Technical Analysis / Page 499

Technical Analysis – USDJPY in a slippery mode in trading range

Posted on June 24, 2020 at 7:38 am GMT

USDJPY has been in a consolidation mode over the last three months with an upper boundary at the 109.83 resistance level and lower boundary at the 106.43 support. The price has not improved its bullish move that started after the bounce off the 41-month low at 101.15 and it currently stands beneath the short-term moving averages (SMAs). Looking at the technical indicators, the RSI is losing momentum below the neutral threshold of 50, while the MACD dropped under the trigger and zero lines, [..]

Technical Analysis – US 100 index flies to new records

Posted on June 23, 2020 at 2:43 pm GMT

The US 100 cash index (Nasdaq) entered uncharted waters today once again, breaking above its previous all-time high of 10,155. The picture is overwhelmingly positive, with the price printing higher highs and higher lows above all its simple moving averages (SMA). Short-term oscillators detect strengthening upside momentum, endorsing the bullish picture. The RSI, already in positive territory, looks to be headed for a test of its 70 line soon, while the MACD just crossed above its red trigger line, which [..]

Technical Analysis – EURCHF exhibits signs for continued consolidation

Posted on June 23, 2020 at 1:07 pm GMT

EURCHF has found a foothold at the 1.0635 level, that being the 23.6% Fibonacci retracement of the down leg from 1.1058 to 1.0504. The pair was unable to sustain the correction that extended above the 200-day simple moving average (SMA) and as such is currently demonstrating weak directional signals, something also reflected within the Ichimoku lines. Although the technical oscillators were unclear of direction lately, they now promote the recent improvement off the 1.0635 mark. The MACD, in the positive [..]

Technical Analysis – USDCAD fails to surpass flat SMAs; negative in medium term

Posted on June 23, 2020 at 12:48 pm GMT

USDCAD looks to be flat over the last two weeks but is now penetrating the 23.6% Fibonacci retracement level of the down leg from 1.4170 to 1.3315 at 1.3518, inside the Ichimoku cloud. Also, the price holds beneath the 20- and 40-period simple moving averages (SMAs), confirming the neutral bias and the RSI is keeping some distance from the 50 level, pointing down. However, the stochastic oscillator is completing a bullish crossover within its %K and %D lines in the [..]

Technical Analysis – AUDJPY pulls back, but uptrend still in play

Posted on June 23, 2020 at 12:47 pm GMT

AUDJPY retreated recently after touching a one-year high near 76.80, but the pair found fresh buy orders at 72.70 and rebounded again. The structure of higher highs and higher lows on the daily chart remains intact, and the price is still trading above a three-month upside support line. If the 50-day simple moving average (SMA) crosses above the 200-day one soon, completing a so-called ‘golden cross’, that would be another bullish signal. Short-term oscillators like the RSI and the MACD [..]

Technical Analysis – WTI futures advance to 15-week high as bulls are back in play

Posted on June 23, 2020 at 9:34 am GMT

WTI crude oil futures came close to breaking the 15-week high of 41.21 and the upper Bollinger band in the 4-hour chart. According to the RSI, the market could maintain positive momentum as the indicator is positively sloped above its neutral threshold of 50, though the MACD oscillator is still continuing with somewhat weak momentum above the zero lines. On the upside, the price could attempt to overcome the 41.21 high and retest the 43.60 resistance, which if successfully broken the door could open for the 200-simple [..]

Technical Analysis – EURJPY’s ascent salvaged by bounce on 200-day SMA

Posted on June 23, 2020 at 8:45 am GMT

EURJPY is currently tackling the mid-Bollinger band at 120.90 after a rebound off the 200-day simple moving average (SMA). The deep retracement from the 13-month peak of 124.42 reached the 200-day SMA at the 119.43 level, which happens to be the 50.0% Fibonacci retracement of the up leg from 114.42 to 124.42. Looking at the short-term oscillators, they appear to back an improving picture in the near-term. The MACD, in the positive region, has flattened below its red signal line, [..]

Technical Analysis – GBPUSD develops in ascending channel in short term

Posted on June 23, 2020 at 7:42 am GMT

GBPUSD has been developing within an ascending channel over the last three months, hovering around the moving averages in the daily timeframe. The price started an upward move following the rebound on the 35-year low of 1.1409, remaining above the Ichimoku cloud, while the RSI is moving sideways near the 50 area. However, the MACD oscillator is heading south below its trigger line, confirming the recent downside movement. Should the market extend losses below the 50.0% Fibonacci retracement level of [..]

Technical Analysis – GER 30 index’s retracement forced sideways; positive picture under strain

Posted on June 22, 2020 at 2:43 pm GMT

Germany 30 Index’s (Cash) bounce on the 11,588 level, that being the 61.8% Fibonacci retracement of the down leg from 13,826.27 to 7,961, appears to have hit a ceiling at the 76.4% Fibo of 12,444. The current sideways move is further backed by the recent bearish overlap of the improving 100-period SMA by the falling 50-period one, around 12,258. Additionally, momentum indicators are highlighting the paused demeanour in the price as the MACD and the RSI remain stuck around their [..]

Technical Analysis – US 500 index holds marginally below 100-SMA; bullish in long term

Posted on June 22, 2020 at 1:08 pm GMT

The US 500 cash index found strong resistance around the 100-period simple moving average (SMA) over the last session, sending the indicators lower as well. The MACD is heading south below zero and its trigger line, while the RSI is pointing down below the neutral level of 50. Also, the red Tenkan-sen line declined beneath the blue Kijun-sen line suggesting more losses in the 4-hour chart. Should prices head lower, immediate support could come from the 38.2% Fibonacci retracement level of the upward [..]

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Technical Analysis