Technical Analysis


Technical Analysis – UK100 stock index holds onto bullish bias but is losing momentum

Posted on September 19, 2019 at 2:57 pm GMT

UK100 stock index has been mostly on the sidelines so far this month, bouncing back and forth between the 38.2% and 50% Fibonacci retracement levels of the downleg from 7,729 to 7,018. Interestingly, though, the price continues to keep intact the rebound from the 6-month low of 7,018 while holding above the Ichimoku cloud. The momentum indicators are currently suggesting that there is some upside pressure in store as the RSI is comfortably above its 50 neutral mark. Yet, the gradual improvement in the MACD indicates [..]


Technical Analysis – EURJPY recovery starts to lose steam; 50-SMA holds strong

Posted on September 19, 2019 at 2:41 pm GMT

EURJPY bulls retook control bouncing off the 119.00 handle, which is the 23.6% Fibonacci retracement level of the up leg from 115.85 to 120.00 and where the restrictive 50-period simple moving average (SMA) also rests. The bears’ multiple attempts to breach below the 50-period SMA have been denied and the price seems to have started to adopt a sideways move. The 100- and 200-period SMAs are nearing a completion of a bullish cross, which supports the short-term developing bullish bias. [..]


Technical Analysis – EURGBP does not look ready for a meaningful rally yet

Posted on September 19, 2019 at 1:29 pm GMT

EURGBP seems to have reached oversold levels near the 200-day simple moving average (SMA) as the RSI is showing some positive movement after flatlining near its 30 oversold levels. The MACD and the red Tenkan-sen are also looking ready to change direction, though as long as the indicators hold in bearish territory, downside pressure is expected to dominate. Besides that, the bearish intersection of the 20- and 50-day SMAs should also keep traders cautious if the lines remain negatively aligned. An extension [..]


Technical Analysis – GBPJPY bullish vibes still evident

Posted on September 19, 2019 at 9:22 am GMT

GBPJPY topped September’s rally at a familiar place of 135.64 on Wednesday and reversed lower to retest the 20-period simple moving average (SMA) in the four-hour chart. Given that the RSI is hovering slightly above its 50 neutral mark and the red Tenkan-sen line has flattened above the blue Kijun sen, the risk in the short-term is currently viewed as neutral-to-bullish.   Should the price overcome the 1 ½-month high of 135.64, the bulls could strengthen towards the 136.26 handle, while a break of the 137.00-137.77 [..]


Technical Analysis – EURCHF still in a downtrend, but shows early reversal signs

Posted on September 19, 2019 at 8:27 am GMT

EURCHF bulls briefly overcame the formidable 1.0970 zone, which is the 23.6% Fibonacci retracement level of the down leg from 1.1475 to 1.0810, although the bears seized back control and are currently challenging that level. In recent weeks, the pair has been in recovery-mode, reclaiming some of the losses it posted during a nineteen-week decline that commenced on April 23. The unfolding short-term positive outlook also seems to be backed by the 21- and 42-day simple moving averages (SMAs), as the [..]


Technical Analysis – NZDCHF undecided, finds support at 23.6% Fibonacci and 21-SMA

Posted on September 18, 2019 at 3:14 pm GMT

NZDCHF uncertain of direction has found support at 0.6280, this being the 21-day simple moving average (SMA) and the 23.6% Fibonacci retracement level of the down leg from 0.6670 to 0.6161. The restricting 42-day SMA pushed the price down after it rallied from a fourty-seven-month low of 0.6161 to the 0.6400 handle. The 21-day SMA and the MACD suggest that the short-term positive momentum has dried up. The MACD – although above its red trigger line – is in the [..]

Technical Analysis – AUDUSD capped by the 50.0% Fibonacci; moves into Ichimoku cloud

Posted on September 18, 2019 at 9:25 am GMT

AUDUSD shifted sideways into the Ichimoku cloud after its attempt to recoup the losses that commenced on July 19 was halted at the ceiling of 0.6880 – the 50.0% Fibonacci retracement level of the down leg from 0.7081 to 0.6676. The 21-day simple moving average (SMA) seems to be approaching a bullish cross, while the Tenkan-sen line has inclined sharply above the Kijun-sen one, both suggesting some positive strength. However, the MACD and the RSI reflect decreasing positive momentum, as [..]

Technical Analysis – USDJPY attracts buying interest; 50% Fibonacci eyed

Posted on September 18, 2019 at 7:18 am GMT

USDJPY has finally revived some bullish power, spiking above its shorter-term simple moving averages (SMA) and the Ichimoku cloud to reach one-month highs slightly above the 108 level. Technically, the market could retain positive momentum in the short-term as the RSI, the Tenkan-sen and the MACD all point upwards in the bullish area. The 108.40 handle, which is the 50% Fibonacci of the downleg from 112.39 to 104.44, is currently in sight and any significant step above this mark may likely bring a more important barrier [..]


Technical Analysis – US30 stock index flirts with uptrend line and 50-SMA

Posted on September 17, 2019 at 3:27 pm GMT

US30 stock index pierced below the uptrend line drawn from August 26 but found support from the 50-period simple moving average (SMA) around the 27,000 handle. The index has been in a two-week uptrend, during which it plotted a seven-week high of 27,312 from where the price inched down to test the uptrend line. The Ichimoku lines, Tenkan-sen and Kijun-sen, completed a bearish cross but signal no clear direction. The Chikou span is declining with the price, warning of a [..]

Technical Analysis – WTI gaps higher and breaks upper boundary

Posted on September 17, 2019 at 10:11 am GMT

WTI oil futures’ steam cooled after a fierce move led to a break above the upper boundary of the three-and-a-half-month sideways market, with the price of the commodity already starting to consolidate again. The price had gapped above the simple moving averages (SMAs), which now paint a positive picture, with their bullish cross. The stall in the price is also reflected in the momentum indicators, as they show positive momentum has calmed. The MACD, although having inclined above its red [..]

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