Technical Analysis / Page 419

Technical Analysis – EURJPY tries to jump higher after steep negative sessions

Posted on January 19, 2021 at 7:47 am GMT

EURJPY tumbled for the seventh day in a row on Monday, recording a seven-week low around the 125.15 support level. However, today, it started the day in the green, recouping some of its losses from the preceding sessions. The upside moves drove the pair near the 40-day simple moving average (SMA) and any advances above this level could repeat the bullish move in the short-term. Technically, the RSI is returning up with strong momentum, remaining below its neutral threshold of 50, while the MACD oscillator is [..]

Technical Analysis – US 500 index fades from recent all-time high of 3,831

Posted on January 18, 2021 at 12:49 pm GMT

The US 500 index (Cash) is finding a foothold in the Ichimoku cloud, on the 100-period simple moving average (SMA) at 3,756, after the index receded from its latest all-time high of 3,831 under the 50-period SMA. All climbing SMAs are endorsing the positive picture, while the Ichimoku lines, with the dipping red Tenkan-sen line, are promoting the pullback in price. The short-term oscillators are proposing a tad increase in positive momentum. The MACD is flattening below its red signal [..]

Technical Analysis – USDJPY remains under pressure; maintains short-term bearish bias

Posted on January 18, 2021 at 11:08 am GMT

USDJPY remains under pressure and risk is still to the downside as prices continue to drift lower from the 140.00 psychological level and are hovering around the 38.2% Fibonacci retracement level of the down leg from 105.65 to 102.60 at 103.77. The short-term technical indicators are pointing to more weakness in the market. Looking at the 4-hour chart, the price is looking capped by the 20 and 40-period simple moving averages (SMAs), while the MACD and the RSI are flattening [..]

Technical Analysis – AUDUSD ranges somewhat; uptrend under some strain

Posted on January 18, 2021 at 9:41 am GMT

AUDUSD has dipped below the 100-period simple moving average (SMA) and appears to be testing the lower boundary of a minor consolidation pattern at 0.7666. The directionless Ichimoku lines and the slightly slowed upward pace of the 50-period SMA are feeding the sideways direction in the pair. That said the steadily climbing 100- and 200-period SMAs are bolstering the positive structure. However, the short-term oscillators are leaning towards the downside, nurturing additional negative price action. The MACD, is declining further [..]

Technical Analysis – EURUSD aims to halt decline as bears hold near-term edge

Posted on January 18, 2021 at 8:46 am GMT

EURUSD started the week in a neutral tone, consolidating last week’s losses around the 50-day simple moving average (SMA), which happens to be near a key restrictive line and the 38.2% Fibonacci retracement of the 1.1600 – 1.2348 upleg, at 1.2063. While this could be an ideal place for a rebound, the momentum indicators continue to provide conflicting signals in favor of the bears. The MACD, comfortably below its red signal line, is converging towards the zero line, while the [..]

Technical Analysis – Gold is capped by 200-day SMA; holds in descending channel

Posted on January 18, 2021 at 8:01 am GMT

Gold prices are posting some gains, touching the 200-day simple moving average (SMA), which is acting as strong resistance in the short-term. In the broader picture, the price has been holding in a descending channel since the pullback from the record high of 2,074.89 on August 7. In terms of trend indicators, the Ichimoku lines are heading south alongside the 20- and 40-day SMAs. However, the %K line of the stochastic oscillator is posting a bullish crossover within the %D [..]

Technical Analysis – NZDUSD uptrend under negative pressure

Posted on January 15, 2021 at 1:23 pm GMT

NZDUSD has retreated from the recent 32½-month high of 0.7314 and is consolidating around the gradually rising 100-period simple moving average (SMA), which for the last week has curbed further deterioration under the 0.7152 trough. The steady upwards creeping 100- and 200-period SMAs are favouring advances and are trying to protect the positive picture. However, the short-term oscillators and the slowing upward pace in the flattening 50-period SMA are promoting a pickup in negative price action. The MACD, below the [..]

Technical Analysis – US 30 stock index looks for a make-or-break point

Posted on January 15, 2021 at 11:11 am GMT

The US 30 index (cash) is nosing around for fresh bullish traction near the four-month old restrictive line at 30,800 after topping twice around its new record high of 32,252. A clear close below that floor, where the surface of the Ichimoku cloud in the four-hour chart is also placed, would complete a bearish double top formation (more evident in the one-hour chart), likely triggering another negative extension towards the 100-period simple moving average (SMA) and the bottom of the [..]

Technical Analysis – EURGBP meets crucial support band after six negative days

Posted on January 15, 2021 at 8:35 am GMT

EURGBP is trying to balance its weekly negative charge near a familiar support zone of 0.8865 and at the bottom of its seven-month old range following the pullback below its exponential moving averages (EMAs). Given former upside reversals in the region, which coincides with the 50% Fibonacci retracement of February’s rally, and the Stochastics’ bullish cross in the oversold area, a rebound in the price could be a likely scenario in the short run. Note that the market action has been [..]

Technical Analysis – USDCAD holds under SMAs unable to break bearish shackles

Posted on January 15, 2021 at 8:30 am GMT

USDCAD is pushing off multi-year lows but seems to be incapable of shaking off the bearish tone which has grasped the pair for nearly a year, starting back in March 2020. The Ichimoku line’s negative tempo has somewhat eased, while the diving simple moving averages (SMAs) are dictating the bearish picture. Taking a glimpse at the short-term oscillators, we can observe a slight stalling in downwards momentum. The MACD, in the negative region, is resting on its red trigger line, [..]

Legal disclaimer: The material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instruments. XM accepts no responsibility for any use that may be made of these comments and for any consequences resulting in it. No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. The research and analysis does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it.

It has not been prepared in accordance with legal requirements designed to promote the independence of research, and as such it is considered to be marketing communication. Although we are not specifically constrained from dealing ahead of the publication of our research, we do not seek to take advantage of it before we provide it to our clients. We aim to establish, maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. We operate a policy of independence, which requires our employees to act in our clients’ best interests and to disregard any conflicts of interest in providing our services.

CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losing all of your invested capital, so please make sure that you fully understand the risks involved.

Technical Analysis

XM Live Chat