Technical Analysis

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Technical Analysis – Soybean futures pause bearish action; could bounce up in short-term

Posted on April 24, 2018 at 1:42 pm GMT

Soybean futures for May delivery have already erased half of their gains made from April 3 to April 14 and are now consolidating losses near three-week lows in the four-hour chart. In the short-term, the downward pattern could remain in place as long as the SMAs trend to the downside and prices hold below them. Still, upside movements cannot be ruled out yet since both the RSI and the Stochastics are currently located in the oversold area, with the former fluctuating marginally below [..]

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Technical Analysis – EURGBP struggles for more upside movement; still in bearish-tilting channel

Posted on April 24, 2018 at 1:35 pm GMT

EURGBP accelerated sharply higher in the previous week but it has struggled to extend its gains over the last hours. The pair remains in a slightly downward-tilting channel, which has been in place since September 2017. The longer-term neutral to bearish outlook was recently confirmed again when the pair touched an 11-month low of 0.8620 on April 16. In the near-term, the price failed to break the 40-day simple moving average (SMA) and is moving lower, as well as the technical indicators. The RSI indicator is pointing down [..]

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Technical Analysis – Ebay stock retreats after touching 43.00 key level; bullish in long-term

Posted on April 24, 2018 at 12:24 pm GMT

Ebay stock price has been retreating in the past two trading days following the strong pullback on the 43.00 handle on Friday. When looking at the bigger picture the price has been trading higher since June 2016 after its rally from 22.29 support level. In the weekly timeframe, the 50-simple moving average (SMA) is ready for a bullish cross with the 200-SMA, signaling further gains. Turning our attention in the daily timeframe, the price touched the 40-SMA, which is acting as strong support [..]

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Technical Analysis – WTI crude oil futures stands near 3-year high; bullish bias in near term

Posted on April 24, 2018 at 8:51 am GMT

WTI futures have reversed back up again after finding support at the 67.10 barrier achieved on Monday. The price completed two straight bullish weeks and is approaching the three-year high of 69.52. The bullish picture in the short term is further supported by the technical indicators. In the 4-hour chart, the MACD oscillator is rising and posted a bullish cross with its red trigger line, while the Relative Strength Index (RSI) is approaching the overbought level, near 70. The 20-simple [..]

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Technical Analysis – GBPUSD steadies after steep losses; remains in sideways channel

Posted on April 24, 2018 at 6:45 am GMT

GBPUSD sank aggressively over the last five trading days following the bounce off the 22-month high of 1.4375, which it hit last week. The pair recorded a new five-week low during today’s Asian session of 1.3917. Price action is at the moment taking place not far above this bottom. The RSI has fallen into negative territory but is sloping slightly to the upside, indicating that the market could weaken a little bit in the short-term to provide further losses. Stochastics are still in oversold [..]

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Technical Analysis – Verizon stock remains under pressure; could weaken further in short-term

Posted on April 23, 2018 at 1:05 pm GMT

Verizon stock is looking more neutral to bearish in the near term as prices have slipped and have remained below the 49.20 strong resistance level since February 20. Although prices have found support from the 20- and 40-day simple moving averages the upside momentum appears to have run out of steam as prices have been attempting and failing to close above the aforementioned resistance barrier. The bearish bias is also supported by the RSI indicator, which has been hovering slightly below the 50-neutral [..]

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Technical Analysis – Gold hits near two-week low; looking bearish in the short-term

Posted on April 23, 2018 at 8:55 am GMT

Gold plunged during today’s European session, following declines in the two previous days. The price reached a two-week low of 1330.70 after the pullback on the 1355 resistance level.  It is worth mentioning that the price has been trading within a range since January 25 with the 1365 resistance level being the upper boundary and the 1307 support level the lower boundary. From the technical point of view in the 4-hour chart, the RSI indicator is sloping to the downside and is approaching oversold levels, while the MACD oscillator is moving sharply lower below [..]

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Technical Analysis – EURUSD penetrates long-term ascending trend line; still stands in symmetrical triangle in near-term

Posted on April 23, 2018 at 6:38 am GMT

EURUSD has been underperforming in the past two days, breaking below the long-term ascending trend line, which has been holding since March 2017. However, the single currency is still standing in the symmetrical triangle formation against the greenback as it finished the day around the 1.2250 price level, near the lower boundary. In the daily timeframe, the RSI indicator is currently increasing negative momentum below the threshold of 50, while the MACD oscillator is slowing down in positive zone and created [..]

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Technical Analysis – EURCHF trades around 3-year high; bullish bias but possibility of overstretched rally

Posted on April 20, 2018 at 11:41 am GMT

EURCHF reached a more than three-year high of 1.2004 during the end of today’s European session, after the recovery from the 0.9650 low hit in January 2015. The price posted an aggressive bearish run this January losing more than 24500 pips. Since then, the pair has been trading in an upward sloping channel and is completing the fourth consecutive bullish week. Zooming in the daily timeframe, the upside momentum appears to have run out of steam as prices have been attempting and failing to [..]

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Technical Analysis – AUDJPY posts 8-day low; stochastics paint negative picture in very short-term

Posted on April 20, 2018 at 10:32 am GMT

AUDJPY has retreated a bit after reaching a five-week high of 84.06 last week. Earlier on Friday, the pair hit an eight-day low of 82.71. The RSI has been largely moving sideways in recent days, pointing to the absence of short-term momentum in either the upside or the downside. The stochastics, however, are projecting a negative picture in the very short-term: the %K line remains below the slow %D one, with both lines heading lower. Immediate support could be taking [..]

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