Technical Analysis

Technical Analysis – NZDUSD bulls push above Ichimoku cloud and 100-SMA

Posted on September 5, 2019 at 9:51 am GMT

NZDUSD steady and 1 ½-month old decline below the capping 50-period simple moving average (SMA), saw the bulls on September 3 come on board. The price overcame the 50-period SMA and pushed through the Ichimoku cloud on Thursday to challenge the longer-term 100-period SMA and the inside swing low of 0.6376. Momentum indicators are backing a bullish view in the short-term. The MACD has distanced itself from its red trigger line and increased into positive territory. The RSI broke into [..]

Technical Analysis – AUDUSD cautiously bullish at a critical point

Posted on September 5, 2019 at 7:27 am GMT

AUDUSD is positioned at a crucial point in the four-hour chart. The pair closed marginally above the 200-period simple moving average (SMA) and managed to pierce the upper boundary of its one-month old range early on Thursday before pulling downward slightly. The MACD cautiously suggests a bullish bias for the short-term as the indicator is still in the positive direction but near former peaks. The RSI, however, seems to be slowing down above its 70 overbought mark and the fast-Stochastics [..]

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Technical Analysis – AUDCAD capped by 0.9050 and 23.6% Fibo in a sideways move

Posted on September 4, 2019 at 3:39 pm GMT

AUDCAD plummeted aggressively from 0.9250 after a two-week period of producing red candles. Following the fall from the previous swing high of July 23 into a one-month trading range, the upside pressure hit a ceiling at the 0.9050 level. Positive momentum has picked up in the short-term. The MACD has distanced itself above its trigger line in the bearish region, and the RSI crossed marginally above the neutral level into bullish territory. Furthermore, the 21-day simple moving average (SMA) has [..]

Technical Analysis – EURJPY declines below 2017 low; bulls recoup losses

Posted on September 4, 2019 at 10:47 am GMT

EURJPY bulls took back five days of extended losses which stretched below the 2017 low of 116.45, moving the price above the mid-Bollinger band. The momentum indicators also reflect an increase in bullish directional momentum in the very short-term. The MACD has distanced itself above its red trigger line in the negative region, while the RSI moved out of the oversold area and crossed the 50-neutral level into bullish territory. Another bullish signal occurred as the price moved above the [..]

Technical Analysis – GBPJPY corrects Tuesday’s damage but still exposed to downside risks

Posted on September 4, 2019 at 7:24 am GMT

GBPJPY recouped Tuesday’s downfall that led the price near the almost three-year low of 126.53 and the doji candle registered early in August. The positive movement, however, remains fragile and the market is still exposed to downside risks as the RSI continues to move below its 50-neutral mark and the MACD keeps fluctuating in the negative area and around its red signal line. An extension above the August 22 high of 130.68 and the descending trend-line could boost confidence on the recent rebound and increase [..]

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Technical Analysis – EURAUD bears retrace down; halt at the 61.8% Fibonacci level

Posted on September 3, 2019 at 3:48 pm GMT

EURAUD bulls pushed to a peak of 1.6678, slightly above the January 3 high of 1.6655, before sellers took control and sent the pair back down to 1.6230, which is the 61.8% Fibonacci retracement level of the up-wave from 1.5893 to 1.6784. The gradual upward slope in the 200-day simple moving average (SMA) backs the positive sentiment in the medium-term. However, the flattened 50-day SMA and the completed downward reversal of the 21-day SMA, suggests a short-term pullback could be [..]

Technical Analysis – EURGBP climbs above 200-SMA; 100-SMA applies the brakes

Posted on September 3, 2019 at 9:51 am GMT

EURGBP declined over the last three weeks to levels just above the 0.9000 psychological number, forming a base for the lows. Bulls brought ammunition yesterday pushing above the 2018 high of 0.9098. Overcoming the 200-period simple moving average (SMA) and the 0.9127 level, which is the 23.6% Fibonacci retracement level of the up leg from 0.8490 to 0.9324, they then encountered the 100-period SMA wall slightly higher. Although the 100-period SMA is declining, the 28- and 50-period SMA, which have [..]

Technical Analysis – GBPUSD bearish signals strengthen within descending channel

Posted on September 3, 2019 at 7:22 am GMT

GBPUSD could not sustain its recent rebound as the upward line of the descending channel proved hard to break, with the bears leading the price slightly below the the key barrier of 1.1986 and to new 31-month lows on Tuesday. Technically, the negative momentum could stay in play in the short-term as the bearish signals have strengthened with the MACD slipping backwards in the negative area and under its red signal line and the RSI extending its downward move below its 50 [..]

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Technical Analysis – US dollar index futures spike above 99.00, enter overbought waters

Posted on September 2, 2019 at 4:33 pm GMT

The clear upside direction in the RSI and the positive slope in the Stochastics are framing a bullish picture for the short-term, though with the indicators entering overbought waters, the positive momentum could soften soon. Friday’s closing price above the upper Bollinger band is another indication that room for improvement could be limited. In case of a downside reversal, the 98.00 barrier could act as immediate support before last week’s trough of 97.50 grabs attention. Another step lower could bring the lower Bollinger band, currently [..]

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Technical analysis – Microsoft stock starts to ease after 7-month rally

Posted on September 2, 2019 at 4:12 pm GMT

Microsoft stock logged a high of 141.61 after a seven-month uptrend, before shifting into a one-month sideways move. The stock found support from the 23.6% Fibonacci retracement level of the up leg from 94.48 to 141.61, of 130.50, as well as the 132.60 level, capped by resistance at 139.40. Momentum has disappeared, as the MACD and trigger line have converged at zero, while the RSI although marginally above the 50-level, has been unable to break above previous highs. Furthermore, the [..]

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