Technical Analysis / Page 466

Technical Analysis – AUDUSD moves horizontally above the bullish cross of SMAs

Posted on September 14, 2020 at 9:21 am GMT

AUDUSD is standing above the developing bullish crossover within the 20- and 40-period simple moving averages (SMAs), ready to insert back into the Ichimoku cloud in the four-hour chart. Also, the price has been trading above the rising trend line drawn from July 24 despite moving horizontally over the last couple of days. The technical indicators are flattening, with the RSI holding marginally above its 50 level and the MACD remaining muted around its trigger line. An extension to the upside and above the upper surface of the Ichimoku cloud could meet the area around the [..]

Technical Analysis – EURUSD edges sideways; advances could be on the cards

Posted on September 14, 2020 at 8:17 am GMT

EURUSD is currently at a standstill, curbed by the 1.1695 and 1.2010 boundaries, though is still communicating an intact upside development in price that recently stretched slightly above the 1.2000 psychological number. The fresh bearish overlap within the Ichimoku lines is transmitting frailty in the positive momentum, while the rising simple moving averages (SMAs) reflect an unquestionable bullish tone. The short-term oscillators appear to be gaining strength again. The MACD, in the positive region, is below its red signal line [..]

Technical Analysis – Gold’s next action could occur outside the triangle

Posted on September 14, 2020 at 7:45 am GMT

Gold opened with weak momentum on Monday, showing little interest to exit the one-month old horizontal trajectory that is taking place within the 1,900-2,000 area. Although not very clear, the sideways move seems to be completing a symmetrical triangle, where any clear break below or above it could determine the next direction in the market. Meanwhile the momentum indicators are reflecting a neutral-to-bearish short-term risk as the RSI continues to hover around its 50 neutral mark, while the Ichimoku indicators ( [..]

Technical Analysis – US 30 index under negative strain; broader positive picture challenged

Posted on September 11, 2020 at 12:05 pm GMT

US 30 stock index (Cash) is flirting with the 200-period simple moving average (SMA) following a bounce off the 27,196 barrier, which was then capped by the 100-period SMA around 28,207. The retreat from the 6½-month high of 29,195 appears to maintain its waning negative tone, and may receive a boost from the forthcoming bearish crossover of the 100-period SMA by the 50-period one. That said, the merged Ichimoku lines are currently edging sideways reflecting a slowing pace in the [..]

Technical Analysis – NZDUSD hovers in Ichimoku cloud; gains some ground

Posted on September 11, 2020 at 9:14 am GMT

NZDUSD looks to be creating a floor inside the Ichimoku cloud and above the 200-period simple moving average (SMA). The RSI indicator is ticking marginally up near the neutral threshold of 50, while the stochastic posted a bullish crossover within its %K and %D lines following the bounce off the 20 level. Traders, however, would be more eager to engage in buying activities if the price manages to surpass the nearby 40-period SMA at 0.6687. If this is successfully breached, [..]

Technical Analysis – GBPJPY locates foothold, stalling sell-off at 100-day SMA

Posted on September 11, 2020 at 8:29 am GMT

GBPJPY has discovered strong support from the 100-day simple moving average (SMA) of 135.54, located at the Ichimoku cloud’s lower boundary. The falling Ichimoku lines are backing the plunge in the price, while the 50- and 100-day SMAs aim to restore the pair in positive ground. The short-term oscillators are also displaying conflicting signals in momentum, hinting that price may shift into a sideways market for a while. The MACD is extending its dip under its red signal line, below [..]

Technical Analysis – USDCAD retests upper boundary of descending channel

Posted on September 11, 2020 at 7:06 am GMT

USDCAD has been developing within a descending movement since March 19 and is currently coupled within the 20- and 40-day simple moving averages (SMAs). After the rebound on the eight-month low of 1.2993, the price is trying to overcome the 1.3250 resistance. The technical indicators seem to be mixed as the MACD surpassed the trigger line in the negative territory, while the RSI is ticking south below 50. In the positive scenario, the pair could improve above the 40-day SMA, [..]

Technical Analysis – EURJPY surpasses 126.00 key level with strong momentum

Posted on September 10, 2020 at 12:53 pm GMT

EURJPY stretched its two-day rally above the 40- and 100-period simple moving averages (SMAs) moving towards the 126.00 handle. The stochastic seems to be losing momentum below the overbought territory, the RSI is pointing north in the positive area and the red Tenkan-sen is ticking up below the blue Kijun-sen, all signaling a more cautious trading in the short term. Should the price extend above the 126.00 number, resistance to upside movements could be initially detected around the 18-month high [..]

Technical Analysis – USDCHF consolidates below dictating SMAs

Posted on September 10, 2020 at 12:22 pm GMT

USDCHF has glided into a sideways structure where upside moves have been capped by the 50-day simple moving average (SMA). The recent flattening out of the now fused Ichimoku lines backs the recent ranging in the pair, while all SMAs maintain their forged bearish tone. The short-term oscillators reflect the pause in the market but convey a pick-up in negative sentiment. The MACD, although having strengthened above its red signal line in the negative region, looks set to fall back [..]

Technical Analysis – EURUSD flirts with SMAs following rebound on strong 1.1753

Posted on September 10, 2020 at 10:17 am GMT

EURUSD re-entered the 1.1800 area to touch the bearish cross within the 40- and 200-period simple moving averages (SMAs) in the 4-hour chart after bouncing near the key 1.1753 level. The technical indicators feeding prospects for a possible positive short-term trading. The RSI climbed above the 50 level, while the MACD continues to strengthen above its trigger line in the negative territory. A failure to overcome the SMAs could send the price down to 1.1753, a challenging point over the last month. Lower, [..]

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