Bullish Rebound Underway For WS30?

• 21 Feb 2022

USD/JPY

The USDJPY pair has stalled after a sell-off took the pair back below the 115.41 support line and back towards the ascending trendline. Bullish rebounds typically take place at this support level. Momentum indicators have moderate downward trajectories.

 

 

 

 

GBP/USD

The GBPUSD pair continues to test the descending trendline, as bullish momentum so far, appears insufficient to drive the break. Another pullback seems likely as the next trajectory of price action. Momentum indicators have stalled in bullish territory. 

 

 

 

 

EURUSD

The EURUSD continues to stall mid-range with neither buyers nor sellers willing to drive price action. Fundamental factors are going to drive the pair rather than technical support and resistance. Momentum indicators have moderate downward trajectories.  

 

 

 

 

XAUUSD

XAUUSD appears to be beginning a price reversal as a doji candle in the last trading session marks the end of the rally, which has now been followed by a rise in selling activity. Momentum indicators reflect the bullish bias, however, RSI is starting to reverse.

 

 

 

 

 

NDX100

The NDX100 index has returned to a previous price low at the 13.928 support line as bearish sentiment continues to rise in the short-term. Momentum indicators have flattened in bearish territory with RSI moving closer to the oversold line.  

 

 

 

 

JP225

JP225 has been held at the 26,624 support line as recent bearish moves have brought price action back to this recent low. A bullish rebound followed on one previous occasion and currently, buyers appear to be dominating the Asian trading session.   

 

 

 

 

WS30

WS30 is beginning a reversal after touching a key support level at the 34,027 support line. On several previous occasions, bullish rebounds have taken place at this price level- which has effectively contained any downside moves.