Technical Analysis / Page 382

Technical Analysis – EURGBP crawls towards 0.8700, clinging to a hike

Posted on April 28, 2021 at 7:59 am GMT

EURGBP has reversed back to the upper surface of the Ichimoku cloud around 0.8730. Positive sentiment appears revived after the bounce off the supportive 13-month low of 0.8470. Further backing this short-term view are the upward slopes of the 20- and 40-day simple moving averages (SMAs). However, for now the technical oscillators reflect contradicting signals. The RSI, in the positive area, remains flat in bullish territory. That said, stochastic %K line, which has deflected off the 80 level and completed [..]

Technical Analysis – NZDUSD bulls lose energy as key barriers arise

Posted on April 28, 2021 at 7:29 am GMT

NZDUSD has been struggling to surpass the wall composed by the squeezed Ichimoku cloud and the 23.6% Fibonacci of the 0.6510 – 0.7463 up leg at 0.7238 over the past week. The short-term bias remains tilted to the upside, though it is currently looking anemic as the RSI is ranging above its 50 neutral mark, while the MACD is rising at a slower pace within the positive area. Slightly above the 0.7238 resistance, the broken supportive trendline seen around 0.7300 could be [..]

Technical Analysis – Gold eases in Ichimoku cloud; broader outlook is bullish

Posted on April 28, 2021 at 6:41 am GMT

Gold prices have been slipping over the last session in the 4-hour chart, meeting the 23.6% Fibonacci retracement level of the upward wave from 1,678 to 1,798 at 1,769. The price is capped by the short-term simple moving averages (SMAs), holding in the Ichimoku cloud, while the RSI is falling in the negative territory. However, the stochastic is trying to turn slightly higher in the oversold zone. If the selling interest persists and the 23.6% Fibonacci proves easy to overcome, [..]

Technical Analysis – US 500 index edges sideways; uptrend still intact

Posted on April 28, 2021 at 6:15 am GMT

The US 500 stock index (Cash) is consolidating just beneath its fresh all-time high of 4,198 by sustaining some footing off the mid-Bollinger band around 4,173. Positive momentum is present after sellers failed on two occasions to overturn the bullish bias by steering beneath the 50-period simple moving average (SMA). However, currently, the necessary impetus to steer the index higher is frail. The bullish SMAs are defending the ascent, while the short-term oscillators are conveying mixed signals in directional momentum. [..]

Technical Analysis – Facebook fades from all-time high but maintains a positive tone

Posted on April 27, 2021 at 1:59 pm GMT

Facebook’s stock price is struggling to push over the mid-Bollinger band around 303.10 after the stock’s retracement found some footing in the vicinity of the 50-period simple moving average (SMA). The bullish SMAs are defending the latest uptrend; however, the short-term oscillators are suggesting bullish sentiment is fighting to regain an advantage. The MACD is ever so slightly in bearish territory and is trying to return back above its red trigger and zero lines, while the RSI is improving after [..]

Technical Analysis – GBPUSD stagnant around 50-day SMA; optimism lingers

Posted on April 27, 2021 at 8:38 am GMT

GBPUSD is flirting with the 1.3869 level, which happens to be the 23.6% Fibonacci retracement of the up leg from 1.2674 until the 34-month high of 1.4236, after the price pullback found some footing off the 100-day simple moving average (SMA). The bullish SMAs are shielding the positive structure, while the slowed incline of the 50-day SMA is endorsing a more neutral-to-bullish tone. The conflicting signals in sentiment in the short-term oscillators are indicating a phase of weak directional momentum. [..]

Technical Analysis – Google stock continues the bullish tendency around new highs

Posted on April 27, 2021 at 8:21 am GMT

Google (Alphabet) stock price has been in an ascending tendency since March 2020, creating a multi-year high of 2,339.72 on Monday. The positive slope in the RSI, which runs comfortably above its 70 overbought mark, is painting a rosy picture for the short-term. However, with the MACD oscillator flattening near its trigger line in the positive territory, it is reasonable to believe that the rally may appear short-lived. The 2,315 number is the nearest resistance that could reject any attempt higher. [..]

Technical Analysis – EURJPY foreshadows more volatility; bias positive

Posted on April 27, 2021 at 7:37 am GMT

EURJPY changed course near the strong ascending trendline once again, reversing northwards to re-challenge its recent peaks. The squeezing Bollinger bands are flagging that volatility is currently at low levels, but a significant advance or decline could develop in the subsequent sessions. Whether the next action could be up or down, the momentum indicators continue to favor upside movements as the RSI is sloping upwards above its 50 neutral mark, the Stochastics is also strengthening towards the overbought territory, and the MACD, [..]

Technical Analysis – USDCAD bounces off 5-week low below 1.2400

Posted on April 27, 2021 at 6:42 am GMT

USDCAD held in losses on Monday, dropping to a five-week low of 1.2383 before turning higher around the 1.2400 handle. The RSI in the four-hour chart is missing direction in the bearish area, while the red Tenkan-sen keeps falling below the blue Kijun-sen line, increasing chances for a meaningful negative bias in the short-term trading. However, the stochastic oscillator posted a bullish crossover within the %K and %D lines in the oversold territory, suggesting an upside correction. Should the price close comfortably above the 1.2400 [..]

Technical Analysis – AUDUSD maintains green glow; bulls remain in control

Posted on April 26, 2021 at 3:30 pm GMT

AUDUSD came just shy of the 0.7815 high achieved on April 20, after the pair found positive traction within the support zone of 0.7676-0.7700. The climbing 50- and 100-period simple moving averages (SMAs) on the four-hour chart are endorsing the price gains from the 0.7584 trough. Furthermore, the recent completion of a bullish crossover of the 200-period SMA by the 100-period one, may fuel additional improvements in the pair. The rising red Tenkan-sen line is reflecting the pickup in momentum and [..]

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