Technical Analysis / Page 588

Technical Analysis – EURJPY’s climb consolidates but sustains its positive picture

Posted on October 30, 2019 at 10:21 am GMT

EURJPY has adopted a sideways market after the ascent which commenced on October 3, with weakened directional momentum undecided. Nevertheless, buyers are attempting to revisit the fresh high of 121.46 after moving back above the 40-period simple moving average (SMA) within the sideways market. The short-term oscillators reflect indistinct signals – trading around their neutral marks – despite somewhat improving. The MACD is in the positive zone, slightly above its red trigger line and the zero mark, while the RSI [..]

Technical Analysis – GBPUSD could trade positive-to-neutral in short-term

Posted on October 30, 2019 at 8:24 am GMT

GBPUSD erased a small part of its gains that drove the price near the 1.3000 key resistance area but the 1.2800 mark, which is currently viewed as a nearby support, curbed the downside correction. The short-term bias is currently looking positive-to-neutral as the RSI is reversing back towards its 70 overbought mark and the MACD keeps losing momentum below its signal line. On the other hand, trend signals seem to be turning even positive as the 20-day simple moving average [..]

Technical Analysis – Gold halts further losses, hovers around 23.6% Fibonacci

Posted on October 30, 2019 at 7:46 am GMT

GOLD has stalled around 1488, which is the 23.6% Fibonacci retracement of the up leg from 1266.20 to 1556.92. The precious metal seems to be skewed towards a short-term negative outlook after the price reversed back down from 1517 levels and below the simple moving averages (SMAs) but is expected to remain within its trading range. The short-term oscillators suggest a pause in the negative directional momentum. The MACD is below its red trigger line in the negative zone, but [..]

Technical Analysis – WTI oil futures cautiously positive; pullback steers price below 200-SMA

Posted on October 29, 2019 at 3:54 pm GMT

WTI oil futures are leaning towards a positive short-term picture despite penetrating back below the 200-period simple moving average (SMA). The short-term oscillators are confirming a neutral-to-positive outlook unfolding, with the price now breaking back above the 200-period SMA. The RSI’s negative momentum is easing, heading higher in the bearish territory to the neutral mark. The MACD, despite having fallen below its red trigger line, holds above the zero line. However, the Kijun-sen and 200-period SMA are adopting a horizontal [..]

Technical Analysis – EURUSD capped by cloud top; neutral in short term

Posted on October 29, 2019 at 6:43 am GMT

EURUSD has turned neutral in the short term after falling into to the Ichimoku cloud. But despite being restricted by the cloud top, the risks for the pair are to the upside as the RSI is still in positive territory, though it has flatlined, while the MACD remains some distance above zero, having just slipped below its red signal line. Another positive signal is from the Tenkan-sen line, which continues to rise and increase its distance from the Kijun-sen line. [..]

Technical Analysis – CADJPY climbs above 200-day SMA but gains capped

Posted on October 25, 2019 at 1:18 pm GMT

CADJPY buyers have pushed higher stretching the price to 83.22, which is the previous high of July 12, where advances halted. Buyers managed to surpass the 200-day simple moving average (SMA), following a rally that commenced on October 3, recouping all the losses since July. The short-term oscillators reflect a stall in positive momentum. The MACD has eased slightly but remains above its red trigger line in the positive region, while the RSI hovers flat underneath the 70 level. Further [..]

Technical Analysis – USDCAD increasingly bearish after breaking below uptrend line

Posted on October 25, 2019 at 7:43 am GMT

USDCAD came to a stop at the 1.3068 support coming from the swing low of February 1, after breaching the uptrend line drawn from 2017’s low. Sellers have kept the price below the trendline and therefore further declines are on the table, something also backed by the downward slopes of the 20-, 50- and 100-day simple moving averages (SMAs). The short-term oscillators reflect some easing but remain bearish suggesting more losses could unravel. The MACD has smoothed slightly but is [..]

Technical Analysis – UK100 stock index soars above 200-SMA; gains halted at 76.4% Fibonacci

Posted on October 24, 2019 at 3:13 pm GMT

UK100 stock index rallied above the 200-period simple moving average (SMA) on the four-hour chart and up to 7,337, reinforcing the 3-week positive picture and confirming the bounce off the 7,000 level on October 3. The MACD is rising above its red trigger line in the positive zone, favoring more improvements. Despite the pause in the market, a bullish crossover of the 100-period SMA by the 50-period has occurred, while the Tenkan-sen line has distanced itself above the Kijun-sen line, [..]

Technical Analysis – Twitter stock turns bearish below 100-day SMA and uptrend line

Posted on October 24, 2019 at 12:03 pm GMT

Twitter stock price penetrated below the 100-day simple moving average (SMA) and the uptrend line pulled from December 24, indicating that the nine-month up wave, may have come to an end. The push further down is currently restricted by the 38.53 support, which is the 61.8% Fibonacci retracement of the up leg from 34.00 to 45.81. Whilst the 100- and 200-day SMAs retain their upwards slope, the 20- and 40-day SMAs have turned downwards, aiding further losses, with the 20-day [..]

Technical Analysis – USDJPY consolidates underneath key resistance level

Posted on October 24, 2019 at 8:31 am GMT

USDJPY has moved sideways along the recently breached 108.42 level, which is the 50.0% Fibonacci retracement of the down leg from 112.39 to 104.45. Bound between 109.00 and 108.42, the positive picture seems to be holding for now. With the pause in the market, the MACD has eased, but remains slightly above its red trigger line in the positive region, while the RSI hovers midway in bullish territory – both promoting an improving picture. Moreover, the bullish crossover of the [..]

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