Technical Analysis / Page 55

Technical Analysis – Microsoft eases slightly from record peak

Posted on January 29, 2024 at 2:18 pm GMT

Microsoft remains above uptrend line But momentum indicators are turning lower Microsoft has its earnings release on Tuesday 30 and its stock price is currently trading slightly below the record peak of 406.70 that it reached on Thursday. The price has been developing within an ascending movement since the end of September 2023. However, the technical oscillators are indicating a potential downside retracement in the daily timeframe. The RSI is pointing down above the 70 level, while the stochastic oscillator posted a bearish crossover within [..]

Technical Analysis – USDJPY meets medium-term uptrend line

Posted on January 29, 2024 at 11:10 am GMT

USDJPY travels within short-term SMAs RSI looks neutral but stochastic confirms downside correction USDJPY is flirting with the medium-term ascending trend line in the 4-hour chart, holding within the short-term 20- and 50-period simple moving averages (SMAs). The technical picture, however, suggests a neutral-to-bearish bias at the moment as the RSI remains near the neutral threshold of 50 and the stochastic is diving south after the pullback from the 80 level and is approaching the 20 level. Should the trendline [..]

Technical Analysis – Gold opens week higher but not bullish yet

Posted on January 29, 2024 at 8:55 am GMT

Gold rises, but technical signals keep sentiment in balance Needs a break above bearish channel at 2,035 Gold started the week on a positive note, aiming to exit last week’s sideways trajectory above its 20-day exponential moving average (EMA) and the 2,035 trendline area after a couple of failed attempts. Although the horizontal move in the RSI and the stochastic oscillators are balancing hopes for a bullish breakout, upside pressures could stay in play if the 2,016 floor stays intact. A clear [..]

Weekly Technical Outlook – USDJPY, EURUSD, GBPUSD

Posted on January 29, 2024 at 8:52 am GMT

Fed meeting in focus with USDJPY remaining under pressure Positive NFP report may drive EURUSD lower BoE to keep rates unchanged as GBPUSD consolidates Fed policy meeting –> USDJPY The most important event this coming week will be the January policy meeting of the Federal Reserve. Investors are still sure that a dovish turn is on the way. Since there won’t be any changes to policy and there won’t be a dot plot to look at, investors will be listening to [..]

Technical Analysis – GBPUSD eyes key resistance within neutral zone

Posted on January 26, 2024 at 1:20 pm GMT

GBPUSD picks up steam, heads towards important resistance Technical signals improve, but market structure is still neutral GBPUSD has been trading with stronger positive momentum over the past couple of hours, aiming to reach July’s resistance trendline, which capped Wednesday’s pickup at 1.2773. The upside reversal in the RSI and the upturn in the stochastic oscillator are endorsing the bullish action in the price, though the ongoing sideways move, which started in mid-December, is showing no cracks at the [..]

Technical Analysis – USDCHF’s rebound looks fragile

Posted on January 26, 2024 at 9:30 am GMT

USDCHF rebounds within the bullish channel Some risks remain; buyers need more upside above 0.8660 Core PCE inflation due for release at 13:30 GMT USDCHF rejected a decline below its 200-period simple moving average (SMA) in the four-hour chart on Wednesday, defending last week’s bullish breakout above the line and signaling a potential trend continuation within the upward-sloping channel. The technical picture, however, cannot guarantee additional gains ahead. The 50- and 200-period SMAs have posted a bullish cross for [..]

Technical Analysis – AUDUSD hovers around 200-day SMA after decline halts

Posted on January 26, 2024 at 9:06 am GMT

AUDUSD pauses short-term retreat at December low Double bottom pattern triggers a rebound, but 200-SMA holds strong Momentum indicators remain heavily tilted to the downside AUDUSD experienced a vast selloff following its December peak of 0.6870, breaking below both its 50- and 200-day simple moving averages (SMAs). Although the pair managed to halt its retreat at the double bottom of 0.6524, its rebound has been repeatedly held down by the 200-day SMA. Given that both the RSI and stochastics are providing [..]

Technical Analysis – USDCAD looks ready for bearish retracement

Posted on January 26, 2024 at 7:46 am GMT

USDCAD battles with 200-day SMA Holds above downtrend line But momentum indicators show weak signals USDCAD is holding above the medium-term ascending trend line and is moving back and forth from the flat 200-day simple moving average (SMA) at 1.3483. The technical indicators are still located in the bullish area, with the MACD stretching slightly above its red signal line but with weak momentum, and the RSI is pointing marginally up near the 50 level. Yet the latter could also [..]

Technical Analysis – US 30 index retreats from record peak

Posted on January 25, 2024 at 2:27 pm GMT

US 30 index finds support at 161.8% Fibonacci Technical indicators suggest bearish retracement The US 30 index is easing from the all-time high of 38,108 and is meeting again the 161.8% Fibonacci extension level of the down leg from 35,685 to 32,320 at 37,800, which had acted as strong resistance over the last month. Technically, the oscillators are indicating a negative correction. The RSI is retreating from the 70 level, while the MACD fell beneath its trigger line in the positive region. Moreover, the [..]

Technical Analysis – BTCUSD pauses selloff and battles with 40,000

Posted on January 25, 2024 at 1:06 pm GMT

BTCUSD manages to halt its short-term decline But its rebound encounters resistance around 40,000 Momentum indicators still deep in their negative zones BTCUSD (Bitcoin) has experienced a strong decline from its recent two-year peak of 49,051, dropping to as low as 38,460. Despite the price’s attempt for recovery, the short-term oscillators are still heavily tilted to the downside, painting a rather dire technical picture. If the price manages to extend its rebound, the inside swing low of 41,285 could prevent initial advances. [..]

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