Technical Analysis / Page 582

Technical Analysis – CADJPY captured in a downward channel, stalls at 200-day MA

Posted on November 19, 2019 at 3:09 pm GMT

CADJPY, although in a downward channel, looks undecided resting on the 200-day simple moving average (SMA). Directional momentum has disappeared as reflected in the short-term oscillators with the MACD and RSI flat at their neutral marks. Further backing this picture and implying that the pair may adopt a short-term side move are the SMAs, which are converging, with the 50-day SMA already starting to turn flat like the 100- and 200-day SMAs, while the 20-day SMA heads lower towards them. [..]

Technical Analysis – GBPUSD’s consolidation shows signs for a retest of recent high

Posted on November 19, 2019 at 9:46 am GMT

GBPUSD’s positive sentiment seems to be unbroken as the pair holds above the 200-day simple moving average (SMA), eyeing the fresh peak of 1.3011. The price bounced off previous peaks (now-turned-support) from June, repowering the positive signals of the MAs and the momentum indicators. The short-term oscillators suggest that positive momentum is improving. The MACD is still in the positive zone but below its red trigger line, looking to move back above it, while the RSI has risen close to [..]

Technical Analysis – EURCHF may extend positive momentum in short-term

Posted on November 19, 2019 at 8:04 am GMT

EURCHF staged a spectacular rebound last week to surpass its shorter-term simple moving averages (SMAs) and enter the Ichimoku cloud in the four-hour chart. Buyers seem to have the upper hand as the MACD keeps extending positive momentum, the RSI is comfortably above its 50 neutral mark, and the triple exponential average (TRIX) is preparing to turn positive, all flagging positive prospects in the short-term. A decisive close above the cloud would convince traders that more gains may follow, especially [..]

Technical Analysis – Twitter stock aggressively drops past 200-day MA

Posted on November 18, 2019 at 5:04 pm GMT

Twitter stock lost significant ground, gapping below the 200-day simple moving average (SMA) on October 24. The stock is holding its bearish demeanor as the 50-day SMA nears a bearish cross of the 200-day SMA, which would further back the negative picture. The ADX also confirms that a strong negative trend is in place. However, the short-term oscillators reflect some weakness in negative momentum and may warn of an approaching pullback. The MACD, is still deep in the negative zone [..]

Technical Analysis – US500 Index plots new high, flirts with 138.2% Fibonacci extension

Posted on November 18, 2019 at 2:41 pm GMT

US 500 stock index continues to gain ground after the push up on October 3, showing no definitive signs of retreating as it clocks yet another fresh all-time high of 3,128.12. The price has distanced itself above the Ichimoku cloud, as has the Tenkan-sen done above the Kijun-sen line, backing the positive picture. Furthermore, the ADX also implies a strong uptrend is in place. The short-term oscillators reflect some easing in positive momentum and could warrant a nearing pullback. The [..]

Technical Analysis – EURUSD looks bearish despite recent bounce off 23.6% Fibonacci

Posted on November 18, 2019 at 10:01 am GMT

EURUSD is trying to push over the upper boundary of the Ichimoku cloud at 1.1063 after the drop on November 4 bounced off the 1.1005 support, which is the 23.6% Fibonacci retracement of the down leg from 1.1411 to 1.0878. However, the bearish crossover by the downward sloping Tenkan-sen line leans toward a down move, while the turn back down in the 20-day simple moving average (SMA) reinforces the bigger negative picture. The short-term oscillators are still in the negative [..]

Technical Analysis – Gold stays within tentative descending channel

Posted on November 18, 2019 at 8:27 am GMT

Gold recouped a small portion of its losses last week to close slightly positive after finding support at 1,445 and near the bottom of a tentative descending channel. Despite the rebound, the price remained slightly below its 20- and 50-simple moving averages (SMAs) that maintain a bearish cross and under the Ichimoku cloud. Meanwhile in momentum indicators, signals are also discouraging as the RSI was unable to return above its 50 neutral mark and the MACD held stable below its red signal [..]

Technical Analysis – Disney stock cautiously positive; rallies to new all-time high

Posted on November 15, 2019 at 2:08 pm GMT

Disney stock’s recent jump to a fresh all-time high looks to be in line with the bigger bullish picture, however, the move may be running out of steam, as reflected in the Stochastics and the RSI, which have entered the overbought zone and now are starting to turn down. Despite this, the MACD is distancing itself above its red trigger line, moving deeper in the positive zone. Further backing the positive outlook, is the completed bullish crossover of the 20- [..]

Technical Analysis – Apple stock nonstop rally shows no sign of fading

Posted on November 15, 2019 at 1:45 pm GMT

Apple’s nonstop rally has yet to show signs of fading ahead of Black Friday sales. The market has been continuously printing new all-time highs since the close above 230.00, hitting a fresh top at 264.68 on Wednesday. Although the RSI looks to be changing direction to the downside in the overbought area and the MACD seems to be losing steam towards its red signal line, both indicators are still well into the positive territory. Trend signals also remain bright as [..]

Technical Analysis – GBPJPY sustains a neutral stance lasting nearly a month

Posted on November 15, 2019 at 9:53 am GMT

GBPJPY is currently below the 50-, 100- and 20-period simple moving averages (SMAs), having been bound within a trading range of 141.47 to 138.85 for almost a month. It is evident that directional momentum has evaporated, something also supported by the above mentioned SMAs which have joined and mostly adopted a horizontal bearing. The technical indicators are showing mostly a position of neutrality as they are trading around their neutral marks. Currently the MACD is in the negative zone, slightly [..]

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