Technical Analysis


Technical Analysis – CHFJPY slips in bullish picture in medium term

Posted on February 10, 2020 at 11:20 am GMT

CHFJPY has declined considerably after the pull back on the 113.10 zone and the 20-day simple moving average (SMA). Currently, the price is capped by the 40-day SMA and is moving near the minor rising trend line drawn from October 4 with the technical indicators moving lower. The RSI is standing below the 50 level and the MACD slipped beneath the trigger line in the positive zone. Immediate support is being provided by the ascending trend line above the 111.70 [..]


Technical Analysis – Gold’s climb restricted by Bollinger band and 23.6% Fibonacci

Posted on February 10, 2020 at 9:42 am GMT

Gold’s gradual incline – after reversing ahead of the 1,546 low – appears to have stalled between the 50-period simple moving average (SMA) and the upper-Bollinger band residing at the 23.6% Fibonacci retracement of the up move from 1,458.42 to 1,611.28. The short-term oscillators reflect improving positive momentum. The MACD, above its red trigger line, has risen above the zero mark, while the RSI is increasing in the bullish territory. Moreover, all SMAs have kept their bullish picture intact. A [..]


Technical Analysis – Dollar Index futures hold at 4-month high; lack direction in long-term

Posted on February 10, 2020 at 8:54 am GMT

The US dollar index reached a fresh four-month high of 98.56 as the price extended its bull run well above the Ichimoku cloud and the moving averages lines. Prices broke above the 98.47 barrier and the technical indicators are suggesting a weaker bullish move. The MACD is holding above the trigger and zero lines, while the RSI flattens near the 70 level. It is worth mentioning that the 20-day simple moving average (SMA) crossed above all the short- and long-term [..]


Technical Analysis – EURUSD drops to a 4-month low; enters oversold area

Posted on February 10, 2020 at 8:18 am GMT

EURUSD met strong resistance near the broken ascending trendline at the end of January and changed direction to the downside, violating its uptrend off 1.0878 and diving to a four-month low of 1.0940 early on Monday. From a technical perspective, the short-term bias remains negative since all indicators are still located in the bearish area. Yet, the odds for an upside correction are increasing as the RSI and the Stochastics approach oversold levels. Should an upside reversal happen, the bulls would try to close [..]


Technical Analysis – AUDJPY reverses lower, picture turning negative

Posted on February 7, 2020 at 12:44 pm GMT

AUDJPY posted a ‘golden cross’ in mid-January – which is usually a positive sign – but was unable to sustain the upside momentum. Instead, the price structure on the daily chart seems to be turning negative, with lower highs and lower lows below both the 50- and 200-day simple moving averages (SMAs). A dive back below 72.40 would confirm that the outlook has turned bearish. Short-term momentum oscillators endorse an increasingly negative picture, with the RSI turning down after testing [..]


Technical Analysis – GBPNZD maintains neutral-to-bullish bias above cloud

Posted on February 7, 2020 at 11:21 am GMT

GBPNZD has been consolidating over the last four months with upper boundary the 2.0430 resistance and lower boundary the 50.0% Fibonacci retracement level of the up leg 1.8280 – 2.0550, near 1.9410. However, the broader picture remains positive as the price is hovering above the seven-month ascending trend line. Turning the attention to the technical indicators, the RSI is sloping up after the bounce off the 50 level, while the stochastic is turning slightly higher before it hit the 20 [..]


Technical Analysis – GER 30 Index pullback looks to test positive picture

Posted on February 7, 2020 at 11:00 am GMT

Germany 30 Index (Cash) is pushing under the 13,519 level, following a deflection off the 13,604 resistance from January 24. The candles reflect sellers’ efforts for a down move, something also suggested within the short-term oscillators, where negative momentum appears to be picking up. The MACD, deep in the positive region, has slipped below its red trigger line, while the RSI declines lower in bullish territory following an exit from the overbought zone. The Stochastic lines have reached the 20 [..]


Technical Analysis – GBPJPY could stay neutral; trend signals skewed to the downside

Posted on February 7, 2020 at 8:11 am GMT

GBPJPY keeps trading sideways but short-term trend signals seem skewed to the negative side as the pair has already crossed below the supportive trendline, the 50-day simple moving average (SMA) is preparing to cross above the 20-day SMA, while the price itself is fluctuating marginally below the Ichimoku cloud. The neutral mood is likely to stay in the short-term if the RSI and the MACD continue to lack direction, with the price expected to be congested between the 61.8% Fibonacci [..]


Technical Analysis – USDCAD struggles below 2-month peak; surpasses downtrend line

Posted on February 7, 2020 at 7:51 am GMT

USDCAD had a successful jump above the one-year falling trend line, recording a two-month high, but it found some a obstacle near the 50.0% Fibonacci retracement level of the down leg from 1.3664 to 1.2950 near 1.3305. The buying interest seems to be soft as the technical indicators are suggesting a possible pull back in the short-term. The stochastic oscillator created a bearish crossover within its %K and %D lines in the overbought zone, while the RSI is flattening near [..]


Technical Analysis – Amazon stock cautiously bullish despite pullback

Posted on February 6, 2020 at 4:16 pm GMT

Amazon stock aggressively gapped up near to 2,050 on 31 January and proceeded to plot a fresh all-time-high of 2,066.36 before correcting slightly below 2,034. Buyers’ efforts are currently steering the stock back up, a move aided by the upward sloping simple moving averages (SMAs) and the recent bullish crossover of the 200-day SMA by the 50-day one. Moreover, the technical indicators suggest positive momentum may keep up with the latest move, even though the RSI and Stochastics are located [..]

We are using cookies to give you the best experience on our website. Read more or change your cookie settings.

Risk Warning: Your capital is at risk. Leveraged products may not be suitable for everyone. Please consider our Risk Disclosure.