Technical Analysis / Page 543

Technical Analysis – UK 100 index in a downfall since end February; reaches multi-year low

Posted on March 16, 2020 at 11:21 am GMT

The UK 100 index (Cash) has been in a strong negative rollercoaster since the end of February, dropping towards a multi-year low of 4,838. The short-term technical indicators are bearish and point to more weakness in the market. The MACD is heading south below its trigger and zero lines, while the RSI is pointing down in the oversold territory. The next target is the fresh low of 4,838. At this stage the market could extend its aggressive bearish sentiment towards [..]

Technical Analysis – GBPNZD maintains its positive structure despite seller’s pullback

Posted on March 16, 2020 at 10:34 am GMT

GBPNZD’s improving picture has found support from the 50- and 100-day simple moving averages (SMAs) slightly above the Ichimoku cloud and the tentative uptrend line. The pair is currently trading around the 2.0374 level, which is the 38.2% Fibonacci retracement of the up leg from 1.8276 to 2.1675. Moreover, the flattened Ichimoku lines reflect a stall in positive directional momentum. That said, the RSI has risen to its neutral mark while the MACD, in the positive region, is declining below [..]

Technical Analysis – EURUSD in quarantine between key borders; trend signals improving

Posted on March 16, 2020 at 8:49 am GMT

EURUSD is congested between the 1.1050 and 1.1220 borders formed by the 61.8% and 38.2% Fibonacci retracements levels of the 1.0777-1.1495 upleg after last week’s free-fall. From a technical point of view, the rising RSI indicates that the pair could recoup some lost ground in the short-term, though with the MACD keep decelerating below its red signal line, any upside correction is in doubt at the moment. Moreover, it remains to be seen if the 20-day simple moving average (SMA) [..]

Technical Analysis – Gold hovers above 2½-month high; bearish in near-term

Posted on March 16, 2020 at 7:46 am GMT

Gold prices are advancing somewhat after the downfall towards the two-and-a-half-month trough of 1,504.52 that was posted last Friday. The technical indicators are suggesting a bullish correction in the 4-hour chart as the RSI is rising, surpassing the oversold zone, while the stochastic posted a bullish crossover within its %K and %D lines. It is noteworthy, that the 40-period simple moving average (SMA) created a negative cross with the 100-period SMA, indicating a longer-term downtrend. If the price climbs above [..]

Technical Analysis – CHI 50 index seems held in a neutral structure as buyers resurface ahead of low

Posted on March 13, 2020 at 3:11 pm GMT

China A50 index (Cash) looks undecided since the beginning of March after rebounding off the 12,528 level, following the aggressive drop from the 14,678 peak. Further supporting this view is the marginally lower recent drop to 12,521, where buyers resurfaced and pushed back up towards the lower band of the Ichimoku cloud. Additionally, the converging in the simple moving averages (SMAs) and Ichimoku lines plus the conflicting signals in momentum indicators, signal an unclear direction. The MACD has just decreased [..]

Technical Analysis – GER 30 index bounces from 4-year low; bearish-to-neutral in short-term

Posted on March 13, 2020 at 2:21 pm GMT

The German 30 stock index is heading into the weekend with massive losses for the second time in a row despite pushing efforts to recover from a four-year low of 8,817 reached on Friday. Somewhat encouraging is the fact that the RSI and the Stochastics on the daily chart are refusing to post fresh lows. Yet, for the sell-off to take a breather, the indicators need to show a convincing rebound above oversold levels. Nevertheless, on the upside, there are several obstacles [..]

Technical Analysis – US 30 stock index rebounds from 3-year low; looks oversold after recent sell-off

Posted on March 13, 2020 at 10:55 am GMT

The US 30 (Cash) index has been in a free fall over the last couple of days, recording a fresh three-year low of 20,398.83. The price is shifting the strong bullish tendency of the previous years to a sharp bearish structure in the short-term. However, according to the technical indicators the market is looking oversold. Technically, the MACD oscillator is stretching its negative momentum below the zero and trigger line, but the RSI is turning higher in the bearish territory, suggesting [..]

Technical Analysis – GBPNOK cautiously positive as sellers attempt a correction

Posted on March 13, 2020 at 10:50 am GMT

GBPNOK is currently in the process of a pullback off a fresh more than four-year high, which it registered after the latest push off the 50- and 100-day simple moving averages (SMAs) on March 3. The price appreciation is also reflected in the upward sloping SMAs and the MACD, which, in the positive zone, is rising above its red trigger line as the pair gapped over the inside swing high of 12.22 from February 25 and the highs from May-June [..]

Technical Analysis – AUDJPY may keep ranging above 11-year lows; trend signals negative

Posted on March 13, 2020 at 8:57 am GMT

AUDJPY entered a consolidation phase on the four-hour chart after the bounce on the eleven-year low of 66.33 on Monday, but the move did not change the bearish structure of lower highs and lower lows in the bigger picture. The fact that the price is below its downward-sloping simple moving averages (SMA) further reduces the case of a trend reversal. In momentum indicators, however, some improvement has been detected. The RSI looks to be gaining strength towards its 50-neutral mark, the [..]

Technical Analysis – USDCAD retreats below 4-year high; indicators suggest pullback

Posted on March 13, 2020 at 7:36 am GMT

USDCAD looks to be overbought according to the technical indicators after the bullish rollercoaster occurred in the preceding days towards a fresh four-year high of 1.3960. The stochastic oscillator is flattening above the 80 level and is ready to post a bearish cross within the %K and %D lines. Also, the RSI is reversing to the downside after the extension above the 70 level. However, the short-term moving averages are still following the strong upside structure in the daily timeframe. [..]

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