Technical analysis

Technical analysis

04 September 2020
  • 20:48

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

    Today, the NZD / USD pair is trading in the range of $0.6690-0.6730-remains near the highs of the end of July 2019. The pair is trading above the moving average line MA (200) H1 ($0.6690), and on the four - hour chart-above MA (200) H4 ($0.6630). A strong resistance level of $0.6790 (high on July 18-22, 2019 and September 2 high) can keep the kiwi from further growth. If it breaks through, the pair may soar to $0.6840 (high on April 1, 2019). The lower limit of MA (200) H1 ($0.6690) represents the support level. If this level is passed, NZD / USD may follow a correction to $0.6600. The most likely range of the pair's movement to date may be hidden within the range of $0.6690-0.6790.


    Resistance levels are at: $0.6790, $0.6840, $0.6925

    Support levels are at: $0.6690, $0.6600, $0.6540


    The main scenario for the pair's promotion - if a strong resistance of $0.6790 breaks through (high of July 18-22, 2019 and September 2 high), the pair is likely to rise to $0.6840 (high of April 1, 2019)

    An alternative scenario - breakout of the session low and MA (200) H1 ($0.6690) and likely decline to $0.6600 (August 27 low)

    NZD / USD is trading near the highs of the end of July 2019 04.09.2020


  • 20:18

    USD/JPY remains slightly above MA (200)

    Today, the USD/JPY pair is trading with a slight increase in the range of Y106.05-20 and remains slightly above the moving average line of MA (200) H1 (Y106.10) and MA (200) H4 (Y105.95). A strong resistance level of Y106.55-60 may keep the pair from further growth. If it breaks through, prices may soar Y106.95-107.05. The lower bound of Y106. 00 represents the support level. If this level is passed, USD/JPY may follow a correction to Y105. 60. The most likely range of movement of the pair to date may be hidden within the range of Y106. 00-60.

    Resistance levels are at: Y106.55-60, Y106.95-107.05, Y107.50

    Support levels are at: Y106.00, Y105.60, Y105.20


    The main scenario for the pair's promotion - if the level of MA (200) H1 (Y106.10) and yesterday's low of Y106.00 are broken, then the pair is likely to decline to Y105.60 (September 1 low).

    An alternative scenario - in the event of a breakout of strong resistance Y106. 55-60 (August 25 and September 3 highs), it is likely to rise to the area Y106.95-107.05 (August 12-14 and 28 highs)

    USD/JPY remains slightly above MA (200) 04.09.2020


  • 20:02

    USD / CHF is trading above MA (200) H1, but it has not yet managed to break through MA (200) H4

    Today, the USD/CHF pair is trading with growth, regaining most of the positions lost during yesterday's US trading: the pair rose to Chf0.9115, after falling yesterday from Chf0.9140 to Chf0.9080. A strong resistance level of Chf0. 9140-60 (August 20-21 and September 3 highs) keeps USD / CHF from further growth. If it breaks through, the pair may soar to Chf0. 9200 (August 12 high). The lower bound of Chf0. 9080 (September 3 low, MA (200) H1) represents the support level. If this level is passed, USD/JPY may follow a correction to Chf0.9060. The most likely range of movement of the pair to date may be hidden within the range of Chf0. 9080-0.9140.



    Resistance levels are at: Chf0.9140-60, Chf0.9200, Chf0.9240

    Support levels are at: Chf0.9060-80, Chf0.9025, Chf0.9000


    The main scenario for the pair's promotion - in the event of a breakout of Chf0. 9080 (September 3 low, MA (200) H1), the pair is likely to decline to Chf0.9060 (August 21 low).

    An alternative scenario - in the event of a breakout of Chf0. 9140-60 (August 20-21 and September 3 highs), the pair is likely to rise to Chf0.9200 (August 12 high).

    USD / CHF is trading above MA (200) H1, but it has not yet managed to break through MA (200) H4 04.09.2020

  • 19:37

    GBP / USD continues testing MA (200) H1

    Today, the GBP / USD pair is trading in the range of $1.3255-$1.3320 and continues to test the MA (200) H1 moving average line ($1.3280). However, on the four-hour chart, the pair is trading well above MA (200) H4 ($1.3090). In this situation, it is probably worth continuing to stick to the North direction in trading, and may consider buying during the correction


    Resistance levels are at:  $1.3320, $1.3400, $1.3480

    Support levels are at: $1.3240, $1.3165, $1.3115


    The main scenario for the pair's promotion - if the session high of $1.3240 breaks, it is likely to rise to $1.3400 (September 2 high).

    An alternative scenario - if yesterday's low of $1.3240 breaks, the pair is likely to fall to $1.3165 (August 27 low)

    GBP / USD continues testing MA (200) H1 04.09.2020


  • 19:19

    EUR / USD tests resistance MA (200) H1

    Today, the EUR / USD pair is trading in a narrow range of $1.1830-65-near the closing level of yesterday's session. On the hourly chart, the pair is testing the strength of the moving average line MA (200) H1 ($1.1865), but on the four-hour chart, it is trading above MA (200) H4 ($1.1800). In this situation, it is probably worth continuing to stick to the North direction in trading, and may consider buying during the correction

    Resistance levels are at:  $1.1865-80, $1.1930, $1.1965

    Support levels are at: $1.1790, $1.1755, $1.1710


    The main scenario for promoting the pair  - in the event of a breakout of the session high and MA (200) H1 ($1.1865), the likely growth to $1.1930 (September 2 high)

    An alternative scenario - if yesterday's low of $1.1790 breaks, the pair will probably fall to $1.1755 (August 21 low)

    EUR / USD tests resistance MA (200) H1  04.09.2020


  • 14:17

    USD/CAD is testing the MA 200 H1 resistance

    Yesterday the USD/CAD was trading higher and closed the day in positive territory around the C$1.3120. Today it was trading in a narrow range of $1.3110-40, staying close to yesterday's closing price. On the hourly chart, USD/CAD is testing resistance - the moving average MA (200) H1 (C$1.3105). 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 until the USD/CAD finally consolidates above MA 200 H1, it is necessary to look for a sell entry point at the end of the correction.

    • Resistances levels are at: С$1.3160, С$1.3205, С$1.3235

    • Support levels are at: С$1.3075, С$1.3040, С$1.2980-95

    USD/CAD is testing the MA 200 H1 resistance 04.09.2020

    The main scenario - is the continuation of the decline to C$1.3075 (low of the European session on Sep 3). An alternative scenario - consolidation above MA (200) H1 with a subsequent rise to C$1.3200 (Aug 26 high).

  • 14:07

    AUD/USD is testing support for MA 200 H1

    Yesterday the AUD/USD was trading lower and closed the day in the red around the $0.7265. Today it was trading in a narrow range of $0.7250-75, staying close to yesterday's closing price. On the hourly chart, AUD/USD is testing the strength of the support - the moving average line MA (200) H1 ($0.7290). On the four-hour chart, it remains above the MA 200 H4 line. Based on the foregoing, it is probably worth sticking to the northern direction in trading, and until the AUD/USD finally consolidates below MA 200 H1, it is necessary to look for buy entry points to form a correction.

    • Resistances levels are at: $0.7310, $0.7365, $0.7410

    • Support levels are at: $0.7215, $0.7190, $0.7150

    AUD/USD is testing support for MA 200 H1 04.09.2020

    The main scenario - is the continuation of the upward movement to $0.7310 (high of the American session on Sep 3). An alternative scenario - final consolidation below MA 200 H1, followed by a decline to $0.7185 (Aug 26 low).

  • 13:40

    Gold is testing support for MA 200 H1

    Yesterday, the XAU/USD was trading lower and closed the day in the red around the $1929. Today gold was trading in a narrow range of $1925-40, 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 ($1947). 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 until the XAU/USD finally consolidates below MA 200 H1, it is necessary to look for buy entry points to form a correction.

    • Resistances levels are at: $1950, $1971, $1992

    • Support levels are at: $1922, $1910, $1903

    Gold is testing support for MA 200 H1 04.09.2020

    The main scenario - is continued growth towards $1950 (Sep 3 high). An alternative scenario - final consolidation below MA 200 H1, followed by a decline to $1910 (Aug 27 low).


  • 13:20

    Oil is trading near a monthly low

    Brent crude traded lower yesterday and closed the day in the red around $43.50. Today oil was trading in a narrow range of $43.15-50, staying close to a monthly low. On the hourly chart, Brent is still trading below the moving average MA (200) H1 ($45.00). The situation is similar on the four-hour chart. Based on the foregoing, it is probably worth sticking to the southern direction in trading and while Brent remains below MA 200 H1, it is necessary to look for entry points to sell on the formation of a correction.

    • Resistances are at: $43.80, $44.55, $45.25

    • Support levels are at: $42.55-75, $42.55, $41.35

    Oil is trading near a monthly low 04.09.2020

    The main scenario - is a subsequent decline to $42.75 (Sep 3 low). An alternative scenario -  consolidation above MA 200 H1 with a subsequent rise to $45.85 (Sep 1 high).

  • 13:00

    USD/JPY continues to test resistance MA 200 H1

    Yesterday the USD/JPY traded in different directions in the Y106.00-55 range and closed the day without significant changes. Today it was trading in a narrow range Y106.05-20, staying close to yesterday's closing price. On the hourly chart, USD/JPY continues to test resistance - the moving average MA (200) H1 (Y106.05). The situation is similar on the four-hour chart. Based on the foregoing, it is probably worth adhering to the south direction in trading and until the USD/JPY finally consolidates above MA 200 H1, might consider the possibility of sales during the correction

    • Resistances levels are at: Y106.50, Y106.90-00, Y107.35

    • Support levels are at: Y105.85, Y105.60, Y105.20-30

    USD/JPY continues to test resistance MA 200 H1 04.09.2020

    The main scenario - is the continuation of the downward movement to Y105.85 (Sep 2 low). An alternative scenario - final consolidation above MA 200 H1, followed by a rise to Y106.90 (Aug 28 high).

  • 12:53

    USD/CHF remains above MA 200 H1

    Yesterday the USD/CHF was trading lower and closed the day in the red around the Chf0.9085. Today it was trading in a narrow range of Chf0.9085-00, staying close to yesterday's closing price. On the hourly chart, USD/CHF is still trading above the moving average MA line (200) H1 (Chf0.9080). On the four-hour chart, it remains below the MA 200 H4 line. Based on the above, it is probably worth sticking to the northern direction in trading and while the USD/CHF remains above MA 200 H1, it is necessary to look for buy entry points at the end of the correction.

    • Resistances levels are at: Chf0.9140, Chf0.9160, Chf0.9195

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

    USD/CHF remains above MA 200 H1 04.09.2020

    The main scenario -  is a further advance towards Chf0.9140 (Sep 3 high). Alternative scenario - consolidation below MA 200 H1 level, followed by a decline to Chf0.9000 (Sep 1 low).

  • 12:26

    GBP/USD is testing MA 200 H1 support

    Yesterday the GBP/USD was trading lower and closed the day in the red around $1.3275. Today it was trading in a narrow range of $1.3265-90, staying close to yesterday's closing price. On the hourly chart, GBP/USD is testing its support - the MA (200) H1 ($1.3260) moving average line. On the four-hour chart, it remains above the MA 200 H4 line. 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: $1.3355, $1.3400, $1.3480

    • Support levels are at: $1.3245, $1.3165-85, $1.3120

    GBP/USD is testing MA 200 H1 support 04.09.2020

    The main scenario - is continued growth to $1.3355 (Sep 3 high). An alternative scenario - consolidation below the MA 200 H1 level with a subsequent decline to $1.3120 (Aug 26 low).

  • 11:57

    EUR/USD continues to test MA 200 H1

    Yesterday the EUR/USD traded in different directions in the range of $1.1790-60 and closed the day without significant changes. Today it was trading in a narrow range of $1.1840-55, staying close to yesterday's closing price. On the hourly chart, EUR/USD continues to test the strength of the support - the moving average MA (200) H1 ($1.1860). On the four-hour chart, it remains above the MA 200 H4 line. Based on the above, it is probably worth sticking to the northern direction in trading and until the EUR/USD finally consolidates below MA 200 H1, it is necessary to look for buy entry points at the end of the correction.

    • Resistances are at: $1.1875, $1.1925, $1.1965

    • Support levels are at: $1.1790, $1.1755-65, $1.1710

    EUR/USD continues to test MA 200 H1 04.09.2020

    The main scenario - is continued growth to $1.1875 (high of the American session on Sep 2). Alternative scenario - final consolidation below MA 200 H1, followed by a decline to $1.1765 (Aug 27 low).

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