back above this level. Downside corrections emerging after fresh record highs are common and short-lived, especially if those are not hindering the original upward trajectory in the market as in the case of the US 500 index. The negative cross between the red Tenkan-sen and Kijun-sen lines and the falling MACD, which has slipped into the bearish territory, foresee more weakness in the [..]

Technical Analysis – USDJPY ticks up within the confines of a trading range

Posted on September 8, 2021 at 9:03 am GMT

USDJPY has shoved above the 50-day simple moving average (SMA) in attempts to head towards the ceiling of a three-week consolidation established between the limits of 108.72 and 110.80. The rising 200-day SMA is backing the positive picture, while the fairly sideways demeanour of the 50- and 100-day SMAs, is sponsoring a more horizontal price trajectory. The short-term oscillators are reflecting an increase in positive momentum. The MACD has nudged above its red trigger and zero lines, while the RSI [..]

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