Technical Analysis / Page 545

Technical Analysis – EURAUD declines following the surge to 11-year peak of 1.8200

Posted on March 11, 2020 at 10:22 am GMT

EURAUD is reversing lower following the pullback on the eleven-year top of the 1.8200 handle, which overlaps with the 261.8% Fibonacci extension level of the downfall from 1.6790 to 1.5890. The pair today has declined to the nearby 161.8% Fibonacci extension of 1.7320, with backing from the technical indicators. The short-term oscillators suggest an increase in negative momentum for now. The RSI, in the positive region, is slipping towards the 70 level, while the falling stochastic has moved underneath its [..]

Technical Analysis – EURGBP accelerates above 0.8800; risk tilted to the upside

Posted on March 11, 2020 at 8:12 am GMT

EURGBP regained positive momentum above the 200-day simple moving average (SMA) on Wednesday that kept the bulls under control since the start of the month and is currently in battle with the 0.8800 area. Earlier, the pair confirmed a bullish double bottom pattern by breaking the neckline around 0.8594 and now the bullish cross competed between the 20- and the 50-day SMAs is further backing a trend improvement. Regarding the price momentum, it could stay positive in the short-term but [..]

Technical Analysis – AUDUSD calms down after plunging to 11-year low

Posted on March 11, 2020 at 7:35 am GMT

AUDUSD is recovering some of Monday’s losses as it plummeted towards an eleven-year trough of 0.6310 but reversed quickly higher. Currently, the pair is trading near the 0.6500 psychological mark and the flattening red Tenkan-sen line. The RSI indicator is sloping marginally up in the negative territory, suggesting a possible upside correction, while the MACD oscillator is flirting with the trigger line in the bearish zone. Moreover, the 20- and 40-day simple moving averages (SMAs) are acting as strong resistances [..]

Technical Analysis – EURNZD hits levels not seen in 9-years before dropping back down

Posted on March 10, 2020 at 3:47 pm GMT

EURNZD’s fierce move yesterday stretched towards nearly a 9-year high of 1.8980 before sellers pulled the pair south to around 1.8016, which is a high from back in September of 2015 (previous resistance-now-support). The positive picture still looks intact with the upward sloping simple moving averages (SMAs) and a nearing bullish cross of the 100 and 200-day simple moving averages (SMAs) by the 50-day one. Additionally, the MACD is deep in the positive region and above its red trigger line, [..]

Technical Analysis – Dollar index bounces off 17-month low, closing the negative gap

Posted on March 10, 2020 at 1:52 pm GMT

US dollar index futures jumped above the 17-month trough of 94.60 today and spiked near the 96.00 number, filling the negative gap posted on Monday. The RSI penetrated the downtrend line to the upside in the oversold zone, suggesting a potential upside correction of the aggressive selling interest, while the MACD is still falling below its trigger and zero lines. If the market corrects higher, the bullish action may pause initially near the 23.6% Fibonacci retracement level of the downward wave from 99.80 to 94.60 [..]

Technical analysis – GBPAUD posts bullish spike at 4-year high

Posted on March 10, 2020 at 11:27 am GMT

GBPAUD after the aggressive bullish action towards a four-year high of 2.0763, returned near its opening level on yesterday’s session below 2.0000. However, chances for a downside reversal are minimal, as the 20-day simple moving average (SMA) remains above the 40-day SMA for more than a month now. Additonal evidence comes from the MACD as it continues to strengthen to the upside and above its trigger line, supporting this view, while the RSI is flattening slightly below the 70 level. Should the [..]

Technical Analysis – EURJPY recovers losses but negative signals still present

Posted on March 10, 2020 at 8:58 am GMT

EURJPY’s latest rally from a six-month low of 116.11, which recouped all of yesterday’s aggressive drop, has been capped by the 50-period simple moving average (SMA), resulting in the price returning somewhat around the mid-Bollinger band, currently at 118.32. The technical oscillators also reflect a very short-term stall in the up move. The MACD, deep in the negative zone, has climbed above its red trigger line, while the RSI has stalled marginally above its neutral mark. That said, traders need [..]

Technical Analysis – GBPUSD retreats after climbing to 1.3200; still in bearish channel

Posted on March 10, 2020 at 7:44 am GMT

GBPUSD has been in a descending channel over the last three months as the 1.3200 handle seems to be a real struggle for the bulls. During yesterday’ session the pair posted an upside spike towards the upper boundary of the Ichimoku cloud and the channel but failed to exit the range. Technically, the price could lose some ground in the short-term as the RSI is changing direction to the downside and towards its 50 neutral mark, while the stochastics are warning over an overbought [..]

Technical Analysis – EURNOK retraces from new all-time high despite positive signals

Posted on March 9, 2020 at 4:07 pm GMT

EURNOK looks to have paused in the very short-term, after reversing from the fresh top of 10.9953. Despite the slight weakening in positive momentum reflected in the technical oscillators, positive signals are still evident within the upward sloping simple moving averages (SMAs). The MACD, although appearing to ease slightly, is in the positive area and is distanced above its red trigger line, while the RSI has weakened in the overbought region. To the downside, initial support could come from the [..]

Technical Analysis – Palladium’s correction from all-time peak could be short lived as positive structure holds

Posted on March 9, 2020 at 2:17 pm GMT

Palladium futures look to have encountered significant support from the 50-day simple moving average (SMA) and the 2,250 level, which is the 38.2% Fibonacci retracement of the up leg from 1,376 to 2,786.16. The retracement off the fresh all-time high of 2,786.16, is aided by the negative momentum reflected in the technical oscillators. The MACD, is in the positive area but is distancing itself below its red trigger line, heading towards the zero level, while the RSI weakens, steering into [..]

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