Technical Analysis / Page 366

Technical Analysis – EURCHF’s upward attempt may be short-lived

Posted on June 15, 2021 at 12:44 pm GMT

EURCHF is challenging the 20-period simple moving average (SMA) once again, providing some positive signals. The RSI is trying to overcome the neutral threshold of 50; however, the stochastic is heading north following the bearish crossover within the %K and %D lines in the short-term. If the bulls continue to buy the pair, the 40-period SMA, which coincides with the 1.0908 barrier ahead of the 23.6% Fibonacci retracement level of the falling wave from 1.1075 to 1.0870 at 1.0919, might provide [..]

Technical Analysis – WTI crude oil futures ease in ascending move in near term

Posted on June 15, 2021 at 8:47 am GMT

WTI crude oil futures have moved back and forth above the 20-period simple moving average (SMA) and the 32-month peak of 71.73 since their severe jump from 61.54. The technical picture is muddled, as the RSI lacks direction, holding in the positive region, but the MACD indicates that the short-term decline would likely continue as it fell below its trigger line. If negative forces persist, the market may find support at the 70.60 level before falling to the 40-period SMA [..]

Technical Analysis – USDCAD gains curbed by ceiling of trading range

Posted on June 15, 2021 at 7:47 am GMT

USDCAD is resting on the 200-period simple moving average (SMA) around 1.2125 following the deflection off the roof of a sideways market that has lasted for around a month. Nonetheless, the 50- and 100-period SMAs are gradually improving and should they cross above the 200-period SMA, this could be a positive sign for the pair. That said, the flattening blue Kijun-sen line is confirming the lack of force in the latest positive impetus, which resulted in the pair failing to [..]

Technical Analysis – GBPUSD aims for rebound but bearish risks linger

Posted on June 15, 2021 at 7:08 am GMT

GBPUSD remains resilient within a sideways channel and around the 1.4100 level, where the 23.6% Fibonacci of the latest upleg also resides (1.3668 – 1.4248). The recent soft dwindle below the 20-day simple moving average (SMA) and the blue Kijun-sen line favors a negative extension towards the important long-term ascending trendline and the 50-day SMA, both converging to the 38.2% Fibonacci of 1.4026. Slightly beneath, the 50% Fibonacci of 1.3958 may attempt to catch the fall ahead of the 61.8% [..]

Technical Analysis – EURJPY advances above 20-day SMA; bullish outlook

Posted on June 15, 2021 at 6:35 am GMT

EURJPY surged above the 20-day simple moving average (SMA) yesterday, remaining below the more-than-three-year high of 134.14. Following an escape from the negative level, the RSI is currently developing with positive momentum above its neutral threshold of 50, while the MACD is slowing down in bullish territory, holding beneath its trigger line. In trend indicators, the red Tenkan-sen line is still moving above its blue Kijun-sen line and the Ichimoku cloud is heading north. If the pair rises further, immediate resistance might [..]

Technical Analysis – AUDUSD maintains neutrality; gains capped by MAs

Posted on June 14, 2021 at 3:30 pm GMT

AUDUSD has been sustaining a relatively neutral picture since mid-April with the price action confined to the upper limit of 0.7890, a two-and-a-half-month high, and a lower one at 0.7644. The largely directionless simple moving averages (SMAs) have failed to shield a more prevailing price direction resulting in the pair oscillating between these frontiers. The Bollinger bands are reflecting the shifts in volatility with constant squeezing of the price followed by bolstered price moves in both directions. Currently, the short-term [..]

Technical Analysis – USDJPY looks set to gain extra ground above Ichimoku cloud

Posted on June 14, 2021 at 2:17 pm GMT

USDJPY continues to exhibit a short-term neutral-to-bullish tone with buyers now pushing past the 109.84 immediate barrier. The 100- and 200-period simple moving averages (SMAs) are endorsing upside price action, while the 50-period SMA and the Ichimoku lines are not signalling any strong direction but may provide near-term footing to buyers. The technical oscillators are suggesting positive momentum is powering up. The MACD is improving above its red trigger and zero lines, while the rising RSI is growing in bullish [..]

Technical Analysis – US 500 index bit by bit resumes broader bullish bias

Posted on June 14, 2021 at 11:21 am GMT

The US 500 stock index (Cash) is poised to move higher after having registered a fresh all-time high of 4,257. The 50- and 100-period simple moving averages (SMAs) are regaining their positive incline, sponsoring strengthening sentiment in the index. The Ichimoku lines are endorsing positive price action, while the short-term oscillators’ bullish signals appear to be under strain. The MACD is holding above its static red trigger line, while the RSI is struggling to steer higher in bullish territory. Although [..]

Technical Analysis – EURUSD extends short-term bearish tendency to 50-SMA

Posted on June 14, 2021 at 8:38 am GMT

EURUSD could not close above the 20-day simple moving average (SMA) and the 1.2185 level despite last week’s attempt, with the price collapsing to meet support near the 50-day SMA at 1.2091 in the aftermath. Trend signals remain encouraging as the positive SMA crosses are still intact. Yet, as regards the price momentum, the technical indicators are raising a warning flag. The RSI has inched below its 50 neutral level, the MACD continues to decelerate below its red signal line, [..]

Technical Analysis – Gold dives in near term; bullish in medium-term

Posted on June 14, 2021 at 7:57 am GMT

Gold prices have been in a descending movement over the last couple of sessions, drifting below the 20-day simple moving average (SMA) and the 50.0% Fibonacci retracement level of the down leg from 2,074.89 to 1,676 at 1,875. Looking at the momentum indicators, the stochastic oscillator posted a bearish crossover within the %K and %D lines, while the RSI is diving into the negative territory. Moreover, the MACD is slipping beneath its trigger line, remaining in the positive region. In [..]

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