Technical Analysis / Page 616

Technical Analysis – EURSEK reverses higher after forming triple bottom; meets resistance at upper Bollinger band

Posted on August 2, 2019 at 12:37 pm GMT

EURSEK rallied after breaking above the 200-day simple moving average (SMA) and the 23.6% Fibo retracement level of the down move from 10.8475 to 10.4845. The price of the pair continued its move breaching the 10.6230 and 10.6360 levels, which are the 38.2% Fibo and resistance from July 9, and completed a triple bottom reversal pattern. The price today jumped above 10.7090 which is the 61.8% Fibo, but sellers have come on board to try for a pullback. Momentum indicators [..]

Technical Analysis – USDJPY dives below 107; short-term bias turns bearish

Posted on August 2, 2019 at 10:30 am GMT

USDJPY came under severe selling pressure on Thursday, with the price quickly exiting the 109 area and sliding below the 107 level early on Friday. The momentum indicators are facing downside pressure as well, framing a bearish bias for the short-term trading. Yet with the RSI and the Stochastics moving closer to the oversold territory, any downfall could be limited. The 78.6% Fibonacci of 105.60 of the upleg from 104.64 to 112.39 could provide nearby support to additional losses. Any [..]

Technical Analysis – GBPJPY printed a 3 black crows’ pattern and broke fiercely through the 25-month low

Posted on August 2, 2019 at 9:33 am GMT

GBPJPY had sellers take the reins, after indecisive candles from the previous week, forming a 3 black crows’ pattern and eating up the 133.85 swing low and the twenty-five-month low of 132.48. Buyers then came on board, but failed to close above the 132.48 low, now turned to resistance. Moreover, the sellers hit back harder with a large engulfing bearish red candle and reignited the sell-off. It’s worth mentioning the indicated strength behind the down move, as shown by the [..]

Technical Analysis – USDCAD searches for a close above 50-SMA; short-term bias bullish

Posted on August 2, 2019 at 7:16 am GMT

USDCAD has been building an upward trajectory over the past three weeks and is currently searching for a daily close above the 50-day simple moving average (SMA). The short-term bias is viewed positive at the moment as the RSI is gaining momentum above its 50 neutral mark and the MACD is strengthening above its red signal line and in the bullish area. Traders, however, could wait for the pair to jump above the Ichimoku cloud and the 1.3300 level to raise faith [..]

Technical Analysis – Palladium futures’ aggressive drop halted near 100-SMA and 50.0% Fibonacci; price moves inside Ichimoku cloud

Posted on August 1, 2019 at 2:38 pm GMT

Palladium futures’ struggle with the 23.6% Fibo of 1517 finally came to an end, after a two-week period. The metal collapsed through the 1467 support level, which is the 38.2% Fibo retracement level of the move up from 1255 to 1598, and the 1454 near support, to break into the Ichimoku cloud. Presently the metal is faced with the 100-day simple moving average (SMA) barrier which is parallel with the 50.0% Fibo of 1426. The 20-day SMA has started to [..]

Technical Analysis – GER30 index needs a break above 20-SMA

Posted on August 1, 2019 at 1:19 pm GMT

The GER30 index put breaks on Wednesday’s sell-off and geared up to move-off one-month lows but the 20-period simple moving average (SMA) in the four-hour chart did not let the recovery to continue. In the short-term the bulls could revisit the 20-period SMA if the RSI and the MACD keep improving. Any significant step higher and above the 38.2% Fibonacci of 12,279 of the downleg from 12,661 to 12,043 could open the door for the 50% Fibonacci of 12,534 and [..]

Technical Analysis – USDSEK fails attempt for strong close above 17-year high; declines back below

Posted on August 1, 2019 at 12:46 pm GMT

USDSEK rallied to a new 17-year high of 9.6980, starting from a low of 9.2985 on July 18. But sellers would not have it, and drew the price back below 9.6858, which was the previous 17-year high back in May. Despite bullish signals from the 50-, 100-day simple moving averages (SMAs), as they are heading up, and the Bollinger bands indicating high volatility, traders should be aware that a possible pullback is on the table. The momentum signals, although bullish, [..]

Technical Analysis – US dollar index jumps above the upper Bollinger band; prints new high

Posted on August 1, 2019 at 9:39 am GMT

The US dollar index produced a new ten-week high of 98.67. The buyers clearly overwhelmed the sellers from the last swing, pushing up from the 96.30 level after the price tested the middle Bollinger band multiple times in a sideways move during July. It is worth mentioning that once after the price bounced off the mid band and rallied up, of the last nine days only two red neutral candles formed, confirming a volatile move north. Momentum indicators are currently [..]

Technical Analysis – USDJPY gathers positive trend vibes above 109

Posted on August 1, 2019 at 7:15 am GMT

The hawkish nature of the FOMC policy meeting late on Wednesday allowed USDJPY bulls to retake control and pick up steam above the 109 important level. Technically, the pair could consolidate gains in the short-term as the RSI is positively sloped and not far below its 70 overbought mark; the indicator is already in the overbought territory in the four-hour chart. Yet, with the price having cleared the 50-day simple moving average (SMA), and the 50% Fibonacci of the upleg [..]

Technical Analysis – General Motors stock makes a 13-month high; sellers push back

Posted on July 31, 2019 at 2:57 pm GMT

General Motors stock has stuck to the upper Bollinger band on its stretch north, peaking its head above the band, hauling the price of the stock above previous peaks from February 6 and April 18. Although the price has formed a spinning top candle and sellers have pushed lower, it’s worth mentioning that the 40-day simple moving average has crossed above the 100-day SMA, signaling that the bullish advance seems to be holding. The MACD is in the positive region [..]

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