Technical Analysis / Page 354

Technical Analysis – EURJPY hits 4-month low; pivot area could be nearby

Posted on July 20, 2021 at 7:21 am GMT

EURJPY raised the odds for a bearish trend reversal following the drop below the long-term ascending trendline and the Ichimoku cloud, with the 20- and 50-day simple moving averages (SMAs) further enhancing the bearish case after their recent intersection. The price is currently consolidating Monday’s losses around a four-month low of 128.87 as the downward direction in momentum indicators keep favoring additional price declines. That said, the RSI and the Stochastics are flirting again with oversold levels, providing some optimism that the [..]

Technical Analysis – US 500 index’s plunge stretches below 200-MA

Posted on July 19, 2021 at 3:20 pm GMT

The US 500 stock index has continued to deteriorate from the region of its all-time highs of 4,392, slipping below the simple moving averages (SMAs), before finding some footing around the 4,232-4,241 support zone. The topping 50-period SMA is suggesting a slight shift in sentiment to the downside as it heads for a bearish crossover of the 100-period SMA. The diving Ichimoku lines are backing strong downward momentum, while the short-term oscillators are signalling dictating bearish forces. The MACD, below [..]

Technical Analysis – Netflix stock heads south, holds above SMAs

Posted on July 19, 2021 at 1:38 pm GMT

Netflix stock has been underperforming in the past two days, finding support at the 20-day simple moving average (SMA) around 527. When looking at the bigger picture the price lacks a clear trend and has been consolidating after its rally above 456. The RSI indicator is falling after the pullback of the overbought level and the MACD is dropping below its trigger line in the positive region. If the 20-day SMA fails to hold the price above it, then the focus would shift to the downside [..]

Technical Analysis – EURUSD downside risks look to accelerate

Posted on July 19, 2021 at 8:37 am GMT

EURUSD continues to fade far beneath its simple moving averages (SMAs) heading for the April 5 low of 1.1737 and the adjacent March 31 trough of 1.1703. The diving 50- and 100-day SMAs are endorsing negative price action, and the near completion of a bearish crossover of the 200-day SMA, also by the 50-period SMA, could boost the downward trajectory. The negative charge and the widening in the Ichimoku lines are indicating that bearish forces are still active, while the [..]

Technical Analysis – Gold drags below 200-SMA; 1,800 in focus

Posted on July 19, 2021 at 7:21 am GMT

Gold started the week on a slightly negative note, aiming to extend Friday’s pullback from the 200-day simple moving average (SMA) towards the 1,800 level. Another downside correction is likely given the weakness in the Stochastics and the bearish reversal in the RSI, which is ready to step back below its 50 neutral level. On the other hand, the steady recovery in the MACD is creating some speculation about whether any downfall could survive below the 1,800 mark, where the [..]

Technical Analysis – GBPUSD shifts sideways as negative pressures soften

Posted on July 16, 2021 at 12:59 pm GMT

GBPUSD is tiptoeing across the 1.3800 handle after its recent positive traction off the 1.3730 level ended up being curbed around the 1.3900 hurdle. Directional forces seem to have toned-down, something also being demonstrated in the overall stabilized demeanours of the 50- and the 100-period simple moving averages (SMAs), as well as the muted bearings of the Ichimoku lines. In terms of the short-term oscillators, they are transmitting conflicting signals in directional sentiment. The MACD and its red trigger line [..]

Technical Analysis – GBPJPY dips back below Ichimoku cloud; bearish tone persists

Posted on July 16, 2021 at 9:43 am GMT

GBPJPY has been deteriorating for around a month-and-a-half now, logging lower highs and lows from its near 40-month peak of 156.06. The bullish charge in the 50- and 100-day simple moving averages (SMAs) is becoming slightly sluggish, with their slopes suggesting positive drive has abated somewhat. Even though the Ichimoku lines are demonstrating a pause in negative momentum, they are retaining a slight bearish preference. The short-term oscillators are transmitting conflicting signals in directional momentum. The MACD, not too far [..]

Technical Analysis – USDCAD flirts with 200-day SMA, below 1.2600

Posted on July 16, 2021 at 7:17 am GMT

USDCAD has found strong resistance at the 200-day simple moving average (SMA) and is reversing slightly to the downside today. The RSI is confirming the recent negative move as it is pointing south in the positive territory; however, the MACD is stretching its bullish momentum above its trigger and zero lines. In the case that the 200-day SMA acts as a significant turning point, it could send the price lower again towards the 1.2420 support, which coincides with the 20-day [..]

Technical Analysis – EURJPY bounces on support base formed in April

Posted on July 15, 2021 at 3:13 pm GMT

EURJPY has found footing for a second time in the vicinity of the support boundary of 129.56-129.78, formed by the lows in April. In spite of this, the simple moving averages (SMAs) are maintaining their bearish bearings, feeding the downward price pressures. The Ichimoku lines are holding a minor negative bias, while the short-term oscillators are mixed over directional momentum. The MACD, in the negative zone, is edging towards its red trigger line, while the RSI is floating above the [..]

Technical Analysis – USDCHF surges above 20-period SMA; next target at 0.9200

Posted on July 15, 2021 at 12:34 pm GMT

USDCHF posted an aggressive bullish rally after the bounce off the 0.9117 support level, which stands near the 200-period simple moving average (SMA). Currently, the price is surpassing the 20-period SMA, shifting the momentum of the indicators to the upside. The RSI is approaching the 50 level and the stochastic posted a positive cross within its %K and %D lines. Immediate resistance is being provided by the 40-period SMA at 0.9174 and the 0.9200 psychological number. A break above this level would [..]

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