Technical Analysis / Page 432

Technical Analysis – GBPJPY feels the blues around supportive trendline

Posted on December 11, 2020 at 8:44 am GMT

GBPJPY caved in to selling pressure that held once again around the tough 140.30 ceiling, falling back to test the short-term ascending trendline within the 137.00 zone. Meanwhile, the RSI has already broken its own upward-sloping trendline and is set to violate its 50 neutral mark on the downside too as the Stochastics sail southwards and the MACD keeps decelerating below its red signal line. The above indicators signal that bearish forces may remain in play in the short run, though [..]

Technical Analysis – GBPUSD rebounds off 38.2% Fibonacci; some gains are expected

Posted on December 11, 2020 at 7:19 am GMT

Following an aggressive sell-off, GBPUSD found support at the 38.2% Fibonacci retracement level of the up leg from 1.2854 to 1.3538 at 1.3276and is currently posting some gains over the latest 4-hour sessions The price plummeted beneath the 20- and 40-period simple moving averages, while the momentum indicators are continuing to move in the negative territory. However, the RSI is trying to recover, while the MACD is flattening. More advances could send the price towards the 20-period simple moving average (SMA) at 1.3354 before touching the 23.6% [..]

Technical Analysis – USDCHF retains bearish outlook with commanding MAs

Posted on December 10, 2020 at 2:37 pm GMT

USDCHF is weighing down on the lower Bollinger band located at the more than 5½-year low of 0.8870. The diving simple moving averages (SMAs) and their dictating bearish tone may boost risks to the downside. However, the short-term oscillators are displaying a slight pickup in positive momentum, despite bigger negative pressures. In the bearish territory, the MACD’s climb above its red trigger line looks to be easing a bit, while the RSI is rising in the bearish zone. Furthermore, the [..]

Technical Analysis – EURJPY approaches 126.65 again; looks bullish

Posted on December 10, 2020 at 1:14 pm GMT

EURJPY had a bullish start on Thursday, with the price flirting with the upper surface of a short-term rectangle. The pair has also increased its distance above the Ichimoku cloud, indicating that the recent upward move might hold for longer. The momentum indicators are bullish as the RSI is holding in the positive territory and is strengthening. Also, the stochastic oscillator is heading north after the bullish cross within the %K and %D lines in the oversold zone. Should the price resume bullish momentum, the 126.65 top [..]

Technical Analysis – AUDUSD conveys further hikes; momentum favours upside

Posted on December 10, 2020 at 9:12 am GMT

AUDUSD is pushing up against the near 30-month high of 0.7483 as buyers look to extending the uptrend. Positive momentum is growing in the technical indicators and the rising simple moving averages (SMAs) are preserving the prevailing bullish picture. The short-term oscillators display improving momentum. The MACD, in the positive region, is holding above its static red signal line, while the RSI is flirting with the 70 level. Moreover, advances in price are being endorsed by the stochastic %K line, [..]

Technical Analysis – WTI futures ease near 9-month high; indicators suggest bearish move

Posted on December 10, 2020 at 7:44 am GMT

WTI futures recorded a rally last week towards a nine-month high of 46.76, though, the price is on the backfoot this week and the technical indicators suggest that the market could ease a little bit in the short-term. The RSI is currently increasing negative momentum towards its neutral threshold of 50 after a decline from overbought levels, while the MACD is slowing down in positive territory. Both are hinting that the next move in prices could be on the downside [..]

Technical Analysis – UK 100 index eases slightly but upside risks remain

Posted on December 9, 2020 at 4:16 pm GMT

The UK 100 index (Cash) seems to be fading from its newly formed nine-month high of 6,623 as positive momentum is losing steam. Nevertheless, the simple moving averages (SMAs) are maintaining their bullish tone, preserving the positive structure. That said, the short-term oscillators are suggesting a strengthening of the negative price action. The MACD, in the positive zone, is sliding underneath its red trigger line, while the RSI is falling in bullish territory. Moreover, the stochastic oscillator has adopted a [..]

Technical Analysis – GBPCHF weakens within sideways range

Posted on December 9, 2020 at 4:09 pm GMT

GBPCHF is facing downside pressure as it struggles to hold above the mid-Bollinger band around 1.1915. The pair has been stuck in a neutral phase since late March after it partially recovered from its all-time low of 1.1109. Further declines are likely in the short term as the RSI has dipped just below the 50 neutral level, while the MACD is slightly negative. However, the broader trend of the MACD is positive as it’s been steadily improving over the past [..]

Technical Analysis – EURGBP’s clear direction curbed as recent gains fade

Posted on December 9, 2020 at 1:16 pm GMT

EURGBP is receding beneath the 50-day simple moving average (SMA) at 0.9012, residing between the converging 100- and 200-day SMAs. The conflicting SMAs seem to be developing a somewhat sideways bearing, promoting the near-term directionless market. The opposing short-term oscillators echo the confusion in directional momentum. The negatively charged stochastic oscillator and the dipping RSI, barely above the 50 mark, are favouring moves to the downside. Yet, the MACD, which is holding above the zero line and its red trigger, [..]

Technical Analysis – EURAUD’s selling interest persists; still bearish

Posted on December 9, 2020 at 1:01 pm GMT

EURAUD has come under renewed selling pressure, falling back below the 23.6% Fibonacci retracement level of the down leg from 1.6826 to 1.6144 and the Ichimoku cloud. The technical indicators are endorsing the negative bias with the stochastic holding in the oversold territory and the MACD is losing momentum beneath its trigger and zero lines. Should prices decline, support could be found around the 1.6144 barrier, identified by the low on November 27. Then a step lower could challenge the [..]

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