Technical Analysis / Page 484

Technical Analysis – AUDUSD slips near 15-month high; strongly bullish in medium term

Posted on July 30, 2020 at 7:46 am GMT

AUDUSD is edging slightly lower after reaching a 15-month high of 0.7185 but is still holding a strong upside tendency since March 19. The stochastic oscillator is pointing down, ready to post a bearish cross within its %K and %D lines in the overbought zone, suggesting some losses in the short-term. However, the MACD oscillator is strengthening its upside structure above its trigger and zero lines. In case the pair extends the pullback, immediate support could come from the 0.7030 – 0.7067 area, which encapsulates the 20-day simple moving [..]

Technical Analysis – GBPJPY set for a bullish breakout

Posted on July 30, 2020 at 7:23 am GMT

GBPJPY is set for a bullish breakout after finding significant support near the lower line of a symmetrical triangle and the 20-day simple moving average (SMA). The pair also managed to step on the surface of the Ichimoku cloud and return slightly above the 50% Fibonacci of the 147.94-124.00 downleg, increasing optimism that the bulls may not give up yet. A similar view is reflected among the momentum indicators too. The RSI is making higher highs and higher lows in the [..]

Technical Analysis – EURGBP rests near 38.2% Fibo; holds in ascending channel

Posted on July 29, 2020 at 1:28 pm GMT

EURGBP has been in an ascending channel since April 30 but is currently testing the 20-day simple moving average (SMA) and the 38.2% Fibonacci retracement level of the up leg from 0.8275 to 0.9500 at 0.9035. The momentum indicators are suggesting a possible downside pullback as the RSI is meeting the 50 level and the stochastic is moving lower after a bearish cross within the %K and %D lines. If sellers drive the pair below the 100-day SMA at 0.8940, [..]

Technical Analysis – Gold advances suppressed by all-time high

Posted on July 29, 2020 at 9:22 am GMT

Gold maintains a horizontal trajectory pressed below the all-time high of 1,981 but is still in a strong bullish mode in the long-term picture. A paused state of directional momentum is reflected in the Ichimoku lines as the price rests near the red Tenkan-sen line. The mixed signals in the short-term oscillators further reflect the stall in the price. The MACD has barely inched below its red trigger line in the positive region, while the RSI is improving its movement near the overbought zone. If buyers [..]

Technical Analysis – NZDUSD bulls may take a breather in short-term

Posted on July 29, 2020 at 7:39 am GMT

NZDUSD pierced the 0.6700 whole number before inching down on Tuesday, stretching its upward pattern to an almost 8-month high. With the RSI having topped twice just below its 70 overbought mark, and the Stochastics shifting south from their 80 level, weakness is expected to persist in the short-term. If that is the case, the area around the 20-day simple moving average (SMA) at 0.6580 could immediately attract attention given its resilience to downside and upside pressures in the past. [..]

Technical Analysis – USDJPY plunges to 20-week low below 105.00

Posted on July 29, 2020 at 7:15 am GMT

USDJPY tumbled to a fresh 20-week low of 104.94 earlier today, completing the fifth negative session in a row. The price shifted the neutral picture to bearish in the short term, declining beneath the 61.8% Fibonacci retracement level of the up leg from 101.15 to 109.83 at 105.19. Further backing this short-term view are the downward slopes of the 20- and 40-day simple moving averages (SMAs). However, for now the technical oscillators reflect bearish signals. The MACD, in the negative [..]

Technical Analysis – Facebook stock fails to improve positive picture

Posted on July 28, 2020 at 1:11 pm GMT

Facebook’s stock price retreated beneath the all-time high of 249.60, trading around the 50-day simple moving average (SMA). The upside picture faded in the very short term as the MACD oscillator dropped beneath its trigger line near the zero level, while the RSI is holding in the negative territory, suggesting some losses may be on cards. If the stock price successfully surpasses the 50-day SMA, immediate resistance is coming from the red Tenkan-sen line at 236.85 before pausing its move at 249.60. [..]

Technical Analysis – Dollar index stabilizes 7-day bearish strike near 2-year lows

Posted on July 28, 2020 at 9:43 am GMT

The US dollar index (futures) found a bottom around an almost two-year low of 93.40 after a seven-day bearish strike, which put the market back on a negative path. While the Stochastics and the RSI in the four-hour chart signal that the market has reached the edge of the oversold territory as the indicators move upwards, the index has now a long way to go to cross the 97.77 border and hence eliminate fears of a down-trending market. The strenghthening MACD oscillator is also [..]

Technical Analysis – WTI futures lacks direction after the jump to almost 5-month high

Posted on July 28, 2020 at 8:50 am GMT

WTI crude oil futures have been on a sideline move after they reached an almost five-month peak around 42.50 in the preceding week. The price is flirting with the upper surface of the Ichimoku cloud and the short-term simple moving averages (SMAs) in the 4-hour chart. Looking at the technical indicators, the RSI is holding near the 50 level, while the MACD is moving with weak momentum near its trigger and zero lines, both confirming the recent neutral trend. In case the price [..]

Technical Analysis – EURJPY bulls look exhausted, but the trendline is still intact

Posted on July 28, 2020 at 7:17 am GMT

EURJPY has been struggling to retain strength above the 123.75 resistance area over the past three days, and therefore unable to touch the 13-month high of 124.42. Some weakness is visible in momentum indicators, flagging that the pair could face downside pressure in the short-term; the RSI and the Stochastics seem to have found a turning point in the overbought territory, while the MACD has been rising at a softer pace lately. Still, sellers may not take control unless the steep ascending trendline that [..]

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