Technical analysis

Technical analysis

04 October 2021
  • 20:30

    NZD/USD tests the resistance of MA (200) H1 for strength

    Today, the NZD/USD pair is trading mainly with an increase in the range of $0.6925-70, further retreating from the five-week low ($0.6855) reached last week. On the hourly chart, the pair is testing the strength of the MA (200) H1 moving average line ($0.6970). On the four-hour chart, the pair remains below MA (200) H4 ($0.7015). Technically speaking, a strong resistance level of $0.7030 may keep prices from rising further. If it breaks through, prices may rise to $0.7090. The lower bound of $0.6925 represents the support level. The most likely range of the pair's movement for today may be hidden within the range of $0.6925-$0.7030.


    Resistance levels are: $0.7030, $0.7090, $0.7135

    Support levels are: $0.6925, $0.6860, $0.6805


    The main scenario for the pair's promotion — correction, and there may be a decrease to the session minimum of $0.6925.

    An alternative scenario — breakout of the level MA (200) H1($0.6970) and there may be an increase to $0.7030 (September 27 high)

  • 20:12

    USD/JPY remains above MA (200) H1

    Today, the USD/JPY pair is trading in the range Y110.90-111.30, retreating from the February 2020 high (Y112.10) reached last week. On the hourly chart, the pair is trading above the moving average line MA (200) H1 (Y110.90). The situation is similar on the four-hour chart. Technically speaking, a strong support level of Y110.90 can keep prices from falling. If it breaks through, prices may drop to Y110.50. The upper bound of Y111.50 represents the resistance level. The most probable range of the pair's movement for today may be hidden within the range Y110.90-Y111.50.

     

    Resistance levels are: Y111.50, Y112.10, Y112.40

    Support levels are: Y110.90, Y110.50, Y109.75


    The main scenario for the pair's promotion — The resistance breakthrough is Y111.50 (October 1 high) and there may be an increase to Y112.10 (September 29-30 high)

    An alternative scenario — if the support of Y110.90 (October 1 low, session minimum, MA (200) H1) is broken, then the pair may fall to Y110.50 (September 27 low)


  • 20:01

    USD/CHF is declining, but remains above MA (200) H4

    Today, the USD/CHF pair is trading with a decline from Chf0.9310 to Chf0.9265. The pair retreated from the highs of the beginning of April, Chf0.9370, reached last week. On the hourly chart, the pair dropped below the moving average line MA (200) H1 (CHF0.9280), but on the four-hour chart it remains above MA (200) H4 (CHF0.9210). Technically speaking, a strong support level of Chf0.9240 may keep prices from further decline. If it breaks through, prices may drop to Chf0.9215. The session high of Chf0.9310 represents the resistance level. The most probable range of the pair's movement for today may be hidden within the range of Chf0.9240-CHF0.9310.


    Resistance levels are: Chf0.9310, Chf0.9340, Chf0.9370

    Support levels are: Chf0.9240, Chf0.9215,  Chf0.9165


    The main scenario for the pair's promotion — correction and there may be an increase to the session maximum of Chf0.9310


    An alternative scenario — there may be a decrease in the pair to Chf0.9240 (September 27 low)

  • 19:32

    GBP/USD tests the resistance of MA (200) H1 for strength

    Today, the GBP/USD pair is trading mainly with an increase in the range from $1.3535-90 and is testing the strength of the MA (200) H1 moving average line ($1.3590). If the pair breaks through this level, it can rise to $1.3715. On the four-hour chart, the pair remains below MA (200) H4 ($1.3720). The lower bound of $1.3520 represents the support level. The most likely range of oil price movements for today may be hidden within the range of $1.3520-90.


    Resistance levels are: $1.3590, $1.3715, $1.3750

    Support levels are: $1.3520, $1.3410, $1.3305


    The main scenario for the pair's promotion — correction, support breakout of $1.3520 (September 28 low) and there may be a decline to $1.3410 (September 29-30 low)

    An alternative scenario — if the level of MA (200) H1 ($1.3590) is broken, the pair may rise to $1.3715 (September 28 high)


  • 18:59

    EUR/USD is trading near the lows of early November 2020

    Today, the EUR/USD pair is trading in the range of $1.1590-1.1615 - near the lows of early November 2020 ($1.1560). Earlier last week, the pair fell to the lows of July 2020. On the hourly chart, the pair remains below the moving average line MA (200) H1 ($1.1670) and on the four-hour chart - below MA (200) H4 ($1.1755). 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: $1.1670, $1.1705-25, $1.1755

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

     

    The main scenario for promoting the pair  — correction and there may be a decrease to $1.1560 (September 30 and October 1 low)

    An alternative scenario — the pair may grow towards MA (200) H1 ($1.1670)

  • 14:19

    USD/CAD is still testing MA 200 H1 support

    On Friday, the USD/CAD was trading lower and closed the day in the red around the C$1.2635. Today it was trading in a narrow range of C$1.2615-55, staying close to Friday's closing price. On the hourly chart, USD/CAD continues to test for strength the support - the moving average MA (200) H1 (С$1.2695). 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 USD/CAD 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: С$1.2735, С$1.2775-95, С$1.2845

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

    Probably, the main scenario is continued growth to C$1.2735 (Oct 1 high). An alternative scenario is consolidation below MA (200) H1, followed by a decline to C$1.2520 (Sep 7 low).

  • 14:05

    The AUD/USD is testing the MA 200 H1 resistance

    On Friday, the AUD/USD was trading higher and closed the day in positive territory around the $0.7265. Today it was trading in a narrow range of $0.7250-80, staying close to Friday's close. On the hourly chart, AUD/USD is testing resistance - the moving average MA (200) H1 ($0.7245). On the four-hour chart, it remains below the MA 200 H4 line for now. 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 a sell entry point at the end of the correction.

    • Resistances levels are at: $0.7280, $0.7310-20, $0.7345

    • Support levels are at: $0.7190, $0.7170, $0.7150

    Probably, the main scenario is a downward movement to $0.7190 (Oct 1 low). An alternative scenario is consolidation above the MA 200 H1 with a subsequent rise to $0.7410 (Sep 10 high).


  • 13:41

    Oil stays above MA 200 H1

    On Friday, Brent crude was traded in different directions in the range of $78.25-$80.05 and closed the day without significant changes. Oil was trading in a narrow range of $79.50-05 today, staying close to Friday's close. On the hourly chart, Brent is still trading above the moving average MA line (200) H1 ($77.65). 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).

  • 13:24

    Gold tests MA 200 H1 resistance

    On Friday, the XAU/USD traded in different directions in the range of $1749-$1764 and closed the day without significant changes. Gold also traded in a tight range of $1757-65 today, staying close to Friday's close. On the hourly chart, XAU/USD is testing resistance - the MA (200) H1 moving average line ($1752). On the four-hour chart, gold remains below the MA 200 H4 line for now. Based on the foregoing, 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: $1765, $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).

  • 13:05

    USD/JPY is still trading above MA 200 H1

    Yesterday, the USD/JPY was trading lower and closed the day in the red around the Y111.00. Today it was trading in a narrow range of Y110.90-10, staying close to Friday's close. On the hourly chart, USD/JPY is still trading above the moving average MA (200) H1 (Y110.75). 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 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: Y111.45, Y112.05, Y112.25

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

    Probably, the main scenario is the continuation of the upward movement to Y111.45 (Oct 1 high). An alternative scenario is consolidation below MA 200 H1, followed by a decline to Y109.10 (Sep 22 low).

  • 12:50

    USD/CHF remains above MA 200 H1

    The USD/CHF traded lower on Friday and closed the day in the red around the Chf0.9300. Today it was trading in a narrow range of Chf0.9290-05, staying close to Friday's close. 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 above, 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 at the end of the correction.

    • Resistances levels are at: Chf0.9335, Chf0.9365, Chf0.9395

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

    Probably, the main scenario is a further rise towards Chf0.9335 (Oct 1 high). Alternative scenario is consolidation below MA 200 H1, followed by a decline towards Chf0.9130 (Sep 7 low).

  • 12:24

    GBP/USD remains below MA 200 H1

    The GBP/USD was trading higher on Friday and closed the day in positive territory around $1.3545. Today it was trading in a narrow range of $1.3535-75, staying close to Friday's close. On the hourly chart, GBP/USD is still trading below the MA line (200) H1 ($1.3595). 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 a sell entry point at the end of the correction.

    • Resistances levels are at: $1.3615, $1.3715, $1.3750-65

    • Support levels are at: $1.3415-35, $1.3305, $1.3190

    Probably, the main scenario is the continuation of the decline to $1.3435 (Oct 1 low). An alternative scenario is consolidation above the MA 200 H1 level with a subsequent rise to $1.3910 (Sep 14 high).

  • 11:58

    EUR/USD is trading near July lows

    On Friday, the EUR/USD was trading higher and closed the day in positive territory around the $1.1895. Today it was trading in a narrow range of $1.1590-15, staying close to the July lows. On the hourly chart, EUR/USD is still trading below the moving average MA (200) H1 ($1.1670). 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: $1.1615, $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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