Technical Analysis / Page 393

Technical Analysis – EURJPY contests uptrend line; bullish bias secure

Posted on March 30, 2021 at 8:45 am GMT

EURJPY’s recent pullback from a 29-month high of 130.66 has been countered by a rebound off the uptrend line, pulled from the 121.61 trough. The bullish simple moving averages (SMAs) are defending the positive structure, while the bounce off the uptrend line appears to have provided the climb with fresh footing. The rising blue Kijun-sen line is also backing the ascent in spite of the dipping red Tenkan-sen line. The short-term oscillators are indicating that the pair may be regaining [..]

Technical Analysis – GBPUSD erases upside rally in short-term

Posted on March 30, 2021 at 7:25 am GMT

GBPUSD is falling following the pullback off the 35-month high of 1.4235 and is hovering beneath the bearish crossover within the 20- and 40-day simple moving averages (SMAs). The technical indicators are showing mixed signals as the RSI is pointing down in the negative area, while the stochastic is heading north. The downside move could take the price towards the long-term ascending trend line and the 23.6% Fibonacci retracement level of the upward wave from 1.1405 to 1.4235 at 1.3570. [..]

Technical Analysis – Gold tiptoes sideways as positive impetus fades

Posted on March 29, 2021 at 8:44 am GMT

Gold is currently edging sideways after its recent bounce off the critical support base of 1,660-1,682, where it produced a nine-month low of 1,676. The falling 50- and 100-day simple moving averages (SMAs) are safeguarding the short-term bearish picture and weighing on the commodities price. The flattening Ichimoku lines are suggesting positive momentum has dwindled and are promoting a minor directionless price phase. The short-term oscillators are slightly favouring the downside, as they are indicating that positive sentiment has become [..]

Technical Analysis – Silver signals bearish shift, but 200-day SMA provides defense

Posted on March 29, 2021 at 7:57 am GMT

Silver is signalling a bearish reversal following the pullback near the 20-day simple moving average (SMA) and more importantly, the close below the ascending trendline that stretches from May 2020. The 200-day SMA, however, came immediately to the rescue and it could be the last opportunity for a rebound at 24.65 before the door opens for the 22.50 – 21.90 support region. The former resistance area around 20.70 could also adopt a restrictive role if the decline sharpens. The momentum indicators are [..]

Technical Analysis – EURUSD retains bearish tendency below 1.1800

Posted on March 29, 2021 at 7:54 am GMT

EURUSD sharpened its downside move after dropping out of the long-term ascending channel and the 1.1800 level. The RSI is still pointing down below the 50 level, however, the stochastic oscillator is signaling an oversold market as it is turning higher in the negative territory. Meanwhile, the 20-day simple moving average (SMA) has bearishly crossed the longer-term SMAs and is heading south, providing negative trend signals for the market. Additional downside movements could take the price until the nearby support of 1.1745, and then [..]

Technical Analysis – USDCHF spikes to 0.9417 but struggles to beat 123.6% Fibonacci extension

Posted on March 26, 2021 at 2:35 pm GMT

USDCHF is tackling the 0.9414 level, which happens to be the 123.6% Fibonacci extension of the down leg from 0.9375 to 0.9213. The soaring simple moving averages (SMAs) are nurturing the positive structure, while the Ichimoku lines are reflecting a minor pausing in bullish sentiment. However, the short-term oscillators are transmitting mixed signals in directional momentum. The MACD, in the positive region, is holding above its slowing red trigger line, while the downward-pointing RSI, is persisting above the 70 level. [..]

Technical Analysis – US 30 index’s gains curbed by 32,800 mark and Ichimoku cloud

Posted on March 26, 2021 at 1:16 pm GMT

The US 30 stock index’s (Cash) recently found foothold at the 32,068 level has elevated its price into the vicinity of the 50-period simple moving average (SMA). In spite of this, instantly limiting additional price gains is the 32,800 barrier coupled with the cloud’s upper frontier. Regardless of the faded incline in the 50-period SMA – reflecting a slight setback in the up move – the rising 100- and 200-period SMAs are preserving the positive picture. The short-term oscillators are [..]

Technical Analysis – GBPUSD rises after finding support at 7-week low

Posted on March 26, 2021 at 10:24 am GMT

GBPUSD has recorded a stunning rally since yesterday, finding support at the seven-week low of 1.3670. The price advanced above the 20-period simple moving average (SMA) in the 4-hour chart, with the RSI currently increasing positive momentum above the 50 level. The MACD is approaching the zero level, holding above the trigger line. If the pair continues the bounce up, immediate resistance could be met at the 23.6% Fibonacci retracement level of the down leg from 1.4235 to 1.3670 at [..]

Technical Analysis – NZDUSD’s bearish risks grow as foothold appears feeble

Posted on March 26, 2021 at 9:32 am GMT

NZDUSD is echoing a dominating bearish tone as the vital resistance section of 0.6992-0.7010 (previous support-now-resistance) is curbing efforts of a greater positive pullback off 0.6942, which reflects a four-month low. The pair is now consolidating in the vicinity of the red Tenkan-sen line, while the falling simple moving averages (SMAs) are feeding the negative picture. The flattening blue Kijun-sen line is reflecting the pause in the downwards price move, while the short-term oscillators are conveying mixed signals in directional [..]

Technical Analysis – USDCAD in battle with long-term resistance trendline

Posted on March 26, 2021 at 8:26 am GMT

USDCAD is set to close with moderate gains for the second consecutive week, though questions are being raised about whether the latest upside correction can see a further continuation in the coming sessions as the pair is currently battling with the one-year-old resistance trendline. Not far above, the 50-day simple moving average (SMA) and the lower boundary of the Ichimoku cloud could enhance that wall as they did early this month. Although the RSI and the MACD have shown some [..]

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