Technical analysis

Technical analysis

27 October 2021
  • 20:22

    NZD/USD is testing MA (200) H1

    Today, the NZD/USD pair is trading in the range of $0.7130-80 and is testing the MA (200) H1 moving average line ($0.7140) on the hourly chart. On the four-hour chart, the pair remains above MA (200) H4 ($0.7035). Technically speaking, a strong resistance level of $0.7195 may keep prices from rising further. If it breaks through, prices may soar to $0.7220. The lower bound of $0.7130 represents the support level. The most probable range of the pair's movement for today may be hidden within the range of $0.7130-95.


    Resistance levels are: $0.7220, $0.7270, $0.7315

    Support levels are:  $0.7130, $0.7050, $0.6960


    The main scenario for the pair's promotion — resistance breakout is $0.7195 (October 26 high) and there may be an increase to $0.7220 (October 21 high)

    An alternative scenario — support breakout of $0.7130 (October 22-25 low, session minimum) and there may be a decline to $0.7050 (October 18 low)


  • 20:12

    USD/JPY pair dropped below MA (200) H1

    Today, the USD/JPY pair declined from Y114.20 to Y113.55 and on the hourly chart fell below the moving average line MA (200) H1 (Y114.10). On the four-hour chart, the pair is trading well above MA (200) H4 (Y111.85). Technically speaking, a strong support level of Y113.40 can keep prices from further decline. The upper bound of Y114.30 represents the resistance level. The most probable range of the pair's movement for today may be hidden within the range Y113.40-Y114.30.

     

    Resistance levels are: Y114.10, Y114.30, Y114.70-75

    Support levels are: Y113.40, Y113.00, Y112.15


    The main scenario for the pair's promotion — correction, and there may be an increase to 114.30 (October 26 high)

    An alternative scenario — possible decline to Y113.40 (October 22 low)


  • 19:46

    The USD/CHF pair is testing MA (200) H1

    Today, the USD/CHF pair is trading in the range of Chf0.9170-0.9205 and is testing the MA (200) H1 moving average line (Chf0.9205) on the hourly chart. On the four-hour chart, the pair remains below MA (200) H4 (Chf0.9250). Technically speaking, a strong support level of Chf0.9150 can keep prices down further. The session high of Chf0.9205 represents the resistance level. The most probable range of the pair's movement for today may be hidden within the range of Chf0.9150-0.9205


    Resistance levels are: Chf0.9205, Chf0.9225, Chf0.9250

    Support levels are: Chf0.9170, Chf0.9150,  Chf0.9100


    The main scenario for the pair's promotion — breakout of the session minimum of Chf0.9170 and there may be a decrease to Chf0.9150 (September 10 and October 22-25 low)

    An alternative scenario — breakout of the session maximum and MA (200) H1 (Chf0.9205) and there may be an increase to Chf0.9225 (October 26 high)

  • 19:30

    GBP/USD dropped to more than a week low

    Today, the GBP/USD pair has sharply declined from $1.3780 to a low on October 18 ($1.3710). On the hourly chart, the pair fell below the moving average line MA (200) H1 ($1.3770), but on the four-hour chart it remains above MA (200) H4 ($1.3690). Technically speaking, a strong support level of $1.3710 may keep prices from falling further. The upper bound of $1.3780 represents resistance levels. The most likely range of price movements for today may be hidden within the existing range of $1.3710-80.



    Resistance levels are: $1.3770-80, $1.3835-50, $1.3915

    Support levels are: $1.3710, $1.3670, $1.3570


    The main scenario for the pair's promotion — correction and there may be an increase of $1.3770-80 (session maximum, MA (200) H1)

    An alternative scenario — if the support of $1.3710 (October 18 low, session minimum) is broken, the pair may fall to $1.3670 (October 15 low)


  • 19:19

    EUR/USD is trading near a weekly low

    Today, the EUR/US pair is trading in the range of $1.1585-$1.1615 0 near a weekly low. On the four-hour chart, the pair fell below the moving average line MA (200) H1 ($1.1620) and on the four-hour chart it is trading below MA (200) H4 ($1.1660). Technically speaking, strong support levels of $1.1570-85 can keep prices from further decline. The upper limit of $1.1620-25 represents resistance levels. The most likely range of price movement for today may be hidden within the range of $1.1570-1.1625.


    Resistance levels are:  $1.1620-25, $1.1670, $1.1705

    Support levels are: $1.1570-85, $1.1525, $1.1425

     

    The main scenario for promoting the pair  — if the area of $1.1570-85 (October 18 and 26 low, the session minimum) is broken, then the pair may fall to $1.1525 (October 12 low)

    An alternative scenario — the pair may grow to $1.1620-25 (October 26 high, MA (200) H1)

  • 14:20

    The USD/CAD is testing the MA 200 H1 resistance

    Yesterday the USD/CAD traded in different directions in the range of С$1.2350-С$1.2395 and closed the day without significant changes. Today it also traded in a narrow range of C$1.2385-95, staying close to yesterday's closing price. On the hourly chart, USD/CAD is testing resistance - the MA (200) H1 (C$1.2360) moving average line. On the four-hour chart, it remains below the MA 200 H4 line for now. Based on the above, 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 a sell entry point at the end of the correction.

    • Resistances levels are at: С$1.2410, С$1.2470, С$1.2520

    • Support levels are at: С$1.2340, С$1.2315-20, С$1.2290

    Probably, the main scenario is the continuation of the decline to C$1.2340 (Oct 25 low). An alternative scenario is consolidation above MA (200) H1, followed by growth to C$1.2645 (Oct 6 high).

  • 14:10

    AUD/USD continues to rise yesterday

    Yesterday the AUD/USD was trading higher and closed the day in positive territory around the $0.7505. Today it rallied slightly, rising to the level of $0.7535. On the hourly chart, AUD/USD is still trading above the MA line (200) H1 ($0.7470). 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 for the formation of a correction.

    • Resistances levels are at: $0.7545, $0.7595-15, $0.7645

    • Support levels are at: $0.7475, $0.7455, $0.7410

    Probably, the main scenario is an upward movement to $0.7545 (Oct 21 high). Alternative scenario is consolidation below MA 200 H1, followed by a decline to $0.7225 (Oct 6 low).

  • 13:51

    Gold is testing support for MA 200 H1

    The XAU/USD was trading lower yesterday and closed the day in the red around $1793. Today gold was trading in a narrow range of $1786-94, staying close to yesterday's closing price. On the hourly chart, XAU/USD is testing the strength of the support - the moving average MA (200) H1 ($1785). On the four-hour chart, gold remains above the MA 200 H4 line for now. Based on the above, 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 at the end of the correction.

    • Resistances levels are at: $1810-13, $1827, $1833

    • Support levels are at: $1783, $1775-77, $1767

    Probably, the main scenario is an upward movement to $1810 (Oct 25 high). An alternative scenario is a final consolidation below the MA 200 H1, followed by a decline to $1722 (Sep 30 low).

  • 13:24

    Oil trades around October 2018 highs

    Yesterday, Brent crude was traded in different directions in the range of $85.35-$86.65 and closed the day without significant changes. Crude oil also traded in a narrow range of $85.70-$86.45 today, staying close to the October 2018 highs. On the hourly chart, Brent is still trading above the moving average MA (200) H1 ($85.25). The situation is similar on the four-hour chart. Based on the above, 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: $86.70, $88.00, $89.00

    • Support levels are at: $84.75, $83.50, $82.45-60

    Probably, the main scenario is a further rise to $86.70 (Oct 25 high). An alternative scenario is consolidation below MA 200 H1, followed by a decline to $79.60 (Oct 7 low).

  • 13:10

    USD/JPY is testing MA 200 H1 support

    Yesterday the USD/JPY was trading higher and closed the day in positive territory around the price of Y114.15. Today it dropped slightly and dropped to Y113.95. On the hourly chart, USD/JPY is testing its support - the MA (200) H1 (Y114.05) moving average line. On the four-hour chart, it remains above the MA 200 H4 line for now. Based on the above, it is probably worth sticking to the northern direction in trading, and while the USD/JPY remains above MA 200 H1, it may be necessary to look for buy entry points at the end of the correction.

    • Resistances levels are at: Y114.30, Y114.70, Y115.00

    • Support levels are at: Y113.30-40, Y113.00, Y112.20

    Probably, the main scenario is the continuation of the upward movement to Y114.30 (Oct 26 high). An alternative scenario is consolidation below MA 200 H1, followed by a decline to Y113.00 (Oct 12 low).

  • 12:46

    The USD/CHF is testing the MA 200 H1 resistance

    Yesterday the USD/CHF traded in different directions in the range Chf0.9185-Chf0.9225 and closed the day without significant changes. Today it also traded in a narrow range of Chf0.9190-00, staying close to yesterday's closing price. On the hourly chart, USD/CHF is testing resistance - the MA (200) H1 (Chf0.9205) moving average line. On the four-hour chart, it remains below the MA 200 H4 line for now. Based on the above, 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 a sell entry point at the end of the correction.

    • Resistances levels are at: Chf0.9225, Chf0.9250, Chf0.9270

    • Support levels are at: Chf0.9175, Chf0.9150, Chf0.9135

    Probably, the main scenario is a subsequent decline to Chf0.9175 (low of the American session on October 25). Alternative scenario is consolidation above MA 200 H1, with further advance towards Chf0.9335 (Oct 1 high).

  • 12:33

    GBP/USD is testing MA 200 H1 support

    Yesterday the GBP/USD traded in different directions in the range of $1.3755-$1.3830 and closed the day without significant changes. It was also trading in a narrow range of $1.3760-75 today, staying close to yesterday's closing price. On the hourly chart, GBP/USD is testing its support - the MA line (200) H1 ($1.3770). On the four-hour chart, it remains above the MA 200 H4 line for now. Based on the above, 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 at the end of the correction.

    • Resistances levels are at: $1.3830-35, $​1.3910-25, $1.3945-55

    • Support levels are at: $1.3735-40, $1.3710, $1.3670

    Probably, the main scenario is the continuation of the rise to $1.3830 (Oct 26 high). An alternative scenario is consolidation below the MA 200 H1 level with a subsequent decline to $1.3590 (Oct 13 low).

  • 12:03

    The EUR/USD continues to test the MA 200 H1 support

    The EUR/USD was trading lower yesterday and closed the day in the red around $1.1595. Today it rallied slightly, rising to the level of $1.1605. On the hourly chart, EUR/USD continues to test the strength of the support - the moving average MA (200) H1 ($1.1620). On the four-hour chart, it remains below the MA 200 H4 line for now. Based on the above, it is probably worth adhering to the northern direction in trading, and until the EUR/USD 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: $1.1625, $1.1665-70, $1.1700

    • Support levels are at: $1.1585, $1.1570, $1.1540

    Probably, the main scenario is continued growth to $1.1625 (Oct 26 high). An alternative scenario is a final consolidation below MA 200 H1, followed by a decline to $1.1540 (Oct 13 low).

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