Technical Analysis / Page 626

Technical Analysis – Silver climbs above 200-SMA in near term; still bearish in long-term

Posted on July 10, 2019 at 1:07 pm GMT

Silver prices came close to breaking the 14.90 level on Friday, finishing the day slightly above the 200-day simple moving average (SMA). According to the RSI, the market could maintain positive momentum in the short-term as the indicator is positively sloped marginally above its neutral threshold of 50, though the stochastic is creating a bullish cross within the %K and %D lines. On the upside, the price could attempt to hit the 15.55 resistance level, which if successfully broken the door [..]

Technical Analysis – CADJPY breaks downtrend line, flirts with 61.8% Fibonacci

Posted on July 10, 2019 at 11:03 am GMT

CADJPY has developed a short-term uptrend over the last month, which has now, broke the downtrend line to the upside. Currently, the upward move seems to be temporarily stalling as it encounters the 61.8% Fibonacci retracement level of the down move from 85.22 to the five-month low of 79.96 of 83.22. Both the MACD and the RSI momentum indicators are flattening in positive areas and suggest a short-term pausing of the uptrend, as the pair tackles the 61.8% Fibo of 83.22. The 14-day simple moving average (SMA) and 21-SMA both point up, and confirm the [..]

Technical Analysis – EURGBP pierces 0.90 level; cautiously bullish in short-term

Posted on July 10, 2019 at 8:29 am GMT

EURGBP is flirting with the 0.90 level for the second day in a row, keeping its uptrend above its simple moving averages (SMAs) and near six-month highs. The RSI is a shy below its 70 overbought mark, while the MACD seems to be regaining momentum under its red signal line, suggesting a positive but cautious trading in the short-term. On the upside, the bulls could rest around a former resistance around 0.9032 before heading towards the 0.9060 key level. Slightly higher, [..]

Technical Analysis – EURJPY rests near 23.6% Fibonacci; ascending triangle holds

Posted on July 10, 2019 at 8:27 am GMT

EURJPY is testing the 23.6% Fibonacci region from the high on 126.80 to the low on 120.77, around 122.20 as it seems ready to continue the very short-term upside tendency. The 20- and 40-simple moving averages (SMAs) posted a bullish crossover confirming the recent bullish run. The RSI is sloping up approaching the 70 level, while the MACD has been rising over the last week. A successful climb above the immediate level of 23.6% Fibo would increase positive speculation towards [..]

Technical Analysis – AUDUSD creates red days below short-term MAs

Posted on July 10, 2019 at 6:32 am GMT

AUDUSD has lost its short-term positive momentum over the last four days after the bounce off the 0.7050 resistance barrier. The market could retain the downward movement as the RSI dropped beneath the 50 level but is flattening and the MACD oscillator is weakening below the trigger line and near the zero line. Should the pair stretch south, the 23.6% Fibonacci retracement level of the downleg from 0.7390 to 0.6746 near 0.6900 could be the immediate support level, slipping beneath [..]

Technical Analysis – EURAUD runs towards 23.6% Fibo; bullish outlook

Posted on July 9, 2019 at 1:29 pm GMT

EURAUD finally reversed to the upside last Thursday after printing higher lows and higher highs in the preceding seven months to reach a five-month high of 1.6445 on June 18. Momentum indicators in the daily chart though are currently supporting that positive momentum is likely to strengthen in the short-term. Specifically, the RSI is picking up speed near 50 and the MACD is trying to surpass the zero line. Further advances could then target the immediate area around the 23.6% Fibonacci retracement level of the bullish [..]

Technical Analysis – BTCUSD forms a failure swing bottom pattern; eases below 2-week high

Posted on July 9, 2019 at 12:29 pm GMT

BTCUSD has been creating a failure swing bottom pattern and if the price jumps above the one-and-a-half-year high of 13809 would confirm the buying interest. The rebound on the 9582 support level helped the price to climb towards a two-week high of 12767, surpassing the Ichimoku cloud and the short-term moving averages. However, the RSI indicator is forming a downside move following the pullback on the 70 level, while the MACD is still increasing distance above its trigger line. More [..]

Technical Analysis – WTI futures erase upside rally, holding in Ichimoku cloud

Posted on July 9, 2019 at 8:35 am GMT

WTI crude oil futures have been underperforming over the last couple of days, remaining within the short-term moving averages and the Ichimoku cloud in the 4-hour chart. The RSI and the MACD oscillator are moving sideways near the 50 and the zero lines respectively, suggesting a neutral performance on price action. Should oil price manage to strengthen its positive momentum and jump above the 40-simple moving average (SMA), immediate resistance could come around the 23.6% Fibonacci of the low of [..]

Technical Analysis – GBPUSD flirts with 6-month low; holds in descending channel

Posted on July 9, 2019 at 6:39 am GMT

GBPUSD plunged to a six-month low of 1.2480 on Friday, continuing the strong sell-off from March 13. The pair is currently hovering near the return line of the descending channel and the short-term moving averages are following the downfall of the price action. The RSI is standing near the 30 level but is flattening, suggesting that there is a possibility of a weaker bearish move in the daily chart. However, the MACD oscillator is strengthening its negative movement below the [..]

Technical Analysis – GBPCAD reaches new 20-month low; strongly negative

Posted on July 8, 2019 at 12:46 pm GMT

GBPCAD is currently recording a new 20-month low near 1.6344 as it is plummeting over the last couple of months. The momentum indicators are still developing in oversold levels. The RSI, which has been moving below its 30 level over the last month is pointing down, while the stochastic oscillator is looking for a bullish cross below the 20 level. If the price decreases further and falling below today’s low, the 1.6200 psychological level, taken from the high on September 2017, could attract traders’ attention as there [..]

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