Technical Analysis / Page 500

Technical Analysis – AUDUSD’s bigger positive bias struggles, as current neutral phase extends

Posted on June 22, 2020 at 12:47 pm GMT

AUDUSD in the near-term is looking mostly directionless as it drifts sideways restricted by the Ichimoku cloud. While the 100- and 200-period simple moving averages (SMAs) back the bigger positive picture, the downward sloping 50-period SMA – which is about to complete a bearish crossover of the 100-period one – promotes upcoming losses. Furthermore, conflicting signals in directional momentum can be observed by glancing at the short-term oscillators. The MACD, in the negative region, is improving above its red trigger [..]

Technical Analysis – USDJPY maintains weak bias in near term; broader trend is negative

Posted on June 22, 2020 at 9:15 am GMT

USDJPY has been underperforming in the past few days, flirting with the mid-level of the Bollinger band and hovering around the 107.00 psychological mark. When looking at the last two weeks, the pair lacks a clear trend and has been consolidating after its bearish run from 109.85 stalled at 106.57. On the 4-hour chart, the RSI indicator is moving north in the negative territory, while the %K line of the stochastic oscillator created a bullish crossover with the %D line. [..]

Technical Analysis – Gold’s sideways picture remains skewed to the upside

Posted on June 22, 2020 at 7:33 am GMT

Gold is currently pushing efforts to overrun the upper Bollinger band residing at the 1,754 resistance. The mid-Bollinger band and the 50-day simple moving average (SMA) have managed to maintain optimism in a sideways market that has taken over since the 91-month peak of 1,765.03. The short-term oscillators reflect the latest boost in the price of the commodity. The MACD, in the positive region, has pushed above its red signal line, while the RSI, following a bounce at the 50 [..]

Technical Analysis – EURUSD capped by 20-day SMA; lacks clear direction in medium term

Posted on June 22, 2020 at 7:30 am GMT

EURUSD has been in a declining move over the last two weeks after the pullback off the 1.1420 resistance level. Currently, the pair is lacking direction in the medium-term, however, the 40-day simple moving average (SMA) posted a bullish cross with the 200-day SMA. The RSI is marginally sloping up near the neutral threshold of 50, while the MACD is still losing ground below its trigger line. The price is capped by the 20-day SMA and looks ready to find [..]

Technical Analysis – Silver remains positive, bounces on 200-day SMA

Posted on June 19, 2020 at 11:36 am GMT

Silver is attempting to push back above the 17.58 key mark, after a retracement from the 18.36 peak bounced off the 200-day simple moving average (SMA). The recent bullish crossover of the 100-day SMA by the rising 50-day one may provide additional fuel to nudge the commodity back up and resume the climb. Although the red Tenkan-sen line has stalled, the Ichimoku lines still hold a positive bearing far above the Ichimoku cloud. Presently directional momentum is frail, yet the [..]

Technical Analysis – UK 100 index attempts to climb above 23.6% Fibo

Posted on June 19, 2020 at 11:19 am GMT

The UK 100 cash index is pushing efforts to extend buying pressure above the 23.6% Fibonacci retracement level of the up leg from 5,639 to 6,510 at 6310, having climbed above the bullish crossover within the 20- and 40-period simple moving averages (SMAs). The MACD is ready to stretch to the upside, while the stochastic oscillator is heading up towards the overbought region. A successful break above the 23.6% Fibo could open the way towards the three-month peak of 6,510 before the 6,760 barrier, taken from the high on January 2019, comes into view. Higher, [..]

Technical Analysis – US 30 stock index keeps uptrend safe, but doubts rise

Posted on June 19, 2020 at 10:38 am GMT

The upward pattern in US 30 stock index (cash) lost some shine after the print of a lower high at 26,791 in the four chart, but the positive trend remains valid as long as the market action develops above 24,850. Looking at the short-term window, the index is trapped between a descending trendline and the 25,770 support area and unless one of these borders collapses, the neutral mode is likely to stay intact. Technically, the bias is viewed as cautiously positive given the latest rebound [..]

Technical Analysis – USDCAD consolidates but downside tensions remain

Posted on June 19, 2020 at 8:07 am GMT

USDCAD currently seems to be prolonging its sideways course, pursuing the 200-day simple moving average (SMA). The horizontal posture within the Ichimoku lines and the 200-day SMA further sponsor this view. The short-term oscillators further emphasize the pause in the market but lean towards a negative bias. The MACD in the negative region has flattened above its red signal line, while the RSI hovers marginally below the 50 mark. That said, the stochastic lines promote a downside direction, as does [..]

Technical Analysis – GBPUSD returns above 3-week low of 1.2400; still negative

Posted on June 19, 2020 at 7:45 am GMT

GBPUSD has declined considerably after touching a three-month high of 1.2815 on June 10, while during yesterday’s session it posted a fresh three-week low around the 1.2400 handle and is currently not far above that nadir. The flat Tenkan- and Kijun-sen lines serve as a testament to the possible upside retracement. The RSI indicator is suggesting a pullback in the very short-term as it is gaining some ground above the 30 level. On the other hand, the MACD is still [..]

Technical Analysis – GBPJPY exposed to bearish risk, but will the trendline give way?

Posted on June 19, 2020 at 7:18 am GMT

GBPJPY bears dominated on Thursday, extending the two-week old downward correction to the 132.00 territory. Simultaneously, the RSI tumbled below its 50 neutral mark, while the MACD lost further ground below its trigger line, both flagging that there is more bearish fuel in store. Yet, it remains to be seen if the tentative ascending trendline drawn from the 3 ½ -year low of 124.00 can approve additional downside corrections that may reach the 130.63 support area. Lower, the 128.00-129.28 restrictive [..]

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