Technical Analysis / Page 473

Technical Analysis – EURUSD is capped by SMAs and fails to improve positive picture

Posted on August 27, 2020 at 8:31 am GMT

EURUSD attempted to break the upper border of the neutral zone it has been ranging within the last week, but its efforts proved unsuccessful as the 40-period simple moving average (SMA) defended the bears once again around 1.1850. The short-term oscillators are suggesting mixed signals as the RSI is hitting the 50 level, though, the MACD is gaining ground and is approaching the zero level. Hence, the short-run risk is looking neutral-to-positive now and another retest of the 1.1850 – [..]

Technical Analysis – AUDUSD hovers around 8-month high

Posted on August 27, 2020 at 6:47 am GMT

AUDUSD has been advancing since March 19 but over the last month, it has been moving sideways below the eight-month peak of 0.7275 achieved on August 19. Currently, the pair is developing slightly above the short-term simple moving averages (SMAs) and the stochastic is approaching the overbought territory, however, the MACD is confirming the recent neutral mode and is losing momentum in the positive zone. If there is an attempt above the eight-month peak, immediate resistance would come from the [..]

Technical Analysis – EURGBP tumbles below SMAs; indicators are negative

Posted on August 26, 2020 at 1:17 pm GMT

EURGBP has been in a declining movement over the last sessions, remaining well below the Ichimoku cloud and the short-term simple moving averages (SMAs). Furthermore, the RSI is heading south in the bearish territory, while the stochastic is moving lower in the oversold zone. If prices continue to head lower, support should come from the 0.8943 support, taken from the latest lows, before touching the 0.8865 barrier, registered on June 5. However, should an upside reversal take form, immediate resistance [..]

Technical Analysis – GBPJPY remains consolidated; positive momentum feeble

Posted on August 26, 2020 at 11:39 am GMT

GBPJPY seems to be range bound, something also reflected in the flattening out of the slopes of the 50- and 100-period simple moving averages (SMAs). The directionless Ichimoku lines and the steadied cloud further reflect this view. That said, the short-term oscillators, although somewhat stalled, still lean towards a positive picture. The MACD, in the positive region, is holding above its red signal line, while the RSI hovers in bullish territory. Noteworthy is the intact bullish bearing of the SMAs. [..]

Technical Analysis – Gold lacks clear direction after meeting all-time high

Posted on August 26, 2020 at 8:32 am GMT

Gold prices have been in a declining direction after strong rally towards the all-time peak of 2,074.89, but they found strong support at the 1,911 barrier over the last two weeks. The price is trading below the simple moving averages (SMAs) and the Ichimoku in the 4-hour chart. Furthermore, the RSI is heading south in the bearish territory, however, the MACD is moving horizontally below the zero line. A strong push below the 1,911 support would drive the bears towards [..]

Technical Analysis – NZDUSD retraces under 50-day SMA; positive signals intact

Posted on August 26, 2020 at 8:25 am GMT

NZDUSD has faded below the 50-day simple moving average (SMA) from a fresh seven-month high of 0.6714, somewhat stalling the bullish picture. However, the strengthening 50- and 100-day SMAs coupled with a forthcoming bullish crossover of the 200-day SMA by the 100-day one, may rapidly guide the pair higher again. The short-term oscillators are transmitting mixed signals of momentum at the moment. The MACD and its red signal line are currently flirting with the neutral mark. On the other hand, [..]

Technical Analysis – USDJPY ticks up but still in descending move

Posted on August 26, 2020 at 7:00 am GMT

USDJPY has been ticking higher over the last couple of days, though in the five-month picture it is still in a descending movement. Currently, the price is flirting with the 40-day simple moving average (SMA), while the RSI is hovering around its 50 level. Also, the MACD is moving higher in the negative territory, indicating an upside retracement in the short-term. If the price jumps above the 40-day SMA, immediate resistance could come from the 38.2% Fibonacci of the down leg from 111.70 to 104.15 at 107.07. Clearing [..]

Technical Analysis – CADJPY remains above 200-day SMA; positive signals strengthen

Posted on August 25, 2020 at 3:14 pm GMT

CADJPY recently found some footing on the 200-day simple moving average (SMA), shifting the momentum to the upside. Aiding an appreciation in the pair are the bullish 50- and 100-day SMAs and the short-term oscillators. The MACD, in the positive region, has poked above the red trigger line while the RSI is increasing in the bullish section. Additionally, the stochastic oscillator is strengthening its positive tone endorsing further advances. To the upside, clearing the 80.55 level, which is the 61.8% [..]

Technical Analysis – EURCHF underperforms below 200-SMA; neutral bias

Posted on August 25, 2020 at 1:00 pm GMT

EURCHF has been underperforming, breaking back below the key 200-period simple moving average (SMA) in the 4-hour chart. When looking at the bigger picture the pair lacks a clear trend and has been consolidating since July 14. Prices pulled back from the 1.0775 resistance level, which overlaps with the 40-period simple moving average (SMA) but based on technical indicators, momentum is too weak to provide a sustained move higher. The RSI is below 50 and the MACD is trying to [..]

Technical Analysis – WTI futures range bound; buyers pierce above cloud

Posted on August 25, 2020 at 12:33 pm GMT

WTI oil futures penetrated above the 50-period simple moving average (SMA) currently at the cloud’s upper surface around 42.66, following a recent bounce on the 200-period SMA. A consolidated tone has grasped the commodity for the last couple of weeks but a relatively bullish bearing continues to dominate the SMAs. The short-term oscillators reflect a slight increase in positive momentum. The MACD is marginally below zero but holds above its red trigger line, while the RSI is improving from its [..]

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