Technical Analysis / Page 60

Technical Analysis – Has McDonald’s bull run peaked?

Posted on January 17, 2024 at 9:22 am GMT

McDonald’s stock fails to post new record high Technical outlook shift to the bearish side The global fast-food chain McDonald’s had been in a clear uptrend from mid-October to early January, gaining 20% from a low of 245.51 to a high of 297.73. However, the strong bullish sentiment was not enough to send the price above July’s record high of 299.10, with the stock shifting to the sidelines in the aftermath. What is concerning is that the short-term sideways [..]

Technical Analysis – NZDUSD plummets below 50-day SMA

Posted on January 17, 2024 at 8:31 am GMT

NZDUSD extends its recent bearish leg Violates 50-day SMA and eyes 200-day SMA Oscillators endorse the recent dive NZDUSD had been in a steep uptrend since its 2023 low of 0.5772, generating consecutive higher highs. However, the advance stalled around the 78.6% Fibonacci retracement of the 0.6536-0.5772 downleg, with the pair experiencing a strong pullback. If bearish pressures persist and the price crosses below the 200-day simple moving average (SMA), immediate support could be met at the 38.2% Fibo of 0.6064. Dipping beneath [..]

Technical Analysis – Gold moves horizontally in near term

Posted on January 17, 2024 at 8:24 am GMT

Will gold extend its negative wave below 2,013? Holds beneath SMAs and Ichimoku cloud Technical oscillators suggest bullish correction Gold prices have been posting a negative wave over the last two days in the 4-hour chart, holding beneath the Ichimoku cloud and the short-term moving average lines. The 2,013 level is significant for traders as it failed several times in the past to have a closing session beneath it. So, any movements lower could endorse the bearish bias. Technically, the [..]

Technical Analysis – USDJPY rallies ahead of key market events

Posted on January 17, 2024 at 8:06 am GMT

USDJPY continues its upward trend; third consecutive green session It now tries to overcome a very busy resistance area Most momentum indicators support the current upleg USDJPY is recording its third consecutive green candle today and it is now trying to overcome the busy 146.22-147.71 area. It has been an aggressive rally from the December 28, 2023 low of 140.24, cancelling out a good part of the November-December 2023 downleg. The market is preparing for some key events over the next [..]

Technical Analysis – USDCAD breaks above downtrend line

Posted on January 16, 2024 at 1:03 pm GMT

USDCAD surges after breaking a downtrend line MACD and RSI detect positive momentum A dip below 1.3345 is needed to turn the picture bearish again USDCAD traded sharply higher today, after it broke above the downtrend line drawn from the high of November 1. The pair is currently respecting a new shorter-term upside support line taken from the low of December 29 and has just poked its nose above the 1.3480 zone, marked by the inside swing low of December [..]

Technical Analysis – US 30 cash index range-trading could end soon

Posted on January 16, 2024 at 9:46 am GMT

US 30 index continues to trade within a tight range below its all-time high Aggressive move higher from the October lows has probably ended Stochastic oscillator ready to send a strong bearish signal The US 30 cash index is in the red today as it continues to range-trade a tad below its recent all-time high of 37,813. The impressive rally from the October 27, 2023 low of 32,324 has probably ended as the market appears to be in a waiting [..]

Technical Analysis – AUDUSD slips to 1-month low

Posted on January 16, 2024 at 9:32 am GMT

AUDUSD posts a new negative wave RSI looks oversold 50- and 200-period SMAs ready for bearish cross AUDUSD is plunging towards a fresh one-month low of 0.6606 today, confirming the negative structure that started from 0.6870. Technically, the short-term risk is leaning to the downside. The MACD oscillator is extending its negative momentum beneath its trigger line in the bearish territory; however, the RSI is holding beneath the 30 level but is ticking marginally up, suggesting that the latest spike in the price [..]

Technical Analysis – GBPUSD slides but remains stuck in rangebound pattern

Posted on January 16, 2024 at 9:29 am GMT

GBPUSD experiences losses in the past couple of sessions But its short-term sideways structure holds Momentum indicators turn slightly negative GBPUSD had been trending higher within an upward sloping channel, posting a fresh four-month peak of 1.2826 in late December. Nevertheless, the rally seems to have taken a breather, with the price trading without a clear direction since the beginning of the year. Given that the short-term oscillators are providing cautiously negative signals, the bears could attempt to push the price [..]

Technical Analysis – EURJPY sustains short-term bullish structure

Posted on January 16, 2024 at 9:29 am GMT

EURJPY takes a breather after one-month high A break above the 160 area is required EURJPY has been moving back and forth within the 158.50-160.00 region following last week’s aggressive bounce to a one-month high of 160.17. Technically, the short-term range is formed by the 50% and 61.8% Fibonacci retracement levels of the previous downfall, but the series of higher highs and higher lows that started from December’s trough are still promising. Moreover, the RSI is still fluctuating above its 50 neutral mark [..]

Technical Analysis – Morgan Stanley stock slides ahead of earnings

Posted on January 15, 2024 at 2:19 pm GMT

Morgan Stanley shares are on the retreat in the past few sessions Decline driven by the repeated inability to conquer the 78.6% Fibo Short-term oscillators point to more losses ahead Morgan Stanley’s stock has been staging a V-shaped recovery since its 2023 bottom in October, jumping above the crucial trendline drawn from its February peak. However, the price has been undergoing a pullback in the past few sessions after getting rejected at the 78.6% Fibonacci retracement of the 100.87-69.33 [..]

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