Technical Analysis / Page 440

Technical Analysis – GBPJPY puts breaks on decline after trendline rejection

Posted on November 20, 2020 at 9:00 am GMT

GBPJPY drifted higher and above all its daily simple moving averages (SMA) on the back of encouraging vaccine news and Brexit hopes last week, though the support-turned-resistance ascending trendline was there once again to block the way above 140.00. The area around the blue Kijun-sen line managed to stabilize the downfall from the trendline around 137.33 and the price is currently trying to return above the 50% Fibonacci of the 142.69 – 133.00 downleg. In momentum indicators, the Stochastics favour [..]

Technical Analysis – GBPUSD bounces off 1.3200; bullish in short-term

Posted on November 20, 2020 at 8:02 am GMT

GBPUSD has gained little on Thursday and it managed to hold above the 20- and 40-period simple moving average (SMA), with the technical indicators feeding prospects for possible positive short-term trading; the RSI holds above 50, while the MACD continues to strengthen in bullish territory above its trigger line. A move higher could take the pair until the double top at 1.3310, a challenging point over the last week. Higher resistance could next be found around the 1.3475 barrier, [..]

Technical Analysis – USDCAD comes to a standstill as momentum fades

Posted on November 20, 2020 at 7:06 am GMT

USDCAD’s dictating bearish picture seems to be taking a breather after a bounce off a newly formed 10-month low of 1.2927. The slowing bearish pace of the 50- and 100-day simple moving averages (SMAs) and the flattening out in the 50-day SMA are assisting the stalled, negatively-skewed structure. The short-term oscillators currently display conflicting signals in directional momentum. The MACD, in the negative region, is above its red trigger line, while the stochastic oscillator maintains a negative bearing. That said, [..]

Technical Analysis – EURAUD challenges 23.6% Fibo near 1.6300

Posted on November 19, 2020 at 2:25 pm GMT

EURAUD is testing again the strong resistance around the 23.6% Fibonacci retracement level of the down leg from 1.6825 to 1.6143 at 1.6305, remaining at the same time inside the Ichimoku cloud. The MACD oscillator is flattening near the zero level, while the RSI, although above its 50 neutral mark, is currently pointing down. Immediate resistance could come from the 1.6305 barrier before the spotlight turns to the 1.6340 hurdle and the 1.6390 number. Higher, the price could hit the 38.2% Fibonacci mark of 1.6403 ahead of the 200-period [..]

Technical Analysis – EURJPY tumbles to 10-day low; further weakness expected

Posted on November 19, 2020 at 9:55 am GMT

EURJPY recorded an aggressive bearish movement towards a ten-day low of 122.83 earlier today, failing to increase above the 100-period simple moving average (SMA). The RSI is currently turning marginally up in the bearish region, while the MACD is losing more ground in the negative territory. However, the stochastic indicates that a rebound is not far off since the oscillators are close to oversold levels. Still, this is more likely to happen if the % K line finally forms a bullish cross with [..]

Technical Analysis – AUDUSD struggles at range’s ceiling; positive drive feeble

Posted on November 19, 2020 at 9:42 am GMT

AUDUSD is dwindling from the ceiling of the range at 0.7344, after recent positive price action thrusted over the simple moving averages (SMAs) and the Ichimoku cloud. The flattening demeanour of the 50-day SMA and the blue Kijun-sen line appears to be aiding the short-term horizontal trajectory, while the rising 100-day SMA and gradual upturn in the 200-day SMA are promoting additional gains. The short-term oscillators reflect anaemic momentum, endorsing the consolidation in the pair. The MACD, in the positive [..]

Technical Analysis – WTI crude oil stabilizes after vaccine boost

Posted on November 19, 2020 at 9:00 am GMT

WTI crude oil futures (December delivery) crawled above its 20- and 50-day simple moving averages (SMA) following the positive vaccine news, but the 61.8% Fibonacci of the 65.61 – 6.62 downleg appeared heavy to push once again at 43.08, with the price stabilizing around that level. The tiny thin candles posted the past few days mirror an indecisive market. Still, with the RSI attempting to regain strength above its 50 neutral mark and the MACD gradually rising within the positive [..]

Technical Analysis – EURUSD touches ascending line; positive in short-term

Posted on November 19, 2020 at 8:19 am GMT

EURUSD has been in an upside movement, despite the lower low at 1.1893 in the previous days from the two-and-a-half-month peak of 1.1920. The price went back to 1.1830 as buyers failed to really challenge the 1.1900 number this week, testing the ascending line, which stands near the 40-period simple moving average (SMA) and the 1.1830 support level. According to the technical indicators, the RSI is holding near the neutral threshold of 50 and is moving sideways, however, the stochastic posted a bullish crossover within [..]

Technical Analysis – JP 225 index holds bullish tone despite pullback from all-time high

Posted on November 18, 2020 at 2:54 pm GMT

Japan 225 stock index’s (Cash) positive bias is ebbing from the recently unlocked all-time peak of 26,204. Yet, the aggressive upwards development from the beginning of September, off the 100-day simple moving average (SMA) and the Ichimoku cloud’s upper surface, maintains its positive backing. Despite the stalling in the blue Kijun-sen line, the rising red Tenkan-sen line and the advancing 50- and 100-day SMAs are promoting improvements in price. The short-term oscillators have yet to confirm dwindling positive momentum. The [..]

Technical Analysis – USDTRY posts some gains after sharp sell-off

Posted on November 18, 2020 at 1:37 pm GMT

USDTRY has rebounded off the 7.6062 support level, which holds inside the Ichimoku cloud, after the aggressive sell-off from the record high of 8.5764. The RSI is confirming the slight upside retracement, however; the MACD is still extending its bearish movement below its trigger and zero lines. Also, the pair remains underneath the 20- and 50-day simple moving averages (SMAs) and any advances above these lines could open the way for more gains. Immediate resistance could come from the 50- and 20-day SMAs at 7.8520 and 8.0655, [..]

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