Technical Analysis / Page 653

Technical Analysis – USDJPY unlocks 111.00 key level again; indicators signal neutral mode

Posted on April 11, 2019 at 6:43 am GMT

USDJPY is trading near the psychological level of 111.00 and is capped by the 40-day simple moving average (SMA). The sell-off in the preceding days drove the price well above the flat 200-day SMA indicating a possible bearish retracement in the short-term. The momentum indicators, the RSI and the MACD, are moving sideways near the 50 level and around the zero line respectively. Should the pair continue the bearish pressure and slip beneath the 20-day SMA, it could move towards the 23.6% Fibonacci retracement level of the upleg from 104.64 [..]

Technical Analysis – JPMorgan stock looks neutral but still above 50-day SMA

Posted on April 10, 2019 at 1:07 pm GMT

JPMorgan stock price has been moving between the 50- and 200-day simple moving averages (SMAs) over the last ten trading days and around the 50.0% Fibonacci retracement level of the downleg from 119.18 to 91.07, near 105.13. From the technical point of view, the stochastic oscillator is heading down after it found resistance in the overbought zone, while the RSI indicator is losing momentum in the positive territory. However, despite the indicators, the red Tenkan-sen line is moving up, suggesting [..]

Technical Analysis – CADJPY struggles around 40-SMA; flat in short term

Posted on April 10, 2019 at 11:36 am GMT

CADJPY has been finding strong support on the 40-day simple moving average (SMA) since the beginning of this month, creating a narrow sideways move. Regarding to the momentum indicators, the RSI is flattening near the neutral threshold of 50 and the MACD is hovering above trigger and zero lines. Also, the price action holds above the mid-level of the Bollinger band, creating a trading range between the 38.2% Fibonacci of 81.42 and the 61.8% Fibonacci of 84.40 of the downleg from 89.25 to 76.60. An advance [..]

Technical Analysis – CHI50 stock index flies to new 1-year peak but enters overbought zone

Posted on April 10, 2019 at 9:17 am GMT

China’s 50 stock index experienced fresh buying interest after beating resistance around the 13,100 level, with the price spiking to a new one-year high of 13,917 early on Wednesday. While the RSI and the stochastics warn of an overbought market and the MACD suggests a softer trading in the short term as the indicator seems to be losing steam above its red signal line, the market needs to weaken back below 13,100 and the 20-day moving average for traders to resume cautious behavior. The [..]

Technical Analysis – EURCHF rises after rebound on 20-month bottom

Posted on April 10, 2019 at 8:27 am GMT

EURCHF continues to rise above the strong support level of the 20-month low of 1.1160, surpassing the 20-day simple moving average (SMA). According to the RSI, positive momentum could push for further gains in the short-term as the indicator picks up steam above 50. The stochastic is advancing in the overbought territory; negative corrections cannot be excluded. In the positive scenario, where the price continues to expand above yesterday’s high of 1.1280, the pair could move towards the 23.6% Fibonacci retracement [..]

Technical Analysis – EURJPY in a short downtrend; bulls wait above 126.77

Posted on April 10, 2019 at 8:11 am GMT

EURJPY is building a downtrend below 127.49 since the start of March, with the pair being set to register another lower high this week around 125.60. The technical picture suggests neutral conditions for short-term trading as the RSI and the MACD hover in neutral territory. Yet a close above 126.77 would question the short downtrend and boost bullish sentiment, shifting attention straight up to 127.53 and near to the 200-day moving average (MA). An aggressive rally above the latter could increase buying orders significantly, with resistance coming [..]

Technical Analysis – AUDUSD climbs higher but indicators are still weak

Posted on April 10, 2019 at 6:29 am GMT

AUDUSD is paring the limited losses that posted on Tuesday, but the technical indicators suggest a continuation of the recent neutral situation in the short-term. The MACD oscillator entered the positive territory, surpassing the trigger line, however, it is still moving with weak momentum. Furthermore, the RSI indicator is pointing marginally up near the neutral threshold of 50. Both are suggesting that significant gains are less likely to occur. It is worth mentioning that the price is still developing within the [..]

Technical Analysis – GBPAUD slips below bearish cross of short-term SMAs

Posted on April 9, 2019 at 1:29 pm GMT

GBPAUD extended the last four days’ losses and is currently trading not far above a six-week low around the 38.2% Fibonacci retracement level of the upward movement from 1.7220 to 1.8860. The RSI turned lower after entering the 50 level and it continues to head lower in support of a negative short-term picture. The bias in the very-short-term also looks bearish as indicated by the stochastics: the %K and %D lines are negatively aligned and are both moving further down. Further declines may [..]

Technical Analysis – General Electric stock shows recovery after a gap down

Posted on April 9, 2019 at 11:59 am GMT

General Electric stock opened with a gap down and within the oversold zone on Monday according to the RSI in the four-hour chart but the 200-period simple moving average (SMA) capped bearish action immediately. While the rebound in the RSI subdues chances for another negative turn, it is worth noting that the low on March 6 (9.02)has violated the previous trough of 9.51 and therefore the December uptrend. In coming sessions traders would be interested to see whether the breach [..]

Technical Analysis – USDCHF continues bullish action in short and long terms

Posted on April 9, 2019 at 11:45 am GMT

USDCHF is heading upwards after it posted a strong rebound on the 23.6% Fibonacci retracement level of the upleg from 0.9185 to 1.0130 around the 0.9900 psychological level. Technically, the red Tenkan-sen line is pointing north, indicating a bullish action, however, the RSI is moving near the neutral threshold of 50. Immediate resistance is coming from the 40-simple moving averages (SMA) currently around 1.0000, which is standing near the upper surface of the Ichimoku cloud. A jump above these lines could shift traders’ eyes at the 20-month [..]

Legal disclaimer: The material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instruments. XM accepts no responsibility for any use that may be made of these comments and for any consequences resulting in it. No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. The research and analysis does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it.

It has not been prepared in accordance with legal requirements designed to promote the independence of research, and as such it is considered to be marketing communication. Although we are not specifically constrained from dealing ahead of the publication of our research, we do not seek to take advantage of it before we provide it to our clients. We aim to establish, maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. We operate a policy of independence, which requires our employees to act in our clients’ best interests and to disregard any conflicts of interest in providing our services.

CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losing all of your invested capital, so please make sure that you fully understand the risks involved.

How can we help?

Live Chat Terms

How to Access

Telegram Chat Terms

Technical Analysis