Technical Analysis / Page 361

Technical Analysis – WTI futures plunges beneath ascending line near 72.00

Posted on June 29, 2021 at 9:26 am GMT

WTI crude oil futures are falling further, continuing the selling interest from the 32-month high of 74.43. The RSI is now trending south in the negative zone, while the MACD is losing ground below its trigger and zero lines. A sell-off might drive the bears all the way towards the 70.75 level ahead of the 69.80 barrier. Underneath this line, the 200-period simple moving average (SMA) at 68.73 could halt bearish actions before testing the 68.25 level. Immediate resistance would [..]

Technical Analysis – GBPUSD advances muted by 100-SMA and Ichimoku cloud

Posted on June 29, 2021 at 9:04 am GMT

GBPUSD is edging lower underneath its red Tenkan-sen line around 1.3895 after its latest bounce around the 1.3800 handle was curbed by the 100-day simple moving average (SMA) and the cloud’s lower surface. The SMAs are maintaining a bullish bearing, signalling that negative forces have yet to take full command. That said, the Ichimoku lines are indicating that negative momentum is a slight step ahead, while the short-term oscillators are conveying a subtle tilt to the downside. The MACD, not [..]

Technical Analysis – EURJPY slips below bearish cross within SMAs

Posted on June 29, 2021 at 6:30 am GMT

EURJPY posted three consecutive red days below the 132.70 restrictive area; however, the rebound off the 130.00 psychological level is still in place. The 20- and 40-day simple moving averages (SMAs) have completed a bearish crossover, acting as strong resistance for the bulls. The RSI is mirroring the price action, moving sideways beneath the 50 level, while the stochastic is turning lower from the overbought region. An immediate support level could come from the lower surface of the Ichimoku cloud, [..]

Technical Analysis – US 500 index tiptoes to fresh all-time high

Posted on June 28, 2021 at 2:38 pm GMT

The US 500 stock index (Cash) has ticked to a new all-time high of 4,289, basically a step or two higher from its June 15 level of 4,267. The firm simple moving averages (SMAs) are shielding the uptrend and are steering the price towards the 4,323 level, which happens to be the 176.4% Fibonacci extension of the down leg from 3,396 until 2,183. The Ichimoku lines have converged and are not reflecting growing positive momentum at the moment. The short-term [..]

Technical Analysis – AUDUSD slides further, meeting Bollinger band

Posted on June 28, 2021 at 1:56 pm GMT

AUDUSD is posting a steep slide today, retesting the lower Bollinger band in the 4-hour chart. The pair was attempting to recoup the previous week’s selling interest, but traders drove the market lower once more. The RSI and MACD are both confirming the current bearish structure, implying that additional negative pressures are on the way. If the price retreats beneath the 40-period simple moving (SMA) and the Bollinger band, immediate resistance could come from the 0.7495 barrier ahead of 0.7475, [..]

Technical Analysis – USDJPY redirects up as buying interest intensifies

Posted on June 28, 2021 at 1:01 pm GMT

USDJPY is tackling the 1-year rally high of 110.96, encapsulated in the resistance section of 110.87-111.11, attempting to reinstate upside momentum beyond the latter, which happens to be the fresh near 15-month peak. The bullish simple moving averages (SMAs) have recently been defending advances above the 109.00 level, with the 50-period SMA reinforcing the pair’s latest foothold in the vicinity of the lower Bollinger band around 110.57. The short-term oscillators are reflecting the surge in positive impetus, suggesting that the [..]

Technical Analysis – EURUSD looks feeble as congested resistances cripple buoyancy

Posted on June 28, 2021 at 8:12 am GMT

EURUSD seems to have lost whatever positive traction it moulded off 1.1846 prior to a buffer zone of upside limitations between 1.2000-1.2100. The flattening simple moving averages (SMAs) are endorsing a neutral tone and are capping any meaningful advances, while the Ichimoku lines are indicating that negative momentum could retake the lead. The short-term oscillators are suggesting that positive momentum is retaliating. The MACD, below zero, is flattening towards its red trigger line, while the RSI is making efforts to [..]

Technical Analysis – Gold fails to test 1,760 again; neutral bias

Posted on June 28, 2021 at 7:36 am GMT

Gold prices are moving sideways in the short-term, developing within the 23.6% Fibonacci retracement level of the down leg from the record high of 2,074.89 to 1,676 at 1,770 and the 1,800 psychological number. Looking at the technical indicators, the stochastic oscillator is headed north following a positive crossover within the %K and %D lines, while the RSI is attempting to gain traction in negative area. However, the MACD continues to lose ground beneath its trigger and zero lines. The [..]

Technical Analysis – NZDUSD bulls take charge; 0.71 level under fire

Posted on June 25, 2021 at 1:34 pm GMT

NZDUSD is extending its minor uptrend, which began from the near 7-month low of 0.6922, climbing to challenge the 0.7100 handle. While the bearish simple moving averages (SMAs) continue to sponsor a negative picture, the rising Ichimoku lines are signalling bullish impetus, suggesting strength in the ascent. The short-term oscillators are also reflecting growing positive momentum. The MACD is powering above its red trigger line in the bullish region, while the rising RSI is approaching the 70 overbought level. The [..]

Technical Analysis – GBPUSD redirects lower as bearish forces take command

Posted on June 25, 2021 at 12:32 pm GMT

GBPUSD is steering back down after the capping 50-period simple moving average (SMA) dismissed the idea of additional gains past the 1.4000 handle. The diving 50- and 100-period SMAs are endorsing the bearish picture, while the topping 200-period SMA, is validating growing negative price action. The lines of the Bollinger bands are static, signalling the squeeze in price before directional volatility picks up. Furthermore, the short-term oscillators are exhibiting a slight tilt to the downside. The MACD has just dipped [..]

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