Technical analysis

Technical analysis

08 October 2021
  • 20:00

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

    Today, the NZD/USD pair is trading in the range of $0.6910-50 and is testing the MA (200) H1 moving average line ($0.6930) on the hourly chart. On the four-hour chart, the pair remains below MA (200) H4 ($0.7020). Technically speaking, the session high of $0.6950 may keep prices from further growth. The lower bound of $0.6910 represents the support level. The most probable range of the pair's movement for today may be hidden within the existing range of $0.6910-50.


    Resistance levels are: $0.6950, $0.6980, $0.7035

    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 — breakout of the session high of $0.6910 and there may be an increase to $0.6980 (October 4 high)


  • 19:49

    The USD/JPY pair is trading near the highs of February 2020

    Today, the USD/JPY pair is trading in the range Y111.60-112.00 - near the highs of February 2020. On the hourly chart, the pair is trading above the moving average line of MA (200) H1 (Y111.40) and on the four-hour chart, the pair is trading above MA (200) H4 (Y110.30). Technically speaking, the resistance of Y112.10 can keep prices from further growth. The lower bound of Y111.20-40 represents the support level. The most probable range of the pair's movement for today may be hidden within the range Y111.20-112.10.

     

    Resistance levels are:  Y112.00-10, Y112.25, Y112.40

    Support levels are: Y111.20-40, Y110.80, Y110.25


    The main scenario for the pair's promotion — if the resistance of Y112.00-10 (September 29-30 high, session maximum) is broken, then the pair may rise to Y112.25 (February 20’ 2020 high)

    An alternative scenario — correction and may be a decrease to Y111.20-40 (October 6-7 low, MA (200) H1)


  • 19:35

    USD/CHF is testing MA (200) H1

    Today, the USD/CHF pair is trading in the range of Chf0.928500.9305 and is testing the MA (200) H1 moving average line (CHF0.9295) on the hourly chart. On the four-hour chart, the pair remains above MA (200) H4 (CHF0.9220). Technically speaking, the resistance of Chf0.9310 can keep prices from rising. The lower bound of Chf0.9250 represents the support level. The most probable range of the pair's movement for today may be hidden within the existing range of Chf0.9250-0.9310.


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

    Support levels are:  Chf0.9250, Chf0.9215-30,  Chf0.9165


    The main scenario for the pair's promotion — if the resistance of Chf0.9310 (October 4 and 6 high) is broken, then the pair may rise to Chf0.9340 (October 1 high)


    An alternative scenario — it is possible to reduce the pair to Chf0.9250 (October 7 low)

  • 19:24

    GBP/USD rose slightly above MA (200) H1

    Today, the GBP/USD pair is trading in the range of $1.3580-1.3640 and on the hourly chart has risen slightly above the MA (200) H1 moving average line ($1.3555). On the four-hour chart, the pair remains below MA (200) H4 ($1.3710). Technically speaking, a strong resistance level of $1.3650 may keep prices from rising further. If it breaks through, prices may rise to $1.3715. The lower bound of $1.3530-55 represents the support 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: $1.3530-55, $1.3410, $1.3305

    The main scenario for the pair's promotion — correction and may be a decline to $1.3530-55 (October 4 and 6 lows, MA (200) H1)

    An alternative scenario — if the resistance of $1.3650 (October 5 high) is broken, then the pair may rise to $1.3715 (September 28 high)

  • 19:14

    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 $1.1540-70 - slightly above the low of the end of July 2020 ($1.1530) reached on Wednesday. On the hourly chart, the pair fell below the moving average line MA (200) H1 ($1.1600) and on the four-hour chart - below MA (200) H4 ($1.1740). 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: $1.1600, $1.1640, $1.1705

    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 — if the level of MA (200) H1 ($1.1600) is broken, the pair may rise to $1.1640 (October 4 high)


  • 14:20

    USD/CAD is trading near a 5-week low

    Yesterday, the USD/CAD was trading lower and closed the day in the red around the C$1.2545. Today it was trading in a narrow range of $1.2535-60, staying close to a 5-week low. On the hourly chart, USD/CAD is still trading below the moving average MA line (200) H1 (C$1.2640). 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$1.2600, С$1.2645-55, С$1.2735

    • Support levels are at: C$1.2520, C$1.2495, C$1.2475

    Probably, the main scenario is the continuation of the decline to C$1.2520 (Sep 7 low). An alternative scenario is consolidation above MA (200) H1 with a subsequent rise to C$1.2845 (Sep 21 high).

  • 14:20

    AUD/USD is trading near 3-week high

    Yesterday the AUD/USD was trading higher and closed the day in positive territory around the $0.7310. Today it was trading in a narrow range of $0.7305-25, staying close to a 3-week high. On the hourly chart, AUD/USD is still trading above the MA line (200) H1 ($0.7260). 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 AUD/USD 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: $0.7325, $0.7345, $0.7370-75

    • Support levels are at: $0.7270-75, $0.7225, $0.7190

    Probably, the main scenario is an upward movement to $0.7325 (Oct 7 high). Alternative scenario is consolidation below MA 200 H1, followed by a decline to $0.7170 (Sep 29 low).


  • 13:41

    Gold continues to test resistance MA 200 H1

    The XAU/USD was trading lower yesterday and closed the day in the red around $1755. Today gold was trading in a narrow range of $1753-60, staying close to yesterday's closing price. On the hourly chart, XAU/USD is testing resistance - the MA (200) H1 moving average line ($1751). 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 pair's advance is a downtrend to $1745 (Oct 6 low). An alternative scenario is a final consolidation above the MA 200 H1 with a subsequent rise to $1808 (Sep 14 high).

  • 13:27

    Oil trades around October 2018 highs

    Brent crude traded higher yesterday and closed the day in positive territory around $82.95. Crude oil traded in a narrow range of $82.85-55 today, staying close to the October 2018 highs. On the hourly chart, Brent is still trading above the moving average MA (200) H1 ($80.25). 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: $84.00, $85.00, $86.00

    • Support levels are at: $79.35-60, $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).

  • 13:02

    USD/JPY continues to rise yesterday

    Yesterday the USD/JPY was trading higher and closed the day in positive territory around the Y111.60. Today it rallied slightly, rising to Y111.90. On the hourly chart, USD/JPY is still trading above the MA line (200) H1 (Y111.40). 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: Y111.20-25, Y110.80-85, Y110.55

    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 Y109.75 (Sep 23 low).

  • 12:37

    USD/CHF continues to test support for MA 200 H1

    Yesterday the USD/CHF traded in different directions in the range of Chf0.9255-90 and closed the day without significant changes. Today it also traded in a narrow range of Chf0.9285-95, 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: Chf0.9255, Chf0.9225-30, Chf0.9195

    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).

  • 12:20

    The 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 $1.3615. Today it was trading in a narrow range of $1.3605-20, staying close to yesterday's closing price. On the hourly chart, GBP/USD is testing resistance - the MA (200) H1 ($1.3560) moving average line. On the four-hour chart, the GBP/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 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: $1.3530-45, $1.3415-35, $1.3305

    Probably, the main scenario is a continuation of the decline to $1.3545 (Oct 6 low). An alternative scenario is consolidation above the MA 200 H1 level with a subsequent rise to $1.3810 (Sep 17 high).

  • 12:02

    EUR/USD is trading near July 2020 lows

    Yesterday the EUR/USD traded in different directions in the range of $1.1550-70 and closed the day without significant changes. Today it also traded in a narrow range of $1.1550-60, staying near the lows of July 2020. On the hourly chart, EUR/USD is still trading below the moving average MA (200) H1 ($1.1605). 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 entry points to sell on 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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