Technical analysis

Technical analysis

07 September 2020
  • 20:20

    NZD / USD retreated from the highs of the end of July 2019 and is testing MA (200) H1

    Today, the NZD / USD pair remains within Friday's trading range ($0.6665-0.6735), but is reporting slightly below the highs of the end of July 2019 reached last week. The pair is testing the moving average line MA (200) H1 ($0.6700), but on the four-hour chart it is trading above MA (200) H4 ($0.6630). In this situation, it is probably worth continuing to stick to the North direction in trading, and you may consider buying during the correction. The most likely range of the pair's movement to date may be hidden within the range of $0.6665-0.6735.


    Resistance levels are at: $0.6735, $0.6790, $0.6840

    Support levels are at: $0.6735, $0.6790, $0.6840


    The main scenario for the pair's promotion - if the resistance breaks $0.6735 (September 4 high), the pair is likely to rise to $0.6790 (July 18-22, 2019 and September 2 high)

    An alternative scenario - support breakout of $0.6665 (September 4 low) and likely decline to $0.6600 (August 27 low)

    NZD / USD retreated from the highs of the end of July 2019 and is testing MA (200) H1 07.09.2020

  • 20:04

    USD/JPY remains slightly above MA (200)

    Today, the USD/JPY pair is trading in a narrow range of Y106.10-40 and remains slightly above the moving average line of MA (200) H1 (Y106.10) and MA (200) H4 (Y105.95). A strong resistance level of Y106. 55-60 (August 25 and September 3 highs) may keep the pair from further growth. If it breaks through, the pair may soar to Y106. 95-107.05 (August 12-14 and 28 highs). The lower bound of Y106. 00 represents the support level. If this level is passed, USD/JPY may follow a correction to Y105. 60. The most likely range of movement of the pair to date may be hidden within the range of Y106. 00-60.

    Resistance levels are at: Y106.55-60, Y106.95-107.05, Y107.50

    Support levels are at: Y106.00-10, Y105.60, Y105.20


    The main scenario for the pair's promotion - if the support breaks Y106.00-10 (September 3 low, MA (200) H1), the pair is likely to decline to Y105.60 (September 1 low).

    An alternative scenario - in the event of a breakout of strong resistance Y106. 55-60 (August 25 and September 3 highs), it is likely to rise to the area Y106.95-107.05 (August 12-14 and 28 highs)

    USD/JPY remains slightly above MA (200) 07.09.2020


  • 19:55

    USD/CHF is trading above MA (200)

    Today, the USD/CHF pair is trading in the range of Chf0. 9120-50 after rising on Friday from Chf0.9085 to a near three-week high of Chf0.9160. A strong resistance level of Chf0. 9160 (August 20 and September 4 high) keeps USD / CHF from further growth. If it breaks through, the pair may soar to Chf0. 9200 (August 12 high). The lower bound of Chf0. 9080-85 (September 3 low, MA (200) H1) represents the support level. If this level is passed, USD/JPY may follow a correction to Chf0. 9025 (August 28 low). The most likely range of movement of the pair to date may be hidden within the range of Chf0. 9080-0.9160.


    Resistance levels are at:  Chf0.9160, Chf0.9200, Chf0.9240

    Support levels are at:  Chf0.9120, Chf0.9080-85, Chf0.9025


    The main scenario for the pair's promotion - if the session low of Chf0.9020 breaks, the pair is likely to decline to Chf0.9080-85 (September 3 low, MA (200) H1).

    An alternative scenario - If the strong resistance of Chf0.9160 (August 20 and September 4 high) will be punched, the pair is likely to rise to Chf0.9200 (August 12 high).

    USD/CHF is trading above MA (200) 07.09.2020

  • 19:36

    GBP / USD is trading lower, but remains above MA (200) H4

    Today, the GBP / USD pair is trading down from $1.3275 to $1.3150, reaching a weekly low and falling below the MA (200) H1 moving average line ($1.3290). However, on the four-hour chart, the pair is still trading above MA (200) H4 ($1.3100). Until the MA (200) H4 level is broken, it is probably worth continuing to stick to the north direction in trading, and it may be necessary to consider buying during the correction.


    Resistance levels are at: $1.3290-1.3320, $1.3400, $1.3480

    Support levels are at: $1.3115, $1.3050, $1.3005


    The main scenario for the pair's promotion - reversal, growth to $1.3290-1.3320 (September 4 high, MA (200), and then, likely growth to $1.3400 (September 2 high).

    An alternative scenario - if the support breaks $1.3115 (August 26 low), the pair is likely to decline to $1.3050 (August 24 low)

    GBP / USD is trading lower, but remains above MA (200) H4 07.09.2020


  • 19:15

    EUR / USD remains below MA (200) H1

    Today, the EUR / USD pair is trading with a slight decline after rising at the end of US trading on Friday: the pair fell to $1.1820, after rising on Friday to $1.1780 to $1.1855. On the hourly chart, the pair remains below the moving average line MA (200) H1 ($1.1865), but on the four-hour chart it is trading slightly above MA (200) H4 ($1.1805). In this situation, it is probably worth continuing to stick to the North direction in trading, and may be considering buying during the correction.


    Resistance levels are at: $1.1865, $1.1930, $1.1965

    Support levels are at: $1.1755-80, $1.1695-1.1710, $1.1640


    The main scenario for promoting the pair  - if the strong resistance of $1.1865 breaks through (August 3-4 high, MA (200) H1, the pair is likely to rise to $1.1930 (September 2 high)

    An alternative scenario - if the area breaks $1.1755-80 (August 21, 26-27 and September 4 lows), the pair is likely to decline to $1.1695-1.1710 (August 3 and 12 lows)

    EUR / USD remains below MA (200) H1 07.09.2020


  • 14:23

    USD/CAD remains below MA 200 H1

    On Friday, the USD/CAD was trading lower and closed the day in the red zone near the C$1.3055. Today it rallied slightly, rising to the C$1.3095. On the hourly chart, USD/CAD is still trading below the moving average MA (200) H1 (C$1.3095). 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 is necessary to look for a sell entry point to form a correction.

    • Resistances levels are at: С$1.3160, С$1.3205, С$1.3235

    • Support levels are at: С$1.3040, С$1.2980-95, С$1.2900

    USD/CAD remains below MA 200 H1 07.09.2020

    Probably, the main scenario - might be is the continuation of the decline to C$1.3040 (Sep 2 low). An alternative scenario - might be consolidation above MA (200) H1 with a subsequent rise to C$1.3205 (Aug 26 high).

  • 14:03

    AUD/USD continues to test support for MA 200 H1

    On Friday, the AUD/USD traded in different directions in the range of $0.7220-95 and closed the day without significant changes. It was also trading in a narrow range of $0.7275-95, staying close to Friday's close. On the hourly chart, AUD/USD continues to test the strength of the support - the moving average line MA (200) H1 ($0.7300). On the four-hour chart, it remains above the MA 200 H4 line. Based on the above, it is probably worth sticking to the northern direction in trading, and while the AUD/USD remains above MA 200 H1, it is necessary to look for buy entry points to form a correction.

    • Resistances levels are at: $0.7310, $0.7365, $0.7410

    • Support levels are at: $0.7220, $0.7190, $0.7150

    AUD/USD continues to test support for MA 200 H1 07.09.2020

    Probably, the main scenario - is the continuation of the upward movement to $0.7310 (high of the American session on Sep 3). An alternative scenario - is the final consolidation below MA 200 H1 with a subsequent decline to $0.7185 (Aug 26 low).

  • 13:57

    Gold is testing support for MA 200 H1

    On Friday, the XAU/USD traded in different directions in the range of $1916-47 and closed the day without significant changes. Gold traded in a tight range of $1931-41 today, staying close to Friday's close. On the hourly chart, XAU/USD continues to test the strength of the support - the moving average line MA (200) H1 ($1947). The situation is similar on the four-hour chart. Based on the foregoing, it is probably worth adhering to the northern direction in trading and until the XAU/USD finally consolidates below MA 200 H1, it may be necessary to look for buy entry points to form a correction.

    • Resistances levels are at: $1950, $1971, $1992

    • Support levels are at: $1910, $1903, $1875

    Gold is testing support for MA 200 H1 07.09.2020

    Probably, the main scenario - is continued growth towards $1950 (Sep 3 high). An alternative scenario -  may be final consolidation below the MA 200 H1, followed by a decline to $1910 (Aug 27 low).

  • 13:23

    Oil continues to decline on Friday

    Brent crude traded lower on Friday and closed the day in the red around $42.00. Crude oil also dropped slightly today, falling to $41.45. On the hourly chart, Brent is still trading below the moving average MA line (200) H1 ($44.90). The situation is similar on the four-hour chart. Based on the above, it is probably worth sticking to the southern direction in trade and as long as Brent remains below MA 200 H1, it may be necessary to look for entry points to sell for the formation of a correction.

    • Resistances levels are at: $42.80, $44.10-35, $45.25

    • Support levels are at: $41.35, $40.85, $39.90

    Oil continues to decline on Friday 07.09.2020

    Probably, the main scenario - is a subsequent decline to $41.35 (Jul 30 low). An alternative scenario -  consolidation above MA 200 H1 with a subsequent rise to $45.85 (Sep 1 high).

  • 13:01

    USD/JPY continues to test resistance MA 200 H1

    On Friday, the USD/JPY was trading higher and closed the day in positive territory around Y106.25. Today it was trading in a narrow range of Y106.20-40, staying close to yesterday's closing price. On the hourly chart, USD/JPY is testing its resistance - the MA (200) H1 (Y106.10) moving average line. The situation is similar on the four-hour chart. Based on the above, it is probably worth sticking to the southern direction in trading and until the pair finally fixes above MA 200 H1, it may be necessary to look for entry points to sell at the end of the correction.

    • Resistances levels are at: Y106.50, Y106.90-00, Y107.35

    • Support levels are at: Y105.85, Y105.60, Y105.20-30

    USD/JPY continues to test resistance MA 200 H1 07.09.2020

    Probably, the main scenario - is the continuation of the downward movement to Y105.85 (Sep 2 low). An alternative scenario assumes final consolidation above MA 200 H1, followed by a rise to Y106.90 (Aug 28 high).

  • 12:47

    USD/CHF remains above MA 200 H1

    On Friday, the USD/CHF was trading higher and closed the day in positive territory around the Chf0.9130. Today it was trading in a narrow range of Chf0.9130-45, staying close to Friday's close. On the hourly chart, USD/CHF is still trading above the MA line (200) H1 (Chf0.9085). The situation is similar on the four-hour chart. Based on the above, it is probably worth sticking to the North direction in trading and as long as the pair remains above MA 200 H1, it may be necessary to look for entry points to buy for the formation of a correction.

    • Resistances levels are at: Chf0.9160, Chf0.9195, Chf0.9240

    • Support levels are at: Chf0.9080-85, Chf0.9055, Chf0.9000

    USD/CHF remains above MA 200 H1 07.09.2020

    Probably, the main scenario - is a further advance towards Chf0.9160 (Sep 4 high). Alternative scenario - consolidation below MA 200 H1 level, followed by a decline to Chf0.9000 (Sep 1 low).

  • 12:24

    GBP/USD continues to test MA 200 H1

    On Friday, the GBP/USD traded in different directions in the range of $1.3175-$1.3315 and closed the day without significant changes. Today it dropped slightly, dropping to $1.3235. On the hourly chart, GBP/USD is testing the strength of the support - the moving average MA (200) H1 ($1.3285). On the four-hour chart, it remains above the MA 200 H4 line. Based on the above, it is probably worth sticking to the North direction in trading, and until the pair is finally fixed below MA 200 H1, it may be necessary to look for entry points to buy for the formation of a correction.

    • Resistances levels are at: $1.3315, $1.3355, $1.3400

    • Support levels are at: $1.3165-75, $1.3120, $1.3055

    GBP/USD continues to test MA 200 H1 07.09.2020

    Probably, the main scenario - is continued growth towards $1.3315 (Sep 3 high). An alternative scenario -  consolidation below the MA 200 H1 level with a subsequent decline to $1.3120 (Aug 26 low).

  • 12:01

    EUR/USD continues to test MA 200 H1

    On Friday, the EUR/USD traded in different directions in the range of $1.1785-$1.1865 and closed the day without significant changes. It was also trading in a narrow range of $1.1830-40 today, staying close to yesterday's closing price. On the hourly chart, EUR/USD is testing the strength of the support - the MA line (200) H1 ($1.1865). On the four-hour chart, it remains above the MA 200 H4 line. Based on the above, it is probably worth sticking to the North direction in trading, and until the pair is finally fixed below MA 200 H1, it may be necessary to look for entry points to buy for the formation of a correction.

    • Resistances levels are at: $1.1865-75, $1.1925, $1.1965

    • Support levels are at: $1.1785, $1.1755-60, $1.1710

    EUR/USD continues to test MA 200 H1 07.09.2020

    Probably, the main scenario - is a possible continuation of the rise to $1.1865 (Sep 4 high). Alternative scenario - likely final consolidation below MA 200 H1, followed by a decline to $1.1785 (Sep 4 low).

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