Technical Analysis / Page 611

Technical Analysis – EURUSD looks for a rebound but upside could be limited

Posted on August 19, 2019 at 7:38 am GMT

EURUSD surrendered most of its monthly gains and dropped below 1.1100 after finding a wall around the 50-day simple moving average (SMA) and the 1.1230-1.1250 area. Technically, the price could pause negative momentum in the very short-term as the Stochastics signal oversold conditions. The RSI seems to be easing downside movement as well, though as long as it holds under its 50 neutral-mark, any upside correction in the price is likely to appear insignificant. Note that the red Tenkan-sen reversed back south [..]

Technical Analysis – Silver meets 2018 peaks; bias neutral-to-bearish

Posted on August 16, 2019 at 10:12 am GMT

Silver topped near its 2018 peaks this week before pulling slightly back, with the MACD and the RSI pointing now to a neutral-to-bearish mode in the short-term; the former is increasing negative momentum below its red signal line, while the latter is fluctuating slightly below its 50 neutral mark. The support area around the 23.6% Fibonacci of 16.90 of the upleg from 15.03 to 17.49 will be closely watched if the decline extends. In case of a sharper downside move, the 38.2% Fibonacci and [..]

Technical Analysis – GBPJPY favors positive scenario in short-term

Posted on August 16, 2019 at 9:03 am GMT

GBPJPY is showing bullish signals in the four-hour chart as the MACD is strengthening in the positive area and the RSI is resuming upside momentum above its 50 neutral level. The pair has created a higher low around the 127.50 barrier but this is not enough for a complete violation of its downward pattern as the price also needs to post a higher high above its previous peak of 129.20. A forceful rally above 130.00, which coincides with the 38.2% [..]

Technical Analysis – USDCAD bulls still in play; need to crawl above 1.3340

Posted on August 16, 2019 at 7:14 am GMT

USDCAD managed to close slightly above the 200-day simple moving average (SMA) and the Ichimoku cloud, extending its gains for a fifth week and increasing the likelihood for an up-trending market. The bullish cross between the 20- and the 50-day SMA is also a positive trend signal. In terms of momentum, the rising MACD accompanied with the improving Tenkan-sen and the softening RSI suggest a bullish-to-neutral session for the short-term. If yet another rally is staged, the bulls should overcome [..]

Technical Analysis – EURGBP uptrend pauses for breath

Posted on August 14, 2019 at 11:37 am GMT

EURGBP recorded a steep rally in recent weeks to touch the 0.9325 area, before retreating somewhat. The price structure on the daily chart consists of higher highs and higher lows, while the 50-day simple moving average (SMA) has also crossed above the 200-day one, keeping the outlook positive overall. Momentum oscillators, however, suggest that the latest pullback may continue for now. The RSI has flattened just below its 70 level, while the MACD – although positive – could test its [..]

Technical Analysis – GBPCAD picks up some upside momentum; outlook still bearish

Posted on August 14, 2019 at 10:29 am GMT

GBPCAD has been on a downtrend since the beginning of May, sliding to a two-year low of 1.5874 on Friday. The downside pressure has eased somewhat this week with momentum indicators pointing to a weak positive movement. The RSI is rising but has some way to go before escaping out of bearish territory above 50. The stochastic oscillator is also signalling an improved bias in the short term, with the %K line crossing above the %D line, though they both [..]

Technical Analysis – BTCUSD slips below 100-EMA and Ichimoku cloud

Posted on August 14, 2019 at 10:18 am GMT

The famous crypto Bitcoin came under fresh selling after slumping below the 100-period exponential moving average (EMA) and the Ichimoku cloud in the four-hour chart. According to the RSI and the Stochastics the market is fluctuating in oversold waters and hence upside corrections are likely. Still, the market may need to run comfortably above the 100-period EMA currently at 10,873, and more importantly above the 50% Fibonacci of 11,400 of the long donwleg from 13,809 to 9,011 to boost buying [..]

Technical Analysis – AUDUSD keeps range-bound trading below 0.6820

Posted on August 14, 2019 at 8:54 am GMT

AUDUSD was unable to crawl above the upper boundary of its narrow 0.6820-0.6745 range despite Tuesday’s encouraging trade news. In the short-term, the market may remain muted as the slow progress in the RSI and the gently rising MACD suggest a bearish-to-neutral bias, with the falling red Tenkan-sen also reducing the odds for an impressive gainful session. Yet the pause in the recent steep downfall and the following consolidation phase increase speculation that an upward correction may be nearing. A rally above the 0.6820 resistance may [..]

Technical Analysis – USDJPY retraces spike higher as 107 blocks the bulls

Posted on August 14, 2019 at 7:21 am GMT

USDJPY started the day in the red on Wednesday after spiking up by more than 1% on Tuesday to meet resistance near the key 107.00 level. The RSI and the red Tenkan-sen are currently following the price down, while the MACD keeps improving below its red signal line, painting overall a bearish-to-neutral picture for the short-term. Moving southwards, traders would keep a close eye on the 105.50-105.00 region, where selling forces paused over the past week. Should the decline continue [..]

Technical Analysis – Copper futures fail to close below 2.54; move back sideways

Posted on August 13, 2019 at 3:24 pm GMT

Copper futures were unable to close below the 2.54 hurdle, and the bulls logged gains, sending the metal back into the neutral sideways market that has lasted for three months. The momentum indicators suggest the short-term negative trend is weakening. The MACD has started to turn up in the negative area for a cross above its trigger line, while the ADX shows a weakening of the bearish trend in place. The simple moving averages (SMAs) although bearish have flattened in [..]

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