Technical analysis

Technical analysis

07 April 2021
  • 20:24

    NZD / USD remains above MA (200) H1

    Today, the NZD/USD pair is declining from $0.7070 to $0.7030, having lost all the positions gained yesterday. The pair remains above the moving average line of MA (200) H1 ($0.7010), but on the four-hour chart it is trading well below MA (200) H4 ($1.7155). 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: $0.7005-10, $0.6940, $0.6895


    The main scenario for the pair's promotion - break of the support of $0.7005-10 (April 2-6 lows) and may be a decline to $0.6940 (March 25 and April 1 low)

    An alternative scenario - growth to $0.7170 (April 5-6 high, session high) and then maybe to $0.7100 (March 5-9 low)


  • 20:17

    USD/JPY is trading near a one-week low

    Today, the USD/JPY pair is trading in the range of Y109. 60-90-near a weekly low. On the hourly chart, the pair fell below the MA (200) H1 (Y110.20) moving average line, but on the four-hour chart, it is trading well above MA (200) H4 (Y108.40). In this situation, it is probably worth sticking to the north direction in trading, and at the end of the correction, you should look for exit points to buy.

     

    Resistance levels are: Y110.20, Y110.55, Y110.95

    Support levels are:  Y109.35-60, Y109.00, Y108.40


    The main scenario for the pair's promotion -  correction, growth to MA (200) H1 (Y110. 20), and then may be to Y110. 55 (April 6 high)

    An alternative scenario - if the support of Y109.35-60 (March 29 low, session low) is broken, the pair may fall to the psychological level of Y109. 00


  • 20:10

    USD / CHF has consolidated below MA (200) H1

    Today, the USD/CHF pair continues the decline that began at the beginning of the week and fell to a two-week low of Chf0. 9285. The pair broke through the support of Chf0. 9350, which became the nearest resistance. On the hourly chart, the pair has settled below the moving average line MA (200) H1 (Chf0. 9395), but on the four-hour chart it remains slightly above MA (200) H4 (Chf0.9250). In this situation, it is probably worth starting to stick to the south direction in trading, and maybe you should look for a point of exit for sale.


    Resistance levels are: Chf0.9350, Chf0.9395, Chf0.9440

    Support levels are: Chf0.9250, Chf0.9210-20, Chf0.9135


    The main scenario for the pair's promotion - breakout of support for Chf0. 9250 (March 19 low) and may be a decline to Chf0.9210-20 (March 17-18 and 22 lows)

    An alternative scenario - correction, breakout of the resistance of Chf0. 9350 (March 25 and April 5 low) and may be an increase to Chf0.9395 (April 6 high, MA (200) H1

  • 19:38

    GBP / USD tests MA (200) H1

    Today, since the beginning of the European session, the GBP/USD pair fell sharply to $1.3770, but soon rose again, regaining all the lost positions. On the hourly chart, the pair is testing the MA (200) H1 ($1.3805) moving average line, but on the four-hour chart, it is trading below MA (200) H4 ($1.3890). Technically speaking, the resistance of $1.3850 may keep the pair from rising further. If it breaks through, prices may rise to $1.3920. The session low of $1.3770 represents the support level. The most likely range of price movement for today may be hidden within the range of $1.3770-1.3850


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

    Support levels are: $1.3770, $1.3745, $1.3705


    The main scenario for the pair's promotion -  if the session low of $1.3770 is broken, the pair may fall to $1.3745 (April 1 low)

    An alternative scenario - break of the resistance of $1.3850 (April 2 high) and may be an increase to $1.3920 (April 5-6 high)

  • 19:15

    The EUR / USD pair rose to a two-week high

    Today, the EUR / USD pair continues the growth started from the beginning of the week and reached a two-week high of $1.1900. On the hourly chart, the pair rose above the moving average line MA (200) H1 ($1.1775), but on the four-hour chart it remains slightly below MA (200) H4 ($1.1930). In this situation, it is probably worth starting to stick to the north direction in trading, and maybe you should look for an exit point to buy.

    Resistance levels are: $1.1945, $1.1990, $1.2065

    Support levels are:  $1.1865, $1.1775-95, $1.1740

    The main scenario for promoting the pair  - continuation of the upward movement to $1.1945 (March 22 high)

    An alternative scenario - breakout of the session low of $1.1865 and may be a decline to $1.1775-95 (April 6 low, MA (200) H1)

  • 14:08

    USD/CAD remains below MA 200 H1

    Yesterday 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$1.2565-85, staying close to yesterday's closing price. On the hourly chart, USD/CAD is still trading below the moving average MA line (200) H1 (C$1.2575). 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$1.2540, С$1.2505, С$1.2465-75

    Probably, the main scenario - is the continuation of the decline to C$1.2540 (low of the American session on Apr 6). An alternative scenario - may be consolidation above MA (200) H1 with a subsequent rise to C$1.2645 (Mar 30 high).

  • 14:02

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

    Yesterday the AUD/USD traded in different directions in the range of $0.7605-65 and closed the day without significant changes. Today it was trading in a narrow range of $0.7650-75, staying close to yesterday's closing price. On the hourly chart, AUD/USD continues to test the resistance - the moving average line MA (200) H1 ($0.7620). 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: $0.7675, $0.7700, $0.7755

    • Support levels are at: $0.7600-05, $0.7560, $0.7530

    Probably, the main scenario - is the continuation of the downward movement to $0.7605 (Apr 6 low). Alternative scenario - may be consolidation above MA 200 H1, followed by growth to $0.7700 (high of the European session on Mar 23).

  • 13:30

    Gold continues to test resistance MA 200 H1

    Yesterday, the XAU/USD was trading higher and closed the day in positive territory around $1742. Today, on the contrary, gold fell slightly, dropping to $1735. On the hourly chart, XAU/USD is testing resistance - the MA (200) H1 moving average line ($1719). 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 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: $1745, $1755, $1775

    • Support levels are at: $1720, $1705-10, $1678-82

    Probably, the main scenario - is the continuation of the downward movement to $1720 (Apr 5 low). An alternative scenario - may be final consolidation above the MA 200 H1 with a subsequent rise to $1755 (Mar 18 high).

  • 13:22

    Oil remains below MA 200 H1

    Brent crude traded higher yesterday and closed the day in positive territory around $62.70. Today oil was trading in a narrow range of $62.55-00, staying close to yesterday's closing price. On the hourly chart, Brent is still trading below the moving average MA line (200) H1 ($63.40). 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 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: $64.25, $65.25-75, $68.20

    • 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).

  • 13:04

    USD/JPY is testing MA 200 H1 support

    Yesterday, the USD/JPY was trading lower and closed the day in the red around the Y109.75. Today it was trading in a narrow range of Y109.55-85, staying close to yesterday's closing price. On the hourly chart, USD/JPY is testing its support - the MA (200) H1 (Y110.20) 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/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: Y110.55, Y110.85-95, Y111.65

    • Support levels are at: Y109.40, Y109.00-15, Y108.65

    Probably, the main scenario - is the continuation of the upward movement to Y110.55 (Apr 6 high). An alternative scenario - may be consolidation below MA 200 H1, followed by a decline to Y109.00 (low of the American session on Mar 25).

  • 12:37

    USD/CHF has consolidated below MA 200 H1

    The USD/CHF was trading lower yesterday and closed the day in the red around the Chf0.9310. Today it was trading in a narrow range of Chf0.9305-15, staying close to yesterday's closing price. On the hourly chart, USD/CHF has broken through and consolidated below the moving average MA (200) H1 (Chf0.9400). On the four-hour chart, it remains above 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 USD/CHF 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: Chf0.9330, Chf0.9395, Chf0.9435

    • Support levels are at: Chf0.9285-00, Chf0.9240, Chf0.9225

    Probably, the main scenario - is a subsequent decline to Chf0.9300 (Apr 6 low). Alternative scenario - may be consolidation above MA 200 H1 level, with further advance towards Chf0.9470 (Apr 1 high).

  • 12:18

    GBP/USD remains above MA 200 H1

    Yesterday the GBP/USD was trading lower and closed the day in the red around $1.3825. Today it was trading in a narrow range of $1.3820-40, staying close to yesterday's closing price. On the hourly chart, GBP/USD is still trading above the MA line (200) H1 ($1.3800). 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 northern direction in trading and while the GBP/USD 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: $1.3865, $1.3915, $1.3955

    • Support levels are at: $1.3800, $1.3745-60, $1.3705-15

    Probably, the main scenario - is continued growth to $1.3865 (high of the American session on Apr 6). An alternative scenario - may be consolidation below the MA 200 H1 level, followed by a fall to $1.3705 (Mar 30 low).

  • 12:01

    EUR/USD has consolidated above MA 200 H1

    Yesterday the EUR/USD was trading higher and closed the day in positive territory around the $1.1870. Today it was trading in a narrow range of $1.1865-75, staying close to yesterday's closing price. On the hourly chart, EUR/USD broke through yesterday and consolidated above the MA line (200) H1 ($1.1770). 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 EUR/USD remains above MA 200 H1, it may be necessary to look for buy entry points to form a correction.

    • Resistances levels are at: $1.1875, $1.1895, $1.1930-45

    • Support levels are at: $1.1835, $1.1795, $1.1740

    Probably, the main scenario - is continued growth to $1.1875 (session high). An alternative scenario - may be final consolidation below the MA 200 H1, followed by a decline to $1.1705 (Mar 31 low).

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