Technical Analysis / Page 455

Technical Analysis – US 30 index bullish at 1-month highs

Posted on October 9, 2020 at 8:18 am GMT

The US 30 index is continuing its two-week-old rebound but with slower momentum, reaching one-month highs of 28,600 today. The short-term bias looks quite positive as the MACD is surpassing the trigger line, jumping in the positive area. The RSI, meanwhile, is flattening in the bullish territory, but it needs more progress for steeper inclines. The 29,210 resistance level could be a trigger point for more bullish actions, and if the index breaks the line, the all-time high of 29,582.61 would come next. Even higher, the market [..]

Technical Analysis – USDCAD capped by 100-day SMA; negative signals dictate

Posted on October 9, 2020 at 8:11 am GMT

USDCAD recently redirected back under the mid-Bollinger band and the 50-day simple moving average (SMA), after its progress was curbed by the 100-day SMA and upper Bollinger band. The slipping 50- and 100-day SMAs continue to back the prevailing bearish picture. The short-term oscillators mirror the increase in negative momentum, suggesting further weakening in price. The MACD, in the positive region, has slipped below its red signal line and is nearing its zero mark, while the downward-sloping RSI continues falling [..]

Technical Analysis – EURGBP narrows inside symmetrical triangle

Posted on October 9, 2020 at 7:28 am GMT

EURGBP turned less volatile within a symmetrical triangle in the four-hour chart, hinting that another breakout may happen soon following Thursday’s failure. The technical indicators are currently painting a neutral picture for the short term as the RSI is testing its 50 neutral mark from the downside, the MACD is attached to its zero line, and the Stochastics seem to be stabilizing. Should the price violate the 0.9100 level and hence exit the triangle on the upside, the bulls may [..]

Technical Analysis – GBPUSD retains bullish bias in very short-term

Posted on October 9, 2020 at 6:46 am GMT

GBPUSD gained some ground above the potential bearish crossover of the 20- and 40-period simple moving averages (SMAs). The momentum indicators are signaling a neutral-to-bearish retracement as the RSI is pointing down in the positive territory, while the MACD is moving horizontally above the zero line. However, in case the price continues to rebound off the 1.2670 support level, it could open the door for the 1.3000-1.3035 resistance area. Above this crucial zone, the bulls could meet resistance at the 1.3170 barrier, taken from the inside swing [..]

Technical Analysis – WTI futures rise above 200-SMA but broader outlook is neutral

Posted on October 8, 2020 at 1:30 pm GMT

WTI crude oil futures continue to rise above the Ichimoku cloud and the 200-period simple moving average (SMA), remaining inside a bullish move over the past five days. According to the RSI, positive momentum could push for further gains in the short-term as the indicator picks up steam above its neutral threshold of 50, while the stochastic oscillator is still gaining ground in the overbought area. In the positive scenario, where the price continues to expand above today’s high, a new top could [..]

Technical Analysis – USDCHF moves horizontally after strong fall around 0.93

Posted on October 8, 2020 at 9:47 am GMT

USDCHF has been moving sideways since the soft rebound off the 0.9132 support level earlier this month but is still unable to recover the losses made at the end of September. In the short-term, the market could shift to the upside if the RSI surpasses the 50 level and the stochastic continues the upside move after it completed a bullish crossover within the %K and %D lines. An extension to the upside and above the 0.9185 resistance and the 40-period [..]

Technical Analysis – AUDUSD consolidates, limited between 50- and 100-day SMAs

Posted on October 8, 2020 at 8:10 am GMT

AUDUSD is currently creeping sideways, constricted between the 50- and 100-day simple moving averages (SMAs), after the pullback from the near 25-month peak of 0.7413. The easing negative tones of the Ichimoku lines are aiding the horizontal price action, while the relatively bullish bearing of the 50-and 100-day SMAs defend a neutral-to-bullish structure. Nonetheless, the short-term oscillators reflect mixed signals in directional momentum. The MACD, in the negative region, is strengthening above its red trigger line towards the zero mark, [..]

Technical Analysis – NZDUSD bears remain in favour after double top creation

Posted on October 8, 2020 at 7:33 am GMT

NZDUSD could not sustain strength above 0.6600 as the 20- and 50-day simple moving averages (SMAs) and the blue Kijun-sen line blocked the way towards the 0.6796 peak, with the price registering a lower high in the daily chart instead. Note that the latter is following the creation of a bearish double top pattern. A forceful close below 0.6500 would make the short-term outlook cloudier and the momentum indicators cannot exclude that scenario at the moment. The RSI, although still not far below its [..]

Technical Analysis – EURUSD reverses up; indicators show bullish signal

Posted on October 8, 2020 at 7:17 am GMT

EURUSD has been in a positive tendency in the very short-term, climbing above the 20- and 40-period simple moving averages (SMAs) and the Ichimoku cloud. The momentum indicators are pointing to a neutral to positive bias with the RSI just above 50 and the MACD is trying to complete a bullish crossover with its trigger line in the bullish area. However, the red Tenkan-sen line is heading south, suggesting a downside reversal. Further gains should see the October 6 high [..]

Technical Analysis – EURGBP edges eastbound; upholds positive structure

Posted on October 7, 2020 at 2:33 pm GMT

EURGBP is currently tackling the mid-Bollinger band, preserving a neutral-to-bullish tone after bounces off the 50- and 100-day simple moving averages (SMAs), which followed a retreat from the recent five-and-a-half-month high of 0.9291. The dampened slopes of the 50- and 100-day SMAs continue to endorse the gradual positive incline in the pair. The short-term indicators reflect that positive momentum is strengthening. The MACD, although below its red trigger line, has held above zero, and appears set to reclaim it. Moreover, [..]

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