Technical analysis

Technical analysis

06 April 2021
  • 20:09

    NZD / USD remains above MA (200) H1

    Today, the NZD/USD pair is declining from $0.7070 to $0.7010, having lost all the positions gained yesterday. The pair remains above the moving average line of MA (200) H1 ($0.7000), but on the four-hour chart it is trading well below MA (200) H4 ($1.7160). In this situation, it is probably necessary to stick to the southern direction in trading, and it may be worth looking for exit points for selling.


    Resistance levels are: $0.7070, $0.7100, $0.7185

    Support levels are: $0.7000, $0.6940, $0.6895


    The main scenario for the pair's promotion - breakout of the MA (200) H1 support ($0.7000) and may be a decline to $0.6940 (March 25 and April 1 low)

    An alternative scenario - growth to $0.7170 (April 5 high, session high) and then maybe to $0.7100 (March 5-9 low)


  • 19:59

    USD/JPY is trading near a one-year high

    Today, the USD/JPY pair is trading with an increase in the range of Y110. 10-55, having returned most of the positions lost yesterday. The pair remains near a one-year high. On the hourly chart, the pair is trading above the moving average line MA (200) H1 (Y110. 10) and on the four - hour chart-significantly above MA (200) H4 (Y108.30). In this situation, it is probably worth sticking to the north direction in trading and should look for exit points 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: Y110.75-95, Y111.70, Y112.25

    Support levels are: Y109.95-110.10, Y109.35, Y108.40


    The main scenario for the pair's promotion -  continuation of the upward movement to Y110. 75-95 (March 31 and April 1-5 highs)

    An alternative scenario - if the support of Y109. 95-110. 10 (April 5 low, MA (200) H1, session low) is broken, the pair may fall to Y109. 35 (March 26 low)


  • 19:42

    USD / CHF remains below MA (200) H1 for now

    Today, the USD/CHF pair is trading mainly with an increase in the range of Chf0. 9355-95, after a decline in yesterday's US trading from Chf0.9440 to Chf0.9350. On the hourly chart, the pair remains below the MA (200) H1 (Chf0.9405) moving average line, but on the four-hour chart, it is trading well above MA (200) H4 (Chf0.9250). In this situation, it is probably worth sticking to the north direction in trading and should look for exit points to buy.


    Resistance levels are: Chf0.9405, Chf0.9440, Chf0.9470

    Support levels are:  Chf0.9335-50, Chf0.9300, Chf0.9210-20


    The main scenario for the pair's promotion - breakout of MA (200) H1 (Chf0. 9405) and may be an increase to Chf0. 9440 (April 5 high)

    An alternative scenario - correction, breakout of support Chf0. 9335-50 (March 24-25 and April lows) and may be a decline to the psychological level of Chf0. 9300

     

  • 19:29

    GBP / USD remains above MA (200) H1

    Today, the GBP/USD pair fell sharply from $1.3920 to $1.3820, losing almost all the positions won yesterday. On the hourly chart, the pair remains above the moving average line MA (200) H1 ($1.3790), but on the four-hour chart, it fell below MA (200) H4 ($1.3890). Technically speaking, a strong support level of $1.3790-1.3805 may keep the pair from further decline. If it breaks through, prices may drop to $1.3745. The upper bound of $1.3920 represents the support level. The most likely range of price movement for today may be hidden within the range of $1.3790-1.3920


    Resistance levels are: $1.3850,  $1.3920, $1.3960

    Support levels are: $1.3790-1.3805, $1.3745, $1.3705


    The main scenario for the pair's promotion -  break of the support of $1.3790-1.3805 (April 2 low, MA (200) H1) and then, perhaps, a decline to $1.3745 (April 1 low)

    An alternative scenario - correction and may be a rise to $1.3920 (April 5 high, session high)

  • 19:05

    EUR / USD is trading near a ten-day high

    Today, the EUR / USD pair is trading in the range of $1.1795-1.1820-near a ten-day high. On the hourly chart, the pair rose above the moving average line MA (200) H1 ($1.1770), but on the four-hour chart it remains well below MA (200) H4 ($1.1935). Technically speaking, a strong resistance level of $1.17830 may keep the pair from rising further. If it breaks through, prices can soar to $1.3810. The lower bound of $1.1770 represents the support level. If this level is passed, prices may follow a correction to $1.1700. The most likely range of price movement for today may be hidden within the range of $1.1770-1.1830


    Resistance levels are: $1.1820-30, $1.1870, $1.1945

    Support levels are:  $1.1770, $1.1740, $1.1700

    The main scenario for promoting the pair  - correction and may be a decline to MA (200) H1 ($1.1770)

    An alternative scenario - if the resistance of $1.1830 (March 25 high) is broken, the pair may rise to $1.1870 (March 19-22 low)


  • 14:17

    USD/CAD remains below MA 200 H1

    Yesterday, the USD/CAD was trading lower and closed the day in the red around the C$1.2520. Today it was trading in a narrow range of C$1.2520-40, staying close to yesterday's closing price. On the hourly chart, USD/CAD is still trading below the 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$1.2590-00, С$1.2625, С$1.2645

    • Support levels are at: С$1.2505, С$1.2465-75, С$1.2420

    Probably, the main scenario - is a continuation of the decline to C$1.2505 (Apr 5 low). An alternative scenario - may be consolidation above MA (200) H1 with a subsequent rise to C$1.2645 (Mar 30 high).

  • 13:53

    The AUD/USD is testing the MA 200 H1 resistance

    Yesterday the AUD/USD was trading higher and closed the day in positive territory around the $0.7650. Today it was trading in a narrow range of $0.7630-60, staying close to yesterday's closing price. 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 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: $0.7660, $0.7700, $0.7755

    • Support levels are at: $0.7590-00, $0.7560, $0.7530

    Probably, the main scenario - is the continuation of the downward movement to $0.7600 (Apr 5 low). Alternative scenario - may be consolidation above MA 200 H1 with subsequent growth to $0.7755 (Mar 22 high).

  • 13:46

    Gold continues to test resistance MA 200 H1

    Yesterday the XAU/USD traded in different directions in the range of $1721-$1733 and closed the day without significant changes. Gold is up slightly today, rising to $1735. 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 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: $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).

  • 13:46

    Oil remains below MA 200 H1

    Brent crude was trading lower yesterday and closed the day in the red around $62.15. Oil was trading in a narrow range of $62.00-$63.00 today, staying close to yesterday's closing price. On the hourly chart, Brent is still trading below the moving average MA line (200) H1 ($63.45). 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 entry points to sell on the formation of a correction.

    • Resistances levels are at: $65.20-75, $68.20, $70.10

    • Support levels are at: $61.20, $60.20, $59.10

    Probably, the main scenario - is a subsequent decline to $61.20 (Apr 5 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 remains above MA 200 H1

    Yesterday, the USD/JPY was trading lower and closed the day in the red around the price of Y110.15. Today it was trading in a narrow range of Y110.15-40, staying close to yesterday's closing price. On the hourly chart, USD/JPY is still trading above the moving average MA line (200) H1 (Y110.05). 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: Y110.85-95, Y111.65, Y112.20

    • Support levels are at: Y109.95, Y109.40, Y109.00-15

    Probably, the main scenario - is the continuation of the upward movement to Y110.85 (Apr 1 high). An alternative scenario - may be consolidation below MA 200 H1, followed by a decline to Y108.65 (Mar 25 low).

  • 12:37

    USD/CHF is testing MA 200 H1 support

    The USD/CHF was trading lower yesterday and closed the day in the red around the Chf0.9360. Today it, on the contrary, increased slightly, rising to the level of Chf0.9380. On the hourly chart, USD/CHF is testing its support - the MA (200) H1 (Chf0.9400) moving average line. On the four-hour chart, it remains above the MA 200 H4 line for now. 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: Chf0.9435, Chf0.9470, Chf0.9495

    • Support levels are at: Chf0.9345-50, Chf0.9285, Chf0.9240

    Probably, the main scenario - is a further rise towards Chf0.9435 (Apr 5 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).

  • 12:19

    GBP/USD has consolidated above MA 200 H1

     Yesterday the GBP/USD was trading higher and closed the day in positive territory around the $1.3900. Today it was trading in a narrow range of $1.3890-15, staying close to yesterday's closing price. On the hourly chart, GBP/USD has broken through and consolidated above the MA line (200) H1 ($1.3785). 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 northern direction in trading, and while the GBP/USD remains above MA 200 H1, it may be necessary to look for buy entry points to form a correction.

    • Resistances levels are at: $1.3915, $1.3955, $1.4000-15

    • Support levels are at: $1.3855, $1.3805-10, $1.3745-60

    Probably, the main scenario - is continued growth to $1.3915 (session high). An alternative scenario - may be consolidation below the MA 200 H1 level, followed by a fall to $1.3670 (Mar 25 low).

  • 12:03

    The EUR/USD is testing the MA 200 H1 resistance

    Yesterday the EUR/USD was trading higher and closed the day in positive territory around the $1.1810. Today it was trading in a narrow range of $1.1800-20, staying close to yesterday's closing price. On the hourly chart, EUR/USD is testing resistance - the MA (200) H1 ($1.1765) 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 sticking to the south direction in trading, and while the EUR/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: $1.1825, $1.1850, $1.1890

    • Support levels are at: $1.1740, $1.1705-15, $1.1600

    Probably, the main scenario - is the continuation of the decline to $1.1740 (Apr 5 low). An alternative scenario - may be final consolidation above the MA 200 H1, with a subsequent rise to $1.1890 (high of the American session on Mar 23).

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