Technical analysis

Technical analysis

01 October 2021
  • 20:16

    NZD/USD retreated from a five-week low

    Today, the NZD/USD pair is trading mainly with an increase in the range of $0.6875-0.6930, retreating from the five-week low ($0.6855) reached this week. On the hourly chart, the pair remains below the moving average line MA (200) H1 ($0.6980) and on the four-hour chart, the pair remains below MA (200) H4 ($0.7010). In this situation, it is probably necessary to stick to the southern direction in trading, and, perhaps, it is worth looking for exit points for sale, at the end of the correction.


    Resistance levels are: $0.6965-80, $0.7030, $0.7090

    Support levels are: $0.6855, $0.6805, $0.6750


    The main scenario for the pair's promotion — correction and there may be a decrease to $0.6855 (September 29-30 low).

    An alternative scenario — growth to $0.6965-80 (September 29 high, MA (200) H1) and then maybe to $0.7030 (September 27 high)


  • 19:57

    USD/JPY retreated from February 2020 highs

    Today, the USD/JPY pair is trading in the range Y111.05-40, retreating from the February 2020 high (Y112.10) reached earlier this week. On the hourly chart, the pair is trading above the moving average line MA (200) H1 (Y110.70). The situation is similar on the four-hour chart. In this situation, it is probably necessary to stick to the northern direction in trading, and maybe it is worth looking for exit points to buy, at the end of the correction.


    Resistance levels are: Y111.70, Y112.10, Y112.40

    Support levels are: Y110.50-70, Y109.75, Y109.10


    The main scenario for the pair's promotion — the resistance breakthrough is Y111.70 (September 28 high) and there may be an increase to Y112.10 (September 29-30 high)

    An alternative scenario — it is possible to reduce the pair to Y110.50-70 (September 27 low, MA (200) H1)


  • 19:35

    USD/CHF is trading near the highs of early April

    Today, the USD/CHF pair has slightly retreated from yesterday's high of Chf0.9370 and is trading in the range of Chf0.9300-40, remaining near the highs of early April. On the hourly chart, the pair rose above the moving average line MA (200) H1 (CHF0.9275) and on the four-hour chart - above MA (200) H4 (CHF0.9200). In this situation, it is probably necessary to stick to the northern direction in trading, and maybe it is worth looking for exit points to buy, at the end of the correction.


    Resistance levels are: Chf0.9340, Chf0.9370, Chf0.9440

    Support levels are: Chf0.9300, Chf0.9275-80,  Chf0.9240


    The main scenario for the pair's promotion — breakout of the session maximum of Chf0.9340 and there may be an increase to Chf0.9370 (September 30 high)

    An alternative scenario — breakout of the session minimum of Chf0.9300, and there may be a decline to Chf0.9275-80 (September 29 low, MA (200) H1)


  • 19:19

    GBP/USD is trading near the lows of this year

    Today, the GBP/USD pair has slightly increased from $1.3435 to $1.3525, but remains near the lows of the beginning of the year. On the hourly chart, the pair fell below the moving average line MA (200) H1 ($1.3605) and on the four-hour chart - below MA (200) H4 ($1.3725). In this situation, it is probably necessary to stick to the southern direction in trading, and, perhaps, it is worth looking for exit points for sale, at the end of the correction.


    Resistance levels are: $1.3555, $1.3605, $1.3720

    Support levels are: $1.3410, $1.3305, $1.3190


    The main scenario for the pair's promotion — correction and may be a decline to $1.3410 (September 29-30 low)

    An alternative scenario — if the resistance of $1.3555 (September 29 high) is broken, the pair may rise to MA (200) H1 ($1.3605)


  • 19:07

    EUR/USD is trading near the lows of July 2020

    Today, the EUR/USD pair is trading in the range of $1.1560-90 - near the lows of the end of July 2020. On the hourly chart, the pair remains below the moving average line MA (200) H1 ($1.1680) and on the four-hour chart - below MA (200) H4 ($1.1760). In this situation, it is probably necessary to stick to the southern direction in trade, and maybe it is worth looking for exit points for sale. It is worth noting that the 14-day relative strength index (RSI (14) on D1) is below the level of 30, which signals a possible change in the direction of price movement.


    Resistance levels are: $1.1610, $1.1680-1.1705, $1.1755

    Support levels are: $1.1560, $1.1540, $1.1505

     

    The main scenario for promoting the pair  — support breakthrough of $1.1560 (September 30 low, session minimum) and there may be a decline to $1.1540 (July 23’ 2020 low)

    An alternative scenario — the breakout of the resistance is $1.1610 (September 30 high) and there may be an increase to $1.1680-1.1705 (September 28-29 highs, MA (200) H1)

  • 14:13

    USD/CAD is testing MA 200 H1 support

    Yesterday, the USD/CAD was trading lower and closed the day in the red around the C$1.2680 price. Today it, on the contrary, increased slightly, rising to the level of С$1.2720. On the hourly chart, USD/CAD is testing its support - the MA (200) H1 (С$1.2710) moving average line. On the four-hour chart, the USD/CAD remains above the MA 200 H4 line for now. Based on the foregoing, it is probably worth sticking to the northern direction in trading, and while the USD/CAD remains above MA 200 H1, it may be necessary to look for buy entry points to form a correction.

    • Resistances levels are at: С$1.2775-95, С$1.2845, С$1.2895

    • Support levels are at: C$1.2580-95, C$1.2520, C$1.2495

    Probably, the main scenario is continued growth to C$1.2775 (Sep 29 high). An alternative scenario is consolidation below MA (200) H1, followed by a decline to C$1.2520 (Sep 7 low).

  • 13:59

    AUD/USD remains below MA 200 H1

    Yesterday the AUD/USD was trading higher and closed the day in positive territory around the $0.7225. Today it was trading in a narrow range of $0.7215-40, staying close to yesterday's closing price. On the hourly chart, AUD/USD is still trading below the moving average MA (200) H1 ($0.7250). 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 AUD/USD 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: $0.7255-65, $0.7310-20, $0.7345

    • Support levels are at: $0.7170, $0.7150, $0.7105

    Probably, the main scenario is a downtrend to $0.7170 (Sep 29 low). An alternative scenario is consolidation above the MA 200 H1 with a subsequent rise to $0.7410 (Sep 10 high).

  • 13:39

    Gold tests MA 200 H1 resistance

    Yesterday, the XAU/USD was trading higher and closed the day in positive territory around $1755. Today gold was trading in a narrow range of $1750-56, staying close to yesterday's closing price. On the hourly chart, XAU/USD is testing resistance - the MA (200) H1 moving average line ($1753). On the four-hour chart, gold 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 XAU/USD 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: $1764, $1776, $1787

    • Support levels are at: $1735, $1722, $1717

    Probably, the main scenario is a downward movement to $1735 (low of the American session on Sep 30). An alternative scenario is a final consolidation above MA 200 H1 with a subsequent rise to $1808 (Sep 14 high).

  • 13:23

    Oil stays above MA 200 H1

    Yesterday Brent crude was traded in different directions in the range of $77.25-$80.00 and closed the day without significant changes. Oil was trading in a narrow range of $78.70-$79.50 today, staying close to yesterday's closing price. On the hourly chart, Brent is still trading above the moving average MA line (200) H1 ($77.00). 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: $80.30-70, $82.00, $83.00

    • Support levels are at: $76.90-25, $75.70, $73.40

    Probably, the main scenario is a subsequent rise to $80.30 (high of the American session on Sep 28). An alternative scenario is consolidation below MA 200 H1, followed by a decline to $71.40 (Sep 9 low).

  • 12:56

    USD/JPY remains above MA 200 H1

    The USD/JPY was trading lower yesterday and closed the day in the red around the Y111.30 price. Today it was trading in a narrow range of Y111.25-45, staying close to yesterday's closing price. On the hourly chart, USD/JPY is still trading above the MA line (200) H1 (Y110.60). 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 USD/JPY remains above MA 200 H1, it may be necessary to look for buy entry points to form a correction.

    • Resistances levels are at: Y112.05, Y112.25, Y112.65

    • Support levels are at: Y110.80-95, Y110.55, Y110.30

    Probably, the main scenario is the continuation of the upward movement to Y112.05 (Sep 30 high). An alternative scenario is  consolidation below MA 200 H1, followed by a decline to Y109.10 (Sep 22 low).

  • 12:32

    USD/CHF remains above MA 200 H1

    Yesterday, the USD/CHF was trading lower and closed the day in the red around the Chf0.9320. Today it was trading in a narrow range of Chf0.9310-30, staying close to yesterday's closing price. On the hourly chart, USD/CHF is still trading above the moving average MA line (200) H1 (Chf0.9275). 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 USD/CHF remains above MA 200 H1, it may be necessary to look for buy entry points to form a correction.

    • Resistances levels are at: Chf0.9365, Chf0.9395, Chf0.9435

    • Support levels are at: Chf0.9280, Chf0.9250, Chf0.9215-25

    Probably, the main scenario is a further advance towards Chf0.9365 (Sep 30 high). Alternative scenario is consolidation below MA 200 H1, followed by a decline towards Chf0.9130 (Sep 7 low).

  • 12:20

    GBP/USD is trading near December 2020 lows

    Yesterday the GBP/USD was trading higher and closed the day in positive territory around $1.3470. Today it was trading in a narrow range of $1.3445-80, staying close to the lows of December 2020. On the hourly chart, GBP/USD is still trading below the moving average MA (200) H1 ($1.3615). 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 GBP/USD 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: $1.3555, $1.3615, $1.3715

    • Support levels are at: $1.3415, $1.3305, $1.3190

    Probably, the main scenario is the continuation of the decline to $1.3415 (Sep 29 low). An alternative scenario is consolidation above the MA 200 H1 level with a subsequent rise to $1.3910 (Sep 14 high).

  • 12:01

    EUR/USD is trading near July lows

    EUR/USD was trading lower yesterday and closed the day in the red around $1.1575. Today it was trading in a narrow range of $1.1565-80, staying close to the July lows. On the hourly chart, EUR/USD is still trading below the moving average MA (200) H1 ($1.1690). 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 EUR/USD 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: $1.1610, $1.1670, $1.1700

    • Support levels are at: $1.1565, $1.1540, $1.1505

    Probably, the main scenario is a continuation of the decline to $1.1565 (Sep 30 low). An alternative scenario is a final consolidation above the MA 200 H1, followed by a rise to $1.1850 (Sep 10 high).


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