Technical Analysis / Page 593

Technical Analysis – USDSEK decline ceases at swing low and 38.2% Fibonacci

Posted on October 10, 2019 at 3:29 pm GMT

USDSEK attracted buyers around the 9.82 – 9.83 support region denying the bears further losses. Buyers are attempting to keep the positive picture in place, something also backed by the upward sloping simple moving averages (SMAs) and the uptrend line. The short-term oscillators reflect weakening negative momentum. The MACD has distanced itself under its red trigger line, and holds slightly above the zero line, while the RSI is in bearish territory and has turned back up before reaching the 30-level. [..]

Technical Analysis – AUDNZD looks neutral-to-bearish in short-term; long uptrend in focus

Posted on October 10, 2019 at 2:38 pm GMT

AUDNZD erased part of the August rebound after hitting a 10-month high of 1.0837, with the momentum indicators pointing now to a neutral-to-bearish short-term tendency. Τhe MACD keeps losing ground under its red signal line and the RSI has dropped marginally under its 50 neutral threshold and is flattening. The bigger picture, on the other hand, provides some positive trend signals for thought, as the pair is pushing efforts to escape the downward pattern it started two years ago, printing higher highs [..]

Technical Analysis – EURUSD rallies above 4-month-old downtrend line

Posted on October 10, 2019 at 12:37 pm GMT

EURUSD finally managed to rally above the four-month descending trendline and stretch towards a three-week high of 1.1033 on Thursday. On the four-hour chart, the short-term oscillators are all pointing upwards, suggesting that the bullish forces could stay intact. Despite that, traders should treat the upside correction carefully as the RSI and the Stochastics approach overbought territory at a time when the price is also flirting with the upper Bollinger band. A decisive close above 1.1025 could see the price rising until the 1.1070 [..]

Technical Analysis – EURJPY holds a bull flag near key resistance area

Posted on October 10, 2019 at 10:27 am GMT

EURJPY picked up steam on Thursday and hit two-week highs above the Ichimoku cloud in the four-hour chart, with the positive momentum in the RSI and the MACD painting a bright picture for the short-term. The area around 118.43, where the 38.2% Fibonacci of the upleg from 115.85 to 120.00 lies, is currently blocking the bullish action. If this resistance holds, the rally may take a breather around the 118.60 barrier before heading up to the 119.00 level and the [..]

Technical Analysis – USDJPY remains bearish within 107 area

Posted on October 10, 2019 at 10:23 am GMT

USDJPY buyers seem to have a challenging resistance region of 107.49 – 107.80 to overcome, ahead of the restrictive 108.42 level, which is the 50.0% Fibonacci retracement of the down leg from 112.39 to 104.45. Although the price action is skewed to the downside, it remains between the 50- and 100-day simple moving averages (SMAs). The short-term oscillators and the flat Tenkan-sen suggest that directional momentum has evaporated. The MACD has distanced itself under its red trigger line, barely holding [..]

Technical Analysis – GBPJPY slows selling near key support; bias still bearish

Posted on October 10, 2019 at 7:29 am GMT

GBPJPY bears turned busy around the key barrier of 130.68 this week, a break of which could put the rebound off 3-year lows in question. A resumption of the negative momentum is possible according to the MACD which continues to strengthen under its red signal line, while the RSI needs to pierce above its 50 neutral mark to reduce downside risks. Should 130.68 give up support, the spotlight will shift to the 128.00 mark once the 129.00 level is surpassed. Further down, [..]

Technical Analysis – EURSEK rallies to log new multi-year high

Posted on October 9, 2019 at 2:28 pm GMT

EURSEK buyers insist on moving higher, something also suggested by the upward sloping Tenkan-sen and Kinjun-sen lines. The bulls have maintained control in the rally that commenced on September 25, and it seems that their focus is on higher levels of more than a decade ago. The short-term oscillators reflect increasing positive momentum. The MACD is distancing itself from its red trigger line in the positive region, while the RSI flirts with the 70-level, despite marginally already in overbought territory. [..]

Technical Analysis – AUDUSD capped by 40-day SMA after reversal off multi-year low

Posted on October 9, 2019 at 10:13 am GMT

AUDUSD buyers are attempting to retake control after the restricting 40-day simple moving average (SMA), halted the rally, which commenced off the fresh multi-year low of October 2. Momentum seems to have stalled, as also reflected by the short-term oscillators, which contradicts the bigger negative picture. The MACD, which is in negative areas and marginally below its red trigger line, looks to move above it, while the RSI appears to reclaim its 50-level, implying a more positive outlook. On the [..]

Technical Analysis – WTI oil futures may retest the bottom as bearish bias holds

Posted on October 9, 2019 at 7:37 am GMT

WTI oil futures for November delivery turned indecisive after failing to pierce the floor around the 23.6% Fibonacci of the downleg from 76.87 to 42.53 last week. The short-term bias,on the other hand, remains negative as the price is trending below its moving averages, the RSI is showing no improvement below its 50 neutral mark, and the MACD keeps strengthening under its red signal line. A breach of the 23.6% Fibonacci of 50.87 could initially stall near 49.40 and then around the [..]

Technical Analysis – GBPNZD retraces to 38.2% Fibonacci level after bears deny breach of high

Posted on October 8, 2019 at 3:39 pm GMT

GBPNZD bears are trying to push beneath the 1.9342 level, which is the 38.2% Fibonacci retracement of the up leg from 1.8275 to 2.0000. Dominating sellers corrected the price back down – plotting lower lows and lower highs – concurring with the negative picture from the momentum indicators. The short-term oscillators reflect strengthening negative momentum. The MACD, although it is in positive areas, has distanced itself below its red trigger line, while the downward sloping RSI has declined into bearish [..]

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