Technical Analysis / Page 555

Technical Analysis – CHI 50 index fights with 200-SMA after rebound on 8-month low

Posted on February 11, 2020 at 11:12 am GMT

China’s 50 stock index (CHI 50) has rebounded somewhat after falling to the eight-month low of 12,520 on February. Currently, the price struggles beneath the 200-day simple moving average (SMA), which overlaps with the area of the 23.6% Fibonacci retracement level of the up leg from 10,197-14,678 of 13,621 and the 13,570 barrier. The momentum indicators now suggest that the market sentiment might get better as the RSI is approaching the positive territory as it flirts with the 50 level. [..]

Technical Analysis – AUDNZD enjoys bullish debut after breaching key barrier

Posted on February 11, 2020 at 11:05 am GMT

AUDNZD has finally risen above the 1.0437 area that kept the bulls under control since early December, surpassing its shorter-term moving averages (SMAs) and expanding into the Ichimoku cloud as well. The strengthening RSI and the improving MACD suggest that positive sentiment could stretch into the short-term, with the spotlight turning now to the 200-day SMA. But for the bulls to challenge the line, the 38.2% Fibonacci of 1.0519 of the 1.0864-1.0306 downleg should let the door open. If that [..]

Technical Analysis – WTI futures possibly forming a double bottom pattern

Posted on February 11, 2020 at 9:42 am GMT

WTI oil futures during yesterday’s trading session reversed ahead of the 49.29 fresh bottom – which is a 13-month low – forming the start of a likely double bottom pattern. Currently, the overhead Ichimoku cloud, the slipping red Tenkan-sen line and all downward sloping simple moving averages (SMAs) promote a strong negative picture. Moreover, the RSI is hovering below its 50 mark, further backing this view. That said, the MACD has climbed above its red trigger line, in the negative [..]

Technical Analysis – EURCHF’s bearish run break almost 3-year low; indicators are oversold

Posted on February 11, 2020 at 8:23 am GMT

EURCHF had a bearish start on Tuesday, with the price breaking a crucial support at 1.0660 to drop to 1.0656, the lowest since April 2017. Currently, the pair is moving marginally above this bottom but has also increased distance below its negatively sloped moving average line and the Ichimoku cloud, indicating that the ten-month downtrend may hold for longer. Momentum signals are bearish as well as the red Tenkan-sen line, which is below the blue kijun-sen line and looks to [..]

Technical Analysis – GBPUSD could explore more weakness below 1.2870

Posted on February 11, 2020 at 8:13 am GMT

GBPUSD is struggling to hold above the 1.2900 level and its previous low, having cracked below the Ichimoku cloud, with the bearish cross between the 20- and 50-day simple moving averages (SMA) adding concerns of a down-trending market. In the short-term, the bears could remain active according to the RSI, which remains below its 50 neutral mark, while the strengthening negative momentum in the MACD is another sign that the pair may keep facing downside pressure. For the sell-off to continue, sellers should clear [..]

Technical Analysis – US 100 Index’s boost dwindles as it looks for a new summit

Posted on February 10, 2020 at 3:12 pm GMT

US 100 Index’s (Cash) recent appreciation, which bounced off the blue Kijun-sen line around 9,056, produced a fresh all-time high of 9,459. That said, the index appears to have taken a breather, something also reflected in the technical indicators, which display some wanings in positive momentum. The MACD, although deep in the positive region and above its red trigger line, has lost steam, while the RSI is hovering below the 70 level. The Stochastics also warn of possible weakness in [..]

Technical Analysis – Tesla’s stock may trade at softer pace; 20-period EMA eyed for support

Posted on February 10, 2020 at 1:58 pm GMT

Tesla’s stock price found strong footing near the 20-period exponential moving average (EMA) on the four-hour chart after the sharp downfall off the new record high of 967.49. The 20-period EMA currently at 702.68 may remain under the spotlight in the short-term as the weakness in the RSI and the MACD suggest the market may further lose momentum. Before that, the 38.2% Fibonacci of the 328.24-967.49 upleg at 724.00 could first come to the rescue. If the sell-off extends below the 20-period [..]

Technical Analysis – EURCAD bounces on moving averages bullish cross; neutral bias in near term

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

EURCAD has been losing ground over the last four days but its sideways move since the end of August remains intact, keeping the short- and medium-term pictures neutral. The price is currently hovering near the 20- and 40-day simple moving averages (SMAs) which try to complete a bullish cross. According to the MACD, the momentum in the price could remain weak as the indicator softens near its red trigger line. The RSI seems to be turning slightly higher, though, it is still relatively close to its 50 threshold. Yet, positive corrections cannot be excluded as long as the price [..]

Technical Analysis – CHFJPY slips in bullish picture in medium term

Posted on February 10, 2020 at 11:20 am GMT

CHFJPY has declined considerably after the pull back on the 113.10 zone and the 20-day simple moving average (SMA). Currently, the price is capped by the 40-day SMA and is moving near the minor rising trend line drawn from October 4 with the technical indicators moving lower. The RSI is standing below the 50 level and the MACD slipped beneath the trigger line in the positive zone. Immediate support is being provided by the ascending trend line above the 111.70 [..]

Technical Analysis – Gold’s climb restricted by Bollinger band and 23.6% Fibonacci

Posted on February 10, 2020 at 9:42 am GMT

Gold’s gradual incline – after reversing ahead of the 1,546 low – appears to have stalled between the 50-period simple moving average (SMA) and the upper-Bollinger band residing at the 23.6% Fibonacci retracement of the up move from 1,458.42 to 1,611.28. The short-term oscillators reflect improving positive momentum. The MACD, above its red trigger line, has risen above the zero mark, while the RSI is increasing in the bullish territory. Moreover, all SMAs have kept their bullish picture intact. A [..]

Legal disclaimer: The material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instruments. XM accepts no responsibility for any use that may be made of these comments and for any consequences resulting in it. No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. The research and analysis does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it.

It has not been prepared in accordance with legal requirements designed to promote the independence of research, and as such it is considered to be marketing communication. Although we are not specifically constrained from dealing ahead of the publication of our research, we do not seek to take advantage of it before we provide it to our clients. We aim to establish, maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. We operate a policy of independence, which requires our employees to act in our clients’ best interests and to disregard any conflicts of interest in providing our services.

CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losing all of your invested capital, so please make sure that you fully understand the risks involved.

How can we help?

Live Chat Terms

How to Access

Telegram Chat Terms

Technical Analysis