Technical Analysis / Page 651

Technical Analysis – AUDUSD pierces 200-day MA after a year; bias cautiously bullish

Posted on April 17, 2019 at 7:22 am GMT

AUDUSD crawled slightly above the 200-day simple moving average (SMA) early on Wednesday for the first time in more than a year to meet resistance at a two-month high of 0.7205. Positive momentum could hold in the short term as the red Tenkan-sen line continues to gain ground above the blue Kijun-sen, while the MACD keeps fluctuating comfortably above its red trigger line. At the same time, the pair is also trading along the upper Bollinger band over the past few days, [..]

Technical Analysis – EURAUD’s free fall to new 4-month low; neutral to bearish bias

Posted on April 17, 2019 at 7:08 am GMT

EURAUD is diving beneath the short-term narrow range today, sending prices towards the lower Bollinger band and reaching a fresh four-month low of 1.5681. The pair found a strong resistance obstacle on the mid-level of the Bollinger band (20-SMA), while the technical indicators are endorsing the bearish view. The MACD oscillator is ready to post a negative cross with its trigger line and the RSI is declining below the neutral threshold of 50. Further weak momentum in the pair, below [..]

Technical Analysis – EURNZD finds wall near 1.6725; bullish cross between SMAs

Posted on April 16, 2019 at 1:23 pm GMT

EURNZD has found strong resistance level around the 1.6725 barrier, as it failed several times in the past days to have a daily close above it. The 20- and 40-simple moving averages (SMAs) recorded a bullish crossover in the daily timeframe, increasing possibilities for more upside pressure. The technical indicators though, are flattening in the positive area, confirming the past two neutral days. In case the pair maintains its short-term direction to the upside after the bounce off the 18-month bottom of [..]

Technical Analysis – GBPAUD rebounds on 2-month low; downside correction in near term

Posted on April 16, 2019 at 12:00 pm GMT

GBPAUD rebounded on the two-month low of 1.8195 on Monday, sending prices above the 38.2% Fibonacci retracement level of the upleg from 1.7220 to 1.8860, around 1.8195. The RSI is turning slightly higher approaching the 50 level, while the stochastic seems to be strongly bullish as the %K line and the %D line completed a positive cross in the oversold zone. On the upside, resistance could come around the 20-day simple moving average (SMA) currently at 1.8415 while next the [..]

Technical Analysis – Johnson & Johnson struggles in trading range, capped by 50-day SMA

Posted on April 16, 2019 at 9:20 am GMT

Johnson & Johnson stock price has been squeezed within a narrow range with upper boundary the three-and-a-half-month high of 140.20 and lower boundary the 134.40 support over the last two months in the daily timeframe. The price is capped by the 50-simple moving average (SMA), acting as strong resistance obstacle, while the technical indicators are signaling more gains. The RSI is approaching the 50 level and the positive territory and the stochastic is heading north. Upside moves may drive the price action [..]

Technical Analysis – GBPUSD trends along a short-term descending line

Posted on April 16, 2019 at 7:27 am GMT

GBPUSD closed with few gains on Monday, remaining inside the Ichimoku cloud and below the descending line drawn from the 9-month high of 1.3380. Both the RSI and the MACD have been making efforts to exit the bearish territory, with the former reversing towards its 50 neutral mark and the latter easing negative momentum to climb above its red signal line. While those attempts provide some optimism, they are not enough yet to support strong positive prospects for the short-term trading. A strong [..]

Technical Analysis – WTI futures slow down but still above rising trend line

Posted on April 16, 2019 at 7:16 am GMT

WTI futures recorded a stunning rally in the previous weeks towards a fresh five-month high of 64.75, marking a run above the 61.8% Fibonacci retracement level of the downleg from 76.90 to 42.50, around 63.73. This week, though, the price is on the backfoot and the technical indicators suggest that the market could ease in the short-term. The RSI is currently moving with increasing negative momentum towards its neutral threshold of 50 after an exit from overbought levels, while the [..]

Technical Analysis – US 30 index bulls still have control; flirts with 6-month high

Posted on April 15, 2019 at 1:18 pm GMT

The US 30 index is hovering slightly below the six-month high of 26,496, remaining well above the ‘golden cross’ between the 50- and 200-day simple moving averages (SMAs). Today, though, the index is on the backfoot and the technical indicators suggest that the market could ease a little bit in the short-term. The RSI is flattening in the positive zone, while the MACD stands below its trigger line. In case of a correction lower, preliminary support may be found near the 50-day SMA currently at 25,822 as well [..]

Technical Analysis – Netflix stock eases below SMAs in neutral bias

Posted on April 15, 2019 at 11:50 am GMT

Netflix stock price posted a significant red day on Friday, heading below the short-term moving averages in the daily timeframe, creating a neutral bias. The RSI indicator dropped beneath the 50 level with strong momentum, while the MACD oscillator is weakening below the trigger line over the last three months, but it is still developing in the positive territory. Should the market extend losses, support could be met between the 23.6% Fibonacci retracement level of the upleg from 230.60 to [..]

Technical Analysis – AUDJPY drifts near 4-month peak; turns bias to slightly bullish

Posted on April 15, 2019 at 9:27 am GMT

AUDJPY advanced considerably on Friday, jumping above the sideways channel of 77.40 – 79.80 and posting a new four-month high around 80.50. Ichimoku indicators are raising neutral flags as the red Tenkan-sen line is above the blue Kijun-sen line but failed to signal a direction. On the other hand, the RSI and the stochastic are pointing down in the positive area, suggesting bearish correction. Should prices decline, immediate support could be found around 79.80, an area which has provided as [..]

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