Technical Analysis

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Technical Analysis – Japan 225 index stalls ahead of 14-month peak of 24,162

Posted on January 16, 2020 at 11:40 am GMT

Japan 225 stock index (cash) has run out of fuel in its second attempt to overtake the 24,162 level. The recent stall in the up move can also be seen in the flattening of the Bollinger bands and the RSI, which is in the bullish territory. The short-term oscillators reflect mixed signals of momentum while the simple moving averages (SMAs) lean towards an improving picture. The MACD is rising above its red trigger line in the positive zone, while the [..]

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Technical Analysis – CHFJPY flies near 13-month high; positive in medium term

Posted on January 16, 2020 at 10:12 am GMT

CHFJPY has been in a flying mode over the last six days and today, it recorded a new 13-month peak of 114.30. The RSI entered the overbought territory and is still pointing up, while the MACD surpassed its trigger line with strong momentum. To the upside, the pair needs to overcome today’s top (114.30) to meet a key barrier near 114.60, registered on December 2018. The 118.05 mark could act as resistance too before a more important battle starts near 118.55, [..]

Technical Analysis – USDJPY bulls trapped below 110.00 after breaking resistance trendline

Posted on January 16, 2020 at 8:08 am GMT

USDJPY is stuck below the 110.00 level after closing above the strong resistance trendline stretched from mid-September 2018. In the short-term, the pair is expected to trade with caution as the slowdown in the RSI’s positive momentum, which is currently near its former peaks, and the negative intersection between the Stochastics in the overbought area, suggest that the bullish action may be running out of steam. If the price retreats, the resistance trendline should turn a support area to verify [..]

Technical Analysis – NZDUSD maintains bearish picture in very short-term

Posted on January 16, 2020 at 7:48 am GMT

NZDUSD traded with losses over the last two weeks, following the pullback off the five-month high of 0.6754 and now, it is creating a downward sloping channel. Currently, the price is trading slightly above the short-term simple moving averages (SMAs) near the return line of the channel. The RSI on the 4-hour chart is missing direction in positive area, while the MACD oscillator is moving higher, approaching the zero line. Also, the red Tenkan-sen keeps flattening below the blue Kijun-sen line, reducing chances for [..]

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Technical Analysis – US 500 index prints bearish doji after new record high of 3,295

Posted on January 15, 2020 at 1:49 pm GMT

The US 500 stock index (cash) seems to be completing a bearish doji star formation if it ends the day in the red. The price recorded a fresh all-time high of 3,295 on Tuesday but the overbought conditions have already been detected as the RSI has been flattening near the 70 level over the last month. The slowdown in the MACD further increases the case for a downside correction or at least for some stabilization. Traders would like to see [..]

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Technical Analysis – EURCHF tumbles towards 33-month low; negative outlook at play

Posted on January 15, 2020 at 10:16 am GMT

EURCHF is holding to losses for the third week in a row, dropping to a 33-month low of 1.0758 earlier today. The sharp sell-off has driven the pair beneath the six-month trading range of 1.0810 – 1.1055, turning the outlook from neutral-to-bearish. In the very short-term, the market could maintain a downward move if the RSI keeps moving in the oversold zone and the MACD extends its momentum below the trigger line. Regarding the trend, the 20-day simple moving average (SMA) continues to lose [..]

Technical Analysis – AUDUSD retreats below short symmetrical triangle

Posted on January 15, 2020 at 8:34 am GMT

AUDUSD is slipping below a short symmetrical triangle formed between the 20- and the 50-period simple moving averages (SMAs) in the four-hour chart. However, the fact that the 20-period SMA is preparing to cross above the 50-period SMA is still sending some possible trend signals if completed. In momentum indicators, signals remain neutral to bearish as the RSI is pointing downwards below 50, while the MACD keeps flattening around its red signal line. Should sellers dominate below the 0.6880 restrictive [..]

Technical Analysis – EURJPY hovers below 6-month peak; holds in ascending channel

Posted on January 15, 2020 at 7:32 am GMT

EURJPY has been trading within an upward sloping channel after the rebound on the 28-month low of 115.85, reached on September 2019. Currently, the price is trading close to yesterday’s six-month high of 122.75, having pulled back slightly. The near-term bias is looking neutral-to-bullish as the RSI is flatlining above the 50-neutral level, while the MACD oscillator posted a positive crossover within its trigger line above the zero area. Moreover, the bullish crosses within the 20- and 40-simple moving averages (SMAs) and [..]

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Technical Analysis – Apple stock hits another record in exponential uptrend

Posted on January 14, 2020 at 4:06 pm GMT

Apple’s stock price continues to hit record highs after record highs, with the rate of gains increasing exponentially in recent months, something shown by the increasingly steep slope of the uptrend lines that have been supporting the price action. Practically everything paints a bullish picture, with the stock posting higher highs and higher lows above all its moving averages, and above the steepening uptrend lines. The only warning signal comes from the RSI, which seems to have topped deep within [..]

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Technical Analysis – Alcoa stock exits from ascending triangle; lacks direction

Posted on January 14, 2020 at 1:14 pm GMT

Alcoa stock is heading lower and seems to be exiting the squeezed Bollinger band channel and the ascending triangle formation, falling below the 19.48 support. The triangle had been holding since July 2017 when it started the sideline move. From a technical viewpoint, the MACD is losing momentum below its red signal line and the RSI is still hovering in the negative territory but is pointing up, suggesting a possible recovery. Should weakness extend below the 19.48 mark again, support to downside movements could initially be [..]

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