Technical Analysis / Page 441

Technical Analysis – Boeing’s stock enters bullish territory; neutral in medium term

Posted on November 18, 2020 at 12:23 pm GMT

Boeing’s stock price cheered on the back of encouraging vaccine news, jumping above the 200-day simple moving average (SMA) and the 200 level for the first time since June. The upside correction, however, was not strong enough to overcome June’s high of 233.86, keeping the stock within a neutral zone in the medium-term window. Still, the ascending MACD and the rising RSI, which has yet to reach a peak within the overbought territory, suggest that there is scope for more improvement in [..]

Technical Analysis – GBPJPY holds within squeezed Bollinger band; lacks direction

Posted on November 18, 2020 at 10:14 am GMT

GBPJPY has been moving in a horizontal trajectory over the last week, failing to improve the rebound on the 137.60 support level. The Bollinger band is squeezing, suggesting a neutral bias, and the momentum indicators are flattening. The MACD is holding near the zero level, while the RSI is standing around the 50 threshold. A successful climb above the 40-period simple moving average (SMA) at 138.50 could take the pair towards the 138.85 barrier. More gains could lead the bulls until [..]

Technical Analysis – USDJPY’s compass points south guided by 100-day SMA

Posted on November 18, 2020 at 8:48 am GMT

USDJPY is descending, having already logged four downward red candles in previous sessions, after retreating from the upper Bollinger band and 100-day simple moving average (SMA). The pair’s return underneath the 50-day SMA and the mid-Bollinger band are being endorsed by the dominant bearish tone of the SMAs and the restrictive trend line, drawn from the 111.71 top. The short-term oscillators are mirroring the negative price action, backing the bearish structure below the downward sloping trend line. The MACD, in [..]

Technical Analysis – Gold declines in a neutral picture in medium term

Posted on November 18, 2020 at 8:31 am GMT

Gold prices are in a declining mode after the selling move below the 1,900 psychological level on November 13. However, the technical indicators are suggesting an upside pullback in the short-term. The RSI is pointing up approaching the 50 level, while the stochastic created a bullish crossover within the %K and %D lines near the oversold zone. If the price ticks higher, immediate resistance could come from the 20-period simple moving average (SMA) at 1,887 ahead of the lower surface [..]

Technical Analysis – NZDUSD stretches uptrend to a 20-month high; tests key barrier

Posted on November 18, 2020 at 7:53 am GMT

NZDUSD bulls picked up steam to a 20-month high of 0.6917 following the close above 0.6760, where the frequently tested 61.8% Fibonacci retracement of the long 0.7557 – 0.5468 downleg is placed. The recent bullish action could fade in the short term as the price is currently challenging a key ceiling from 2019 and the RSI seems unable to post a fresh peak above its 70 overbought mark. The MACD also looks to be losing momentum within the positive area, [..]

Technical Analysis – EURCHF consolidates as aggressive ascent remains muted

Posted on November 17, 2020 at 4:31 pm GMT

EURCHF has been stuck for just over a week, creeping sideways following the slingshot off the 1.0679 level and over the simple moving averages (SMAs). The flattening Ichimoku lines are reflecting the stall in positive sentiment, while the soaring 50- and 100-period SMAs promote further advancing in the pair. The short-term oscillators communicate a period of paused positive momentum. The MACD and the RSI are presenting weak demeanours, with the former hovering below its red trigger line in the positive [..]

Technical Analysis – WTI Oil Futures cling on to bullish structure, for now

Posted on November 17, 2020 at 4:07 pm GMT

WTI Oil Futures remain in a downward pattern following the retreat from last week’s 2½-month top of 43.04. The price is battling to avoid a dip inside the Ichimoku cloud. But given the mixed picture portrayed by the momentum indicators, a slip into the cloud is very likely in the next few hours, which would confirm a shift in the bullish short- to-medium-term outlook to a neutral one. The negatively aligned stochastics continue to trend downwards and although the RSI [..]

Technical Analysis – USDCAD slips into neutral shoes as bearish pace stalls

Posted on November 17, 2020 at 2:22 pm GMT

USDCAD seems to be adopting a neutral structure after finding a foothold on the falling 50-day simple moving average (SMA) at 1.3063, following its recent pullback from the longer-term SMAs. The price is currently pushing up against the mid-Bollinger band at 1.3109, while all SMAs maintain their bearish tone. The short-term oscillators at the moment convey mixed signals in directional momentum. The MACD is presently located at the zero mark, after falling below its trigger line in the positive section. [..]

Technical Analysis – EURJPY sinks in descending channel in short-term

Posted on November 17, 2020 at 1:55 pm GMT

EURJPY has been declining in a descending channel over the last one-and-a-half-month, touching the 40-period simple moving average (SMA). The RSI indicator is heading south in the positive area, while the MACD is flattening near the trigger line in the short-term. Should prices continue to fall, immediate support could come from the 20-period SMA at 123.30 ahead of the 38.2% Fibonacci retracement level of the up leg from 114.40 to 127.10 at 122.21. A drop below this area could take [..]

Technical Analysis – GBPUSD regains optimism above Ichimoku cloud

Posted on November 17, 2020 at 9:29 am GMT

GBPUSD’s positive response appears to be strengthening as the pair is stepping higher from the minor pullback towards the Ichimoku cloud. The bounce on November 2 off the 100-day simple moving average (SMA) brightened the bias as it drove the price over the cloud, keeping bullish hopes alive. The rising red Tenkan-sen line conveys increasing momentum, while the MACD and the stochastic oscillator reflect a rise in sentiment. The MACD, in the positive area, is developing above its red trigger [..]

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