Technical Analysis / Page 560

Technical Analysis – Copper strong sell-off towards 4-month low

Posted on January 30, 2020 at 9:39 am GMT

Copper with delivery in March 2020 is looking strongly bearish in the short-term after plunging below the eight-month high of 2.8825 on January 16. Prices hit a four-month low of 2.5115 and the technical indicators are all pointing to further negative momentum in the near term. The RSI is also in an oversold territory below 30 and is clearly pointing down, while the MACD is strengthening its bearish view below trigger and zero lines. Moreover, the 20- and 40-simple moving [..]

Technical Analysis – NZDUSD fades from 2019-year top; heads for supportive trendline

Posted on January 30, 2020 at 9:12 am GMT

NZDUSD’s decline from the beginning of the year off the peak of 0.6754 has retraced underneath the 200-period simple moving average (SMA) and approached the 50.0% Fibonacci retracement of the up leg from 0.6239 to 0.6754. Aiding negative momentum is the downward sloping 50-, 100-period SMAs and the red Tenkan-sen line which has distanced itself below its blue Kijun-sen line. Additionally, the MACD is marginally below its red trigger line deep in the negative region, while the RSI is attempting [..]

Technical Analysis – USDJPY falls below 109.00; approaches uptrend line

Posted on January 30, 2020 at 8:09 am GMT

USDJPY is holding losses below 109.00, dropping from the seven-month high of 110.28 and below the 20- and 40-day simple moving averages (SMAs). Also, the pair entered the Ichimoku cloud and is trying to slip beneath the 23.6% Fibonacci retracement level of the up leg from 104.45 to 110.28. Technically, the price could lose more ground in the short-term as the RSI is changing direction to the downside and towards its 30 mark, while the MACD oscillator keeps weaking below the trigger line and has neared the zero line. However, the stochastics are warning – as are above the oversold [..]

Technical Analysis – NZDJPY eyeing to capitalize on further loss of ground

Posted on January 29, 2020 at 2:05 pm GMT

NZDJPY seems to have stalled its two weeks decline from the 73.33 top around the 50.0% Fibonacci retracement of the up leg from 68.86 to 73.52. It appears that sellers are in the process of pushing the market lower, something also aided by the downward sloping simple moving averages (SMAs) and the approaching second bearish crossover of the 200-day SMA. The short-term oscillators suggest that negative momentum is increasing. The MACD is above its red trigger line but has flattened [..]

Technical Analysis – CADJPY strictly capped below 50-period SMA and 23.6% Fibonacci

Posted on January 29, 2020 at 1:47 pm GMT

CADJPY found strong resistance from the 50-day simple moving average (SMA) and the 23.6% Fibonacci retracement level of the upward wave from 78.48 to 84.55 near 83.11 earlier today. Questions are rising now about whether the market can sustain the downtrend line break in the coming sessions. The negative slope in the RSI, which runs comfortably below its 50 neutral mark is painting a bearish picture for the short-term trading. However, with the Stochastics searching for a bullish cross in [..]

Technical Analysis – EURCHF turns higher after recording 33-month bottom

Posted on January 29, 2020 at 11:03 am GMT

EURCHF reversed higher on Tuesday after the slip to a new 33-month low of 1.0664. In the longer timeframe, the price is still standing in a strong bearish mode since April 2019. From the technical view point, the RSI broke the descending line within the oversold region and exited/jumped above the 30 level. Moreover, the MACD oscillator is posting a bullish crossover with its trigger line in the negative area, suggesting a possible pullback in the short-term. The 20-day simple moving average [..]

Technical Analysis – EURJPY sustains bearish picture despite recent consolidation

Posted on January 29, 2020 at 9:40 am GMT

EURJPY has stalled around 119.80 after plunging from the six-and-a-half month high of 122.86 on January 16. The pair is currently capped by the 20-period simple moving average (SMA) and looks to be loading for another push down. Also backing this view are the downward sloping 20-, 50- and 100-period SMAs and the near completion of a bearish crossover of the 200-period SMA by the 100-period one. The short-term oscillators suggest that negative momentum may be picking up. However, the [..]

Technical Analysis – AUDUSD posts bullish doji after 10-day negative run

Posted on January 29, 2020 at 7:30 am GMT

AUDUSD plunged to a fresh three-month low of 0.6736 on Tuesday, creating a bullish doji candle, which is suggesting a possible rebound in the market on the short-term timeframe. The price is creating a pullback after a ten-day negative run, confirmed by the technical indicators. The stochastic oscillator is turning higher and the %K and the %D lines are posting a bullish crossover in the oversold zone. In addition, the RSI is pointing up marginally above the 30 level. Significant [..]

Technical Analysis – Microsoft stock takes a step back; bullish picture intact

Posted on January 28, 2020 at 4:43 pm GMT

Microsoft stock turned down from the fresh all-time high of 168.11 but its pullback seems to have stalled around the inside swing high of 160.60, where buyers have driven the price back up again. The pause in the market is also reflected in the Ichimoku lines – which have flattened – and the conflicting signals from the short-term oscillators. The MACD deep in the positive region has slipped below its red trigger line, while the RSI, ahead of its neutral [..]

Technical Analysis – Facebook stock cautiously bullish despite reversal off new all-time high

Posted on January 28, 2020 at 1:53 pm GMT

Facebook stock has pivoted from the fresh all-time high of 222.55, dropping past the 218.44 level, which is the previous historic high from 25 July 2018. The falling Tenkan-sen line and the technical indicators back the correction from the peak, reflecting strengthening negative momentum. The MACD in the positive zone has slipped below its red trigger line, while the RSI has extended its decline out of the overbought region towards its neutral mark. The Stochastics reflect a bearish bias with [..]

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