Technical Analysis

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Technical Analysis – EURAUD flattens after touching 3-month low

Posted on November 13, 2018 at 2:01 pm GMT

EURAUD slipped to a fresh 3-month low earlier today of 1.5574. The price has lost its positive momentum in the longer-term picture as it penetrated the rising trend line to the downside during the previous week. In the short-term, the pair is creating an aggressive bearish rally following the bounce off the 1.6350 resistance level and it fell below the 23.6% Fibonacci retracement level of the upleg from 1.3625 to 1.6350, near 1.5715. Technically, the RSI slipped in the oversold zone and is [..]

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Technical Analysis – WTI crude oil futures hover near 9-month low; bearish bias in short-term

Posted on November 13, 2018 at 9:16 am GMT

West Texas Intermediate (WTI) futures plummeted to a new nine-month low of 58.66 on Monday, creating the eleventh red day in a row. Prices remain below the simple moving averages (SMAs) in the 4-hour chart and are hovering slightly above the aforementioned low. According to the momentum indicators, the blue %K line of the stochastic oscillator is turning higher, ready to create a bullish crossover with the red %D line. The RSI indicator is flattening in the bearish territory. Both are suggesting an end to the [..]

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Technical Analysis – GBPUSD falls below 1.29; could attempt to erase losses

Posted on November 13, 2018 at 7:41 am GMT

GBPUSD declined back below the Ichimoku cloud and the 1.2900 key level on Monday, erasing part of its recent strong rebound. Momentum indicators, however, signal that the market may attempt to retrace its losses in the short-term as the Stochastics are on track to create a bullish cross in the oversold territory, below 20, while the RSI looks to be changing direction to the upside and towards its 50 neutral mark. Yet, as long as the RSI holds below 50, negative corrections [..]

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Technical Analysis – ETHUSD loses momentum again below moving averages

Posted on November 12, 2018 at 2:04 pm GMT

ETHUSD is losing momentum over the last couple of days after the bounce off the upper Bollinger Band at 220. The price declined below the 20- and 40-simple moving averages in the 4-hour chart, while from the technical point of view the indicators are standing near their neutral levels. The RSI indicator is moving near the threshold of 50, while the MACD is weakening close to zero line. In case of a jump above the moving averages, this would open the way towards [..]

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Technical Analysis – Gold plummets to a new 1-month low; bearish rally in progress

Posted on November 12, 2018 at 9:00 am GMT

Gold dived to a fresh one-month low of 1203.83 today after recording six negative days in a row. The price seems to hold far away from the 20- and 40-simple moving averages (SMAs) in the 4-hour chart, which are sloping to the downside, endorsing the negative view. The Relative Strength Index declined to the oversold zone, indicating bearish sentiment, while the MACD oscillator is falling with strong momentum below the trigger and zero lines. The significant leg below the 1206.58 support level, could stop around the 50.0% Fibonacci retracement level [..]

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Technical Analysis – EURUSD on a slippery slope; bears break the 1.1300 bottom

Posted on November 12, 2018 at 8:46 am GMT

EURUSD had a bearish start on Monday, with the price breaking a crucial support at 1.1300 to drop towards 1.1267, the lowest since June 2017. The pair has also increased distance below its negatively sloped moving average lines and the Ichimoku cloud, indicating that the recent downtrend might hold for longer. Momentum signals are bearish as well as the red Tenkan-sen line, which is below the blue kijun-sen line, looks to be heading south, while the RSI has reversed lower [..]

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Technical Analysis – EURUSD on a slippery slope; bears break the 1.1300 bottom

Posted on November 12, 2018 at 7:57 am GMT

EURUSD had a bearish start on Monday, with the price breaking a crucial support at 1.1300 to drop towards 1.1267, the lowest since June 2017. The pair has also increased distance below its negatively sloped moving average lines and the Ichimoku cloud, indicating that the recent downtrend might hold for longer. Momentum signals are bearish as well as the red Tenkan-sen line, which is below the blue kijun-sen line, looks to be heading south, while the RSI has reversed lower [..]

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Technical Analysis – Japan 225 index retreats from 2½-week high; bearish signal by stochastics in very short term

Posted on November 9, 2018 at 1:17 pm GMT

The Japan 225 index shifted gears, losing around 450 points relative to Thursday’s two-and-a-half-week high of 22,579. The RSI halted its previous advance and reversed lower into bearish territory below 50. This suggests a tilt in short-term momentum towards a bearish direction. The stochastics are also giving a negative signal in the very short-term, as the %K and %D lines recorded a bearish cross. Steeper losses may meet support around the 22,000 mark that may hold psychological importance; the area [..]

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Technical Analysis – US 30 index bounces sharply, re-approaches record highs

Posted on November 9, 2018 at 11:40 am GMT

The US 30 index rebounded sharply in recent sessions, after finding support near a medium-term uptrend line drawn from the lows of February 6. The index has now crossed back above both the 50- and 200-day simple moving averages (SMA), which implies the short-term outlook is now back to positive. Taking a look at short-term oscillators, the RSI looks to be headed lower for a test of its neutral-50 line, signaling that positive momentum is losing some steam. The MACD, [..]

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Technical Analysis – USDCAD tries to jump even higher; bullish in long-term

Posted on November 9, 2018 at 7:06 am GMT

USDCAD is challenging the 1.3170 resistance level after it failed several times to close below the 23.6% Fibonacci retracement level of the upleg from 1.2060 to 1.3385, around 1.3072. According to the RSI, the market could maintain positive momentum in the short-term as the indicator is positively sloped above its neutral threshold of 50, while the MACD oscillator is ready to post a bullish crossover with its trigger line in the daily chart. In case of a significant leg above the 1.3170 [..]

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