Technical Analysis / Page 650

Technical Analysis – GBPJPY on a sideways move; 23.6% Fibonacci appears to be strong support

Posted on April 19, 2019 at 6:56 am GMT

GBPJPY has been on a sideways move for the most part of the week as the 23.6% Fibonacci retracement level of the upleg from 132.48 to 148.85, around 145.00 and the 200-day simple moving average seem to be critical obstacles for the bears. From the technical point of view, the price could lose some momentum in the short-term as the RSI is flattening below the 50 level and the stochastic oscillator is approaching oversold territory. Another rebound on the 23.6% [..]

Technical Analysis – Copper futures pare some significant losses; rebound on 2.8300 still stands

Posted on April 18, 2019 at 1:24 pm GMT

Copper futures with delivery on May 2019 are rising, paring previous sessions’ losses below the 20- and 40-simple moving averages (SMAs) in the 4-hour chart. However, the technical indicators remain in bearish territory, with the RSI sloping slightly up and the stochastic turning higher in the oversold zone. On the other hand, the MACD oscillator is still endorsing the bearish view as it is weakening below its trigger line. In case of an upside reversal, the price could reach the [..]

Technical Analysis – GBPCAD meets support at 1.7350 again; loses momentum

Posted on April 18, 2019 at 11:51 am GMT

GBPCAD touched the 38.2% Fibonacci retracement level of the upleg from 1.6590 to 1.7795 around 1.7335 once again, failing to decline further. Currently, the price is developing within the Ichimoku cloud, while the 20- and 40-simple moving averages (SMAs) posted a bearish crossover in the preceding sessions. The RSI indicator is flattening, mirroring the market’s behavior over the last few days and the MACD is moving marginally below the trigger line in the negative area. In case of increases, the [..]

Technical Analysis – GER30 index rallies to 6-month high; some fragility expected in short term

Posted on April 18, 2019 at 10:06 am GMT

Germany 30 cash index (GER30) gained considerable traction after breaking the neckline (11,690) of the inverted head and shoulders pattern earlier this month, topping the rally at a six-month high of 12,194 on Wednesday. While, the RSI warns of an overbought market that could pressure the price lower in the short term, the uptrend off the 10,276 bottom may stay in place as long as the price continues to trade well above its simple moving averages (SMA). The bulls would aim for the 12,458-12,600 resistance area if the market [..]

Technical Analysis – USDCHF moves towards upper level of ascending triangle

Posted on April 18, 2019 at 9:21 am GMT

USDCHF is edging higher after the rebound on the 0.9890 support and the 23.6% Fibonacci retracement level of the upleg from 0.9185 to 1.0130, around 0.9900 and is moving towards the strong resistance obstacle of the ascending triangle, which has been holding since September 2018. The 20- and 40-day simple moving averages (SMAs) are ready for a bullish crossover, confirming the recent upward movement. Technically, the MACD oscillator is strengthening its momentum above the trigger and zero lines, however, the [..]

Technical Analysis – NZDUSD faces strong support at 0.6720; completes 3-month low

Posted on April 18, 2019 at 7:11 am GMT

NZDUSD reached a fresh three-month low of 0.6665 on Wednesday but it failed to end the day below the medium-term consolidation area with upper boundary the 0.6940 resistance and lower boundary the 0.6720 support. The pair remains slightly below the 200-day simple moving average (SMA) suggesting more losses, while the RSI indicator is sloping south in the negative territory. If the bears manage to take control and penetrate the sideways channel, support would likely come from the lower boundary near 0.6705. [..]

Technical Analysis – USDJPY bulls face big challenge around 112

Posted on April 18, 2019 at 7:07 am GMT

USDJPY has been on the sidelines for the most part of the week as the 112 level seems to be a real struggle for the bulls. Technically, the price could lose some ground in the short-term as the RSI is changing direction to the downside and towards its 50 neutral mark, while the Stochastics are warning over an overbought market, having already created a bearish cross within the %K and %D lines. A rebound on the 20-day simple moving average (SMA) and [..]

Technical Analysis – ETHUSD hovers inside Ichimoku cloud; indicators signal bullish bias

Posted on April 17, 2019 at 1:22 pm GMT

ETHUSD has been trading inside the Ichimoku cloud and between the 20- and 40-simple moving averages (SMAs) in the 4-hour chart. Over the last week the price has been moving sideways after the drop beneath the 168.30 barrier. The MACD oscillator is heading upwards, above the trigger line and the RSI entered the positive zone, pointing upwards. Resistance could occur around the 168.30 hurdle, which coincides with the 40-SMA. A break above this area could increase the bullish sentiment, retesting the 23.6% [..]

Technical Analysis – Pepsi stock tumbles after reaching multi-month high

Posted on April 17, 2019 at 12:25 pm GMT

Pepsi stock price recorded a stunning rally on Monday towards a multi-month high of 123.95, though it returned its gains a day after. The momentum indicators are supportive of the bearish move, with the RSI falling into negative territory below 70 and approaching the 50 neutral mark, while the MACD sank below its trigger line in the positive territory. Immediate support is being provided by the 120.75 barrier, taken from the latest lows. Should prices dip lower again, the next [..]

Technical Analysis – EURJPY soars near 1-month peak; more gains expected

Posted on April 17, 2019 at 8:45 am GMT

EURJPY is heading sharply higher over the last 4-hour session, approaching the one-month high of 126.80, first reached on April 15. The successful climb above the 20-simple moving average (SMA) and the red Tenkan-sen line give the opportunity to traders to think about potential bullish actions in the near term. The RSI is ready to touch the overbought level, while the MACD is on the way to surpass its trigger line. A close above 126.80 would boost bullish sentiment, shifting attention straight up [..]

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