Technical analysis

Technical analysis

08 September 2020
  • 20:14

    NZD / USD fell below MA (200) H1

    Today, the NZD / USD pair is trading with a slight decline from $0.6705 to $0.6660, falling to a one-week low, after rising last week to the highs of the end of July 2019. The pair fell below the moving average of MA (200) H1 ($0.6715), 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 $0.6635-0.6735.


    Resistance levels are at: $0.6715-35, $0.6790, $0.6840

    Support levels are at: $0.6600, $0.6540, $0.6540


    The main scenario for the pair's promotion - if the resistance breaks $0.6715-35 (September 4 high, MA (200) H1), the pair is likely to grow to $0.6790 (July 18-22 high, 2019 and September 2 high)

    An alternative scenario - support breakout of $0.6635 (August 28 low) and likely decline to $0.6600 (August 27 low)

    NZD / USD fell below MA (200) H1 08.09.2020


  • 19:57

    USD/JPY remains slightly above MA (200)

    Today, the USD/JPY pair is trading in a narrow range of Y106.20-40 and remains slightly above the moving average line of MA (200) H1 (Y106.10) and MA (200) H4 (Y105.90). 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) 08.09.2020


  • 19:49

    USD/CHF is trading near a near one-month high

    Today, the USD / CHF pair is trading in the range of Chf0. 9155-1.9200, reaching a nearly one-month high. A strong resistance level of Chf0. 9200 (August 12 high, session high) keeps USD / CHF from further growth. If it breaks through, the pair may soar to Chf0. 9240 (August 3 high). The lower bound of Chf0. 9120 (September 7 low) represents the support level. If this level is passed, USD / CHF may follow a correction to Chf0. 9080-95 (September 3-4 lows, MA (200) H1). The most likely range of movement of the pair to date may be hidden within the range of Chf0. 9120-0.9200.


    Resistance levels are at:  Chf0.9200, Chf0.9240, Chf0.9300

    Support levels are at:  Chf0.9120, Chf0.9080-95, Chf0.9025


    The main scenario for the pair's promotion - if the resistance breaks through Chf0.9200 (August 12 high, session high), the pair is likely to rise to Chf0.9240 (August 3 high).

    An alternative scenario - in the event of a breakout of support for Chf0. 9120 (September 7 low), the pair is likely to decline to Chf0.9080-95 (September 3-4 lows, MA (200) H1).

    USD/CHF is trading near a near one-month high 08.09.2020

  • 19:34

    GBP / USD falls to near three-week low

    Today, the GBP / USD pair continues to decline, reaching a nearly three-week low of $1.3020. On the hourly chart, the pair is trading below the moving average line MA (200) H1 ($1.3285) and on the four-hour chart, it fell below MA (200) H4 ($1.3115), indicating that the pair is likely to come under the control of bears. In this situation, it may be worth starting to stick to the southern direction in trade, and consider buying during the correction.


    Resistance levels are at: $1.3165, $1.3285-1.3320, $1.3400

    Support levels are at: $1.3005-20, $1.2945, $1.2835


    The main scenario for the pair's promotion - if the session low of $1.3020 breaks and the support of $1.3005 (August 3 and 12 low), the pair is likely to decline to $1.2945 (July 30 low).

    An alternative scenario - if the resistance breaks $1.3165 (August 27 low, session high), the pair is likely to grow to $1.3285-1.3320 (September 4 high, MA (200) H1)

    GBP / USD falls to near three-week low 08.09.2020

  • 19:14

    EUR / USD remains below MA (200) H1

    Today, the EUR / USD pair is trading in the range of $1.1780-1.1830-slightly above the strong support of $1.1780 (September 4 low). On the hourly chart, the pair remains below the moving average line MA (200) H1 ($1.1865), but on the four-hour chart, it tests MA (200) H4 ($1.1815). If the pair is fixed below these levels, it is likely to start forming a new downtrend. While this has not happened, it is probably worth continuing to stick to the North direction in trading, and may consider 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, session lows), the pair is likely to decline to $1.1695-1.1710 (August 3 and 12 low)

    EUR / USD remains below MA (200) H1 08.09.2020

  • 14:05

    USD/CAD is testing the MA 200 H1 resistance

    Yesterday the USD/CAD was trading higher and closed the day in positive territory around the C$1.3095. Today it rallied slightly, rising to C$1.3115. On the hourly chart, USD/CAD is testing resistance - the moving average MA (200) H1 (С$1.3085). On the four-hour chart, it 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 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$1.3160, С$1.3205, С$1.3235

    • Support levels are at: С$1.3040-45, С$1.2980-95, С$1.2900

    USD/CAD is testing the MA 200 H1 resistance 08.09.2020

    Probably, the main scenario - is a continuation of the decline to C$1.3045 (Sep 4 low). An alternative scenario - may be consolidation above MA (200) H1, followed by growth to C$1.3160 ​​(Sep 3 high).

  • 14:03

    AUD/USD continues to test support for MA 200 H1

    Yesterday the AUD/USD traded in different directions in the range of $0.7270-95 and closed the day without significant changes. Today it was trading in a narrow range of $0.7270-85, remaining close to yesterday's closing price. On the hourly chart, AUD/USD continues to test the strength of the support - the moving average line MA (200) H1 ($0.7310). 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 may be necessary to look for buy entry points at the end of the 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 08.09.2020

    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 - may be final consolidation below MA 200 H1, followed by a decline to $0.7185 (Aug 26 low).

  • 13:45

    Gold continues to test support for MA 200 H1

    Yesterday the XAU/USD traded in different directions in the range of $1924-40 and closed the day without significant changes. Today gold was trading in a narrow range of $1922-32, staying close to yesterday's closing price. On the hourly chart, XAU/USD continues to test the strength of the support - the moving average 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: $1947-50, $1971, $1992

    • Support levels are at: $1915, $1903, $1875

    Gold continues to test support for MA 200 H1 08.09.2020

    Probably, the main scenario - is continued growth towards $1947 (Sep 4 high). An alternative scenario - may be a final consolidation below the MA 200 H1, followed by a decline to $1903 (Aug 26 low).

  • 13:27

    Oil is trading near 2-month lows

    Brent crude traded lower yesterday and closed the day in the red around $41.75. Oil traded in a narrow range of $41.50-85 today, staying close to 2-month lows. On the hourly chart, Brent is still trading below the moving average MA line (200) H1 ($44.65). 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: $42.80, $44.10-35, $45.25

    • Support levels are at: $41.40, $40.85, $39.90

    Oil is trading near 2-month lows 08.09.2020

    Probably, the main scenario - is a subsequent decline to $41.40 (Sep 7 low). An alternative scenario - may be consolidation above MA 200 H1 with a subsequent rise to $45.85 (Sep 1 high).

  • 13:02

    USD/JPY continues to test resistance MA 200 H1

    Yesterday the USD/JPY traded in different directions in the range Y106.15-35 and closed the day without significant changes. Today it was trading in a narrow range of Y106.25-30, staying close to yesterday's closing price. On the hourly chart, USD/JPY is testing resistance - the MA (200) H1 (Y106.05) moving average line. 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 until the USD/JPY finally consolidates above MA 200 H1, it may be  necessary to look for a sell entry point at the end of the correction.

    • Resistances levels are at: Y106.50-55, Y106.90-00, Y107.35

    • Support levels are at: Y105.85-00, Y105.60, Y105.20-30

    USD/JPY continues to test resistance MA 200 H1 08.09.2020

    Probably, the main scenario - is the continuation of the downward movement to Y106.00 (Sep 3 low). An alternative scenario - may be final consolidation above MA 200 H1, followed by a rise to Y106.90 (Aug 28 high).

  • 12:42

    USD/CHF continues to rise yesterday

    Yesterday the USD/CHF was trading higher and closed the day in positive territory around the Chf0.9160. It also rose slightly today, climbing to Chf0.9175. On the hourly chart, USD/CHF has broken through and consolidated above the MA line (200) H1 (Chf0.9090). 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/CHF remains above MA 200 H1, it may be necessary to look for buy entry points to form a correction.

    • Resistances levels are at: Chf0.9195, Chf0.9240, Chf0.9260

    • Support levels are at: Chf0.9145, Chf0.9120, Chf0.9080-85

    USD/CHF continues to rise yesterday 08.09.2020

    Probably, the main scenario - is a further rise towards Chf0.9195 (Aug 12 high). Alternative scenario - may be consolidation below MA 200 H1 level, followed by a decline to Chf0.9000 (Sep 1 low).

  • 12:22

    GBP/USD continues yesterday's decline

    Yesterday the GBP/USD was trading lower and closed the day in the red around $1.3165. Today it also dropped slightly, dropping to $1.3135. On the hourly chart, GBP/USD broke through yesterday and consolidated below the MA line (200) H1 ($1.3285). On the four-hour chart, it remains above the MA 200 H4 line. 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 to form a correction.

    • Resistances levels are at: $1.3235, $1.3315, $1.3400

    • Support levels are at: $1.3120, $1.3045-55, $1.3005

    GBP/USD continues yesterday's decline 08.09.2020

    Probably, the main scenario - is the continuation of the decline to $1.3120 (Aug 26 low). An alternative scenario - may be consolidation above the MA 200 H1 level with a subsequent rise to $1.3400 (Sep 2 high).

  • 12:03

    EUR/USD continues testing MA 200 H1

    Yesterday the EUR/USD was trading lower and closed the day in the red around the $1.1810. Today it was trading in a narrow range of $1.1795-20, staying close to yesterday's closing price. On the hourly chart, EUR/USD continues to test the strength of the support - the moving average line MA (200) H1 ($1.1865). 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 EUR/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: $1.1865-75, $1.1925, $1.1965

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

    EUR/USD continues testing MA 200 H1 08.09.2020

    Probably, the main scenario - may be continued growth to $1.1865 (Sep 4 high). Alternative scenario - probably final consolidation below MA 200 H1, followed by a decline to $1.1760 (Aug 27 low).

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