Technical analysis

Technical analysis

02 September 2020
  • 20:38

    NZD / USD is trading near the highs of the end of July 2019

    Today, the NZD / USD pair is trading in the range of $0.6745-90-near the highs of the end of July 2019. The pair is trading above the MA (200) H1 moving average line ($0.6635). The situation is similar on the four-hour chart. Based on the above, it is probably worth sticking to the North direction in trading, and looking for entry points to buy. It is worth noting that the hourly chart has formed a bearish divergence on the MACD indicator, which signals a possible change in the direction of price movement.


    Resistance levels are at:  $0.6790, $0.6840, $0.6840

    Support levels are at: $0.6720, $0.6635-50, $0.6590-0.6600


    The main scenario for the pair's promotion - breakout of the session high and strong resistance of $0.6790 (July 18-22, 2019 high) and growth to $0.6840 (April 1, 2019 high)

    An alternative scenario - support breakout of $0.6720 (August 31 low) and decline to $0.6635-50 (August 19 high, MA (200) H1)

    NZD / USD is trading near the highs of the end of July 2019 02.09.2020

  • 20:24

    USD/JPY broke through resistance MA (200)

    Today, the USD/JPY pair continues yesterday's growth and rose from Y105. 85 to Y106.30, breaking through the moving average lines MA (200) H1 (Y106.00) and MA (200) H4 (Y106.00). If the pair gains a foothold above these levels, it is likely to start forming a new uptrend. While this has not happened, it is probably worth continuing to adhere to the southern direction in trading, and, at the end of the correction, look for entry points to sell.

     

    Resistance levels are at:  Y106.60, Y106.95-107.05, Y107.50

    Support levels are at: Y105.85, Y105.60, Y105.10-20


    The main scenario for the pair's promotion - breakout of MA (200) H1 (Y106.00) and session low of Y105.85 and decline to Y105.60 (September 1 low).

    An alternative scenario - consolidation above MA (200) H1 (Y106. 00), a breakout of Y106. 60 (August 25 high) and a likely rise to the area of Y106.95-107.05 (August 12-14 and 28 highs)

    USD/JPY broke through  resistance MA (200) 02.09.2020

  • 20:04

    USD / CHF broke through the resistance of MA (200) H1, but remains below MA (200) H4

    Today, the USD/CHF pair is trading mainly with an increase in the range of Chf0. 9085-0.9135, after a sharp increase in yesterday's us trading from Chf0.9000 to Chf0.9100. On the hourly chart, the pair rose above the moving average line MA (200) H1 (Chf0.9080), but on the four-hour chart it remains below MA (200) H4 (Chf0.9145). Based on the above, it is probably worth continuing to adhere to the southern direction in trading, and, at the end of the correction, look for entry points to sell.


    Resistance levels are at: Chf0.9135, Chf0.9160, Chf0.9200

    Support levels are at: Chf0.9080-85, Chf0.9025, Chf0.9000


    The main scenario for the pair's promotion - correction, breakout of the session minimum Chf0. 9085 (August 28 low) and MA (200) H1 (Chf0.9080) and decline to Chf0.9025 (August 28 low).

    An alternative scenario - fixing above MA (200) H1 (Chf0. 9080), breaking the session high of Chf0.9135 and likely growth to Chf0.9160 (August 20 high).

    USD / CHF broke through the resistance of MA (200) H1, but remains below MA (200) H4 02.09.2020

  • 19:37

    GBP / USD fell slightly, but remains above MA (200)

    Today, the GBP / USD pair is trading mostly lower in the range of $1.3325-1.3400, after falling from $1.3480 to $1.3370 at the end of yesterday's trading. A strong support level of $1.3300 (August 31 low) may keep the pound from falling further. If it breaks through, the pair may fall to MA (200) H1 ($1.3230) and after breaking through this level, it is likely to further decline to $1.3165 (August 27 low). While GBP / USD remains above MA (200) H1 and MA (200) H4 ($1.3040), it is probably worth continuing to stick to the North direction in trading, and, at the end of the correction, look for entry points to buy.


    Resistance levels are at: $1.3400, $1.3480, $1.3515

    Support levels are at: $1.3300, $1.3230, $1.3165


    The main scenario for the pair's promotion - correction, breaking the session high of $1.3400 and rising to $1.3480 (September 1 high).

    An alternative scenario - breakout of strong support of $1.3300 (August 31 low) and decline to MA (200) H1 ($1.3230)

    GBP / USD fell slightly, but remains above MA (200) 02.09.2020

  • 19:18

    EUR / USD is trading lower and testing MA (200) H1

    Today, the EUR / USD pair continues yesterday's decline and tries to break through the MA (200) H1 moving average line ($1.1860). The pair fell from $1.1930 to $1.1850, after a sharp decline at the end of yesterday's US trading from $1.2010 to $1.1900. On the four-hour chart, EUR / USD remains above MA (200) H4 ($1.1775). In this situation, it is probably worth continuing to stick to the North direction in trading, and, at the end of the correction, look for entry points to buy.


    Resistance levels are at:  $1.1930, $1.1965, $1.2010

    Support levels are at: $1.1850, $1.1810, $1.1755-60

    The main scenario for promoting the pair  - reversal, breaking the session high of $1.1930 and rising to $1.1965 (August 31 high)

    An alternative scenario - breakout of the session low of $1.1850, consolidation below MA (200) H1 ($1.1860) and decline to $1.1810 (August 28 low)

    EUR / USD is trading lower and testing MA (200) H1 02.09.2020

  • 14:11

    USD/CAD is trading below MA 200 H1

    Yesterday the USD/CAD was trading slightly higher and closed the day in positive territory around the C$1.3060. Today it was trading in a narrow range of С$1.3050-80, staying close to yesterday's closing price. On the hourly chart, USD/CAD is still trading below the moving average MA line (200) H1 (C$1.3130). 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 is necessary to look for a sell entry point to form a correction.

    • Resistances levels are at: С$1.3095, С$1.3125, С$1.3165

    • Support levels are at: С$1.2980-95, С$1.2900, С$1.2800

    USD/CAD is trading below MA 200 H1 02.09.2020

    The main scenario - is a continuation of the decline to C$1.2995 (Sep 1 low). An alternative scenario - consolidation above MA (200) H1 with a subsequent rise to C$1.3200 (Aug 26 high).

  • 14:01

    AUD/USD remains above MA 200 H1

    Yesterday the AUD/USD traded in different directions in the range of $0.7360-$0.7410 and closed the day without significant changes. On the hourly chart, AUD/USD is still trading above the MA line (200) H1 ($0.7255). 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 the AUD/USD remains above MA 200 H1, it is necessary to look for buy entry points to form a correction.

    • Resistances levels are at: $0.7410, $0.7500, $0.7600

    • Support levels are at: $0.7305, $0.7255, $0.7215

    AUD/USD remains above MA 200 H1 02.09.2020

    The main scenario - is the continuation of the upward movement to $0.7410 (Sep 1 high). Alternative scenario - consolidation below MA 200 H1, followed by a decline to $0.7190 (Aug 26 low).

  • 13:55

    Gold remains above MA 200 H1

    Yesterday the XAU/USD traded in different directions in the range of $1962-92 and closed the day without significant changes. Gold has dropped slightly today, down to $1959. On the hourly chart, XAU/USD is still trading above the MA line (200) H1 ($1643). On the hourly chart, XAU/USD is still trading below the moving average MA (200) H1 ($1947). 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 the XAU/USD remains above MA 200 H1, it is necessary to look for buy entry points to form a correction.

    • Resistances levels are at: $1992, $2015, $2049

    • Support levels are at: $1955, $1940, $1924

    Gold remains above MA 200 H1 02.09.2020

    The main scenario - is continued growth to $1992 (Sep 1 high). An alternative scenario - consolidation below MA 200 H1, followed by a decline to $1924 (Aug 28 low).


  • 13:31

    Oil remains above MA 200 H1

    Yesterday Brent crude was traded in different directions in the range of $45.10-85 and closed the day without significant changes. Oil was trading in a narrow range of $45.45-60 today, staying close to yesterday's closing price. On the hourly chart, Brent is still trading above the moving average MA line (200) H1 ($45.20). 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 is necessary to look for buy entry points to form a correction.

    • Resistances levels are at: $45.85, $46.10, $47.00

    • Support levels are at: $44.85, $44.60, $43.60

    Oil remains above MA 200 H1 02.09.2020

    The main scenario - is a subsequent rise to $45.85 (Sep 1 high). An alternative scenario -  consolidation below MA 200 H1, followed by a decline to $44.60 (Aug 27 low).

  • 13:05

    USD/JPY continues to test resistance MA 200 H1

     Yesterday the USD/JPY traded in different directions in the range Y105.60-Y106.10 and closed the day without significant changes. Today it also traded in a narrow range of Y105.85-10, staying close to yesterday's closing price. On the hourly chart, USD/JPY continues to test the resistance - the moving average MA (200) H1 (Y105.95). 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/JPY remains below MA 200 H1, it is necessary to look for a sell entry point to form a correction.

    • Resistances levels are at: Y106.30, Y106.90-00, Y107.35

    • Support levels are at: Y105.60, Y105.20-30, Y104.55

    USD/JPY continues to test resistance MA 200 H1 02.09.2020

    The main scenario - is the continuation of the downward movement to Y105.60 (Sep 1 low). An alternative scenario - consolidation above MA 200 H1, followed by a rise to Y106.90 (Aug 28 high).

  • 12:43

    USD/CHF is testing the MA 200 H1 resistance

    Yesterday the USD/CHF was trading higher and closed the day in positive territory around the Chf0.9090. Today it also rose slightly, climbing to Chf0.9115. On the hourly chart, USD/CHF is testing resistance - the MA (200) H1 (Chf0.9075) moving average line. On the four-hour chart, it remains below the MA 200 H4 line. 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 is necessary to look for a sell entry point to form a correction.

    • Resistances levels are at: Chf0.9135, Chf0.9160, Chf0.9195

    • Support levels are at: Chf0.9085, Chf0.9055, Chf0.9000

    USD/CHF is testing the MA 200 H1 resistance 02.09.2020

    The main scenario - is a subsequent decline to Chf0.9085 (session low). Alternative scenario - final consolidation above MA 200 H1 level, with further advance towards Chf0.9135 (Aug 21 high).

  • 12:24

    GBP/USD remains above MA 200 H1

    Yesterday the GBP/USD traded in different directions in the range of $1.3355-$1.3480 and closed the day without significant changes. It was also trading in a narrow range of $1.3365-00 today, staying close to yesterday's closing price. On the hourly chart, GBP/USD is still trading above the MA line (200) H1 ($1.3220). 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 is necessary to look for buy entry points to form a correction.

    • Resistances levels are at: $1.3480, $1.3510, $1.3600

    • Support levels are at: $1.3355, $1.3300, $1.3255-65

    GBP/USD remains above MA 200 H1 02.09.2020

    The main scenario - is continued growth to $1.3480 (Sep 1 high). An alternative scenario -  consolidation below the MA 200 H1 level with a subsequent decline to $1.3115 (Aug 26 low).

  • 12:00

    EUR/USD remains above MA 200 H1

    Yesterday the EUR/USD was trading lower and closed the day in the red around the $1.1915. Today it was trading in a narrow range of $1.1890-20, remaining close to yesterday's closing price. On the hourly chart, EUR/USD is still trading above the moving average MA line (200) H1 ($1.1855). 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 is necessary to look for buy entry points to form a correction.

    • Resistances levels are at: $1.1965, $1.2010, $1.2030

    • Support levels are at: $1.1870-85, $1.1810, $1.1755-65

    EUR/USD remains above MA 200 H1 02.09.2020

    The main scenario - is continued growth to $1.1965 (high of the American session on Sep 1). An alternative scenario - consolidation below MA 200 H1, followed by a decline to $1.1765 (Aug 27 low).

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