Technical analysis

Technical analysis

05 April 2021
  • 20:05

    The NZD/USD pair retreated from a four-month low

    Today, the NZD/USD pair is trading in the range of $0.7010-45 slightly above the four-month low ($0.6940) reached last week. The pair rose above the moving average line MA (200) H1 ($0.6990), but remains below MA (200) H4 ($1.7160) on the four-hour chart. In this situation, it is probably necessary to stick to the southern direction in trading and at the end of the correction, it may be worth looking for exit points to sell.


    Resistance levels are: $0.7100, $0.7185, $0.7270

    Support levels are: $0.6990-0.7010, $0.6940, $0.6895


    The main scenario for the pair's promotion - breakout of the support of $0.6990-0.7010 (April 2 low, MA (200) H1) and may be a decline to $0.6940 (March 25 and April 1 low)

    An alternative scenario - growth to $0.7100 (March 5-9 low) and then, maybe, to $0.7185 (March 19 high)

  • 19:48

    USD/JPY is trading near a one-year high

    Today, the USD/JPY pair is trading in the range of Y110. 50-75-near the annual maximum. On the hourly chart, the pair rose above the moving average line MA (200) H1 (Y109. 95) and on the four-hour chart, it is trading well above MA (200) H4 (Y108.20). In this situation, it is probably worth sticking to the north direction in trading and should look for an exit point to buy. It is worth noting that the 14-day relative strength index (RSI (14) on D1) is above the level of 70, which signals a possible change in the direction of price movement.

    Resistance levels are: Y110.95, Y111.70, Y112.25

    Support levels are: Y110.25, Y109.95, Y109.35


    The main scenario for the pair's promotion -  the resistance breakout is Y110. 95 (March 31 high) and may be an increase to Y111. 70 (March 24-25’ 2020 high)

    An alternative scenario - if the support of Y110. 25 (March 31 low) is broken, the pair may fall to MA (200) H1 (Y109. 95)


  • 19:36

    USD / CHF remains above MA (200) H1

    Today, the USD/CHF pair is trading in the range of Chf0. 9415-40-slightly below the high of early July (Chf0.9470) reached last week. On the hourly chart, the pair is trading above the moving average line MA (200) H1 (Chf0. 9400) and on the four-hour chart it remains well above MA (200) H4 (Chf0.9235). In this situation, it is probably worth sticking to the north direction in trading and should look for an exit point to buy.


    Resistance levels are: Chf0.9440, Chf0.9470, Chf0.9495

    Support levels are: Chf0.9400, Chf0.9370, Chf0.9335


    The main scenario for the pair's promotion - breakout of the session high of Chf0. 9440 and may be an increase to Chf0. 9470 (April 1 high)

    An alternative scenario - correction, breakout of support for Chf0. 9400 (March 31, April 1-2 low, MA (200) H1) and may be a decline to Chf0.9370 (March 29 low)

  • 19:15

    The GBP / USD pair consolidated above the MA (200) H1

    Today, the GBP/USD pair is trading with an increase from $1.3810 to a ten-day high of $1.3865. On the hourly chart, the pair rose above the moving average line MA (200) H1 ($1.3770), but on the four-hour chart it remains below MA (200) H4 ($1.3900). Technically speaking, a strong resistance level of $1.3875 may keep the pair from rising further. If it breaks through, prices can soar to $1.3960. The lower bound of $1.3805 represents the support level. If this level is passed, prices may follow a correction to $1.3745-70. The most likely range of price movement for today may be hidden within the range of $1.3805-75


    Resistance levels are: $1.3875,  $1.3960, $1.4000

    Support levels are: $1.3805, $1.3745-70, $1.3705


    The main scenario for the pair's promotion - break of the resistance of $1.3875 (March 22 high) and may be an increase to $1.3960 (March 19 high)

    An alternative scenario - correction, a break of the support of $1.3805 (April 2 low) and then, perhaps, a decline to $1.3745-70 (April 1 low, MA (200) H1)


  • 19:02

    EUR / USD remains below MA (200) H1

    Today, the EUR / USD pair is trading mainly with a decline in the range of $1.1740-70-slightly above the low of early November of $1.1700 reached last week. On the hourly chart, the pair remains below the moving average line MA (200) H1 ($1.1770) and on the four - hour chart-well below MA (200) H4 ($1.1945). In this situation, you should probably stick to the southern direction in trading and look for exit points for selling.

    Resistance levels are: $1.1770-85, $1.1830, $1.1875

    Support levels are:  $1.1740, $1.1700, $1.1650

    The main scenario for promoting the pair  - the breakout of the session low of $1.1740 may be a decline to $1.1700 (March 31 minimum)

    An alternative scenario - correction, breakout of the resistance $1.1770-85 (April 2 high, session high, MA (200) H1) and may be an increase to $1.1830 (March 25 high)


  • 14:12

    USD/CAD is trading below MA 200 H1

    On Friday, the USD/CAD was trading higher and closed the day in positive territory around the C$1.2565. Today it was trading in a narrow range of C$1.2560-85, staying close to Friday's closing price. On the hourly chart, USD/CAD is still trading below the moving average MA line (200) H1 (C$1.2580). 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 may be necessary to look for entry points to sell on the formation of a correction.

    • Resistances levels are at: С$1.2600, С$1.2625, С$1.2645

    • Support levels are at: C$1.2520-30, C$1.2465-75, C$1.2420

    Probably, the main scenario - is a continuation of the decline to C$1.2530 (Apr 2 low). An alternative scenario - may be consolidation above MA (200) H1 with a subsequent rise to C$1.2645 (Mar 30 high).

  • 14:05

    The AUD/USD is testing the MA 200 H1 resistance

    AUD/USD traded lower on Friday and closed the day in the red around $0.7595. Today it, on the contrary, increased slightly, rising to the level of $0.7625. On the hourly chart, AUD/USD is testing resistance - the MA (200) H1 ($0.7610) 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 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: $0.7635, $0.7660, $0.7700

    • Support levels are at: $0.7560, $0.7530, $0.7460

    Probably, the main scenario - is the continuation of the downward movement to $0.7560 (low of the American session on Apr 1). Alternative scenario - may be consolidation above MA 200 H1 with subsequent growth to $0.7755 (Mar 22 high).

  • 13:36

    Gold tests the MA 200 H1 resistance

    The XAU/USD was trading higher on Friday and closed the day in positive territory around $1728. Today gold was trading in a narrow range of $1723-30, staying close to Friday's close. On the hourly chart, XAU/USD is testing resistance - the MA (200) H1 moving average line ($1720). 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: $1736, $1745, $1755

    • Support levels are at: $1705-10, $1678-82, $1658

    Probably, the main scenario - is the continuation of the downward movement to $1710 (low of the American session on Apr 1). An alternative scenario - may be consolidation above the MA 200 H1 with a subsequent rise to $1755 (Mar 18 high).

  • 13:20

    Oil tests resistance MA 200 H1

    Brent crude traded higher on Friday and closed the day in positive territory around $64.65. Oil was trading in a narrow range of $64.15-70 today, staying close to Friday's close. On the hourly chart, Brent is testing resistance - the moving average MA (200) H1 ($63.55). On the four-hour chart, oil 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 Brent 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: $65.75, $68.20, $70.10

    • Support levels are at: $62.35, $60.20-85, $59.10

    Probably, the main scenario - is a subsequent decline to $62.35 (Apr 1 low). An alternative scenario - may be consolidation above the MA 200 H1 with a subsequent rise to $68.20 (Mar 18 high).

  • 13:02

    USD/JPY is trading near March 2020 highs

    On Friday, the USD/JPY traded in different directions in the Y110.35-75 range and closed the day without significant changes. Today it also traded in a narrow range of Y110.50-75, staying near the highs of March 2020. On the hourly chart, USD/JPY is still trading above the moving average MA (200) H1 (Y109.85). 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 for the formation of a correction.

    • Resistances levels are at: Y110.95, Y111.65, Y112.20

    • Support levels are at: Y110.20, Y109.95, Y109.40

    Probably, the main scenario - is the continuation of the upward movement to Y110.95 (Mar 31 high). An alternative scenario - may be consolidation below MA 200 H1, followed by a decline to Y108.45 (Mar 24 low).

  • 12:41

    USD/CHF remains above MA 200 H1

    On Friday, the USD/CHF traded in different directions in the range of Chf0.9405-35 and closed the day without significant changes. Today it also traded in a narrow range of Chf0.9415-30, staying close to yesterday's closing price. On the hourly chart, USD/CHF is still trading above the MA line (200) H1 (Chf0.9395). 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 for the formation of a correction.

    • Resistances levels are at: Chf0.9470, Chf0.9495, Chf0.9530

    • Support levels are at: Chf0.9405, Chf0.9370-80, Chf0.9350

    Probably, the main scenario - is a further rise to Chf0.9470 (Apr 1 high). Alternative scenario - may be final consolidation below the MA 200 H1 level, followed by a decline to Chf0.9285 (low of the American session on Mar 23).

  • 12:23

    The GBP/USD continues to test the MA 200 H1 resistance

    The GBP/USD traded lower on Friday and closed the day in the red around $1.3825. Today it was trading in a narrow range of $1.3815-40, staying close to Friday's close. On the hourly chart, GBP/USD is testing resistance - the MA (200) H1 ($1.3765) moving average line. On the four-hour chart, it remains below the MA 200 H4 line for now. Based on the foregoing, it is probably worth adhering to the south direction in trading and until the GBP/USD finally consolidates above MA 200 H1, it may be necessary to look for a sell entry point at the end of the correction.

    • Resistances levels are at: $1.3875, $1.3955, $1.4000-15

    • Support levels are at: $1.3805, $1.3745-60, $1.3705-15

    Probably, the main scenario - is the continuation of the fall to $1.3805 (Apr 2 low). An alternative scenario - may be final consolidation above the MA 200 H1 level with a subsequent rise to $1.3955 (Mar 19 high).

  • 12:00

    EUR/USD remains below MA 200 H1

    The EUR/USD traded lower on Friday and closed the day in the red around the $1.1760. Today it was trading in a narrow range of $1.1755-70, staying close to Friday's close. On the hourly chart, EUR/USD is still trading below the MA line (200) H1 ($1.1775). 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: $1.1790-00, $1.1825, $1.1850

    • Support levels are at: $1.1705-15, $1.1600, $1.1500

    Probably, the main scenario - is the continuation of the decline to $1.1715 (Apr 1 low). An alternative scenario - may be consolidation above the MA 200 H1, with a subsequent rise to $1.1945 (Mar 22 high).

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