Technical Analysis / Page 496

Technical Analysis – Apple continues powerful uptrend, stays near records

Posted on June 30, 2020 at 2:15 pm GMT

Apple’s stock reached a new all-time high of 372.16 last week, continuing its monster bull run above a three-month upside support line and above all its simple moving averages (SMAs), which are also sloping upwards. Momentum oscillators endorse the positive picture. The RSI is well above 50 and is pointing higher, while the MACD – already deep in positive territory – looks ready to cross above its red trigger line soon. If buyers manage to pierce above the record high [..]

Technical Analysis – EURCHF hits a resistance wall, plunges below 200 MA

Posted on June 30, 2020 at 11:41 am GMT

EURCHF today encountered heavy resistance from the 100-period simple moving average (SMA) residing at the Ichimoku cloud’s upper band at 1.0700. As a result the price has retreated back below the 200-period SMA and has strengthened a short-term neutral-to-negative picture. The Ichimoku lines reflect the somewhat recent edging sideways in the price, while the short-term oscillators promote further declines. The stochastic oscillator is negatively charged after a bearish crossover by the %K line was completed out of the overbought region. [..]

Technical Analysis – AUDJPY consolidates, but picture still positive

Posted on June 30, 2020 at 11:18 am GMT

AUDJPY has been confined within a narrow range in recent weeks, between 74.40 and 72.70. Yet, the bigger picture is still bullish as the pair remains above a three-month upside support line and the price structure still consists of higher peaks and higher troughs. What’s more, the 50-day simple moving average (SMA) looks ready to cross above the 200-day one, forming a so-called ‘golden cross’, which would be another positive sign. Short-term oscillators don’t tell us much about the next [..]

Technical Analysis – WTI futures fails to improve positive mode; neutral in very short-term

Posted on June 30, 2020 at 9:03 am GMT

WTI crude oil futures have been trading within a narrow range, inside the Bollinger band confirmed by the momentum indicators. The RSI is moving sideways in the positive region near the 50 level, while the MACD is flattening marginally above trigger and zero lines. The flat movement is in line with the 40-period simple moving average (SMA), which acts as support for the bears. If the price jumps above the upper Bollinger band, immediate resistance could appear at the 15-week [..]

Technical Analysis – USDCAD gains capped by 200 moving average

Posted on June 30, 2020 at 8:10 am GMT

USDCAD is presently tackling the restricting 200-period simple moving average (SMA) residing at the 1.3680 level, that being the 50.0% Fibonacci retracement of the down leg from 1.4047 to 1.3314. The existing bullish tone in the 50- and 100-period SMAs and the positive bearing of the Ichimoku lines further back additional price advances. The technical indicators also back an improving picture in the short-term timeframe. The MACD, in spite of having dipped below its red signal line in the positive [..]

Technical Analysis – EURGBP jumps above 0.9100, continues upward trend

Posted on June 30, 2020 at 8:00 am GMT

EURGBP levitated higher this week, continuing the pattern of higher highs and higher lows on the daily chart above an uptrend line drawn from the lows of February. The pair is also trading above all its simple moving averages (SMAs), all of which suggests that the outlook is bullish. Short-term oscillators mostly concur with that assessment, as the RSI is already positive and is hovering just below its 70 line, while the MACD is above both its zero and red [..]

Technical Analysis – EURJPY rests near 121.00; is in negative correction

Posted on June 30, 2020 at 6:22 am GMT

EURJPY created a spike above the 20-day simple moving average (SMA), but the bias remains bearish in the short-term, as the price is trading well below the 13-month peak of 124.42. Further backing this short-term view are the Ichimoku lines and the 20-day SMA, which is reversing down. However, for now the technical oscillators reflect contradicting signals. The MACD, in the positive area, remains below its trigger line but it seems to strengthen its momentum, while the RSI hovers in [..]

Technical Analysis – GBPUSD bears may retain charge after one-month low

Posted on June 30, 2020 at 6:06 am GMT

GBPUSD refused to close within the Ichimoku cloud for a second time this month on Monday despite piercing it slightly to the downside. With the price having reached a new one-month low of 1.2250 in a familiar support area, upside corrections or some stabilization cannot be ruled out in the short-term. Yet, any improvement could be short-lived as the bears remain in charge according to the RSI and the MACD which continue to lose strength below their neutral marks. Should [..]

Technical Analysis – US 500 index’s sideways shift fades below 200-MA

Posted on June 29, 2020 at 1:38 pm GMT

US 500 stock index (Cash) is attempting to reclaim the 200-period simple moving average (SMA) after dipping below it in the previous session. The recent horizontal glide in the price after the pullback from the three-and-a-half-month top of 3,233, has been dwindling as negative tensions build. The neutral-to-bearish tone in the 50- and 100-period SMAs and the negative bearing in the Ichimoku lines further back the deteriorating view. Additionally, the price remains below the cloud and the vital 200-period SMA. [..]

Technical Analysis – Brent futures pull back from more than 3-month peak

Posted on June 29, 2020 at 1:22 pm GMT

Brent crude oil futures stretched their two-month rally to a more than three-month high of 44.00 last Tuesday before pulling slightly lower. The RSI seems to be gaining momentum above the 50 level, while the stochastic oscillator is ready to post a bullish crossover within its %K and %D lines above the oversold territory. The market trend is likely to hold on the upside as long as the price holds far above the moving averages in the short term. If [..]

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