Technical analysis

Technical analysis

10 May 2021
  • 19:58

    NZD / USD is trading near a nine-week high

    Today, the NZD/USD pair is trading in the range of $0.7270-90 - near a nine-week high. On the hourly chart, MA (200) H1 ($0.7215) remains above the moving average line, and on the four - hour chart, the pair remains well above MA (200) H4 ($1.7115). In this situation, you should probably stick to the north direction in trading and look for exit points to buy.


    Resistance levels are: $0.7305, $0.7380, $0.7465

    Support levels are:  $0.7270, $0.7205-15, $0.7185


    The main scenario for the pair's promotion - a break of the resistance of $0.7305 (March 2-3 high) and may be an increase to $0.7380 (February 26 high)

    An alternative scenario - breakout of the session low of $0.7270 and may be a decline to $0.7205-15 (May 7 low, MA (200) H1)


  • 19:45

    The USD/JPY pair failed to break through the resistance of MA (200) H1

    Today, the USD/JPY pair is trading in the range Y108. 45-109. 05 and tried to test the strength of the moving average line MA (200) H1 (Y109. 05). On the four-hour chart, the pair is trading below MA (200) H4 (Y109. 20). Technically speaking, the resistance of MA (200) H1 (Y109.05) can keep prices from rising further. If it breaks through, prices may soar to Y109. 30-50. The lower bound of Y108. 30 represents the support level. The most likely range of the pair's movement for today may be hidden within the range of Y108. 30-109.05

     

    Resistance levels are: Y109.05, Y109.30-50, Y109.70

    Support levels are:  Y108.30, Y108.05, Y107.45-65


    The main scenario for the pair's promotion - breakout of Y108.30 support (May 7 low) and may be a decline to Y108.05 (April 27 low)

    An alternative scenario - if the resistance of MA (200) H1 (Y109. 05) is broken, the pair can rise to Y109. 30-50 (May 4-7 highs)

  • 19:34

    USD / CHF is trading near the lows of the end of February

    Today, the USD/CHF pair is trading in the range of Chf0. 8990-0.9010, after a sharp decline on Friday from Chf0.9090 to Chf0. 9000.the pair is trading near the lows of the end of February. On the hourly chart, the pair fell below the moving average line MA (200) H1 (Chf0. 9105) and on the four-hour chart, it is trading below MA (200) H4 (Chf0.9230). In this situation, you should probably stick to the southern direction in trading and should look for exit points for sale


    Resistance levels are: Chf0.9020, Chf0.9090-0.9105, Chf0.9145

    Support levels are: Chf0.8990, Chf0.8930-45, Chf0.8870


    The main scenario for the pair's promotion - breakout of the session low of Chf0. 8990 and maybe a decline to Chf0. 8930-45 (February 19-23 lows)

    An alternative scenario - breakout of the session high of Chf0. 9010 and may be an increase to Chf0. 9090-0. 9105 (May 7 high, MA (200) H1)


  • 19:22

    GBP / USD rose to the highs of the end of February

    Today, the GBP/USD pair continues Friday's growth and rose from $1.4000 to the highs of the end of February of $1.4110. On the hourly chart, the pair rose above the moving average of MA (200) H1 ($1.3915) and on the four-hour chart, it is trading above MA (200) H4 ($1.3840). In this situation, you should probably stick to the north direction in trading and look for exit points to buy.


    Resistance levels are: $1.4115,  $1.4180, $1.4240

    Support levels are: $1.4045, $1.3975, $1.3885-1.3910


    The main scenario for the pair's promotion -  growth to $1.4115 (February 23 high), and then maybe to $1.4180 (February 25 high)

    An alternative scenario - correction and may be a decline to $1.3975 (April 29 high)

     

  • 19:07

    EUR / USD is trading near the highs of the end of February

    Today, the EUR / USD pair is trading in the range of $ 1.2135-75 after a sharp rise on Friday from $1.2050 to $1.2170. The pair is trading near the highs of the end of February. On the hourly chart, the pair rose above the moving average of MA (200) H1 ($1.2070) and on the four - hour chart-significantly above MA (200) H4 ($1.1950). Technically speaking, a session high of $1.2175 may keep prices from rising further. If it breaks through, prices may rise to $1.2440. The session low of $1.2135 represents the support level. The most likely range of the pair's movement for today may be hidden within the existing range of $1.2135-75.


    Resistance levels are: $1.2175, $1.2240, $1.2285

    Support levels are: $1.2135, $1.2050-70, $1.1985

    The main scenario for promoting the pair  - breakout of the session high of $1.2175 and may be an increase to $1.2240 (February 25 high)

    An alternative scenario - breakout of the session low of $1.2135 and may be a decline to $1.2050-70 (May 7 low, MA (200) H1)


  • 14:06

    USD/CAD is trading near September 2017 lows

    Yesterday, the USD/CAD was trading lower and closed the day in the red zone near the price of C$1.2155. Today it was trading in a narrow range of С$1.2145-65, staying close to the lows of September 2017. On the hourly chart, USD/CAD is still trading below the MA line (200) H1 (С$1.2300). The situation is similar on the four-hour chart. Based on the foregoing, it is probably worth sticking to the south direction in trading and while the USD/CAD remains below MA 200 H1, it may be necessary to look for entry points to sell on the formation of a correction.

    • Resistances levels are at: С$1.2285, С$1.2350, С$1.2415

    • Support levels are at: C$1.2140, C$1.2100, C$1.2000

    Probably, the main scenario is a continuation of the decline to C$1.2140 (May 6 low). An alternative scenario is consolidation above MA (200) H1, followed by growth to C$1.2455 (Apr 23 high).

  • 14:05

    AUD/USD is trading near February highs

    On Friday, the AUD/USD was trading higher and closed the day in positive territory around the $0.7845. Today it was trading in a narrow range of $0.7840-60, staying close to the February highs. On the hourly chart, AUD/USD is still trading above the MA line (200) H1 ($0.7755). The situation is similar on the four-hour chart. Based on the foregoing, it is probably worth sticking to the northern direction in trading, and while the AUD/USD remains above MA 200 H1, it may be necessary to look for buy entry points to form a correction.

    • Resistances levels are at: $0.7860, $0.7880, $0.7915

    • Support levels are at: $0.7790, $0.7760, $0.7740

    Probably, the main scenario - is the continuation of the upward movement to $0.7860 (May 7 high). Alternative scenario - may be final consolidation below MA 200 H1, followed by a decline to $0.7675 (May 4 low).

  • 13:45

    Gold is trading near February highs

    The XAU/USD traded higher on Friday and closed the day in positive territory around $1831. Today gold was trading in a narrow range of $1829-36, staying near the highs of February. On the hourly chart, XAU/USD is still trading above the MA line (200) H1 ($1787). The situation is similar on the four-hour chart. Based on the foregoing, it is probably worth sticking to the northern direction in trading, and while the XAU/USD remains above MA 200 H1, it may be necessary to look for buy entry points to form a correction.

    • Resistances levels are at: $1843, $1855, $1869

    • Support levels are at: $1812-16, $1788, $1770

    Probably, the main scenario is the continuation of the upward movement to $1843 (May 7 high). An alternative scenario is may be final consolidation below the MA 200 H1, followed by a decline to $1755 (Apr 29 low).

  • 13:21

    Oil stays above MA 200 H1

    On Friday, Brent crude was traded in different directions in the range of $67.60-$68.80 and closed the day without significant changes. Today oil is slightly higher, rising to the level of $69.30. On the hourly chart, Brent is still trading above the moving average MA line (200) H1 ($67.80). The situation is similar on the four-hour chart. Based on the foregoing, it is probably worth sticking to the northern direction in trading, and while Brent remains above MA 200 H1, it may be necessary to look for buy entry points for the formation of a correction.

    • Resistances levels are at: $69.60, $70.20, $71.70

    • Support levels are at: $67.60, $66.45, $65.55

    Probably, the main scenario - is a subsequent rise to $69.60 (May 6 high). An alternative scenario is final consolidation below MA 200 H1 with a subsequent decline to $64.40 (Apr 26 low).

  • 13:21

    USD/JPY testing MA 200 H1 support

    The USD/JPY traded lower on Friday and closed the day in the red around the Y108.60. Today it, on the contrary, increased slightly, rising to the level of Y108.90. On the hourly chart, USD/JPY is testing its support - the MA (200) H1 (Y109.05) moving average line. The situation is similar on the four-hour chart. Based on the foregoing, it is probably worth adhering to the northern direction in trading and until the USD/JPY finally consolidates below MA 200 H1, it may be necessary to look for buy entry points at the end of the correction.

    • Resistances levels are at: Y109.40-45, Y109.65, Y109.95

    • Support levels are at: Y108.35, Y108.15, Y107.90

    Probably, the main scenario - is the continuation of the upward movement to Y109.40-45 (May 5-6 high). An alternative scenario - may be consolidation below MA 200 H1, followed by a decline to Y108.15 (Apr 27 low).

  • 12:43

    USD/CHF is trading near February lows

    On Friday, the USD/CHF was trading lower and closed the day in the red around the Chf0.9005. Today it was trading in a narrow range of Chf0.9000-15, staying close to the February lows. On the hourly chart, USD/CHF is still trading below the moving average MA line (200) H1 (Chf0.9110). The situation is similar on the four-hour chart. Based on the foregoing, it is probably worth sticking to the south direction in trading and while the USD/CHF remains below MA 200 H1, it may be necessary to look for entry points to sell on the formation of a correction.

    • Resistances levels are at: Chf0.9060, Chf0.9090-00, Chf0.9145

    • Support levels are at: Chf0.9000, Chf0.8950, Chf0.8930

    Probably, the main scenario is a subsequent decline to Chf0.9000 (May 7 low). Alternative scenario may be consolidation above MA 200 H1 level, with further advance towards Chf0.9215 (Apr 19 high).

  • 12:18

    GBP/USD continues to rise on Friday

    The GBP/USD was trading higher on Friday and closed the day in positive territory around $1.3990. Today it also rose slightly, climbing to the $1.4040. On the hourly chart, GBP/USD is still trading above the MA line (200) H1 ($1.3905). The situation is similar on the four-hour chart. Based on the foregoing, it is probably worth sticking to the northern direction in trading, and while the GBP/USD remains above MA 200 H1, it may be necessary to look for buy entry points to form a correction.

    • Resistances levels are at: $1.4040, $1.4180, $1.4240

    • Support levels are at: $1.3970, $1.3890, $1.3855

    Probably, the main scenario - is continued growth to $1.4040 (session high). An alternative scenario is may be consolidation below the MA 200 H1 level with a subsequent decline to $1.3800 (May 3 low).

  • 12:05

    EUR/USD is trading near February highs

    On Friday, the EUR/USD was trading higher and closed the day in positive territory around the $1.2160. Today it was trading in a narrow range of $1.2150-75, staying close to the February highs. On the hourly chart, EUR/USD is still trading above the MA line (200) H1 ($1.2065). The situation is similar on the four-hour chart. Based on the foregoing, it is probably worth sticking to the northern direction in trading, and while the EUR/USD remains above MA 200 H1, it may be necessary to look for buy entry points to form a correction.

    • Resistances levels are at: $1.2180, $1.2240, $1.2280

    • Support levels are at: $1.2100, $1.2060, $1.2040

    Probably, the main scenario - is continued growth to $1.2180 (Feb 26 high). An alternative scenario - may be consolidation below MA 200 H1, followed by a decline to $1.1985 (May 5 low).

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