Technical Analysis / Page 567

Technical Analysis – GBPUSD holds bearish bias but strong support awaits near 1.2900

Posted on January 14, 2020 at 7:33 am GMT

GBPUSD has been negative from the beginning of the new year as the 1.3285 resistance seems to be a real struggle for the bulls. Technically, the price dropped beneath the 20- and 40-period simple moving averages (SMAs), challenging the Ichimoku cloud in the daily timeframe. The RSI is standing below its 50 neutral mark but is flattening, while the MACD oscillator is remaining below its trigger line and near the zero level, confirming the recent bearish view. Further declines could meet a [..]

Technical Analysis – EURCHF bears face big challenge around 32-month low

Posted on January 13, 2020 at 1:42 pm GMT

EURCHF found some footing around the 32-month low of 1.0780 last week and returned inside the trading range from 1.0810 to 1.1055. The MACD seems to be losing momentum below its red trigger line, the RSI is still hovering around its 30 oversold mark and the red Tenkan-sen is sloping down as well, while the blue Kijun-sen is still flattening, all signaling a more cautious trading in the short-term. Should weakness extend below the 32-month low of 1.0780 mark, support to downside movements could be initially detected within [..]

Technical Analysis – USDJPY rallies above long-term resistance trendline; 110 level in focus

Posted on January 13, 2020 at 10:50 am GMT

USDJPY finally climbed above the strong resistance trendline that has been capping upside corrections since mid-September 2018 and questions are rising now about whether the market can sustain the break in the coming sessions. The positive slope in the RSI, which runs comfortably above its 50 neutral mark is painting a rosy picture for the short-term trading. However, with the Stochastics searching for a bearish cross in the overbought area, it is reasonable to believe that the rally may appear [..]

Technical Analysis – JPMorgan stock hovers below record high; bullish in medium-term

Posted on January 13, 2020 at 10:41 am GMT

JPMorgan stock price is slightly lower since the pullback on the record high of 141.00 on January 2. In the very short-term, the market could maintain the downside correction if the RSI keeps sloping down and the MACD continues to lose momentum below its trigger line. Currently, the stock price is hovering within the red Tenkan-sen and the blue Kijun-sen lines. An extension to the downside and below the blue Kijun-sen line could meet the area between the 50-day simple [..]

Technical Analysis – GBPCAD loses ground; challenges supportive trendline

Posted on January 13, 2020 at 10:20 am GMT

GBPCAD at this time is challenging the 1.6960 level – a support where the pair had consolidated after a decline from the nine-month high of 1.7790 – where the uptrend line, drawn from the low on 3 September 2019 presently resides. The push down seems to be aided by strengthening negative momentum and the bearish crossover of the 50-day simple moving average (SMA) by the 20-day one. The short-term oscillators suggest negative momentum is picking up. The MACD, is declining [..]

Technical Analysis – EURUSD pushes for a rebound but bulls waiting above 1.1200

Posted on January 13, 2020 at 8:31 am GMT

EURUSD started the year on the negative side, closing with marginal losses for the second week. The pair, however, managed to pause its sell-off near the 50-day simple moving average (SMA) on Friday, where the 38.2% Fibonacci of the 1.1411-1.0878 downleg is located, retaining at the same time its upward direction off the 28-month low of 1.0878 alive. The 50% Fibonacci of 1.1144 is currently in target as the reversing RSI and the Stochastics are endorsing the recent positive correction [..]

Technical Analysis – Gold retreats within Ichimoku cloud; bears take control in near term

Posted on January 13, 2020 at 7:32 am GMT

Gold has declined considerably over the last couple of trading days after the touch on the almost seven-year peak of 1,611 on January 8. The price entered the Ichimoku cloud and is capped by the bearish crossover within the short-term 20- and 40-period simple moving averages (SMAs), assuming a negative correction. The technical indicators in the 4-hour chart seem to be neutral to bearish. The RSI indicator has just dropped beneath the 50 level with nearly flat momentum, while the [..]

Technical Analysis – Twitter stock gains ground from 10-Month low

Posted on January 10, 2020 at 1:37 pm GMT

Twitter stock’s recent improving picture looks to be assisted by the fresh bullish crossover of the 50-day simple moving average (SMA) by the 20-day one, as well as the strengthening momentum in technical indicators. The short-term oscillators reflect an improving outlook with the MACD slightly over zero, crossing above its red trigger line, while the RSI is rising in the bullish zone and nears its 70 level. However, the bearish overlap of the 200-day SMA by the 100-day one, and [..]

Technical Analysis – AUDJPY set for golden cross in upward sloping channel

Posted on January 10, 2020 at 11:57 am GMT

AUDJPY continues to post higher peaks and higher troughs within an upward sloping channel since late August, which keeps the broader outlook positive. Moreover, the 50-day simple moving average (SMA) looks ready to cross above the 200-day one soon, which would be another bullish sign. That said, both seem to be flattening out, signaling that upside momentum may be gradually losing steam. Short-term oscillators concur with the mildly bullish picture. The RSI just entered its positive zone, while the MACD [..]

Technical Analysis – Dollar Index futures bulls may face big challenge near the flat 200-day SMA

Posted on January 10, 2020 at 11:04 am GMT

The US dollar index futures rose above the short-term 20-day simple moving average (SMA) and is approaching the 40-SMA, creating the fourth green day in a row. The price is still developing within a downward sloping channel since October 2019. The fast Stochastics and the RSI, signal that the bearish action is running out of fuel and hence a rebound of the price off the line is likely as the indicators are moving up. Furthermore, the MACD oscillator surpassed the trigger line, completing a [..]

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