Technical Analysis / Page 394

Technical Analysis – GBPJPY climbs up within SMAs; bullish in long-term

Posted on March 26, 2021 at 8:10 am GMT

GBPJPY is edging higher again after the rebound off the 40-day simple moving average (SMA) and is approaching the 20-day SMA, which is acting as strong resistance around 150.60. The momentum indicators are confirming the recent bullish movement. The MACD is holding below the trigger line but it looks ready to tick up, while the stochastic posted a bullish crossover in the oversold territory and the RSI is jumping above the neutral-threshold of 50. A successful attempt above the 20-day [..]

Technical Analysis – AUDUSD slumps to 7-week low but could be bottoming out

Posted on March 25, 2021 at 6:24 am GMT

AUDUSD slid to a 7-week low of 0.7582 on Wednesday and has since been struggling to reclaim the 0.76 level. The momentum indicators are displaying mixed messages. The RSI has flatlined below the 50 level, suggesting the selling pressure is easing. But the stochastics are still pointing down; although being so deep in negative territory, it may only be a matter of time before they reverse higher. The pair is attempting to make a positive turn today and should the [..]

Technical Analysis – EURGBP range-bound; bulls challenge 200-MA

Posted on March 24, 2021 at 4:25 pm GMT

EURGBP is hovering below the capping 200-period simple moving average (SMA) on the four-hour chart after its recent attempts to overcome the long-term average were unsuccessful. The flattening Ichimoku lines are suggesting that positive momentum is waning. However, a nearing bullish crossover of the 100-period SMA by the rising 50-period one could provide the necessary boost for the pair to surpass the curbing obstacle. The short-term oscillators are conveying conflicting signals in directional momentum. The MACD, far above the zero [..]

Technical Analysis – JP 225 index halts sell-off near near previous low

Posted on March 24, 2021 at 4:10 pm GMT

Japan’s 225 stock index (cash) survived a broader outlook deterioration this week after halting its recent sell-off where it had bottomed on March 5. The price dip below the lower Bollinger band on the four-hour chart and the upside reversal in the RSI, which has overcome the 30 oversold level, indicate that the sell-off is overstretched and it’s time for some recovery. In the event the current upside correction continues, the restrictive line stretched from the peak of 30,711 may [..]

Technical Analysis – EURUSD slips to 4-month low near 1.18

Posted on March 24, 2021 at 3:50 pm GMT

EURUSD is creating several sessions of losses in the 4-hour chart, recording a fresh four-month low marginally above the 1.1800 handle earlier today. The price started a strong negative movement after the pullback on the double top level of 1.1990, reached earlier in March. The technical indicators are endorsing the bearish momentum with the RSI heading towards the oversold level and the MACD strengthening its movement beneath its trigger and zero lines. In trend indicators, the 20- and 40-period simple [..]

Technical Analysis – Gold edges sideways as momentum paralyzes

Posted on March 24, 2021 at 2:19 pm GMT

Gold has adopted a horizontal trajectory around its directionless 50- and 100-period simple moving averages (SMAs). The Ichimoku lines are also conveying the commodity’s inert demeanour and are demonstrating that directional momentum has dried up. The short-term oscillators are transmitting conflicting signals in price sentiment. The MACD has barely slid beneath its red trigger line, which has fused with the zero threshold, while the positively charged stochastic oscillator is promoting improvements in the price. The RSI is currently tackling its [..]

Technical Analysis – US Dollar index finds ceiling around 200-day SMA

Posted on March 24, 2021 at 9:57 am GMT

The US dollar index is moving towards the 200-day simple moving average (SMAs) and the 23.6% Fibonacci retracement level of the down leg from 103.82 to 89.14 at 92.60. The 50- and 100-day SMAs are ready for a bullish crossover, confirming the rebound off the 33-month low of 89.14. Technically, the stochastic oscillator is approaching the overbought territory, while the MACD is trying to overcome the trigger line in the positive region. If there is a successful climb above the [..]

Technical Analysis – GBPJPY corrects below 200-MA; bearish risks grow

Posted on March 24, 2021 at 8:52 am GMT

GBPJPY has dipped below the 200-period simple moving average (SMA) at 148.82 and is putting strain on the three-month uptrend, which started in December, pushing off the level of 139.50. The defence of the bullish structure has been compromised, something also being conveyed by the slowing of the 100-period SMA’s incline and the downward directing 50-period SMA. The diving Ichimoku lines are validating the pair’s aggressive negative sentiment, something also demonstrated in the short-term oscillators. The MACD, deep in the [..]

Technical Analysis – NZDUSD turns red below 0.7100

Posted on March 24, 2021 at 8:44 am GMT

NZDUSD was sold aggressively on Tuesday after failing to climb above the 20-day simple moving average and breaking below the 0.7100 psychological level. The momentum indicators are confirming the recent negative price action. The RSI is heading towards the 30 level, while the MACD is strengthening its bearish move below its trigger and zero lines. The price is currently flirting with the 23.6% Fibonacci retracement level of the upward wave from 0.5470 to 0.7463 at 0.6995. A continuation of the drop below this line could [..]

Technical Analysis – USDJPY attempts to avoid sharp decline below 108.30

Posted on March 24, 2021 at 7:08 am GMT

USDJPY’s rally faltered around 109.35, with the price reversing lower to seek support near the 20-day simple moving average (SMA) and the upper boundary of the broken bullish channel at 108.44. The momentum indicators warrant some caution as the RSI has peaked in the overbought area and is drifting towards its 50 neutral level, while the MACD is decelerating below its red signal line. Sellers may wait for a decisive close inside the channel and particularly below the 20-day SMA [..]

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