Technical Analysis / Page 612

Technical Analysis – EURAUD stumbles, but broader uptrend remains in play

Posted on August 13, 2019 at 3:05 pm GMT

EURAUD posted substantial losses in recent days, after touching a 10-year high of 1.6790 last week. Despite this pullback though, the medium-term uptrend is still in play, with a clear break back below 1.6230 and the 50-day simple moving average (SMA) needed to call that into question. Momentum oscillators suggest that the latest retreat may continue for now. The RSI is pointing lower and may test its 50 line soon, while the MACD seems to be coming closer to its [..]

Technical Analysis – Alibaba stock rushes to recoup losses ahead of Q2 earnings release

Posted on August 13, 2019 at 2:33 pm GMT

Alibaba’s stock price found enough footing near the 23.6% Fibonacci of the 147.82-179.33 upleg to surge above the 20-period simple moving average (SMA) in the four-hour chart. The rising MACD and the positive slope in the RSI, which is ready to exit the bearish territory, are encouraging signs for the market’s short-term performance. Should the 61.8% Fibonacci of 167.28 open the gate to the bulls, the 50-period SMA at 169.25 could next take control. Slightly higher, the area between 172.00 and [..]

Technical Analysis – WTI oil futures spike up, but still cautiously negative

Posted on August 13, 2019 at 2:06 pm GMT

WTI oil futures for September delivery have recovered some ground in recent days, but the broader picture remains cautiously negative from a technical standpoint, as the price action still consists of lower highs and lower lows. That said, a break below 50.50 is required to signal that the bigger downtrend is back in force. If the sellers retake the reins, their first obstacle may be the 50.50 zone, where a downside break would mark a lower low on the daily [..]

Technical Analysis – WalMart breaches uptrend line; 100-day SMA obstructs the drop

Posted on August 13, 2019 at 1:12 pm GMT

WalMart stock pulled back from a high of 115.26 after nearly eight months of advances, piercing below the uptrend line. The downwards correction has stalled at the 100-day simple moving average (SMA) after its push lower off 108.36, which is the 23.6% Fibonacci retracement level of the up leg from 86.07 to 115.26. It’s worth mentioning that the 20-day SMA has crossed below the 40-day SMA, signaling that the short-term bearish bias seems to be holding. The momentum indicators are [..]

Technical Analysis – US 30 index caught in no-man’s land

Posted on August 13, 2019 at 11:36 am GMT

The US 30 index suffered some losses in early August, but managed to recover part of them, and currently sits between its 50- and 200-day simple moving averages (SMAs). The near-term bias therefore seems neutral, with a break of either SMA needed to provide a directional signal. Short-term momentum indicators paint a flat-to-negative picture. The RSI is flattening above its 30 line, though the MACD seems to be moving deeper into the negative territory. Further declines could encounter support near [..]

Technical Analysis – USDTRY may need a bounce above 5.780

Posted on August 13, 2019 at 9:59 am GMT

USDTRY has been making lower highs and lower lows since early May, retracing more than half of the bullish wave with a bottom at 5.154 and a top at 6.243. The smooth recovery in the MACD and the upward-sloping RSI are currently reflecting a bearish-to-neutral bias for the short-term as long as the former holds around its red signal line and the latter below 50. Traders may ask for a closing price above 5.780 to allocate more funds to the [..]

Technical Analysis – GBPUSD extends collapse; finds floor at 138.2% Fibonacci

Posted on August 13, 2019 at 9:51 am GMT

GBPUSD breached the 1.2381 swing low, causing a steeper downfall towards the 138.2% Fibonacci extension of 1.2026 of the up leg from 1.2393 to 1.3381. The relatively flat momentum indicators support a very short-term breather. The MACD has flattened below its red trigger line, whereas the RSI is hovering on the 30-level of the oversold area. Despite the short-term pause view, the negatively-sloped simple moving averages (SMAs) indicate that the trend is likely to remain on the downside. If the [..]

Technical Analysis – EURJPY short-term bias is still skewed to the downside

Posted on August 13, 2019 at 7:13 am GMT

EURJPY printed a new 2-year low at 117.50 on Monday and despite entering oversold territory the bearish bias has not fully faded yet as the RSI continues to point downwards below 30, the MACD is extending its negative momentum under its red signal line and the red Tenkan-sen is distancing itself below the blue Kijun-sen. Trend signals are also viewed negative as all simple moving averages (SMA) are sloping downwards, with the price fluctuating comfortably below the lines. Should the [..]

Technical Analysis – EURZAR advances 11% to 11-month high

Posted on August 12, 2019 at 3:52 pm GMT

EURZAR recovered its recent downfall and rallied to an eleven-month high of 17.313. It’s worth mentioning that in the short-term, a bullish cross of the 20-day simple moving average (SMA) with the 50-day SMA could reinforce the up move. The price is above the Ichimoku cloud and the RSI is increasing in the overbought region, suggesting that the bullish action may further strengthen. The ADX is indicating that a strong bullish trend is in place. However, some caution for a downside [..]

Technical Analysis – NZDJPY struggles for momentum after plunging to 6½-year low

Posted on August 12, 2019 at 3:24 pm GMT

NZDJPY is struggling to recover from its recent plunge to a 6½-year low of 67.56 as the pair once again finds itself testing the psychological 68 level, which could establish itself as a strong support zone. The momentum indicators are illustrating a weak rebound. The stochastics are heading up, but the %K line already appears to be losing steam and about to cross below the slower moving %D line. The RSI, meanwhile, has flatlined in oversold territory and is not [..]

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