Technical Analysis / Page 73

Technical Analysis – AUDUSD bulls react to yesterday’s red candle

Posted on November 30, 2023 at 8:11 am GMT

AUDUSD in the green again today, close to its 4-month high Aggressive move higher from the October lows Momentum indicators potentially ready to signal a reversal AUDUSD is trying to register a strong green candle as it continues to trade above the key February 2, 2023 descending trendline. It has been an aggressive rally from the 2023 low of 0.6269 recorded in October, with AUDUSD currently hovering close to its 4-month high. All eyes are now on the momentum indicators [..]

Technical Analysis – AMD stock eases from a 5-month high

Posted on November 29, 2023 at 9:29 am GMT

AMD stock jumps to its highest since June Despite a consolidation, momentum indicators remain tilted to the upside Positively charged SMAs brighten the outlook AMD’s stock has staged a solid rally since late October, crossing above both its 50- and 200-day simple moving averages (SMAs). In the last week, the shares stormed to a fresh five-month peak before paring some gains, but both the RSI and MACD are indicating that bulls continue to hold the upper hand. If buying pressures persist, [..]

Technical Analysis – EURGBP drops beneath uptrend line

Posted on November 29, 2023 at 8:28 am GMT

EURGBP plunges below short-term SMAs Price creates 5-day bearish move MACD and RSI stand in negative areas EURGBP is posting the fifth straight red day, breaking the short-term uptrend line to the upside and falling beneath the simple moving averages (SMAs), being ready for a bearish correction. From a technical perspective, the RSI is diving beneath the neutral threshold of 50 and the MACD crossed the zero line to the downside. Both suggest that the next movement would be to [..]

Technical Analysis – USDJPY bears face their most crucial test so far

Posted on November 29, 2023 at 7:52 am GMT

USDJPY continues its decent downtrend It now tests the support set by the 100-day SMA Momentum indicators support the current move USDJPY is again lower today, recording its fifth consecutive red candle for the first time since the July correction. It is now testing the support set by the 100-day simple moving average (SMA) and the March 24, 2023 upward sloping trendline. Especially, in the case of the latter, USDJPY failed to trade below this trendline during July, thus raising [..]

Technical Analysis – NZDUSD surges to fresh almost 4-month peak

Posted on November 29, 2023 at 7:35 am GMT

NZDUSD posts aggressive bullish rally Price penetrates 200-day SMA to the upside Technical signals are strongly bullish NZDUSD skyrocketed to a fresh almost four-month high above the 0.6200 round number earlier today. The strong rebound off the 0.5770 barrier took the market well above the short-term simple moving averages (SMAs) and more importantly above the 200-day SMA, which is a bullish sign. Technically, the RSI indicator is travelling towards the overbought territory with strong momentum, while the MACD is stretching [..]

Technical Analysis – EURCHF holds within narrow range

Posted on November 28, 2023 at 11:30 am GMT

EURCHF breaks downward sloping channel to the upside Price’s momentum is weak for further upward move MACD and RSI lose momentum EURCHF penetrated the medium-term descending channel to the upside, but the momentum is too weak as the price is consolidating withing a tight range of 0.9595 – 0.9680. To attract new buyers, the bulls will have to surpass the nearby resistance of 0.9680 and move beyond the 200-day simple moving average (SMA) at 0.9700. In this case, the price could pick [..]

Technical Analysis – AUDUSD retreats from almost 4-month high

Posted on November 28, 2023 at 9:22 am GMT

AUDUSD shows some weakness in the bullish tendency Holds well above the SMAs MACD and RSI indicate negative correction AUDUSD could not find enough buyers to have a green session after the rally towards the new almost four-month peak of 0.6630. The pair is currently retreating, confirmed by the technical oscillators as well. The RSI is ticking down after the pullback off the 70 level, while the MACD is losing some momentum still standing above its trigger and zero lines. [..]

Technical Analysis – Has the GBPUSD rally run its course?

Posted on November 28, 2023 at 7:55 am GMT

GBPUSD tries to record another green candle The strong move from the October lows continues undaunted Momentum indicators remain favourable for the current move GBPUSD is trying to register its fourth consecutive green candle as the strong upmove from the October lows continues after GBPUSD managed to surpass the resistance set by the 50- and 200- simple moving averages (SMAs). The bulls’ appetite appears to be undeterred, especially as the convergence of the aforementioned SMAs is potentially opening the door [..]

Technical Analysis – Gold posts new 6-month high

Posted on November 28, 2023 at 7:35 am GMT

Gold surges in short-term Stochastic stands in overbought area, indicating bearish correction Gold prices are extending their bullish rally towards a fresh six-month high of 2,018, holding well above the simple moving averages (SMAs) in the daily timeframe. Technically, the MACD oscillator is strengthening its bullish structure above its trigger and zero lines; however, the stochastic oscillator is showing overbought conditions as it is holding above the 80 level, so a bearish correction may be a possible scenario for the [..]

Technical Analysis – USDJPY falls within sideways channel

Posted on November 27, 2023 at 1:52 pm GMT

USDJPY holds beneath short-term SMAs The 150.00 handle looks like a strong resistance MACD and RSI lose momentum USDJPY has been trading within a narrow range since November 22 with upper boundary the 149.70 resistance level and lower boundary the 148.90 support. Technically, the short-term risk is leaning to the downside. The RSI found resistance near the neutral threshold of 50, while the MACD is flattening near its trigger and zero lines. Given the current negative momentum, the question now is whether the [..]

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