Technical Analysis / Page 349

Technical Analysis – EURCHF plummets to 9-month low

Posted on August 3, 2021 at 12:31 pm GMT

EURCHF is plummeting towards a fresh nine-month low of 1.0727, creating a strong selling movement after the pullback off 1.0864. The RSI indicator is moving south in the negative territory, while the stochastic is turning to the downside again despite standing above the oversold zone. Any extension beneath the intraday low and the 1.0725 support, taken from the inside swing in November 2020 could take the market towards the next bottom at 1.0660. Alternatively, a climb beyond the immediate resistance [..]

Technical Analysis – EURJPY rebounds but downside risks remain in force

Posted on August 3, 2021 at 10:43 am GMT

EURJPY is drifting across the 129.61 level, which happens to be the 50.0% Fibonacci retracement of the up leg from 125.08 until 134.12, after the bearish correction bounced off the 200-day simple moving average (SMA). The 200-day SMA is defending the positive structure, while the 100- and 50-day SMAs are suggesting that negative powers are still active. The flattening of the 100-day SMA as well as a possible bearish crossover of it by the 50-day SMA is further signalling a [..]

Technical Analysis – WTI futures struggle below SMAs and 72.00 level

Posted on August 3, 2021 at 9:28 am GMT

WTI crude oil futures are moving horizontally over the last 4-hour sessions above the 70.60 support level and below the short-term simple moving averages (SMAs). Regarding the technical indicators, the RSI is edging marginally higher in the bearish zone, suggesting a possible upside pullback; however, the MACD is still stretching its negative momentum below its trigger and zero lines. If oil prices head north, immediate resistance could come from the 40- and 200-period simple moving averages (SMAs), which are currently [..]

Technical Analysis – GBPUSD advances above 1.39; neutral outlook

Posted on August 3, 2021 at 8:46 am GMT

GBPUSD is heading up again after the pullback off the 1.4000 restrictive level and the 40-day simple moving average (SMA) last week. The RSI indicator is mirroring the latest upside correction in the price, while the MACD is also reflecting some improvement in buying interest, advancing above its trigger line and trying to surpass the zero level. A decisive close above the nearby resistance of 1.4000 could boost buying pressure towards the 35-month peak of 1.4238. Stretching further up, the bulls may next haunt the 1.4345 barrier, taken from [..]

Technical Analysis – AUDUSD consolidates below 0.74 but buyers intensify

Posted on August 2, 2021 at 3:25 pm GMT

AUDUSD is currently pushing above the 50-period simple moving averages (SMAs) and the flattening Ichimoku lines at 0.7364. The falling 200- and 100-period SMAs are endorsing a negative price trajectory, while the slight uptick in the 50-period SMA is reflecting buyers’ efforts to fight back. The Ichimoku lines are signalling dried up directional momentum, while the short-term oscillators are conveying weak and mixed signals as a clear price course has yet to evolve or begin to gain a lead. The [..]

Technical Analysis – USDJPY tumbles below 23.6% Fibonacci and SMAs

Posted on August 2, 2021 at 11:50 am GMT

USDJPY is attracting a selling interest beneath the 23.6% Fibonacci retracement level of the down leg from 111.65 to 109.06 at 109.67, shifting the simple moving averages (SMAs) to the downside in the short-term. The RSI is declining below the 50 level and the stochastic is moving towards the oversold territory. The next target is the July 29 low at 109.35. At this stage the market would likely see a resumption of the downtrend from the 16-month peak of 116.65 [..]

Technical Analysis – Gold eases back toward 1,800 after advances curbed

Posted on August 2, 2021 at 9:26 am GMT

Gold is currently at the red Tenkan-sen line at 1,811 looking set to continue the road to the 1,800 mark, after positive developments were halted by the 50-day simple moving average (SMA) and the July 15 high of 1,834. The converging SMAs are not conveying any definitive price bearing and thus are feeding a sideways trajectory. Furthermore, the horizontal Ichimoku lines are indicating that directional impetus is lacking, while the short-term oscillators are endorsing the commodity’s attempt to push lower. [..]

Technical Analysis – EURUSD pulls back off 40-day SMA around 1.1900

Posted on August 2, 2021 at 6:43 am GMT

EURUSD found strong resistance at the 40-day simple moving average (SMA), which was hovering near the 1.1900 psychological level. The RSI is ticking lower, trying to fall beneath its neutral threshold of 50; however, the MACD is still extending its bullish bias above its trigger line in the negative region. In trend indicators, the red Tenkan-sen line is approaching the blue Kijun-sen line, suggesting a positive bias. If the price jumps above the 40-day SMA, immediate resistance could come from [..]

Technical Analysis – USDCHF cements a negative tone beneath MAs

Posted on July 30, 2021 at 12:21 pm GMT

USDCHF’s decline has recently stalled around the 0.9043-0.9053 support obstacle. In spite of this, the falling 50- and 100-period simple moving averages (SMAs) and their recent bearish crossovers of the 200-period SMA are nourishing the plunge in the pair. The Ichimoku lines are diving, and the distancing of the red Tenkan-sen line below its blue Kijun-sen line, is indicating that negative forces hold the lead. The short-term oscillators are somewhat mixed but a slight bearish preference has yet to abate [..]

Technical Analysis – GBPUSD keeps bullish tone and aims for 1.40

Posted on July 30, 2021 at 8:35 am GMT

GBPUSD found some footing at the red Tenkan-sen line at 1.3935 after a minor pullback from the 1.3981 level. The pair has been climbing for more than a week now and its positive bearing is being confirmed by the upturn in the 50- and 100-period simple moving averages (SMAs). The Ichimoku lines are indicating that positive drive is still alive and an achieved bullish crossover of the 100-period SMA at 1.3803 by the 50-period SMA could further boost the ascent. [..]

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