Technical Analysis / Page 619

Technical Analysis – US500 Index retests and pushes through previous all-time high

Posted on July 25, 2019 at 2:24 pm GMT

US 500 stock index after retreating last week, began a sure but steady move to revisit the all-time high of 3019, and currently is climbing above it. The price found support at the Tenkan-sen average, and the moving averages are headed higher holding the price above them. The momentum indicators suggest a quick reload necessary for the jump ahead, as the MACD is nearing a cross above the trigger in the positive region, whilst the RSI is slightly pointing up [..]

Technical Analysis – CADJPY loses ground below descending line

Posted on July 25, 2019 at 12:54 pm GMT

CADJPY has been moving within the 61.8% Fibonacci retracement level of the downward wave from 89.25 to 76.60 near 84.40 and the 23.6% Fibo of 79.65 after the bounce off the two-year low of 76.60 on January 3. In the medium-term, the pair has been remained below a descending line, suggesting a somewhat bearish structure. Technically, the RSI is flattening near the neutral threshold of 50, while the MACD is edging lower below the trigger line. A step lower [..]

Technical Analysis – NZDUSD continues selling interest; next support at uptrend line

Posted on July 25, 2019 at 11:31 am GMT

NZDUSD is on course for weekly losses, dropping into the Ichimoku cloud and creating a ten-day low around 0.6685. The RSI in the 4-hour chart continues to drop in the bearish area, while the red Tenkan-sen keeps moving below the blue Kijun-sen line, increasing chances for a meaningful selling interest in the short-term trading. Also, the stochastic oscillator entered the oversold zone and is still heading lower. Should the price edges down, the 38.2% Fibonacci retracement level of the upleg from 0.6487 to 0.6790 near [..]

Technical Analysis – Silver aggressively rallied upwards; takes a breather near highs

Posted on July 25, 2019 at 9:44 am GMT

Silver advanced fiercely from July 9, towards a thirteen-month high of 16.635 and currently stands at a temporary stall, while buyers try to regain the reins in the short-term. Price is way over the Ichimoku cloud, and its Tenkan-sen average points north confirming the positive bias, whereas the Kijun-sen indicates the present stall. The 50-day simple moving average (SMA) has just crossed above the 200-day SMA. The MACD has soared above its trigger in the positive region, whereas the RSI [..]

Technical Analysis – GER30 index keeps growing in overbought area

Posted on July 25, 2019 at 8:10 am GMT

The GER30 index gained considerable traction this week, with the price breaching the downward move that started from the almost one-year high of 12,661 and passing through the Ichimoku cloud. The technical picture suggests a cautiously bullish bias for the short-term as the MACD keeps running above its red signal line and the RSI is flattening around the 70 overbought area. The bulls could continue the rally until the 12,620-12.640 area. Should the bullish pressure strengthen above the 12,661 top, resistance could rise [..]

Technical Analysis – USDJPY bulls look exhausted near short-term SMAs; narrow range holds

Posted on July 25, 2019 at 6:15 am GMT

USDJPY is holding around the 23.6% Fibonacci retracement level of the downleg from 112.40 to 106.77 near 108.10 and the expected bullish crossover within the 20- and 40-simple moving averages (SMAs) in the daily timeframe. Currently, the price has been developing within a narrow range of 107.05 – 109.00 over the last two months and the Bollinger Bands are squeezing, approaching the market price. Looking at the momentum indicators, the RSI is marginally falling below the 50 level, while the stochastic oscillator has [..]

Technical Analysis – GBPNOK jumps above downtrend line; unable to break 23.6% Fibo level

Posted on July 24, 2019 at 2:23 pm GMT

GBPNOK rallied up during the previous week from the nine-and-a half-month low of 10.5915, breaking above the downtrend line to pause at the 23.6% Fibonacci retracement level of the downleg move from 11.5127 to 10.5915, of 10.81. The Kijun-sen line has flattened, as well as the momentum indicators of the MACD and the RSI in the daily timeframe. The MACD stands above the trigger line, while the RSI holds near 50-neutral level. To the upside, an initial push above the 23.6% [..]

Technical Analysis – Google stock on track to revisit 100-SMA after a bounce on 38.2% Fibo level

Posted on July 24, 2019 at 1:32 pm GMT

Google stock price found strong resistance from the 100-day simple moving average (SMA), coupled with the Ichimoku cloud’s upper boundary and the 50.0% Fibonacci retracement level of the down move from 1288.47 to 1024, of 1157. Price moved into the Ichimoku cloud on July 10 and adopted a sideways motion. The positive directional momentum has dwindled, as the MACD flattens near the trigger line, and the RSI remains near the 50 level but is slightly rising. The ADX continues to show the strong bullish trend. [..]

Technical Analysis – Facebook stock eases around 1-year peak; retains bullish outlook

Posted on July 24, 2019 at 1:23 pm GMT

Facebook stock price is hovering around the one-year high of 205.40 but it is holding well above the 50- and 200-day simple moving averages (SMAs). Momentum indicators are looking to lose steam as the MACD fell beneath the trigger line and the RSI is flattening in the positive territory, suggesting a downside correction. An advance could stop at the multi-month high of 218.44, taken from the peak on July 25, before posting a fresh all-time high. A downside structure in the [..]

Technical Analysis – EURCHF creates fresh 2-year low; bears have the upper hand

Posted on July 24, 2019 at 12:59 pm GMT

EURCHF has been creating an aggressive downward rally over the last four days, posting a fresh two-year low around 1.0970. Also, the price has broken the long-term sideways channel, indicating sharper negative structure. The bearish move is confirmed by the technical indicators in the daily timeframe. The RSI is holding in the oversold territory and is pointing south, while the MACD is stretching its downside movement below trigger line. Should weakness extend below the two-year low, support to further declines [..]

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