Technical Analysis


Technical Analysis – Microsoft stock maintains bullish outlook below record high

Posted on February 17, 2020 at 1:49 pm GMT

Microsoft’s stock price is trading not too far from the new record high of 189.50 on Tuesday, having pulled back slightly. But momentum indicators suggest that a possible downside correction may be on the cards. In regard to the technical oscillators, the near-term bias is looking neutral-to-bearish as the RSI is flatlining at the 70 level, while the stochastics are pointing south and the %K and %D lines are negatively aligned. Should the price make another run higher, it’s likely to meet resistance at [..]


Technical Analysis – USDCHF shows improvement in Ichimoku cloud; stands near 2-month high

Posted on February 17, 2020 at 10:42 am GMT

USDCHF finally climbed above the strong support of 0.9760 that had been capping upside moves since late December and questions are rising now about whether the market can sustain the break in the coming sessions.   The positive cross in the 20- and 40-day simple moving averages (SMAs) drove the market within the Ichimoku cloud, while the MACD oscillator is painting a rosy picture for the short-term timeframe as it runs comfortably above the trigger line. Also, the RSI indicator [..]


Technical Analysis – EURUSD cautiously bearish; forms inverted hammer

Posted on February 17, 2020 at 9:43 am GMT

EURUSD appears to have slowed slightly – with the development of an inverted hammer pattern – ahead of the April 2017 gap of 1.0820 – 1.0777 following a descent, which deflected off the 50-day simple moving average (SMA) around 1.1095. The short-term oscillators, although still negative, are showing a marginal increase in positive momentum. The MACD is deep in the negative region and below its red trigger line, though smoothing slightly, while the RSI has made a minor improvement in [..]


Technical Analysis – Gold bulls look exhausted near 2-week peak in very short-term

Posted on February 17, 2020 at 7:15 am GMT

Gold stretched its upside rally to a two-week high of 1,584.90 on Friday before pulling slightly lower in a bullish sloping channel in the 4-hour chart. Currently, in the near term, the price is losing some momentum confirmed by the technical indicators as the RSI is flattening near the 70 level, suggesting an overbought market. Also, the stochastic oscillator is turning lower as it posted a bearish crossover within its %K and %D lines above the 80 level, signaling a [..]


Technical Analysis – AUDCHF remains bearish despite reversal off all-time low

Posted on February 14, 2020 at 12:41 pm GMT

AUDCHF is currently flirting with the flat blue Kijun-sen line around 0.6586, following a pullback off the all-time low of 0.6436. Backing this improvement, is the red Tenkan-sen line that has turned up and the technical indicators. The short-term oscillators reflect strengthening positive momentum. The rising Stochastic lines are entering the overbought region. Furthermore, the MACD is increasing above its red trigger line in the negative zone, while the RSI is pointing up, barely below the 50 mark. However, traders [..]


Technical Analysis – GBPAUD flirts with 1.9400 number; positive prospects

Posted on February 14, 2020 at 11:26 am GMT

GBPAUD has gained little this week but it managed to hold above the 20-day simple moving average (SMA) and re-enter the 1.9400 area, however, the technical indicators feed prospects for a possible improvement in the near term. The RSI indicator is flattening in the bullish area, while the stochastic is heading north, approaching the 80 level. That said, the red Tenkan-sen line keeps falling slightly above the blue Kijun-sen line, reflecting the recent pause in positive momentum. A failure to [..]


Technical Analysis – GBPJPY’s attempt to improve pauses ahead of 76.4% Fibonacci

Posted on February 14, 2020 at 9:22 am GMT

GBPJPY yesterday bounced off the 20- and 50-period simple moving average (SMAs) and jumped above the flattened 200-period SMA. The fresh improvement in the price – within the one-month trading range from 140.82 to 144.60 – was soon stalled around a previous high beneath the 143.60 level, which is the 76.4% Fibonacci retracement of the down move from 148.86 to 126.53. The short-term oscillators reflect conflicting signals. The MACD is increasing above its red trigger line in the positive zone, [..]


Technical Analysis – USDCAD could lose more below 1.3235

Posted on February 14, 2020 at 8:33 am GMT

USDCAD is set to close negative after five consecutive green weeks. Particularly, the bulls gave up the rally near the previous peak of 1.3326 on Monday despite piercing it and pulled back into the 1.3200 territory. Expectations are for the cautious sentiment to stay in play in the short-term as the RSI is weakening towards its 50 neutral mark and the MACD is slowing below its red signal line. Yet, whether the price will extend its sell-off or consolidate will likely [..]


Technical Analysis – GER 30 index hits fresh record high; could stabilize in short-term

Posted on February 13, 2020 at 3:54 pm GMT

The German 30 stock knocked January’s all time high of 13,639 on Wednesday and printed a fresh peak of 13,791 on Thursday. With the price pulling below the upper Bollinger band, some caution could emerge in the short-term. Still, any weakness could prove temporary if the area between the middle Bolinger band, which is also the 20-day simple moving average (SMA), and the 50-day SMA currently near 13,300 rejects any move lower, shifting the spotlight back to the 13,600 level [..]


Technical Analysis – GBPCAD holding bullish above the ascending trendline

Posted on February 13, 2020 at 3:02 pm GMT

GBPCAD’s positive momentum appears to be picking up ahead of the uptrend line drawn from the September 3 low. The move up seems to be assisted by the fresh bullish crossover of the 50-day simple moving average (SMA) by the 20-day one, as well as the technical indicators. The short-term oscillators reflect an improving picture with the Stochastics %K and %D lines rising above 20 and having room to cover before reaching the 80 overbought point. The MACD, in the [..]

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