Technical Analysis / Page 580

Technical Analysis – AUDUSD eases sideways as 23.6% Fibonacci continues to halt declines

Posted on November 27, 2019 at 12:58 pm GMT

AUDUSD’s descent seems to have paused yet again at the 0.6767 level, which is the 23.6% Fibonacci retracement of the down move from 0.7081 to 0.6670, turning the pair sideways. Further backing this view is the squeeze in the Bollinger bands and the flattening in the 50- and 200-period simple moving averages (SMAs). The short-term oscillators reflect the stalling in the negative outlook. The MACD remains in the negative area but above its red trigger line, while the RSI indicates [..]

Technical Analysis – EURJPY moves sideways around 120.00 mark; cautiously positive

Posted on November 27, 2019 at 8:43 am GMT

EURJPY looks to be undecided over the last two weeks, following the decline from the high of 121.46. Furthermore, momentum seems to have evaporated, something also backed by the 40- and 100-period simple moving averages (SMAs), which are turning slightly sideways. The short-term oscillators, although suggest a dry up in directional momentum, are reflecting a marginal improvement in the positive picture. The MACD is above its red trigger line and has just moved above zero into the positive zone, while [..]

Technical Analysis – GBPUSD continues to consolidate; bears flirting with the 200-MA

Posted on November 26, 2019 at 2:11 pm GMT

GBPUSD is trading around the upward sloping 200-period simple moving average (SMA) after the bounce off the 1.2818 support, which is the 23.6% Fibonacci retracement of the up leg from 1.2194 to 1.3011. The pair still looks undecided, having held in a sideways market from 1.3011 to 1.2768 for around a month. The short-term oscillators also reflect mixed signals within momentum. The MACD indicates weakening negative momentum as it has moved above its red trigger line. Yet, the RSI’s view [..]

Technical Analysis – WTI oil futures hold onto bullish bias but momentum is weakening

Posted on November 26, 2019 at 8:31 am GMT

WTI oil futures have eased slightly off the 58.56 resistance, which is the 61.8% Fibonacci retracement of the down leg from 63.22 to 50.98, following the recent price appreciation from the bounce off the 200-period simple moving average (SMA). The short-term oscillators reflect a stall in the positive momentum. The MACD, in the positive zone has slipped below its red trigger line, while the RSI is decreasing in the bullish region and is nearing the 50-level. However, as the price [..]

Technical Analysis – EURSEK corrects below the 200-day SMA; buyers push back

Posted on November 25, 2019 at 2:51 pm GMT

EURSEK buyers are attempting to retake control after sellers reversed the price off the capping 40-day simple moving average (SMA) and below the 100- and 200-day SMAs. The short-term oscillators concur with the short-term downtrend – both trading in bearish territory – but reflect conflicting signals in momentum. The MACD has slipped back below its red trigger line, while the RSI is improving in the bearish zone. Moreover, the SMAs are still bullish despite some easing in their slopes, while [..]

Technical Analysis – JP225 index bounces off 200-SMA; short-term bias positive but weak

Posted on November 25, 2019 at 11:14 am GMT

Japan’s 225 stock index failed to cross below the 200-period simple moving average (SMA) on Thursday on the four-hour chart and instead rallied back into the 23,000 area and closer to the upper surface of the Ichimoku cloud. The RSI and the MACD also improved but have yet to expand comfortably in the bullish area, suggesting a weak positive bias for the short-term. Buyers will be waiting for a decisive close above the 23,345 area and the surface of the Ichimoku cloud to [..]

Technical Analysis – Gold moves sideways, sellers still eye lower levels

Posted on November 25, 2019 at 9:50 am GMT

Gold sellers are attempting to steer past the recent swing low of 1456 to put the asset back on a negative track. Despite the rebound off 1446 – which is the 38.2% Fibonacci retracement of the up leg from 1266.20 to 1556.92 – and the consolidation in price, the 200- and 100-day simple moving averages (SMAs) still suggest the commodity could lose further ground. The short-term oscillators lean towards the negative picture even though the market seems to have paused. [..]

Technical Analysis – EURUSD confirms negative trend signals

Posted on November 25, 2019 at 8:04 am GMT

EURUSD reversed sharply lower last week after failing to close decisively above the 1.1072 broken neckline of the double top formation and the 50% Fibonacci of the downleg from 1.1174 to 1.0988, confirming a trend reversal in the four-hour chart. The trend indicators are also discouraging. The 20-period simple moving average could not rise above the 200-period SMA, and with the price crossing under the Ichimoku cloud, expectations are for the trend to remain on the downside in the short-term. As regards the [..]

Technical Analysis – Netflix stock’s bullish bias improves, reeling in the 200-day MA

Posted on November 22, 2019 at 1:59 pm GMT

Netflix stock is overtaking the 308.30 swing high level, which is a pullback level where sellers previously took full control. The push up backs the rebound off the nine-month low of 252.13, reaffirming the bullish bias. Further supporting this view is the upwards slopes in the 20- and 40-day simple moving averages (SMAs) and the bullish crossover between the two. The short-term oscillators reflect strengthening positive momentum. The MACD, in the positive zone, is rising above its red trigger line, [..]

Technical Analysis – WTI oil futures overbought after capturing one-month high

Posted on November 22, 2019 at 1:06 pm GMT

WTI oil futures for January delivery closed above the 200-period moving average (SMA) on the four-hour chart on Wednesday and spiked to a one-month high of 58.64, confirming a new higher low at 54.84. The price is currently consolidating around 58.60, this being the 61.8% Fibonacci of the 63.22-50.98 downleg, which is expected to challenge the bulls in the short-term as the RSI and the Stochastics flag overbought conditions – a sign that positive momentum may soften. A downside reversal is expected [..]

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