Technical Analysis / Page 625

Technical Analysis – GBPJPY bearish action slows, trend reversal awaited

Posted on July 12, 2019 at 8:40 am GMT

GBPJPY continues to show signs of a fading downtrend as the RSI and the MACD keep extending their two-month old upward pattern at a time when the price seems to be easing bearish momentum. The minimal difference between the recent lows is more evidence that the market may be preparing for a trend reversal. Traders could wait for a clear breakout of the June high of 138.32 to confirm the end of the bearish movement. Before that, the bulls would need [..]

Technical Analysis – USDCAD plummets to 8½-month low; negative bias remains

Posted on July 12, 2019 at 6:25 am GMT

USDCAD is plunging today towards a fresh eight-and-a-half month low near 1.3030, following the pullback on the 1.3145 resistance level, which overlaps with the 20-day SMA. Technically, the RSI indicator is declining in negative territory, approaching the oversold zone, while the stochastic oscillator posted a bearish crossover within the %K and %D lines in the middle of the 20 and 80 level, strengthening its bearish view on price. Should prices tumble below Friday’s trough, support could be found around the [..]

Technical Analysis – EURNZD touches 200-day SMA; next support at 1.68

Posted on July 11, 2019 at 1:44 pm GMT

EURNZD has been declining considerably since yesterday, after the bounce off the 23.6% Fibonacci retracement level of the upward rally from the 18-month low of 1.6285 to the eight-month high of 1.7305 near 1.7050. The pair is ready to touch the 200-day simple moving average (SMA) and a possible upside correction is expected in the short-term. From the technical point of view, the RSI is sloping down below the 50 level, confirming the recent momentum on price, while the stochastic [..]

Technical Analysis – Google stock finds support at 40-day SMA; breaks above 38.2% Fibo

Posted on July 11, 2019 at 1:12 pm GMT

Google stock price is creating a short-term upside rally over the last month, after the rebound on the five-month low of 1024. The price tested and broke the 38.2% Fibonacci of the down move from the all-time high of 1288.47 to low 1024, of 1124.50. A pullback in the up move found support on the culminating simple moving averages (SMAs) of 14-, 21- and 40-days on July 9. The short-term 14- and 21-SMAs confirm a positive momentum, as well as [..]

Technical Analysis – EURCHF declines around 1.1100; holds in descending channel

Posted on July 11, 2019 at 12:25 pm GMT

EURCHF is moving lower near 1.1100, remaining below both its 20- and 40-day simple moving averages (SMAs) as well as beneath the 1.1170 resistance. The bigger picture still seems negative as the price has been developing in a descending channel since September 2018. Short-term momentum oscillators concur, with the RSI holding below 50 and pointing lower, and the stochastic completed a bearish cross within the %K and %D lines in the daily timeframe. More downside pressures could meet support near the almost [..]

Technical Analysis – Netflix stock tests 7-month high; narrow range in medium term

Posted on July 11, 2019 at 9:44 am GMT

Netflix stock experienced a short-term upside rally from the bottom boundary of the trading range for the last month, that began at the end of April, to the upper boundary of a seven-month high of 386. The stock has temporarily faltered near the resistance, waiting for the buyers’ and sellers to set the direction. Although in a sideways move, the short- and medium-term simple moving averages (SMAs) of 14-, 21- and 40-day SMAs, confirm a positive momentum on price action [..]

Technical Analysis – NZDUSD rallies near 23.6% Fibonacci; remains inside Ichimoku cloud

Posted on July 11, 2019 at 9:20 am GMT

NZDUSD continues to rise above the short-term moving averages, remaining inside the Ichimoku cloud, stretching its upward movement near the 23.6% Fibonacci retracement level of the upward wave from 0.6487 to 0.6725. According to the MACD, positive momentum could stretch into the short-term as the indicator picks up steam above its trigger line. The RSI is also hovering in the positive area but is flattening. In the positive scenario, where the price peaks above today’s high of 0.6670, a new top could be formed around the 0.6693 resistance level, [..]

Technical Analysis – US 500 index unlocks 3,000 level, hits new record highs

Posted on July 11, 2019 at 8:41 am GMT

The US 500 stock index finally topped slightly above the 3,000 level and at new record highs after being unable to pierce the mark last week. According to the RSI and the MACD, the market could attract some buying in the short-term before turning lower as the former has yet to enter overbought territory and the latter seems to be regaining positive momentum above its red signal line. On the upside, the price could settle for the 3,100 number which is the [..]

Technical Analysis – USDJPY slips below 108; lacks clear direction in short term

Posted on July 11, 2019 at 6:42 am GMT

USDJPY extended yesterday’s sell-off below the 108.00 psychological mark today and the mid-level of the Bollinger Band (20-day simple moving average) as well as the 23.6% Fibonacci retracement level of the downfall from 112.40 to 106.77. The pullback on the seven-week high of 109.00 shifted the marginally bullish bias to neutral in the short-term. Looking at the momentum indicators, the RSI is falling below the 50 level, while the stochastic oscillator has already completed a bearish crossover within its %K and %D lines in the overbought zone, suggesting the end [..]

Technical Analysis – Amazon accelerates bullish rally to test all-time highs

Posted on July 10, 2019 at 2:45 pm GMT

Amazon stock has been experiencing a one-month bullish rally from a pullback move at the beginning of May to a low of 1670, and today broke aggressively above the seven-month high of 1964. With the help of short- and medium-term simple moving averages (SMAs) of 14 -, 21- and 40-day SMAs respectively, bullish crosses are in place confirming the momentum and positive trend which is in progress towards the highs. The MACD and the RSI are also supporting the bullish [..]

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