Technical Analysis / Page 562

Technical Analysis – EURNZD in a slippery slope; bears look at 5-month low

Posted on January 24, 2020 at 11:29 am GMT

EURNZD is holding to losses, slipping beneath the short-term moving averages in the daily timeframe. The strong sell-off day on Thursday is driving the pair towards the five-month low of 1.6615. The MACD is heading lower and is approaching the red trigger line for a bearish cross, strengthening its bearish momentum, while the RSI dropped below the 50 level with aggressive movement. Should the price decisively close below 1.6615, this could extend the downtrend towards the 1.6520 barrier acting as [..]

Technical Analysis – Apple stock extremely positive; indicators weaken

Posted on January 24, 2020 at 9:51 am GMT

Apple stock price is completing the fifth consecutive green month, trading near the record high of 319.85. Practically everything paints a bullish picture as the price is holding well above the simple moving averages (SMAs) and the long-term ascending trend lines. The only warning signal comes from the MACD, which seems to have topped deep within the positive territory and has slipped beneath its red trigger line. The stochastic is also extremely high but is returning lower as it posted [..]

Technical Analysis – EURJPY sell-off finds support at trendline; golden cross favors uptrend

Posted on January 24, 2020 at 8:29 am GMT

EURJPY could not lift the 122.86 bar last week and reversed south to test the ascending trendline drawn from the 2 ½-year low of 115.85. The falling RSI which has crossed under its 50 neutral mark suggests that the bearish bias has not faded yet. However, with the Stochastics already located within the oversold area and the price trading near the supportive trendline, an upside correction would not be a surprise. Should the bears break the trendline, the 120.18 level, [..]

Technical Analysis – USDCAD holds bearish below trendline despite positive indication

Posted on January 24, 2020 at 8:17 am GMT

USDCAD recent push up from the 1.2950 low looks to be capped by the 50- and 100-day simple moving averages (SMAs) with sellers pushing back down. Aiding the negative picture is the restrictive trendline and all the SMAs, which are sloping downwards. That said, for now, reflecting conflicting signals are the short-term oscillators that suggest that positive momentum is present. The MACD is increasing above its red trigger line in the negative region and it has reached its zero mark, [..]

Technical Analysis – AUDJPY loses steam towards supportive trendline; positive picture questioned

Posted on January 23, 2020 at 2:22 pm GMT

AUDJPY is cautiously positive in the very short-term as the lower high throws into question the improving outlook. The pair is being supported by the 50-day simple moving average (SMA) keeping optimism on the table. Additionally, the nearing bullish crossover of the 200-day SMA by the 100-day one – around 74.50 – and the supportive trendline below, could sustain the ascent from the low of 69.94. The short-term oscillators suggest that positive momentum may be picking up, despite the recent [..]

Technical Analysis – NZDUSD fails to overcome SMAs; remains in bearish channel

Posted on January 23, 2020 at 10:34 am GMT

NZDUSD has been developing within a downward sloping channel over the last three weeks, remaining slightly below the short- and long-term moving averages. The price is in a downward correction move and more losses are expected if it fails to overcome the 0.6615 resistance level. The RSI is pointing slightly down in the negative territory, however, the MACD is still standing above the trigger line in the near term. Immediate support is coming from the 38.2% Fibonacci retracement level of [..]

Technical Analysis – Palladium futures non-stop rally shows no sign of fading

Posted on January 23, 2020 at 10:00 am GMT

Palladium futures are staging an extraordinary rally over the past three weeks and technically, there is no convincing signal at the moment that the uptrend could soon hit a strong turning point. Even though the RSI and the Stochastics have bounced back into the overbought territory, increasing the odds for a downside correction, the MACD has yet to show signs of reversing at a time when the price is still trading comfortably above the Ichimoku cloud and its simple moving averages [..]

Technical Analysis – USDJPY remains bullish despite recent correction

Posted on January 23, 2020 at 8:45 am GMT

USDJPY’s positive picture seems to be losing some fuel in the recent push up from the 107.76 level. The short-term oscillators suggest that the negative momentum is picking up. The MACD, in the positive region is only just above its red trigger line, while the RSI has dropped to its neutral mark. The Stochastics look bearish with the declining %K line distancing itself below its %D line and into the oversold region. That said, the fresh bullish crossover of the [..]

Technical Analysis – GBPCAD rallies towards one-month peak; could rise further

Posted on January 23, 2020 at 7:56 am GMT

GBPCAD posted an aggressive upside session on Wednesday, surpassing the 20- and 40-simple moving averages (SMAs) in the daily timeframe and gaining more than 200 pips. The price hit an almost one-month high today of 1.7295. Looking at momentum indicators, the RSI is moving north in the positive territory, approaching the 70 level, while the %K line of the stochastic entered the overbought zone. The MACD also supports this view as it is holding in the negative area but is [..]

Technical Analysis – GBPJPY supported by ascending trendline; neutral in short-term

Posted on January 23, 2020 at 7:44 am GMT

GBPJPY has been on the sidelines since mid-December but has been refusing to enter the Ichimoku cloud, with the RSI and the MACD suggesting that the indecisive mood may stretch into the short-term as both indicators appear muted near their neutral levels. The pair, however, also seems to be well supported by an ascending trendline drawn from the 3-year low of 126.53 and any decisive close below it could initiate fresh selling pressure, probably towards the 140.70 restrictive level, which is also [..]

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