Technical Analysis / Page 628

Technical Analysis – Google stock unable to break above 38.2% Fibo and 200-SMA

Posted on July 4, 2019 at 1:35 pm GMT

Google stock price has found a strong resistance level around the 38.2% Fibonacci retracement level of the downleg from 1,288.47 to 1,023.50 near 1,125 as it tries to extend its gains after the rebound on 1,023.50. Momentum indicators now suggest that the market sentiment might increase even higher as the stochastic lies in overbought area and the MACD is rising above its trigger line. If the market turns to the upside again and surpasses the 50-simple moving average (SMA) it could revisit the 1,147 resistance level before touching the 50.0% Fibonacci of [..]

Technical Analysis – AUDJPY continues to consolidate in a narrow range

Posted on July 4, 2019 at 12:45 pm GMT

AUDJPY remains confined in a relatively narrow sideways range, between 73.90 and 76.30, since early May. The near-term outlook is therefore neutral, with a break on either side needed to provide the directional bias. Momentum oscillators also paint a flat picture, with the RSI flattening near its neutral 50 line, and the MACD being close to zero. If the buyers take control and manage to push above 76.30, that would turn the near-term outlook to cautiously positive, opening the way [..]

Technical Analysis – NZDUSD trades within sideways channel; SMAs post bearish cross

Posted on July 4, 2019 at 12:22 pm GMT

NZDUSD has been consolidating since June 26 within a narrow range of 0.6655 – 0.6718 and is currently hovering beneath the bearish crossover within the 20- and 40-simple moving averages (SMAs) in the 4-hour chart. The near-term bias is looking neutral-to-bearish as the RSI is flatlining near the 50-neutral level, while the MACD is moving slightly lower below the trigger line in the positive zone, suggesting more downside pressure in the 4-hour chart. Should the pair pare some of the previous sessions’ losses, [..]

Technical Analysis – BTCUSD cools after rally, cautiously negative in very short term

Posted on July 4, 2019 at 11:29 am GMT

BTCUSD has come off its recent highs, with prices diving to test the 9,600 area, before finding fresh buy orders and rebounding. Yet, the price structure on the 4-hour chart now consists of lower peaks and lower troughs, while the 20-period simple moving average (SMA) has also crossed below the 40-period one, so the outlook seems to have turned cautiously negative in the immediate term. Short-term momentum oscillators agree, with the RSI still hovering slightly above 50, but pointing lower. [..]

Technical Analysis – US 500 stock index records new all-time highs close to 3,000

Posted on July 4, 2019 at 8:34 am GMT

US 500 index showed a notable advance yesterday, completing a fresh all-time high around 3,000, but it ended the day in red. The advance of the trigger line above the MACD and the bullish momentum in the indicator suggests there is some more room for improvement, while the RSI indicator seems to be flat near the overbought zone, signaling a possible overstretched market. Also, the 50- and 200-day simple moving averages (SMAs) are moving sideways despite the latest upside run. [..]

Technical Analysis – USDJPY continues selling interest in short term

Posted on July 4, 2019 at 6:28 am GMT

USDJPY held in losses over the previous couple of days, dropping back below the 23.6% Fibonacci retracement level of the downfall from 112.40 to 106.77 near 108.10 and the 20-day simple moving average (SMA). The negative bias in the near term is supported by the deterioration in the stochastic oscillator. The %K line of the stochastic is falling sharply towards oversold levels and posted a bearish crossover with the %D line. If prices continue to head lower, support should come [..]

Technical Analysis – Brent futures bears look exhausted; indicators signal bullish action

Posted on July 3, 2019 at 1:27 pm GMT

Brent crude oil futures have gained a bit in the last 4-hour session, paring some losses of yesterday’s move. The technical indicators are currently feeding prospects for a possible positive short-term trading as the RSI is pointing up in the negative area and the %K line of the stochastic oscillator is creating a bullish cross with the %D line in the oversold zone, suggesting the end of the bearish phase. Alternatively, if 63.40 and the 23.6% Fibonacci of the downward wave from 75.60 to 59.40, near 63.24, proves [..]

Technical Analysis – EURAUD may pause downside rally near 38.2% Fibo

Posted on July 3, 2019 at 12:08 pm GMT

EURAUD found some footing around the 1.6420 resistance level last week and returned to bearish thereafter in the short-term. The price is currently testing the 38.2% Fibonacci retracement level of the upleg from 1.5150 to 1.6660 around 1.6080 and the upper surface of the Ichimoku cloud. The red Tenkan-sen is turning lower above the blue Kijun-sen line which is flat and the RSI and the MACD are flirting with negative levels, pointing to a bearish short-term trading. In the negative scenario, [..]

Technical Analysis – EURJPY loses ground in ascending triangle pattern; new 2-week low

Posted on July 3, 2019 at 8:59 am GMT

EURJPY has been plunging over the last couple of days, recording a fresh almost two-week low near 121.33 earlier today. The bearish cross within the 20- and 40-simple moving averages (SMAs) in the 4-hour chart is increasing speculation for more downside risks. The RSI is heading towards the oversold territory, while the MACD is strengthening its bearish momentum. If the price continues the downfall from the six-week high of 123.34, it could meet support near the ascending line of the [..]

Technical Analysis – AUDUSD retests 0.7000 key level; neutral to bullish in short term

Posted on July 3, 2019 at 6:43 am GMT

AUDUSD is flirting with the 38.2% Fibonacci retracement level of the downleg from 0.7390 to 0.6746 slightly below 0.7000 and is holding inside the Ichimoku cloud. The pair remained above the 20- and 40-day simple moving averages (SMAs) which are flattening as the price is developing within a sideways channel of 0.6830 – 0.7035 in the short-term. From the technical point of view, the RSI is flattening in the bullish territory, while the MACD is rising above trigger and zero [..]

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