Technical Analysis / Page 467

Technical Analysis – WTI futures recede below 200-MA, denied passage over 43.69

Posted on September 10, 2020 at 8:35 am GMT

WTI oil futures have found some footing on the 100-day simple moving average (SMA) of 37.03, residing at the Ichimoku cloud’s lower band, following ineffective efforts to overrun the vital resistance border of 43.69. The flat Ichimoku lines and the converging SMAs appear to signal oxygen-deprived directional drive, which could nudge the price sideways. That said, the short-term oscillators also display conflicting signals in momentum. The MACD is extending a negative move below its red trigger line and the zero [..]

Technical Analysis – AUDUSD erases losses after hitting 40-day SMA

Posted on September 10, 2020 at 6:45 am GMT

AUDUSD has ticked up on Wednesday, paring the previous days’ losses, following the bounce off the 40-day simple moving average (SMA) at 0.7188. Currently, the price has been holding in an ascending movement since March 19, remaining above the Ichimoku cloud. The technical indicators are edging up as the stochastic posted a bullish crossover within its %K and %D lines after the rebound on the 20 level, while the RSI is flattening above the 50 level. Should the market extend [..]

Technical Analysis – GBPJPY plummets below SMAs; positive promise forming

Posted on September 9, 2020 at 3:27 pm GMT

GBPJPY seems to be developing some potential from the 136.61 to 136.73 section after an eight-day plunge from a six-month peak of 142.70. The bearish Ichimoku lines and the dip in the 50-period simple moving average (SMA) are backing further deterioration in the pair, below the 200-period SMA. Nonetheless, the short-term oscillators are displaying improvements in positive momentum. The MACD, in the negative region, is below its red trigger line but looks set to return above it, while the rising [..]

Technical Analysis – EURGBP skyrockets above MAs; bullish signals mature

Posted on September 9, 2020 at 1:00 pm GMT

EURGBP is struggling to climb above the 0.9118 barrier, as it attempts to prolong its one-week rally past a one-and-a-half-month high of 0.9130. The bullish Ichimoku lines are nurturing the ascent, which could also receive a boost from the approaching bullish crossover of the 100-period simple moving average (SMA) by the rising 40-period one. The short-term oscillators are also displaying strengthening positive momentum. The MACD, in the positive region, is increasing above its red signal line, while the RSI continues [..]

Technical Analysis – US 100 index ticks up after aggressive sell-off

Posted on September 9, 2020 at 9:28 am GMT

The US 100 index plummeted for four straight days below the 20- and 50-day simple moving averages (SMAs) after the aggressive rally to a new record high from 12,465.02. Currently, the price is trying to pare some of the losses, flirting with the 23.6% Fibonacci retracement level of the bullish move from 6,635 to 12,465.02 at 11,080. According to the technical indicators, the RSI is turning higher in the negative territory, however, the stochastic oscillator is still in the oversold [..]

Technical Analysis – NZDUSD’s footing at 50-day SMA reinstates certainty in ascent

Posted on September 9, 2020 at 8:14 am GMT

NZDUSD has found a toehold at the Ichimoku cloud’s upper surface joined by the 50-day simple moving average (SMA) at 0.6612, after its pullback from the 13½-month peak of 0.6789. The progressing slopes of the 50- and 100-day SMAs appear to be assisting the positive structure. That said, the positive Ichimoku lines reflect the stall in the climb, while the short-term oscillators display the recent weakening in price. The MACD has dipped below its red trigger line slightly above the [..]

Technical Analysis – USDJPY fails to run above SMAs; struggles near 106.00

Posted on September 9, 2020 at 6:31 am GMT

USDJPY has been in a neutral mode after the rebound on the 18-week low of 104.15 and is trading marginally below the 20- and 40-day simple moving averages (SMAs) and the 106.00 number. The RSI indicator is moving horizontally near the 50 area, while the MACD oscillator is gaining some ground with weak momentum in the negative territory. Both are endorsing the lacking direction in the short-term. In case of a run to the upside, immediate resistance would come from [..]

Technical Analysis – EURCHF’s positive tendency somewhat reserved by constraints

Posted on September 8, 2020 at 3:16 pm GMT

EURCHF’s gradual appreciation remains fairly subdued, confined between the 1.0876 top and a base from 1.0700 until 1.0721. The simple moving averages (SMAs) convey a minor bullish tone, while the short-term oscillators reflect weakness in positive momentum. The MACD, in the positive region, is weakening above its red signal line, while the stochastic oscillator is strengthening its bearish demeanour. The RSI is also reflecting signs of fading, yet remains above the 50 level. If selling interest persists, first critical support [..]

Technical Analysis – USDTRY at new record highs; remains strongly positive

Posted on September 8, 2020 at 2:38 pm GMT

USDTRY surged to a fresh record high today, hitting the 7.4390 barrier after surpassing the strong 7.4067 barrier. The price has been in an ascending movement since December 2018; however, the technical indicators are suggesting an overbought market. The RSI is touching the 70 level, while the MACD is losing momentum below its trigger line. Should the pair manage to strengthen its positive momentum, the next resistance could come around the 161.8% Fibonacci extension level of the down leg from 7.6619 to [..]

Technical Analysis – USDCAD tests medium-term descending trend line

Posted on September 8, 2020 at 12:02 pm GMT

USDCAD has successfully manoeuvred over the Ichimoku cloud and above the 100-period simple moving average (SMA), which was last breached on July 20. The pair is currently piercing the medium-term restrictive line, drawn from March 19. The rising red Tenkan-sen line has overlapped with the blue Kijun-sen line, increasing positive momentum and assisting the pair in tackling the trend line. Additionally, the short-term oscillators also demonstrate bullish momentum. The MACD, in the positive section, is growing above its red trigger [..]

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