Technical Analysis / Page 86

Technical Analysis – Tesla stock in symmetrical triangle ahead of earnings

Posted on October 18, 2023 at 7:55 am GMT

Tesla stock generates a symmetrical triangle pattern Battles with 50-day SMA ahead of its earnings call on Wednesday Momentum indicators suggest a cautiously negative tone Tesla’s stock has been generating a structure of lower highs but higher lows after peaking at the 2023 high of 298.70 in July. In the near term, the price experienced a minor pullback, which got curtailed by the 50-day simple moving average (SMA) as earnings announcement looms. Should selling pressures intensify, the price could face [..]

Technical Analysis – USDCHF has another chance for a rebound

Posted on October 18, 2023 at 7:44 am GMT

USDCHF snaps key floor; short-term bias bearish Downside pressure could stay limited above 50-day SMA USDCHF is marking its third consecutive bearish week, having recently enhanced negative risks below the protective 200-day simple moving average (SMA) and the support trendline from July’s lows. The 0.8980-.8995 restricted zone, which had been capping upside movements during April-July 2023, could switch into a support area, while the 50-day SMA at 0.8950 could provide the last opportunity for a rebound before a freefall towards the 0.8890 [..]

Technical Analysis – USDJPY bears could be preparing for a downleg

Posted on October 18, 2023 at 7:26 am GMT

USDJPY edges lower as market focuses on geopolitical events Quieter sessions lately but risk of intervention remains at large Momentum indicators continue to send mixed signals USDJPY is in the red today as market participants’ attention is monopolized by geopolitical developments and the increased risk of another oil price rally. The pair is experiencing a period of relative calm, but the intervention threat remains as USDJPY continues to trade a tad below the 150 assumed threshold. With today’s candle nicknamed the [..]

Technical Analysis – AUDUSD rebounds but not bullish yet

Posted on October 17, 2023 at 2:34 pm GMT

AUDUSD rotates higher but short-term bias not bullish yet Current resistance at 0.6360; bulls want a rally above 0.6430 China’s Q3 GDP growth figures could move aussie pairs AUDUSD saw fresh buying interest last week near the falling trendline from March 2023. This has increased optimism for the pair to rise towards the resistance trendline from July, located around 0.6400 and near the 200-period exponential moving average (EMA) in the four-hour chart. Technically, the bulls have not gotten the [..]

Technical Analysis – GBPJPY powerless near key border

Posted on October 17, 2023 at 8:48 am GMT

GBPJPY holds muted tone after hitting key resistance Outlook neutral within the 179.00-183.20 region GBPJPY has been steadily declining since its peak at 186.45, hitting a low of 178.00 earlier this month before rising back above 180.00. The resistance trendline from August’s peak came to cancel last week’s bullish action at 183.80, with the technical indicators currently raising doubts as to whether the pair will find enough buyers to rotate higher again. The RSI is not making much progress around 50, and the [..]

Technical Analysis – GBPUSD struggling to stage a rebound

Posted on October 17, 2023 at 7:24 am GMT

GBPUSD stuck in a steep decline since mid-July Bounces off seven-month low but fails to post a moderate recovery Completion of death cross could induce downside pressures GBPUSD has been forming a structure of lower highs and lower lows since its 16-month peak of 1.3141. Meanwhile, in the near term, both the RSI and the stochastic oscillator are tilted to the bearish side, shattering the bulls’ hopes for a sustained rebound. Should the downtrend resume, the price may initially face [..]

Technical Analysis – JP225 cash index bulls’ appetite dented by external factors

Posted on October 17, 2023 at 7:12 am GMT

JP225 cash index hovers below the 50-day SMA Geopolitical developments continue to affect sentiment Momentum indicators on the fence at this juncture The JP225 cash index is trading higher today with the bulls interested in canceling out last Friday’s sizable red candle. It has been a strong short-term upleg from the October 4 low at 30,273, but the bulls need a new peak, above the September 15 high at 33,649, in order to stop the developing bearish pattern of lower [..]

Weekly Technical Outlook – GBPUSD, AUDUSD, Gold

Posted on October 16, 2023 at 1:56 pm GMT

Gold hits important resistance as geopolitics remain on the forefront GBP/USD has weak technical outlook ahead of key data releases AUD/USD supported near October low; technical picture still fragile Israel-Hamas war –> Gold In response to Israel’s warning, investors sought safety in gold, driving the precious metal up by 3.0% to $1,932 and near its 200-day simple moving average (SMA). The risk of escalation remains intact as the timing of a possible invasion remains unclear while clashes with Lebanon’s Hezbollah militants intensify [..]

Technical Analysis – EURUSD gets rejected at descending trendline

Posted on October 16, 2023 at 8:16 am GMT

EURUSD stuck in a clear downward path, seems unable to recover Latest rebound encounters strong resistance at key trendline Momentum indicators endorse a resumption of the downtrend EURUSD has been in a steady retreat after peaking at the 18-month high of 1.1275, generating a series of lower highs and lower lows. Although the pair managed to find its feet at the 10-month bottom of 1.0447, its recovery faltered after hitting the descending trendline that connects its recent lower highs. Should the bears [..]

Technical Analysis – USDCAD bulls roar back; eyes on 1.3700

Posted on October 13, 2023 at 8:07 am GMT

USDCAD treats its wounds with solid bounce Caution needed as familiar resistance nearby USDCAD gathered significant momentum on Thursday, flipping weekly losses into a 0.20% gain after a slightly stronger US CPI report. The pair kept its footing above its simple moving averages (SMAs), but the descending trendline from the 2020 top resumed its resistance role, halting the bullish action marginally below 1.3700. Despite some positive signs coming from the RSI and the stochastic oscillator, the bulls need to break [..]

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