Technical Analysis / Page 652

Technical Analysis – EURUSD in bullish mood but caution still needed

Posted on April 15, 2019 at 7:09 am GMT

EURUSD is pushing hard to enter the 1.13 neighbourhood and pierce its 50-day simple moving average (SMA) after a bullish week. Technically, the risk seems to be skewed to the upside as the RSI is holding a positive slope above its 50 neutral mark and the MACD continues to distance itself above its red signal line. However, with the stochastics fluctuating near overbought territory, any gains could come limited. Should the pair overcome the 23.6% Fibonacci of 1.1326 of the [..]

Technical Analysis – Gold maintains bearish bias below 1,300 in near term

Posted on April 15, 2019 at 6:53 am GMT

Gold remains under pressure and the risk is still to the downside as prices continue to drift lower from the 23.6% Fibonacci retracement level of the upleg from 1160 to 1346.61 around 1302 and beneath the 20- and 40-simple moving averages (SMAs) in the daily timeframe. The short-term technical indicators are bearish and point to more weakness in the market. The RSI indicator is moving slightly lower in negative territory, while the stochastic oscillator entered the oversold zone. The next target is the April [..]

Technical Analysis – EURAUD lacks clear tendency; SMAs signal bearish bias

Posted on April 12, 2019 at 11:21 am GMT

EURAUD has been moving sideways in the short-term and long-term timeframes. Over the last two-months, the price has been developing between the 1.6120 resistance level and the 1.5720 support barrier, trading below the 20- and 40-simple moving averages (SMAs) in the daily chart. The market could maintain its consolidation mode as the RSI and the MACD are holding near their neutral levels with weak momentum. An extension to the upside and above the moving averages could meet the next resistance level of 1.6120, taken from the latest [..]

Technical Analysis – EURGBP stuck in a range but bullish signals seem to strengthen

Posted on April 12, 2019 at 9:37 am GMT

EURGBP jumped above the 50-day simple moving average (SMA) and into the Ichimoku cloud on Friday for the first time since the start of the year, raising hopes for further improvement. The momentum indicators comply with this view as long as the RSI keeps increasing speed to remain above its 50 neutral mark and the MACD holds in positive territory. Still, for a longer-lasting rally in the near term, the pair needs to break its range-bound trading within the 0.8470-0.8726 [..]

Technical Analysis – BTCUSD dives beneath SMAs, but finds support at 23.6% Fibonacci

Posted on April 12, 2019 at 8:57 am GMT

BTCUSD returned near the 23.6% Fibonacci retracement level of the upleg from 3313 to 5440 around 4940 but failed to drop below it over the last few sessions. The price found strong resistance near the five-month high of 5440, slipping below the 20- and 40-simple moving averages (SMAs), however, the technical indicators suggest that bearish correction may came to an end. The stochastic is edging higher after the dive in oversold zone, while the RSI is flattening in the negative zone. In case [..]

Technical Analysis – USDCAD fails to improve bullish actions; neutral in near term

Posted on April 12, 2019 at 5:54 am GMT

USDCAD has been remaining steady near the 23.6% Fibonacci retracement level of the upleg from 1.2250 to 1.3663 around 1.3230 over the last month, failing confirm once again its long-term upside tendency. The price is hovering within the Ichimoku cloud, while the red Tenkan-sen and the blue Kijun-sen lines are flattening. Furthermore, the RSI holds near the threshold of 50 and the MACD is standing below its trigger line and near its zero level. Both are confirming the recent bias in the daily [..]

Technical Analysis – GBPCAD could see further gains above short-term SMAs

Posted on April 11, 2019 at 1:02 pm GMT

GBPCAD is rising after it found strong support at the 38.2% Fibonacci retracement level of the upward movement from 1.6590 to 1.7795, around 1.7335. The technical indicators are trying to strengthen their momentum, mirroring the market’s behavior over the last days as the RSI is approaching the 50 level, while the MACD is still holding in the bearish area but is edging higher. Additional increases may drive the price towards the 20- and 40-day simple moving averages (SMAs) currently around [..]

Technical Analysis – Brent futures in slippery mode but bias remains bullish

Posted on April 11, 2019 at 11:49 am GMT

Brent crude oil futures are easing on Thursday below the multi-month high of 71.77, heading towards the 20-simple moving average (SMA) in the 4-hour chart. According to the MACD, the market seems to be ready for negative correction as the index dropped beneath the trigger line and the RSI found resistance at the 70 level. Moreover, the stochastic is edging lower after it touched the overbought territory. Should the price extend declines, the 70.72 level, which overlaps with the 40-SMA [..]

Technical Analysis – NZDUSD remains in consolidation area; stochastics suggest bullish bias

Posted on April 11, 2019 at 9:05 am GMT

NZDUSD has been developing within a consolidation area over the last three months with upper boundary the strong resistance level of 0.6940 and the support level of 0.6720. In the near term, the price rebounded on the 200-day SMA, posting three positive days. Technically, the %K line of the stochastic oscillator is gaining ground after the bullish cross with the %D line in the previous days, while the MACD is trying to advance above trigger line in the negative territory. [..]

Technical Analysis – GBPJPY looks neutral in short-term; uptrend at risk

Posted on April 11, 2019 at 8:41 am GMT

GBPJPY has been on the sidelines this week and the current movement in the RSI and the MACD recommends that the short-term trading may continue to be uneventful as the former is still moving close to its 50 neutral mark and the latter shows no clear direction near the zero and red signal lines. Traders, however, remain cautious as the market has recently attempted to violate the upward pattern that started in early January by marking a lower high below the 3 ½ -month [..]

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