Monday, October 14, 2019

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Technical Analysis – Gold consolidates, capped by SMAs

Gold buyers are attempting to tackle the converging simple moving averages (SMAs) in the sideways market. The 20-period SMA, from a flattened state, deflected off the horizontal 100-period SMA completing a bearish crossover of the 50-period SMA, suggesting that the commodity is leaning more towards a short-term negative outlook. The short-term oscillators

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Technical Analysis – EUR/USD remains in a downtrend despite rally

EUR/USD rose as high as 1.1062 following the breach of the four-month-old downward-sloping line but the technical indicators signaled overbought conditions, with the price correcting slightly lower and towards the key 1.1025 level. The short-term bias is looking bullish to neutral in the four-hour chart as the RSI is heading towards its 50

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Technical Analysis – USD/CAD short-term bias is neutral-to-bearish

USD/CAD bears reverse below 200-day SMA and 50.0% Fibonacci. USD/CAD trades between the converging simple moving averages (SMAs) with the sellers attempting to move underneath the 50-day SMA, after a deflection off the upper band of a two-month trading range. The signals from the tangled SMAs are indistinct. However, the MACD, although

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Technical Analysis – GBP/CHF looks overbought

GBP/CHF looks overbought after a steep rally. GBP/CHF staged an impressive rally on Thursday, recouping most of the losses recorded since mid-September and rising well above its simple moving averages (SMA) and the Ichimoku cloud on the four-hour chart. The forceful upside correction, however, looks fragile as the fast-stochastics and the RSI signal overbought conditions, indicating

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