Technical Analysis / Page 341

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 [..]

Technical Analysis – NZDUSD bulls get rejected near trendline

Posted on September 8, 2021 at 7:51 am GMT

NZDUSD was forced to move back after marking two consecutive weekly wins, thanks to resistance from the descending trendline, which has been joining the highs from the 2021 peak of 0.7463. The pullback from the three month high of 0.7169 sent the price below the 0.7100 level and the 200-day simple moving average (SMA), marginally though, turning the focus to the 38.2% Fibonacci retracement of the 0.7463 – 0. 6800 downleg at 0.7055. With the RSI and the fast Stochastics losing steam, and the MACD having reached [..]

Technical Analysis – EURGBP renews August uptrend; bias positive

Posted on September 7, 2021 at 1:18 pm GMT

EURGBP quickened its pace higher on Tuesday, putting the August uptrend back on the wires to peak at a fresh seven week high, marginally above the previous top of 0.8600. According to the RSI and the Stochastics, the market has not entered overbought waters yet as both indicators are currently sloping upwards and are still some distance below their overbought levels. Also, the MACD has bounced back into the positive area. Hence, if the pair posts a decisive close above [..]

Technical Analysis – JP 225 index skyrockets to 5-month high

Posted on September 7, 2021 at 10:11 am GMT

Japan’s 225 stock index (cash) had an extraordinary rally last week, rising at the fastest pace in more than three years after Prime minister Suga’s resignation to hit a five-month high of 30,190 on Monday. The bulk of gains emerged following the close above the resistance trendline drawn from the top of 30,711, with the price consequently invalidating the downward pattern above the previous high of 29,974. The RSI and the Stochastics suggest that the latest bounce is overstretched and it’s time [..]

Technical Analysis – GBPUSD trades sideways but upside structure prevails

Posted on September 7, 2021 at 8:14 am GMT

GBPUSD has managed to settle above the 200-day simple moving average (SMA) around 1.3815 after a bounce within the support base of 1.3564-1.3621. The 100- and 200-day SMAs are endorsing the recently adopted neutral phase in the pair, while the negative bearing of the 50-day SMA has also eased. The unclear Ichimoku lines are not confirming any price direction, while the short-term oscillators are providing mixed signals in directional momentum. The MACD is above its red trigger line and is [..]

Technical Analysis – EURJPY stalls at 130.49; could play another bullish card

Posted on September 7, 2021 at 7:28 am GMT

EURJPY bulls are in a fight with the 130.49 barrier for the fourth consecutive day. The longer the downside pressures persist, the bigger the chance for a downside correction gets, though the upward trend in the RSI, which has still some way to go to reach the overbought area, the positive slope in the red Tenkan-sen line, and the strength in the MACD, are currently suggesting that buyers have still a sort of advantage to drive the market before a downside correction [..]

Technical Analysis – EURCHF bulls approach tough resistance barricade

Posted on September 6, 2021 at 3:12 pm GMT

EURCHF is attempting to overstep the Ichimoku cloud after a three-week ascent off a 9-month low of 1.0690. Currently, the bearish 50- and 100-day simple moving averages (SMAs) are still endorsing negative price action, while the positive shift in the bearing of the Ichimoku lines is signalling growing positive momentum. Moreover, the short-term oscillators are indicating that positive drive is picking up. The MACD is strengthening above its zero and trigger lines, while the RSI is improving in bullish territory. [..]

Technical Analysis – EURUSD gains stumble at 1.19 region

Posted on September 6, 2021 at 8:27 am GMT

EURUSD has faltered in the vicinity of the 1.1900 handle with a minor pullback pausing positive price action, which commenced from the 9½-month low of 1.1664. The 100- and 200-day simple moving averages (SMAs) are endorsing a more neutral price tone, while the eased negative bearing of the 50-day SMA is proposing buyers are a step ahead. The Ichimoku lines are indicating a pause in positive momentum, while the short-term oscillators are signalling buyers are fighting to maintain an advantage. [..]

Technical Analysis – Gold bumps on the 1,835 wall; bullish phase still on the wires

Posted on September 6, 2021 at 7:57 am GMT

Gold bulls saw their efforts falling apart around the tough resistance of 1,835 on Friday despite setting a solid foothold around the 200-day simple moving average (SMA). The battle, however, is not over yet and the precious metal could make more attempts for an upside breakout beyond that ceiling as long as the RSI continues to trend upwards above its 50 neutral mark. The positive momentum in the MACD, which is comfortably growing above its signal and zero lines for the [..]

Technical Analysis – GBPJPY improves after bounce around familiar floor

Posted on September 3, 2021 at 10:13 am GMT

GBPJPY, although having nudged over the 50-day simple moving average (SMA) at 151.85, has yet to overstep the Ichimoku cloud’s upper surface, residing between the 50-and 100-day SMAs. The 100- and 200-day SMAs are backing a positive picture, while the 50-day SMA is endorsing a phase of consolidation along with the unclear Ichimoku lines. That said, the short-term oscillators are suggesting that bullish momentum is ahead. The strengthening MACD has neared its zero mark after pushing above its red trigger [..]

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