Technical Analysis / Page 445

Technical Analysis – GBPJPY capped by SMAs and squeezed Bollinger band

Posted on November 6, 2020 at 12:16 pm GMT

GBPJPY is trading around the vicinity of 136.00, where the 20- and 40-day simple moving averages (SMAs) are also holding. The pair failed several times to jump above the 137.70 barrier, which has imprisoned the price for more than a month. Looking to the short-term oscillator, the RSI promotes slight improvement around its neutral mark, despite diminished directional momentum. Yet, the declining 20- and 40-day SMAs maintain a bearish tone, while the Bollinger band is squeezing. Should buyers drive above [..]

Technical Analysis – NZDUSD hits wall at fresh high; positive momentum under strain

Posted on November 6, 2020 at 10:46 am GMT

NZDUSD retreated slightly from a newly formed resistance band of 0.6797-0.6801 involving the previous 17½-month high of 0.6797. The improvement in the bullish simple moving averages (SMAs) is assisting the positive price action, though the technical indicators reflect some waning in the pair. The short-term oscillators reflect the struggle in price to ascend further. The MACD is some distance in the positive region and above its red trigger line but looks to be easing somewhat, while the RSI is hovering [..]

Technical Analysis – USDCAD seeks support at the bottom of a bearish rectangle

Posted on November 6, 2020 at 9:10 am GMT

USDCAD flipped last week’s gains after the rejection near 1.3389, diving back below its shorter-term simple moving averages (SMAs) and towards the key support of 1.3040, last seen in early September. The lower Bollinger band is also restraining the price around that border, marking the location a potential turning point as the Stochastics head for a bullish cross below their 20 oversold level. It is also worthy to note that the sideways move between the 1.3389 and 1.3040 boundaries could [..]

Technical Analysis – US 30 index heads north in possible charge to new all-time highs

Posted on November 6, 2020 at 8:28 am GMT

The US 30 index (cash) created five straight positive days after the bounce off the 200-day simple moving averages (SMAs) around the 26,077 support level. Over the last four months, the price has been developing within a slightly bearish channel and the technical indicators are mixed. The MACD is standing near the zero level, while the RSI is extending its bullish movement above the neutral threshold of 50. Further increases could take the bulls towards the 29,224 resistance before revisiting the [..]

Technical Analysis – Gold gears up within 1,900 area; bullish but overbought

Posted on November 5, 2020 at 2:48 pm GMT

Gold switched to green on Thursday, speeding up within the 1,900 area, which barely could touch in the previous day. The precious metal is currently close to breaching the bar around 1,930, though the bulls seem to be running out of fuel as the RSI is approaching a key resistance zone slightly below its 70 overbought level, making a pullback in the price possible. The Stochastics are already above 80, further backing this view. Nevertheless, should the market find new [..]

Technical Analysis – EURUSD surges above 1.1800; indicators look bullish

Posted on November 5, 2020 at 12:20 pm GMT

EURUSD is surging to a new one week-high around the 1.1800 handle after it surpassed the Ichimoku cloud and the 1.1770 barrier. The 20-and 40-period simple moving averages (SMAs) are ready to create a bullish crossover in the short-term timeframe, while technical indicators are heading north. The MACD is extending its move above its trigger and zero lines, and the RSI is approaching the overbought zone. In the positive scenario where the price continues to expand above today’s high of [..]

Technical Analysis – AUDUSD hits familiar bullish spot; trend continuation eyed

Posted on November 5, 2020 at 9:11 am GMT

AUDUSD collected marginal gains on Wednesday and closed just around the 50-day simple moving average ((SMA) despite a volatile session within the 0.7100-0.7000 region. Earlier in the week, the 0.7030 support area managed to halt negative movements for the third time, increasing speculation that the downfall from the 0.7412 peak could be temporary. The recent bullish action could also reflect the end of an a-c corrective pattern and the start of a new bullish wave 1-5 according to the Elliot theory. Still, [..]

Technical Analysis – EURJPY wrestles with 50-MA; picture appears somewhat static

Posted on November 5, 2020 at 8:57 am GMT

EURJPY’s current consolidation is tackling the 50-period simple moving average (SMA) and upper Bollinger band after improving off a formed three-and-a-half-month low of 121.61. The downward sloping SMAs and their directing bearish mode promote further dampening in the pair. That said, the price stalemate is also reflected in the short-term oscillators, which confirm fairly oxygen-deprived momentum. The MACD, although soaring above its red trigger line has settled at the zero line, while the upward pointing RSI is zig zagging around [..]

Technical Analysis – WTI futures fails to build clear tendency

Posted on November 5, 2020 at 8:07 am GMT

WTI futures have been in a neutral mode over the last five months, trading with weak momentum near the simple moving averages (SMAs). On Monday, the price rebounded off the 33.44 support level, reaching the Ichimoku cloud. The MACD oscillator is flattening marginally below the zero level, while the RSI is sloping marginally down after it achieved the neutral threshold of 50. If the price successfully surpasses the SMAs, immediate resistance could come from the 41.93-43.71 zone before breaking the [..]

Technical Analysis – US 100 index explodes by 5% as Biden leads the polls

Posted on November 4, 2020 at 4:34 pm GMT

The US 100 stock index (cash) exploded by almost 5% on Wednesday to peak at 11,805 as the counting of election votes continues in the US, favoring a Biden win. Today’s rally has breached all the simple moving averages (SMAs) in the four-hour chart and flew above the Ichimoky cloud, retracing more than half of October’s sell-off. But the bullish action does not look to be exhausted yet as the Stochastics and the RSI have yet to admit overbought conditions. The 61.8% [..]

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