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Technical Analysis

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Technical Analysis – GBPAUD rallies above 200-day SMA, plotting huge gains

Posted on October 15, 2019 at 1:59 pm GMT

GBPAUD buyers rallied the pair above the 200-day SMA and nearby swing peaks, after an aggressive bounce off the 50- and 100-day simple moving averages (SMAs), located just above the uptrend line. The bulls are attempting to plot more gains, something also backed by the rising Tenkan-sen and Kijun-sen lines. The short-term oscillators also concur with the positive view. The MACD has moved above its red trigger line and deep into positive regions, while the RSI has claimed the 70-level [..]

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Technical Analysis – US100 index bulls wait above symmetrical triangle

Posted on October 15, 2019 at 1:10 pm GMT

US100 stock index looks to be filling a symmetrical triangle in the daily chart as the market managed to register another higher low this month at 7,460 but it remained below the resistance line drawn from the 8,033 record high. According to the RSI and the MACD an upward move is more likely than a downside correction as both indicators are pointing up in the bullish area. Questions, however, remain about whether the bulls are strong enough to close above the downward-sloping [..]

Technical Analysis – WTI oil futures resume slide, return focus to the downside

Posted on October 15, 2019 at 9:27 am GMT

WTI oil futures are looking increasingly bearish after slipping below the 50-period simple moving average (SMA). The short-term oscillators are turning negative. The RSI is accelerating the negative momentum, falling further below the neutral mark. The MACD is also pointing to negative pressures, dipping below the zero line. However, the SMAs reflect mixed signals and thus could yet manage to confine the price within a sideways market. To the upside, buyers have a tougher task in hand, as they would need [..]

Technical Analysis – GBPUSD violates March downtrend; cautiously bullish in short-term

Posted on October 15, 2019 at 7:42 am GMT

GBPUSD traders turned indecisive following last week’s impressive rally that drove the price slightly above the 1.2700 level and just below the 200-day simple moving average (SMA). The short-term momentum indicators suggest a cautiously bullish bias as the RSI and the Stochastics maintain an upward direction not far below the overbought territory. Regarding the market trend, however, technical signals are more optimistic since the pair has created a higher high around 1.2580 and a higher low at 1.2200, violating the downtrend [..]

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Technical Analysis – CHI50 index remains positive; bulls falls short of the April 2019 high

Posted on October 14, 2019 at 3:35 pm GMT

CHI50 stock index seems to have lost some momentum as sellers reversed the index back down to the previous peak of 14,068 from July 1. The rally from the low of 13,373, failed to reach the April 2019 high of 14,239, but persisting positive signals keep it intact. The short-term oscillators reflect a stall in price. The MACD is deep in positive territory and has started to turn down, towards its red trigger line. The RSI, although having declined marginally [..]

Technical Analysis – Gold consolidates, capped by SMAs

Posted on October 14, 2019 at 10:10 am GMT

Gold buyers are attempting to tackle the converging simple moving averages (SMAs) in the sideways market. The 20-period SMA, from a flattened state deflected off the horizontal 100-period SMA completing a bearish crossover of the 50-period SMA, suggesting that the commodity is leaning more towards a short-term negative outlook. The short-term oscillators reflect weakening negative momentum. The MACD although below its red trigger line in the negative zone, looks to cross above it, while the RSI beneath its 50-level, is [..]

Technical Analysis – EURUSD remains in a downtrend despite rally

Posted on October 14, 2019 at 7:17 am GMT

EURUSD rose as high as 1.1062 following the breach of the four-month-old downward-sloping line but the technical indicators signaled overbought conditions, with the price correcting slightly lower and towards the key 1.1025 barrier. The short-term bias is looking bullish to neutral in the four-hour chart as the RSI is heading towards its 50 neutral mark and the MACD is losing momentum towards its red signal line. In terms of market trend, the bullish crossover between the 20- and the 200-period [..]

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Technical Analysis – GER30 index rallies above 200-period SMA

Posted on October 11, 2019 at 1:46 pm GMT

GER30 stock index extended higher as the bulls overcame the key resistance of 12,150, where the 50- and 200-period simple moving averages (SMAs) crossed each other. The bulls seem to still be in control as backed by the upward sloping 200-period SMA and the recent turning up of the 50- and 100-period SMAs. The short-term oscillators reflect positive momentum is intact. The MACD is ascending and has distanced itself above its red trigger line and into the positive region, while [..]

Technical Analysis – USDCAD bears reverse below 200-day SMA and 50.0% Fibonacci

Posted on October 11, 2019 at 9:33 am GMT

USDCAD trades between the converging simple moving averages (SMAs) with the sellers attempting to move underneath the 50-day SMA, after a deflection off the upper band of a two-month trading range. The signals from the tangled SMAs are indistinct. However, the MACD, although marginally above its red trigger line in the positive zone, looks to cross beneath it, while the RSI is flirting with the uptrend line, which has presently merged with the neutral 50 mark. Despite a near term [..]

Technical Analysis – GBPCHF looks overbought after steep rally

Posted on October 11, 2019 at 7:22 am GMT

GBPCHF staged an impressive rally on Thursday, recouping most of the losses recorded since mid-September and rising well above its simple moving averages (SMA) and the Ichimoku cloud on the four-hour chart. The forceful upside correction, however, looks fragile as the fast-stochastics and the RSI signal overbought conditions, indicating that the bullish action is running out of steam and downside pressures may occur in the short-term. To keep the bulls in play, the price needs to hold above 1.2380 and more importantly on top of [..]

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