Technical Analysis / Page 450

Technical Analysis – EURUSD creeps sideways under weak momentum

Posted on October 26, 2020 at 8:37 am GMT

EURUSD is stalling around the upper band of the Ichimoku cloud and seems to be adopting a neutral tone, something also reflected in the horizontal 50-day simple moving average (SMAs) and the flattening Ichimoku lines. Nonetheless, a dictating bullish bias in the SMAs remains fairly intact despite easing in the 50-day SMA. The short-term oscillators are transmitting conflicting signals in directional momentum. The MACD is rising in the positive region above its red trigger line, while the RSI’s gains are [..]

Technical Analysis – USDJPY tries to re-test 105.00; indicators look positive

Posted on October 26, 2020 at 7:56 am GMT

USDJPY is ticking higher, approaching the 105.00 psychological number in the 4-hour chart. The price rebounded off the 104.33 support level and surpassed the 20-period simple moving average (SMA), suggesting a possible bullish correction. The technical indicators are confirming this view with the RSI touching the 50 level and the MACD heading north in the bearish zone. If the price continues the upside move, immediate resistance would come from the 105.02 barrier, which stands around the 40-period SMA. Even higher, [..]

Technical Analysis – NZDUSD develops above MAs; bullish signals grow

Posted on October 23, 2020 at 12:07 pm GMT

NZDUSD maintains a positive tone despite stalling slightly above the 0.6687 level, that being the 61.8% Fibonacci retracement of the down leg from 0.6797 to 0.6510. The climbing red Tenkan-sen line, which has distanced itself above its blue Kijun-sen line, is suggesting strengthening price action. Moreover, the minor upward inclines in the 50- and 100-period simple moving averages (SMAs) promote forthcoming additional advances too, and could boost this view should they cross above the 200-period SMA overhead. Furthermore, momentum in [..]

Technical Analysis – US 100 index explores bullish breakout

Posted on October 23, 2020 at 12:06 pm GMT

The US 100 stock index (cash) resumed this week’s sideways move within the 11,619 and 11,743 boundaries, represented by the 61.8% and 50% Fibonacci levels of the rally that started from 11,212, despite briefly tumbling to a two-week low of 10,743. The 100-period simple moving average (SMA) on the four-hour chart is currently keeping the price under control, and more importantly, near the surface of the descending channel, suggesting that this could be a make or break point for the market. With [..]

Technical Analysis – GBPUSD looks positive despite 9 red sessions

Posted on October 23, 2020 at 9:23 am GMT

GBPUSD is pairing some losses that were posted in the preceding nine consecutive red candles in the 4-hour chart. Over the last month, the price has been developing within an ascending channel and the latest bullish action is being confirmed by the RSI, which is sloping slightly up in the positive region. However, above the zero level the MACD oscillator is still holding beneath its trigger and the red Tenkan-sen line is pointing down. If the price continues to gain momentum the next immediate resistance could come from the 1.3175 barrier ahead of the [..]

Technical Analysis – GBPJPY vulnerable, maintains a horizontal tone

Posted on October 23, 2020 at 8:06 am GMT

GBPJPY has become fixed between the capping 50-day simple moving average (SMA) and the mostly flattened 100-day SMA after attempts to improve faltered. The cloud and the steady Ichimoku lines, as well as the deteriorated bullish demeanour of the 50- and 100-day SMAs additionally endorse a directionless market. At the moment the short-term oscillators display momentum that is far from effective. The MACD is barely above its red trigger line and the zero threshold, while the downward-pointing RSI continues flirting [..]

Technical Analysis – USDCAD stops above 1.31; still bearish in long term

Posted on October 23, 2020 at 6:45 am GMT

USDCAD is continuing its downside movement in the longer timeframe after it found resistance around the 1.3420 barrier and the upper surface of the Ichimoku cloud once again. In the very short-term, the pair has been developing in a horizontal trajectory over the last couple of weeks, trading below the 20- and 40-day simple moving average (SMA). In the technical picture, the RSI indicator is pointing slightly higher, while the stochastic is heading north after the bullish cross within the [..]

Technical Analysis – GER 30 index recovers a little; negative risks remain

Posted on October 22, 2020 at 2:37 pm GMT

Germany 30 stock index (Cash) looks to be fading further despite recently finding footing at the 12,339 level. Painting a deteriorating picture are the negatively charged Ichimoku lines, one of which has capped additional progress from the price bounce. Furthermore, the bearish tone of the simple moving averages (SMAs), and specifically the downwards overlap of the 100-period SMA by the 50-period one, may accelerate the decline. The short-term oscillators display the recent price gains but also consider a stall in [..]

Technical Analysis – USDCHF rebounds off 7-week low; negative in medium term

Posted on October 22, 2020 at 12:54 pm GMT

USDCHF has reversed from the seven-week low of 0.9029 after the strong bearish move since September 25. Further backing this short-term view are the Ichimoku lines and the upward slopes on the MACD oscillator which holds above its trigger line in the negative zone. However, for now the RSI and the 20- and 40-period simple moving averages (SMAs) are reflecting contradicting signals as all of them are pointing downwards. If buying interest picks up, early tough resistance could occur at [..]

Technical Analysis – EURJPY remains in consolidation, positive momentum feeble

Posted on October 22, 2020 at 9:26 am GMT

EURJPY has been in a downside tendency over the last sessions, holding within the Ichimoku cloud and the short-term simple moving averages (SMAs). The RSI indicator is losing momentum beneath the 50 level, while the MACD is falling below its trigger line. Also, the red Tenkan-sen line is pointing down and the blue Kijun-sen line is moving sideways, suggesting fading upward momentum. In the event of a downside reversal below 123.75, the 123.34 support level and the 123.00 psychological mark may ease the selling pressure. [..]

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