Technical Analysis / Page 589

Technical Analysis – EURGBP looks for a rebound but nearby resistance seems strong

Posted on October 24, 2019 at 7:22 am GMT

EURGBP is searching for a new lower trough around the 0.8600 support area to add more credibility to the downward pattern started from the 10-year high of 0.9323. The fast-Stochastics and the RSI hint that the odds for an upside correction are rising as the former has already rounded up in the oversold area and the latter has been flattening for a while around its 30 oversold mark. Resistance around 0.8655, where the 78.6% Fibonacci of the upleg from 0.8470 [..]

Technical Analysis – Boeing stock flirts with 23.6% Fibonacci after rebounding near lows

Posted on October 23, 2019 at 3:27 pm GMT

Boeing stock buyers reversed the price back up to 349, which is the 23.6% Fibonacci retracement of the down leg from 445.08 to 319.34 to limit further losses. The MACD and the 20-day simple moving average (SMA) are skewed towards a short-term bearish picture. Yet, the RSI and the stochastics reflect strengthening positive momentum, with the RSI rising out of the oversold zone, while the %K has moved above 20 by completing a bullish cross of its red %D line. If [..]

Technical Analysis – AUDUSD stuck in sideways market; ascent restricted by bears

Posted on October 23, 2019 at 11:36 am GMT

AUDUSD sellers ceased further gains, returning the price beneath the 100-day simple moving average (SMA). The bears are now attempting to penetrate below the June low of 0.6831. The MACD’s short-term positive picture and the upward slopes of the mid-Bollinger band and the 40-day SMA, suggest the pair may improve. However, with the price caught below the downtrend line and the declining 100- and 200-day SMAs, it seems more likely that the sideways move may endure. Further keeping the price below [..]

Technical Analysis – Tesla stock unable to breach swing high; returns to 200-day SMA

Posted on October 23, 2019 at 7:51 am GMT

Tesla stock currently holds at the 200-day simple moving average (SMA) located at 254, which is also the 38.2% Fibonacci retracement of the down leg from 379.21 to 176.65. Sellers reversed the price – ahead of the resistance at 266 from July 24 – back down, denying further gains. The short-term oscillators are cautiously skewed towards a price improvement. The MACD, remaining above its red trigger line in the positive zone, has declined closer to it. Moreover, in the bullish [..]

Technical Analysis – GBPJPY retraces below 5-month high but developing uptrend still intact

Posted on October 23, 2019 at 7:42 am GMT

GBPJPY confirmed that the rebound off the 3-year low of 126.53 is more than temporary after rallying above the 135.50 resistance area. Backing this is the intact bullish cross and the recent turn up in the slopes of the 20- and 50-day simple moving averages (SMAs). The bullish action gained extra credibility following the break above the 50% Fibonacci of the 149.47-126.53 bearish wave and the 200-day SMA, with the market turning overbought near the five-month high of 141.47 according to [..]

Technical Analysis – EURCHF consolidates around upper Ichimoku band and 100-day SMA

Posted on October 22, 2019 at 2:32 pm GMT

EURCHF is stuck between 1.0965 and 1.1063, and specifically around 1.0995 area where the upper band of the Ichimoku cloud and the 100-day simple moving average (SMA) are located. The gradual ascent of the price backed by the upward sloping 20- and 50-day SMAs, as well as, the intact bullish cross of the rising Tenkan-sen above the Kijun-sen line, suggest further gains could unfold. Although the recent slowdown in short-term oscillators reflects the stall in the price, the indicators continue to [..]

Technical Analysis – EURNOK slips below record highs; could soften in short-term

Posted on October 22, 2019 at 11:59 am GMT

EURNOK entered uncharted territory after closing strongly bullish above the previous peak of 10.09, with the price rising to an all-time high of 10.24 on Friday. The market has slightly softened since then and the fact that the price has been fluctuating around the upper Bollinger band suggests that a weaker performance cannot be ruled out in coming sessions if the RSI makes its way towards its 50 neutral mark as well. In the negative scenario, the bears could lead [..]

Technical Analysis – GBPUSD shows signs of some stalling but still looking bullish

Posted on October 22, 2019 at 10:41 am GMT

GBPUSD seems undecided of direction after driving the price marginally above the 1.3000 handle. The aggressive rally that commenced on October 10, recouped nearly three quarters of losses in the drop from the high of 1.3381. The Tenkan-sen and Kijun-sen lines have now merged and turned flat, indicating that the short-term momentum has weakened. The softness in the RSI, that is currently pushing efforts to exit the overbought territory, is also backing the easing in positive momentum. Regarding the market [..]

Technical Analysis – EURJPY bulls challenge long-term descending trendline

Posted on October 22, 2019 at 7:41 am GMT

EURJPY added more than 3.0% to its value so far this month, getting closer to the 200-day simple moving average (SMA) that remains untouched over the past year and could play a key role for the rally to keep going. Yet, with the market trading in the crossroads of the key 121.36 resistance and a long-term descending trendline at a time when the RSI is fluctuating above its 70 overbought mark, speculation is rising that the bullish action could soon run out of fuel. A decisive [..]

Technical Analysis – AUDJPY tests swing peak, putting 6-month down move into question

Posted on October 21, 2019 at 2:48 pm GMT

AUDJPY buyers are currently encountering a crucial resistance level at 74.48, after surpassing the Ichimoku cloud. Backing the short-term positive picture is the 50-day simple moving average (SMA) which has adopted an upwards-sloping demeanor and the Tenkan-sen which has fulfilled a bullish crossover of the Kijun-sen line. Also supporting the improving positive outlook are the signals from the short-term oscillators. The stochastics have ascended into the overbought zone but the %K has yet to cross below the red %D line, [..]

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Technical Analysis