Technical analysis

Technical analysis

07 October 2021
  • 20:04

    The NZD/USD pair is growing and testing MA (200) H1

    Today, the NZD/USD pair is trading mainly with an increase from $0.6910 to $0.6940 and is testing the MA (200) H1 moving average line ($0.6940) on the hourly chart. On the four-hour chart, the pair remains below MA (200) H4 ($0.7020). Technically speaking, a strong resistance level of $0.6980 may keep prices from rising further. The lower bound of $0.6860 represents the support level. The most likely range of the pair's movement for today may be hidden within the range of $0.6860-0.6980.


    Resistance levels are: $0.6980, $0.7030, $0.7090

    Support levels are:  $0.6910, $0.6860-75, $0.6805


    The main scenario for the pair's promotion — correction, breakout of the session low of $0.6910 and there may be a decline to $0.6860-75 (September 29-30, October 1 and 6 lows)

    An alternative scenario — the pair may rise to $0.6980 (October 4 high)


  • 19:45

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

    Today, the USD/JPY pair is trading in the Y111.20-50 range and is testing the MA (200) H1 (Y111.30) moving average line on the hourly chart. On the four-hour chart, the pair is trading above MA (200) H4 (Y110.25). Technically speaking, the support of Y111.20 can keep prices from falling. The upper bound of Y111.80 represents the resistance level. The most probable range of the pair's movement for today may be hidden within the range Y111.20-80.

     

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

    Support levels are: Y111.20, Y110.80, Y110.25


    The main scenario for the pair's promotion — correction, and there may be an increase in the pair to Y111.80 (October 6 high)

    An alternative scenario — if the support of Y111.20 is broken, the pair may fall to Y110.80 (October 4 low)

  • 19:29

    The USD/CHF pair dropped slightly below MA (200) H1

    Today, the USD/CHF pair is trading mainly with a decrease from Chf0.9285 to 0.9250 and on the hourly chart it fell slightly below the MA (200) H1 moving average line (CHF0.9290). On the four-hour chart, the pair remains above MA (200) H4 (CHF0.9215). Technically speaking, the support of Chf0.9215-30 can keep prices from further decline. The upper bound of Chf0.9290-0.9310 represents the resistance level. The most probable range of the pair's movement for today may be hidden within the existing range of Chf0.9215-0.9310.


    Resistance levels are: Chf0.9290-0.9310, Chf0.9340, Chf0.9370

    Support levels are: Chf0.9215-30, Chf0.9165,  Chf0.9130


    The main scenario for the pair's promotion — correction, and there may be an increase to Chf0.9290-0.9310 (October 4 and 6 high, MA (200) H1)


    An alternative scenario — the pair may decline to Chf0.9215-30 (September 22-23 and October 4 lows)


  • 19:19

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

    Today, the GBP/USD pair is trading in the range of $1.3570-1.3610 and is testing the MA (200) H1 moving average line ($1.3570) 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 $1.3530-45 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 $1.3530-1.3650.

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

    Support levels are: $1.3530-45, $1.3410, $1.3305

    The main scenario for the pair's promotion — decline to $1.3530-45 (October 4 and 6 lows) and then maybe to $1.3410 (September 29-30 low)

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

  • 18:59

    The EUR / USD pair is trading near the lows of the end of July 2020

    Today, the EUR/USD pair is trading in the range of $1.1550-70 - slightly above the low of the end of July 2020 ($1.1530) reached yesterday. On the hourly chart, the pair fell below the moving average line MA (200) H1 ($1.1620) and on the four-hour chart - below MA (200) H4 ($1.1745). In this situation, it is probably necessary to stick to the southern direction in trading, and, perhaps, it is worth looking for exit points for sale, at the end of the correction.

    Resistance levels are: $1.1620-40, $1.1705, $1.1750

    Support levels are: $1.1530, $1.1505, $1.1425

     

    The main scenario for promoting the pair  — it is possible to decline to $1.1530 (October 6 low) and then, maybe, to $1.1505 (July 22’ 2020 low)

    An alternative scenario — the pair may grow to $1.1620-40 (October 4-5 high, MA (200) H1)

  • 14:21

    USD/CAD remains below MA 200 H1

    Yesterday the USD/CAD traded in different directions in the range of С$1.2580-С$1.2645 and closed the day without significant changes. Today it was trading in a narrow range of C$1.2570-90, 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$1.2650). 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 a sell entry point for the formation of a correction.

    • Resistances levels are at: С$1.2645-55, 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 with a subsequent rise to C$1.2845 (Sep 21 high).

  • 14:20

    The AUD/USD is testing the MA 200 H1 resistance

    Yesterday the AUD/USD was trading lower and closed the day in the red around the $0.7270. Today it rallied slightly, rising to the level of $0.7290. On the hourly chart, AUD/USD is testing resistance - the MA (200) H1 ($0.7250) moving average line. 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: $0.7305-10, $0.7345, $0.7370-75

    • Support levels are at: $0.7225, $0.7190, $0.7170

    Probably, the main scenario is a downtrend to $0.7225 (Oct 6 low). An alternative scenario is consolidation above the MA 200 H1 with a subsequent rise to $0.7410 (Sep 10 high).

  • 13:54

    Gold continues to test resistance MA 200 H1

    Yesterday the XAU/USD traded in different directions in the range of $1745-65 and closed the day without significant changes. Gold has dropped slightly today, down to $1757. On the hourly chart, XAU/USD continues to test the resistance - the moving average MA (200) H1 ($1750). 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: $1770-76, $1787, $1796

    • Support levels are at: $1745, $1735, $1722

    Probably, the main scenario is a downtrend to $1745 (Oct 6 low). An alternative scenario is a final consolidation above the MA 200 H1, followed by a rise to $1808 (Sep 14 high).

  • 13:21

    Oil remains above MA 200 H1

    Brent crude traded lower yesterday and closed the day in the red around $81.35. Oil was trading in a narrow range of $81.00-60 today, staying close to yesterday's closing price. On the hourly chart, Brent is still trading above the moving average MA line (200) H1 ($79.75). 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 at the end of the correction.

    • Resistances levels are at: $84.00, $85.00, $86.00

    • Support levels are at: $79.35, $76.90-25, $75.70

    Probably, the main scenario is a subsequent rise to $84.00 (Oct 6 high). An alternative scenario is consolidation below the MA 200 H1, followed by a decline to $73.40 (Sep 21 low).

  • 13:00

    USD/JPY remains above MA 200 H1

    Yesterday the USD/JPY traded in different directions in the Y111.20-80 range and closed the day without significant changes. Today it was trading in a narrow range of Y111.30-50, staying close to yesterday's closing price. On the hourly chart, USD/JPY is still trading above the MA line (200) H1 (Y111.30). 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 to form a correction.

    • Resistances levels are at: Y111.80, Y112.05, Y112.25

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

    Probably, the main scenario is the continuation of the upward movement to Y111.80 (Oct 6 high). An alternative scenario is consolidation below MA 200 H1, followed by a decline to Y109.75 (Sep 23 low).

  • 12:31

    USD/CHF continues to test support for MA 200 H1

    The USD/CHF was trading lower yesterday and closed the day in the red around the Chf0.9275. Today it was trading in a narrow range of Chf0.9275-85, staying close to yesterday's closing price. On the hourly chart, USD/CHF is testing its support - the MA (200) H1 (Chf0.9290) 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: Chf0.9305-10, Chf0.9335, Chf0.9365

    • Support levels are at: Chf0.9225-30, Chf0.9195, Chf0.9165

    Probably, the main scenario is a further advance towards Chf0.9305 (Oct 6 high). Alternative scenario is consolidation below MA 200 H1, followed by a decline towards Chf0.9130 (Sep 7 low).

  • 12:27

    The GBP/USD is testing the MA 200 H1 resistance

    The GBP/USD was trading lower yesterday and closed the day in the red around $1.3585. Today it was trading in a narrow range of $1.3575-95, staying close to yesterday's closing price. On the hourly chart, GBP/USD is testing resistance - the MA (200) H1 ($1.3570) 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 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: $1.3645, $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 $1.3810 (Sep 17 high).

  • 11:56

    EUR/USD is trading near July 2020 lows

    EUR/USD was trading lower yesterday and closed the day in the red around $1.1555. Today it was trading in a narrow range of $1.1550-60, staying close to the lows of July 2020. On the hourly chart, EUR/USD is still trading below the moving average MA (200) H1 ($1.1625). On the four-hour chart, the EUR/USD also remains below the MA 200 H4 line. 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: $1.1610, $1.1640, $1.1670

    • Support levels are at: $1.1530, $1.1505, $1.1425

    Probably, the main scenario is a continuation of the decline to $1.1530 (Oct 6 low). An alternative scenario is a final consolidation above the MA 200 H1, followed by a rise to $1.1750 (Sep 23 high).

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