Technical analysis

Technical analysis

06 October 2021
  • 20:13

    The NZD/USD pair fell below MA (200) H1 again

    Today, the NZD/USD pair is trading with a decrease from $0.6980 to $0.6875 and on the hourly chart has again fallen below the MA (200) H1 moving average line ($0.6950). On the four-hour chart, the pair remains below MA (200) H4 ($0.7020). The pair broke through the support of $0.6925, which became the nearest resistance. Technically speaking, a strong support level of $0.6860 may keep prices from further decline. If it breaks through, prices may drop to $0.6805. The upper bound of $0.6980 represents the resistance level. The most probable range of the pair's movement for today may be hidden within the range of $0.6860-0.6980.



    Resistance levels are: $0.6925, $0.6980, $0.7030

    Support levels are: $0.6860, $0.6805, $0.6750


    The main scenario for the pair's promotion — decline to $0.6860 (September 29-30 low) and then, maybe, to $0.6805 (August 20 low)

    An alternative scenario — The resistance breakout is $0.6925 (October 4-5 low) and there may be an increase to $0.6980 (October 4 high)


  • 19:56

    USD/JPY pair remains above MA (200) H1

    Today, the USD/JPY pair is trading in the range Y111.40-80 and on the hourly chart remains above the moving average line MA (200) H1 (Y111.25). On the four-hour chart, the pair is trading above MA (200) H4 (Y110.20). In this situation, the scenario of further growth of the USD/JPY pair is likely. Finding a buy position can be a wise decision for those who want to take advantage of a stronger US dollar.

    Resistance levels are:  Y111.80, Y112.10, Y112.40

    Support levels are: Y111.25, Y110.80, Y110.50


    The main scenario for the pair's promotion — correction, breakout of the session maximum of Y111.80 and there may be an increase to Y112.10 (September 29-30 high)

    An alternative scenario — if the level of MA (200) H1 (Y111.25) is broken, then the pair may fall to Y110.80 (October 4 low)


  • 19:44

    The USD/CHF pair is testing MA (200) H1

    Today, the USD/CHF pair is trading in the range of Chf0.9280-0.9310 and is testing the MA (200) H1 moving average line (CHF0.9290) on the hourly chart. On the four-hour chart, the pair is trading above MA (200) H4 (CHF0.9215). Technically speaking, the resistance of Chf0.9310 can keep prices from further growth. If it breaks through, prices may rise to Chf0.9340. The lower bound of Chf0.9280 represents the resistance level. The most probable range of the pair's movement for today may be hidden within the existing range of Chf0.9280-0.9310.


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

    Support levels are: Chf0.9280, Chf0.9215-30,  Chf0.9165


    The main scenario for the pair's promotion — resistance breakout is Chf0.9310 (October 4 high, session maximum) and there may be an increase to Chf0.9340 (October 1 high)


    An alternative scenario — support breakout of Chf0.9280 (September 29 and October 1 low, session minimum) and there may be a decline in the pair to Chf0.9215-30 (September 22-23 and October 4 lows)


  • 19:18

    GBP/USD is declining and testing MA (200) H1

    Today, the GBP/USD pair is trading mainly with a decline from $1.3630 to $1.3540 and is testing the MA (200) H1 moving average line ($1.3580) on the hourly chart. On the four-hour chart, the pair remains below MA (200) H4 ($1.3715). Technically speaking, a strong support level of $1.3520-30 may keep prices from further decline. If it breaks through, prices may drop to $1.3410. The upper limit of $1.3650 represents the resistance level. The most likely range of the pair's movement for today may be hidden within the range of $1.3520-1.3650.


    Resistance levels are: $1.3650, $1.3715, $1.3750


    Support levels are: $1.3520-30, $1.3410, $1.3305


    The main scenario for the pair's promotion — decline to $1.3520-30 (September 28 and October 4 lows) and then maybe to $1.3410 (September 29-30 lows)

    An alternative scenario — correction and there may be an increase in the pair to $1.3650 (October 5 high)



  • 19:05

    The EUR/ USD pair fell to the minimum of the end of July 2020

    Today, the EUR/USD pair is trading with a decrease from $1.1600 to $1.1530, having fallen to the minimum of the end of July 2020. The pair broke through the support of $1.1560, which became the nearest resistance. On the hourly chart, the pair fell below the moving average line MA (200) H1 ($1.1640) and on the four-hour chart - below MA (200) H4 ($1.1750). In this situation, it is probably necessary to stick to the southern direction in trade, and maybe it is worth looking for exit points for sale. It is worth noting that the 14-day relative strength index (RSI (14) on D1) is below the level of 30, which signals a possible change in the direction of price movement.

    Resistance levels are: $1.1640-55, $1.1690, $1.1725

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

     

    The main scenario for promoting the pair  — the pair is likely to decline to $1.1505 (July 22’ 2020 low)

    An alternative scenario — if the resistance of $1.1560 (September 30 and October 1 low) is broken, the pair may rise to $1.1640 (October 4 high, MA (200) H1)


  • 14:19

    USD/CAD remains below MA 200 H1

    Yesterday the USD/CAD traded in different directions in the range of С$1.2545-С$1.2625 and closed the day without significant changes. Today the USD/CAD rallied slightly, rising to the level of C$1.2600. On the hourly chart, USD/CAD is still trading below the moving average MA (200) H1 (C$1.2655). The situation is similar on the four-hour chart. Based on the above, 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 a sell entry point at the end of the correction.

    • Resistances levels are at: С$1.2655, С$1.2735, С$1.2775-95

    • Support levels are at: C$1.2545, C$1.2520, C$1.2495

    Probably, the main scenario is the continuation of the decline to C$1.2545 (Oct 5 low). An alternative scenario is consolidation above MA (200) H1, followed by growth to C$1.2845 (Sep 21 high).

  • 14:05

    The AUD/USD is testing the MA 200 H1 resistance

    Yesterday the AUD/USD traded in different directions in the range of $0.7250-$0.7300 and closed the day without significant changes. Today it dropped slightly, dropping to $0.7260. On the hourly chart, AUD/USD is testing resistance - the moving average MA (200) H1 ($0.7255). On the four-hour chart, the AUD/USD 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: $0.7310-20, $0.7345, $0.7370-75

    • Support levels are at: $0.7250, $0.7190, $0.7170

    Probably, the main scenario is a downtrend to $0.7250 (Oct 4 low). An alternative scenario is consolidation above the MA 200 H1 with a subsequent rise to $0.7410 (Sep 10 high).

  • 14:00

    Gold continues to test the MA 200 H1 resistance

    The XAU/USD was trading lower yesterday and closed the day in the red around $1760. Gold has dropped slightly today, dropping to $1755. On the hourly chart, XAU/USD is testing resistance - the MA (200) H1 moving average line ($1749). 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: $1776, $1787, $1796

    • Support levels are at: $1747, $1735, $1722

    Probably, the main scenario is a downtrend to $1747 (Oct 4 low). An alternative scenario is a final consolidation above MA 200 H1, followed by a rise to $1808 (Sep 14 high).

  • 13:33

    Oil trades around October 2018 highs

    Yesterday, Brent crude was trading higher and closed the day in positive territory around $83.40. Crude oil traded in a narrow range of $82.95-30 today, staying close to the highs of October 2018. On the hourly chart, Brent is still trading above the moving average MA line (200) H1 ($79.15). 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 may be necessary to look for buy entry points for the formation of a correction.

    • Resistances levels are at: $83.70, $85.00, $86.00

    • Support levels are at: $81.75, $79.35, $76.90-25

    Probably, the main scenario is a subsequent rise to $83.70 (Oct 5 high). An alternative scenario is consolidation below MA 200 H1, followed by a decline to $71.40 (Sep 9 low).

  • 12:49

    USD/JPY continues to rise yesterday

    Yesterday the USD/JPY was trading higher and closed the day in positive territory around the Y111.45. Today it also rose slightly, rising to Y111.65. On the hourly chart, USD/JPY is still trading above the moving average MA line (200) H1 (Y111.15). 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: Y112.05, Y112.25, Y112.65

    • Support levels are at: Y110.80-85, Y110.55, Y110.30

    Probably, the main scenario is the continuation of the upward movement to Y112.05 (Sep 30 high). An alternative scenario is consolidation below MA 200 H1, followed by a decline to Y109.10 (Sep 22 low).

  • 12:32

    USD/CHF is testing support for MA 200 H1

    Yesterday the USD/CHF was trading higher and closed the day in positive territory around the Chf0.9280. Today it was trading in a narrow range of Chf0.9280-90, staying close to yesterday's closing price. On the hourly chart, USD/CHF is testing its support - the MA (200) H1 (Chf0.9285) moving average line. On the four-hour chart, the USD/CHF 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: Chf0.9310, Chf0.9335, Chf0.9365

    • Support levels are at: Chf0.9215-30, Chf0.9195, Chf0.9165

    Probably, the main scenario is a further advance towards Chf0.9310 (Oct 4 high). Alternative scenario is consolidation below MA 200 H1, followed by a decline towards Chf0.9130 (Sep 7 low).

  • 12:17

    GBP/USD is testing the MA 200 H1 resistance

    Yesterday the GBP/USD was trading higher and closed the day in positive territory around the $1.3590. Today it was trading in a narrow range of $1.3585-10, staying close to yesterday's closing price. On the hourly chart, GBP/USD is testing resistance - the MA (200) H1 ($1.3590) 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 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: $1.3640, $1.3715, $1.3750-65

    • Support levels are at: $1.3530, $1.3415-35, $1.3305

    Probably, the main scenario is the continuation of the decline to $1.3530 (Oct 4 low). An alternative scenario is consolidation above the MA 200 H1 level with a subsequent rise to $1.3910 (Sep 14 high).

  • 11:57

    EUR/USD remains below MA 200 H1

    EUR/USD was trading lower yesterday and closed the day in the red around $1.1595. Today it was trading in a narrow range of $1.1590-00, staying close to yesterday's closing price. On the hourly chart, EUR/USD is still trading below the moving average MA (200) H1 ($1.1645). 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 a sell entry point for the formation of a correction.

    • Resistances levels are at: $1.1640, $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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