Technical Analysis

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Technical Analysis – GER 30 Index bulls looking strong ahead of all-time-high

Posted on January 17, 2020 at 10:18 am GMT

Germany 30 Index (Cash) bounced off the 50-period simple moving average (SMA) yesterday, which resulted in a pickup in positive momentum and four successive positive sessions to retest the 23-month high of 13,548. The short-term oscillators suggest that positive directional momentum is strengthening. The MACD, remained above zero, and is increasing over its red trigger line, while the RSI is rising in bullish territory. Moreover, the ADX reflects a strong positive trend in place, also aided by the uptrend line [..]

Technical Analysis – USDCAD needs rally above 1.3100 for bulls to gain traction

Posted on January 17, 2020 at 8:27 am GMT

USDCAD is retreating below the 50- period simple moving average (SMA) in the four-hour chart which nicely kept the bears under control on Thursday. Technically the pair could perform neutral to negative in the short-term as the RSI is slipping below 50 and the MACD is fluctuating marginally below its zero and signal lines, whilst in Ichimoku indicators, the red Tenkan-sen line which is moving below the blue Kijun-sen line is another discouraging signal. Below the Ichimoku cloud, the 1.3000 [..]

Technical Analysis – GBPJPY rises near upper boundary of the trading range

Posted on January 17, 2020 at 8:03 am GMT

GBPJPY is trading sideways over the last month, struggling within the 50.0% Fibonacci retracement level of the downleg from 147.95 to 140.80 near 144.40 and the 141.10 support level. However, looking at the very short-term timeframe the pair rebounded on the 140.80 barrier on January 6 and surpassed the moving averages, suggesting an upward wave. The technical indicators are suggesting an upside tendency as well. The MACD jumped above its trigger line and it is holding in the positive area, [..]

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Technical Analysis – USDCHF slips to 15-month low; oversold signals strengthen

Posted on January 16, 2020 at 3:51 pm GMT

USDCHF having cracked below the 2019 trough in the last minute in December it ticked to 15-month low of 0.9612 on Friday. The bearish short-term bias remains intact but oversold signals are strengthening now as the RSI is testing the 30 level and the Stochastics are diving below 20, while the price itself is already close to the lower Bollinger band, all hinting that the negative action may be running out of steam. The middle Bollinger band currently at 0.9729 [..]

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Technical Analysis – USDTRY pulls back, but maintains broader upward trajectory

Posted on January 16, 2020 at 3:09 pm GMT

USDTRY posted some losses in recent sessions, after the bulls met resistance at the 5.985 top. Yet, the pair continues to print higher highs and higher lows above both its 50- and 200-day simple moving averages (SMAs), which keeps the overall outlook positive. For that to change, the bears would need to post a low beneath 5.68. Short term oscillators suggest that the latest retreat may continue in the immediate term. The RSI, already below 50, is pointing down – [..]

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Technical Analysis – GBPNZD halted by 200-day MA; maintains negative nature

Posted on January 16, 2020 at 3:05 pm GMT

GBPNZD continues its attempts to press lower even after the pair’s recent decline from the 2.0414 high, which was obstructed by the 200-day simple moving average (SMA). Providing some backing towards this view is the momentum indicators and the Tenkan-sen line, which has distanced itself below its flat Kijun-sen line. In the short-term oscillators, it looks as if negative momentum may be picking up. The MACD is in the negative zone, looking to return below its red trigger line, while [..]

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Technical Analysis – Copper futures unlock 8-month high; positive momentum increases

Posted on January 16, 2020 at 1:23 pm GMT

Copper futures for March delivery stretched their rally to a fresh eight-month peak of 2.8794 earlier today, exiting from the squeeze Bollinger Band. The near-term bias is looking bullish as the RSI is heading upwards near the 70 level, while the MACD surpassed its red trigger line, remaining in the positive territory. Should the price make another move higher, it’s likely to meet resistance at 2.9180 as this level has capped prices since late April 2019. A successful break above this key [..]

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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 [..]

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