Technical Analysis / Page 443

Technical Analysis – USDCAD shows chances for gains above falling trend line

Posted on November 13, 2020 at 7:56 am GMT

USDCAD is touching the falling trend line, which has been developing since April 21, despite the break to the upside at the end of October. The price is also flirting with the 20-day simple moving average (SMA) and the momentum indicators are confirming the upside bias. The RSI is heading towards the positive region, while the stochastic is approaching the overbought area. An extension above the descending line could find immediate resistance at the 40-day SMA and the lower surface [..]

Technical Analysis – USDCHF range bound; directional momentum lost

Posted on November 12, 2020 at 3:44 pm GMT

USDCHF is currently stuck between the 50- and 100-day simple moving averages (SMAs) after paring last week’s losses, which pushed the price towards a fresh 69-month low of 0.8981. The price’s consolidating demeanour is endorsed by the flattening 50-day SMA, while the downward sloping 100- and 200-day SMAs are commanding a bearish bias. The short-term oscillators reflect weak sentiment despite the latest improvement in price. The MACD, marginally above its red signal line, has merely popped over the zero threshold, [..]

Technical Analysis – WTI futures consolidate; resistance ceiling dominates

Posted on November 12, 2020 at 9:00 am GMT

WTI oil futures appear to have returned to the vicinity of the controlling resistance levels of 43.69 and 43.76, which have together been suppressing advances for 4 months now. The commodity’s return above the simple moving averages (SMAs), from the 33.63 low, deflected off the upper Bollinger band at 43.04, just shy of the curbing level. The short-term oscillators are tilting ever so slightly towards the positive picture. The MACD above its red trigger line has narrowly pierced above its [..]

Technical Analysis – AUDUSD hovers above 0.7250; lacks direction in short term

Posted on November 12, 2020 at 8:32 am GMT

AUDUSD seems to be range bound, something also reflected in the flattening out of the slopes of the 20- and 40-day simple moving averages (SMAs), though, the price climbed above 0.7250 in the previous daily sessions. The directionless Ichimoku lines and the steadied cloud further reflect this view. That said, the short-term oscillators, although somewhat stalled, still lean towards a slightly positive picture. The MACD, in the positive region, is holding above its trigger line, while the RSI hovers in bullish territory. [..]

Technical Analysis – UK 100 index bulls get a wake-up call; positive but overbought

Posted on November 11, 2020 at 4:41 pm GMT

The UK 100 stock index (cash) flew above the 200-day simple moving average (SMA) for the first time since February and closer to June’s high of 6,513, recording its second notable weekly gain and its biggest monthly increase in several years. The market is in overbought territory according to the RSI and the Stochastics, though the indicators have yet to set a downward shift, hinting that there is still some bullish steam in store. If that is the case, the [..]

Technical Analysis – GBPJPY recedes below 140.00; positive picture unbroken

Posted on November 11, 2020 at 3:29 pm GMT

GBPJPY is pulling back slightly from a two-month high of 140.28, following its latest surge upwards off the 136.00 mark. The rising simple moving averages (SMAs) and the recently completed bullish crossover by the 50-period SMA may reinforce the stalling ascent. Moreover, the strong positive tone of the climbing Ichimoku lines is further aiding this view. At the moment the short-term oscillators reflect some fading in positive momentum, suggesting a retracement may unfold before the climb resumes. The MACD, which [..]

Technical Analysis – NZDUSD advances past critical 0.6800 mark; picture bullish

Posted on November 11, 2020 at 11:13 am GMT

NZDUSD’s newfound strength off the 100-day simple moving average (SMA) has prodded the pair above the tough 0.6800 boundary, resulting in a 19½-month high of 0.6903 being realized. The gradual incline of the 100-day SMA and the upturn in the 200-day SMA, in addition to the bullish tone of the Ichimoku lines, endorse further advances. The short-term oscillators currently reflect intact positive momentum. The MACD is increasing above its red trigger line in the positive area, while the RSI is [..]

Technical Analysis – EURGBP recovers from fresh 6-month low

Posted on November 11, 2020 at 10:38 am GMT

EURGBP touched a fresh six-month low of 0.8860 today after the strong sell-off below the 0.8940 barrier. The MACD oscillator is falling below its trigger and zero lines with strong momentum, while the RSI is moving sideways near the 30 level. The 20- and 40-period simple moving averages (SMAs) are heading south after they posted a bearish crossover. Immediate support could come from the six-month trough of 0.8860 before falling further towards the inside swing high of May 4 at [..]

Technical Analysis – USDJPY’s strong jump suggests bullish actions

Posted on November 11, 2020 at 7:40 am GMT

USDJPY is developing slightly above the 23.6% Fibonacci retracement level of the down leg from 111.70 to 103.18 at 105.20 after the sharp buying interest from the new eight-month trough of 103.18, achieved on November 6. The price touched the upper boundary of the long-term descending channel, while a jump above it would shift the bearish structure to neutral. According to technical indicators, the MACD jumped above its trigger line in the negative territory, while the RSI is pointing marginally [..]

Technical Analysis – AUDUSD maintains bullish bias despite latest pullback

Posted on November 10, 2020 at 4:33 pm GMT

AUDUSD has retreated from the fresh high of 0.7339, which formed within a resistance section of peaks from back in September. The simple moving averages (SMAs) continue to convey improvements in the pair with their recently acquired bullish demeanour. The short-term oscillators are transmitting conflicting signals in directional momentum. The MACD, in the positive zone, is decreasing below its red trigger line, while the RSI’s descent in bullish territory is slowing ahead of the 50 threshold. That said, the stochastic [..]

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