Technical Analysis / Page 409

Technical Analysis – EURUSD rises above 1.21; still holds in upward channel

Posted on February 15, 2021 at 7:53 am GMT

EURUSD is travelling in the Ichimoku cloud, following the rebound off the 100-day simple moving average (SMA) in the previous week. The pair has been still moving within an upward sloping channel since June 2020. Technically, the RSI is moving horizontally marginally above the 50 level, while the stochastic is pointing up in the overbought zone, despite the bearish crossover within the %K and %D lines. The price is hovering between the 20- and 40-day simple moving averages (SMAs) and [..]

Technical Analysis – NZDUSD remains neutral-to-bullish but slips below 200-MA

Posted on February 12, 2021 at 3:17 pm GMT

NZDUSD has taken another hit, fading below the clogged simple moving averages (SMAs) around the 0.7200 mark. The unclear Ichimoku lines are hampering further gains in the pair, while the rising SMAs are defending the upside picture. The short-term oscillators are suggesting negative momentum may be shifting to positive. The MACD is below its red trigger line residing around its neutral mark, while the RSI is pointing upwards in the bearish territory. The stochastic oscillator is currently oversold but the [..]

Technical Analysis – USDTRY converges to key 7.000 mark after four months

Posted on February 12, 2021 at 1:08 pm GMT

USDTRY has fully scrapped August’s rally, meeting the crucial psychological number of 7.000 on Friday after four months on hopes of bringing an end to the ongoing sell-off. Trend signals have worsened following the bearish cross between the 20- and 200-day simple moving averages (SMAs), while the narrowing distance between the 50- and 200-day SMAs could further enhance the odds of trend deterioration if the lines bearishly intersect each other in the next sessions. The RSI and the MACD, however, have been [..]

Technical Analysis – GBPUSD’s bullish picture not threatened by pullback

Posted on February 12, 2021 at 9:32 am GMT

GBPUSD is retreating from its fresh 33½-month high of 1.3865 but the move is looking unconvincing in denting the bullish tone above the tentative trend line, drawn from the 1.2854 low. The red Tenkan-sen line is conveying a drop in upside momentum, while the stalling blue Kijun-sen line is protecting the positively skewed picture. Furthermore, the predominantly bullish simple moving averages (SMAs) appear unintimidated by the withdrawal in the price. The short-term oscillators are reflecting persisting negative momentum. The MACD, [..]

Technical Analysis – USDCAD erases weekly losses between key boundaries

Posted on February 12, 2021 at 8:38 am GMT

USDCAD neutralized its latest downside correction around the former key support region of 1.2687, with the price currently aiming to erase some of its weekly losses. The momentum indicators are providing little initiative for proper progress as the RSI and the MACD keep hovering around their neutral thresholds. Yet, some optimism remains intact as long as these oscillators move along an ascending trendline. The bottom line of the Ichimoku cloud, which cancelled the upturn from a 33-month low last week, [..]

Technical Analysis – US 30 index consolidates around all-time high

Posted on February 11, 2021 at 3:46 pm GMT

The US 30 stock index (Cash) has stalled around its all-time high of 31,543 after its latest impressive rally from the 29,659 trough. The flattening Ichimoku lines are reflecting the stalling in the ascent, while the soaring 50-period simple moving average (SMA) and its recent bullish crossovers of the climbing 100- and 200-period SMAs is promoting additional price gains into uncharted waters. The short-term oscillators are reflecting mixed signals in directional momentum. The MACD, in the positive region, is weakening [..]

Technical Analysis – Could Zoom stock resume its rally during the vaccination campaign?

Posted on February 11, 2021 at 3:27 pm GMT

Zoom video’s stock seemed poised to start a downtrend after finalizing a bearish head and shoulder pattern below the neckline and the 380.00 level at the end of December. The bearish cycle, however, did not last long, and the price is currently set to dismiss the negative trend warning, recouping its lost ground above that line. A close above the Ichimoku cloud and the 440.00 number, which is slightly above the 38.2% Fibonacci mark of the October downfall, could raise buying interest, [..]

Technical Analysis – Disney takes a breather near record highs ahead of earnings

Posted on February 11, 2021 at 3:20 pm GMT

Disney’s stock is taking a break around its fresh record high of 190.50 in the four-hour chart, waiting for the next impetus to drive its almost one-year-old rally to uncharted waters ahead of its earnings release. The RSI and the fast Stochastics warn that a downside correction could be reasonable as the indicators have exited the overbought territory. However, with the price trading comfortably above its simple moving averages (SMA) and the Ichimoku cloud, a freefall below 183.30 and beneath [..]

Technical Analysis – EURUSD opens key border, but has one more obstacle to clear

Posted on February 11, 2021 at 11:27 am GMT

EURUSD had a quick recovery from a one-month low of 1.1951 this week, crossing all its simple moving averages (SMA) in the four-hour chart to peak slightly above the key restrictive line from August. The surface of the Ichimoku cloud had been rejecting previous bullish attempts since the end of January, but the bulls managed to breach that bar recently, opening the door for further improvement. On the other hand, the negative charge in the RSI and the MACD warrants [..]

Technical Analysis – EURJPY fairly paused, preserves a positive tone

Posted on February 11, 2021 at 9:01 am GMT

EURJPY is edging sideways within a squeezed consolidation of 126.08-127.33 that has formed within the confines of a larger range of 125.08-127.49. The Ichimoku lines are exhibiting a directionless demeanour and are not conveying any clear signals in directional momentum. Nonetheless, the pair is sustaining its near-term improving tone above the minor tentative trend line pulled from the 125.08 trough, despite the slowed upward pace of the 50- and 200-period SMAs. The short-term oscillators are transmitting mixed signals in momentum. [..]

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