Technical Analysis / Page 639

Technical Analysis – USDJPY bears could stay on the sidelines in short-term

Posted on May 30, 2019 at 6:43 am GMT

USDJPY is struggling to recover last week’s losses which drove the pair back into the 109 area but the positive slope of the RSI and the rebound in the Stochastics provide some optimism that the bears could stay on the sidelines in the short-term trading. The trend signals, however, are still negative as the pair has violated its January uptrend by creating a lower low and a lower high this month. A descent rally above the 110 level and the 20-day simple [..]

Technical Analysis – USDCHF still holds above rising trend line

Posted on May 29, 2019 at 1:23 pm GMT

USDCHF rebounded on the 1.0007 support level in the preceding week, remaining above the ascending trend line, which has been holding since September 2018. The stochastic oscillator has come off from the negative level indicating positive movements despite the bearish cross within the 20- and 40-day moving averages near the current market action. The pair entered the Ichimoku cloud but is moving lower today, edging towards the rising trend line and the 1.0007 barrier. Falling below the diagonal line, the risk [..]

Technical Analysis – Microsoft stock slips in narrow range in near term

Posted on May 29, 2019 at 11:30 am GMT

Microsoft price moved lower over the last few sessions, after it hit a new a multi-month high around 130.64, remaining in a short-term narrow range of 122.94 – 130.64. Looking at the momentum indicators, the RSI is flattening around the 50 level, while the stochastic is trying to turn higher in the daily timeframe. A move to the downside could find support at the lower boundary of the range of 122.94, which stands around the 40-simple moving average (SMA). A [..]

Technical Analysis – EURJPY plunges to fresh 4-month lows

Posted on May 29, 2019 at 8:28 am GMT

EURJPY plummeted to a new four-month low of 121.80 earlier today, continuing the selling interest from the 123.75 resistance zone. The pair also dropped beneath the 20- and 40-simple moving averages (SMAs), which recently posted a bearish cross, while the stochastic oscillator slipped into the oversold area. Moreover, the RSI is ready to cross below the 30 level in the 4-hour chart. Another move to the downside below the intraday low could drive the pair towards the 120.60 support level, identified by the [..]

Technical Analysis – AUDUSD regains some ground above 0.69

Posted on May 29, 2019 at 6:25 am GMT

AUDUSD is regaining some losses after the violent sell-off towards the four-month low of 0.6864 in the prior week, sending prices above the red Tenkan-sen line and the 23.6% Fibonacci retracement level of the downfall from 0.7390 to 0.6746. The RSI is currently increasing positive momentum towards its neutral threshold of 50 after an exit from overbought levels, while the MACD is heading north in negative territory, both hinting that the next move in prices could be on the upside [..]

Technical Analysis – EURGBP extends reversal from double bottom to reach 4-month high

Posted on May 28, 2019 at 1:26 pm GMT

EURGBP has advanced considerably around a fresh four-month high of 0.8850 in the previous couple of days following the creation of a double bottom formation around 0.8470 and 0.8490. The aggressive bullish run has led the price to pare some of the losses posted from the downfall from 0.9110 to 0.8470. Looking at momentum oscillators on the daily chart, they suggest further increases may be on the cards in the short-term. The RSI is above its overbought 70 line, while the MACD, already positive, lies above its trigger line. [..]

Technical Analysis – BTCUSD drops below 1-year low; indicators turn lower

Posted on May 28, 2019 at 11:19 am GMT

BTCUSD is declining after the sharp buying interest towards the one-year high of 8920.80 on Monday. Looking at momentum indicators, the RSI is lacking direction slightly below the threshold of 70, suggesting that the market could return lower in the near term. The MACD also supports this view in the positive territory and is currently embraced by its red signal line. In case of further bearish action, immediate support is coming from the 8360 barrier, taken from the peaks on May 16. If there [..]

Technical Analysis – WTI crude futures build base above 2½-month trough

Posted on May 28, 2019 at 8:09 am GMT

WTI crude oil futures found strong support at a fresh two-and-half-month low of 57.40, where the 38.2% Fibonacci retracement level of the upward rally from 42.50 to 66.60 is standing. The price drifted below the ‘golden cross’ of the 50- and 200-simple moving averages (SMAs) in the daily timeframe, while the stochastic is raising chances for bullish correction at it created a positive cross within the %K and %D lines in the oversold zone. Should the price edge higher, positive [..]

Technical Analysis – GBPUSD bears remain into play around 4½-month low

Posted on May 28, 2019 at 6:42 am GMT

GBPUSD is remaining under pressure during this month and it completed a fresh four-and-a-half-month low around 1.2600 in the preceding week. Currently, the pair has been holding beneath the red Tenkan-sen line as well as below the 23.6% Fibonacci retracement level of the downfall from 1.3380 to 1.2600, near 1.2790, suggesting more losses in the market. However, turning attention to the technical indicators, the RSI seems to be overstretched as it returned above the overbought zone but is still flattening [..]

Technical Analysis – US 500 index turns lower between SMAs

Posted on May 27, 2019 at 1:31 pm GMT

The US 500 stock index has declined considerably from the fresh all-time high of 2960.48, penetrating the Ichimoku cloud in the daily timeframe. The bearish correction picture in the short term is further supported by the MACD, which is falling below its red signal line and the RSI indicator which is turning slightly lower. Should prices move lower, support could come at the 23.6% Fibonacci retracement level of the upleg from 2332 to 2960.48 around 2813 again. Below that, the 2784 is another major support before [..]

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