Technical Analysis / Page 618

Technical Analysis – GBPUSD heads to post-Brexit referendum lows

Posted on July 30, 2019 at 7:17 am GMT

The heavy sell-off in GBPUSD stretched into Tuesday’s session as fears over a no-deal Brexit mounted, with the pair diving below 1.22 and towards its post-Brexit referendum troughs. The RSI is slipping below 30, the Stochastics are heading towards the 20 level, while the market action is currently taking place under the lower Bollinger band, all flagging that conditions are oversold, and an upside reversal could be around the corner. Yet any recovery could prove short-lived if the MACD continues [..]

Technical Analysis – Apple stock fails to reach 6-month high; prints warning candles

Posted on July 29, 2019 at 2:51 pm GMT

Apple’s stock lost steam in the last sessions, after a nearly two-month rally from the low of 170.17 on June 3. The pair formed a hanging man formation followed by a close lower and then a shooting star. The bulls seem to have lost control and momentum indicators also warn of a possible short-term down move. Although the price is above the Ichimoku cloud and simple moving averages (SMAs), momentum has paused as the Ichimoku averages have moved sideways, while [..]

Technical Analysis – USDCHF stopped at upper Bollinger band; unable to break above a 3-week high

Posted on July 29, 2019 at 1:05 pm GMT

USDCHF dropped from a twenty-eight-month high of 1.0235 to a five-and-a-half-month low of 96.93 over a three-month period. Buyers failed to push above the previous swing peak of 0.9950, and the price is currently hovering near the upper Bollinger band. The 14-day and 20-day simple moving averages (SMAs) show no clear direction, whereas the MACD and RSI are giving mixed signals. On the one hand MACD is trying to exit the negative zone, but the RSI has turned down. The [..]

Technical Analysis – EURGBP flies above Ichimoku cloud; RSI overbought

Posted on July 29, 2019 at 9:51 am GMT

An impressive rally followed the rebound on the 23.6% Fibonacci of the upleg from 0.8489 to 0.9050, with EURGBP spiking above its simple moving averages (SMA) and the Ichimoku cloud in the four-hour chart. In the meantime, the RSI seems to be slowing down in the overbought territory, flagging that the rally is exaggerated, and therefore downside corrections could soon take place. Nevertheless, as long as the MACD keeps gaining ground in the positive terittory and well above its red signal line, any [..]

Technical Analysis – Gold pushed back; sellers disagree with new high

Posted on July 29, 2019 at 8:58 am GMT

Gold printed a multi-year high of 1452.87 on July 19, but sellers moved the asset back below previous highs of 1433.50 and 1439 recorded a month ago. The metal has found support on the 21-day simple moving average (SMA) and the Kijun-sen average around 1415. Tenkan-sen average has flattened out, indicating that short-term upside momentum is fading. The RSI agrees with this outlook, as despite being in positive zone, it has neared the neutral area and become flat. The MACD [..]

Technical Analysis – EURUSD looks for a rebound near lower Bollinger band

Posted on July 29, 2019 at 7:33 am GMT

EURUSD is struggling to gain buying interest after the deep fall towards the key 1.1100 support mark – the lowest in more than two years. The negative momentum in the MACD, which is far below the zero and trigger lines, suggests that the bearish sentiment is likely to stay in the short-term. Yet in the very short-term, upside corrections cannot be ruled out as the fast stochastics have already posted a bullish cross in oversold zone, while the price itself [..]

Technical Analysis – GBPJPY bulls test 20-day SMA; trend reversal still likely

Posted on July 26, 2019 at 9:01 am GMT

After three weeks of consecutive losses, GBPJPY is set to close in the green, though with minimal gains. The 20-day simple moving average (SMA) remained a key resistance area, while the RSI and the MACD continue to keep the odds high for downside corrections in the short-term as long as they fluctuate in bearish area. Yet, both indicators have been correcting north and towards their neutral levels over the past two months at a time when the price was printing [..]

Technical Analysis – EURNZD runs towards 200-SMA at 1.6800

Posted on July 26, 2019 at 8:55 am GMT

EURNZD is extending gains after the rebound on the 1.6525 support area, heading towards the 200-simple moving average (SMA), which overlaps with the 1.6800 psychological mark. The RSI is pointing marginally upwards, approaching the 50 level, while the stochastic is moving near the overbought area. Should the price close comfortably above the 200-day SMA, immediate resistance would come from the 38.2% Fibonacci mark of the downleg from 1.7925 to 1.6285 near 1.6915. If there is a jump above this level, [..]

Technical Analysis – Twitter stock touches upper boundary of trading range; eyes on gap

Posted on July 26, 2019 at 8:26 am GMT

Twitter stock lunged up out of a trading range trying to fill the gap from July 2018. The move had price hit a nine-and-a-half month high of 40.90 to only fall back into a two-and-a half month sideways market, where the price is currently shaking hands with the upper boundary. Price has printed a red candle, besides a bullish cross up of the 40-day simple moving average (SMA) by the 20-day SMA. The MACD, although above its trigger, is flat, whereas the RSI [..]

Technical Analysis – USDCAD gains some ground; still negative in medium-term

Posted on July 26, 2019 at 6:07 am GMT

USDCAD found some footing around the nine-month low of 1.3015 last week and completed the fifth consecutive green day. Currently, the pair is approaching the 40-simple moving average (SMA), experiencing some gains above the 1.3145 barrier. The stochastic oscillator seems to be strengthening momentum above the 80 level, while the RSI is standing above the 50 level with weaker movement than before, signaling a more cautious trading in the short term. The 40-day SMA at 1.3182 could act as immediate resistance for the bulls. Breaking [..]

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