Technical Analysis / Page 442

Technical Analysis – EURGBP stuck within 0.8900 zone and descending channel

Posted on November 17, 2020 at 8:56 am GMT

EURGBP remains stuck between the 20- and 200-day exponential moving averages (EMA) and the 0.8900 territory following the rebound at the bottom of a tight descending channel last week. The momentum indicators reflect a bearish-to-neutral risk as the RSI continues to hover slightly below its 50 mark and the negative MACD is set to deviate above its red signal line. A decisive rally above the channel’s upper boundary currently seen at 0.9030 would be ideal to develop positive sentiment and push resistance [..]

Technical Analysis – AUDUSD tests upper Bollinger Band but upside momentum flimsy

Posted on November 16, 2020 at 2:44 pm GMT

AUDUSD’s recent positive development appears to be struggling around the upper Bollinger band, whilst heavy resistance threatens overhead. That said, the simple moving averages (SMAs) are commanding a strong bullish tone backing further advances in the price. The short-term oscillators are communicating conflicting signals in directional momentum. The MACD is improving above its trigger and zero lines, while the RSI is rising in bullish territory. However, the stochastic oscillator has posted a bearish shift, promoting a pullback in price. If [..]

Technical Analysis – US 500 index heads up towards spike of all-time high

Posted on November 16, 2020 at 11:30 am GMT

The US 500 index (cash) is approaching the spike that it posted on November 9, reaching a fresh all-time high of 3,674.11. As the price jumped above the 3,589 barrier, the expectation is a retest of the record peak before moving into uncharted paths. The upside rally could then pause at psychological levels such as 4,000 and 4,500. The technical indicators are currently endorsing the bullish outlook as the RSI is heading towards the overbought threshold, while the stochastic %K line turned up after [..]

Technical Analysis – EURUSD navigates north; range maintains stronghold

Posted on November 16, 2020 at 8:58 am GMT

EURUSD is piloting higher within a nine-week sideways market after having found some traction off the 50-day simple moving average (SMA). Despite the flattening 50-day SMA, which is endorsing the consolidating picture, the SMAs are sustaining their bullish demeanour, promoting more improvements in the pair. The short-term oscillators also transmit an increase in positive sentiment. The MACD is growing above its red trigger and zero lines, while the RSI is climbing in bullish territory. Furthermore, the stochastic oscillator encourages positive [..]

Technical Analysis – Gold lacks energy, trapped within a range

Posted on November 16, 2020 at 8:27 am GMT

Gold has barely recovered last week’s sharp downfall that drove the price towards September’s low of 1,848, lingering slightly below its 20- and 50-day simple moving averages (SMAs) and the Ichimoku cloud. The momentum indicators are currently painting a neutral-to-bearish picture for the short term as the RSI continues to lack direction and is marginally below its 50 neutral mark, while the MACD is also in a sideways move around its red signal line and within the negative area. A [..]

Technical Analysis – USDJPY eases below SMAs; negative in short- and long-terms

Posted on November 16, 2020 at 8:06 am GMT

USDJPY is heading south after the pullback on the 105.65 resistance on November 11, sending the pair beneath the 20- and 40-period simple moving averages (SMAs). The red Tenkan-sen line dropped below the blue Kijun-sen line, suggesting more losses, while the momentum indicators are currently confirm the bearish structure. The RSI is pointing down in the negative territory, while the MACD declined below the trigger and zero lines in the short-term. Immediate support could come from the lower surface of [..]

Technical Analysis – NZDUSD maintains bullish bias despite pullback

Posted on November 13, 2020 at 1:50 pm GMT

NZDUSD peaked at a 19½-month high of 0.6914 following a one-week ascent from 0.6612, before being pulled back below the mid-Bollinger band. The pair has found some footing at the upper part of a support base surrounding the lower Bollinger band. The upward sloping simple moving averages (SMAs) are sustaining a strong bullish bearing while momentum in the short-term oscillators appears to be picking up. The MACD, in the positive region, is decreasing below its red trigger line but its [..]

Technical Analysis – US 30 index returns lower after spike to record high

Posted on November 13, 2020 at 10:28 am GMT

The US 30 index posted an aggressive spike towards a fresh all-time high of 30,091.18 on Monday before returning near the previous high of 28,945. Momentum indicators in the daily chart are currently supporting that positive momentum is likely to strengthen in the short-term. Specifically, the RSI is picking up speed slightly below the overbought region and the MACD continues to distance itself above its trigger line. Should the price move higher again, the bulls could extend the uptrend towards the aforementioned record high before the price [..]

Technical Analysis – GBPUSD sets up for some recovery; key resistance area ahead

Posted on November 13, 2020 at 9:47 am GMT

GBPUSD has been developing an upward structure in the four-hour chart since the end of September, recently unlocking a two-month high of 1.3311 near a key upward-sloping line, which has been curbing both upside and downside corrections from April onwards. The price has decelerated thereafter but the 50-period simple moving average (SMA) managed to catch the fall around 1.3128 earlier this week, giving another chance to the bulls. With the Stochastics exiting the oversold area and the price having deviated [..]

Technical Analysis – GBPJPY directionless despite recent push over SMAs

Posted on November 13, 2020 at 9:38 am GMT

GBPJPY is resting on the upper surface of the Ichimoku cloud after topping at 140.28, just above the 140.00 mark, which happens to be the 76.4% Fibonacci retracement of the down leg from 144.94 to 124.00. The horizontal cloud and the conflicting signals from the converged simple moving averages (SMAs) further reflect an aimless market. The short-term oscillators are transmitting mixed clues in directional momentum. The MACD, in the positive region, is creeping higher above its red trigger line, while [..]

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