Technical Analysis / Page 607

Technical Analysis – USDMXN prints a bearish doji and pulls back

Posted on August 29, 2019 at 1:02 pm GMT

USDMXN is printing a red candle in the four-hour chart after creating a bearish doji, signaling the continuation of the negative correction. The RSI has also reversed south after peaking slightly below its 70 oversold level, providing additional discouraging signals for the near-term. Yet, as long as the RSI hovers above its 50-neutral mark, any weakness could appear short-lived. On the way down, the 20-period simple moving average (SMA) could curb bearish actions ahead of the ascending trend-line which is currently [..]

Technical Analysis – USDJPY consolidates; ascent restricted by inside swing & 21-SMA

Posted on August 29, 2019 at 10:08 am GMT

USDJPY has consolidated into a sideways market over the last three weeks, after falling from near the 100-day simple moving average’s (SMA). The pair has been unable to close above the 106.77 resistance level despite multiple attempts, and now the bulls are at it again. The MACD is above its red trigger line and in the negative zone, reflecting weakening downside momentum. However, the RSI is hovering just below the 50 level, concurring with the bigger bearish picture of the [..]

Technical Analysis – NZDUSD sinks near 4-year lows; downtrend looks unstoppable

Posted on August 29, 2019 at 7:03 am GMT

NZDUSD came under fresh sell-off on Thursday in the wake of downbeat business data, with the price stretching its two-year old downtrend to an almost four-year low of 0.6304. Technical signals remain bearish.The Tenkan-sen line continues to move with a steep negative slope well under the blue Kijun-sen line, while the RSI shows no appetite of leaving the oversold territory, both flagging further weakness for the market. A crucial support level is located at 0.6235, where the market bottomed in 2015. [..]

Technical Analysis – GER30 index consolidates above the 11,338 level; SMAs converge

Posted on August 28, 2019 at 3:31 pm GMT

The GER30 index has consolidated in a sideways market in the last 20 sessions, as the 50-period simple moving average (SMA) has flattened and blended with the 100-period SMA. The index has currently moved into the Ichimoku cloud, trading around the June low of 11,607. Directional momentum seems to have evaporated, something also reflected by the indicators. The MACD is flat at the zero line, combined with its red trigger line, while the RSI hovers at the 50-level. Furthermore, the [..]

Technical Analysis – CADJPY struggles for direction; remains in bearish trajectory

Posted on August 28, 2019 at 2:49 pm GMT

CADJPY is being capped by the 20-day moving average (MA), having rebounded from Monday’s 7½-month low of 78.48. Prices are currently hovering around the 23.6% Fibonacci retracement of the July-August downleg at 79.60. But the next move could be in either direction as the momentum indicators are giving mixed signals. The stochastic oscillator is pointing to ongoing positive momentum as both the %K and %D lines are rising, though looking at the RSI, downside risks are evident as it has [..]

Technical Analysis – Silver breaches 18.00 level; touches multi-year highs

Posted on August 28, 2019 at 2:25 pm GMT

Silver has been in a three-month rally from May 28. The metal surpassed the highs from the first months of 2018 as well as the 18.00 psychological number. The bulls continue to dominate, something also signaled by the momentum indicators’ bullish demeanor. The MACD is rising and distancing itself from its red trigger line in the positive territory, whilst the RSI despite moving further into the overbought region, has turned down. Although no clear reversal signals are apparent, caution for a short-term [..]

Technical Analysis – AUDUSD remains sideways; multi-year lows in sight

Posted on August 28, 2019 at 8:41 am GMT

AUDUSD has endured a 20-day trading range with upper boundary of 0.6820 and a lower boundary of 0.6734. The bears seem to be in control, keeping the price closer to the lower boundary, but have yet to close below it. It is worth mentioning that the Tenkan-sen has declined, distancing itself from the Kijun-sen, tilting more to a revival of the down move. The momentum indicators are also implying that the negative directional momentum could pick up, bringing a new [..]

Technical Analysis – GBPJPY puts upward pattern in standby mode

Posted on August 28, 2019 at 7:22 am GMT

GBPJPY sat on the sidelines after confirming the start of an uptrend by creating a higher low at 127.45 and a higher high at 130.68 in the four-hour chart. The pair is likely to stay uneventful in the short-term as the RSI and the Ichimoku indicators are flattening and the MACD is rising slowly. However, the fact that the technical measures remain in bullish territory and the 20-period simple moving average (SMA) holds above the 50-period SMA suggests that the positive bias, [..]

Technical Analysis – EURTRY sellers try to correct even lower after spike

Posted on August 27, 2019 at 2:56 pm GMT

EURTRY has been in an uptrend after the double bottom which occurred in the first ten days of August. The rally stretched the pair north near the area of the gap from July 1. Following a flash crash the price peaked at 6.7059, where the sellers dominated, pulling the price back down to previous levels. The momentum indicators although in the bullish territory, are warning of a downwards corrective move as the MACD has declined below its red trigger line, [..]

Technical Analysis – GBPAUD tackles SMAs as they near completion of a bearish cross

Posted on August 27, 2019 at 1:59 pm GMT

GBPAUD rose over the last month and breached the 100- and 200-day simple moving averages (SMAs) to peak at 1.8335 on Monday. The sellers, however, came soon on board, managing to pull the price back below. Buyers are again looking for a move higher now, something also reflected by the momentum indicators. The MACD distanced itself further above its red trigger line as it entered positive territory, whilst the RSI is currently turning upwards and away from the 50-level. Despite [..]

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