Technical analysis

Technical analysis

09 September 2020
  • 20:12

    NZD / USD rose slightly, but remains below MA (200) H1

    Today, the NZD / USD pair is trading with a slight increase in the range from $0.6600-40, retreating from the weekly low. The pair is trading below the moving average line of MA (200) H1 ($0.6710), and is testing MA (200) H4 ($0.6630) on the four-hour chart. In this situation, it is probably worth continuing to stick to the North direction in trading, and it may be worth considering buying during the correction. The most likely range of movement of the pair today can be hidden within the range of $0.6600-0.6710.


    Resistance levels are at: $0.6705-35, $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 $0.6705-35 (September 4 and 8 highs, 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 $0.6600 (August 27 low, session low) and likely decline to $0.6540 (August 26 low)

    NZD / USD rose slightly, but remains below MA (200) H1 09.09.2020


  • 19:58

    USD/JPY is testing the MA (200) H1

    During European trading, the USD / JPY pair rose to Y106.15, after falling from the beginning of the session to a weekly low of Y105.80. The pair again rose slightly above the moving average line of MA (200) H1 (Y106.05) and MA (200) H4 (Y105.90). A strong resistance level of Y106. 40-55 (September 3-8 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 Y105.60 represents a strong support level. If this level is passed, USD/JPY may follow a correction to Y104.75. The most likely range of movement of the pair today may be hidden within the range Y105.80-106.55.


    Resistance levels are at: Y106.40-55, Y106.95-107.05, Y107.50

    Support levels are at: Y105.60-80, Y105.10-20, Y104.75


    The main scenario for the pair's promotion - if the support breaks through Y105.60-80 (September 1 low, session low), the pair is likely to decline to Y105. 10-20 (August 19 and 28 lows).

    An alternative scenario - if strong resistance breaks through Y106.40-55 (September 3-8 highs), it is likely to rise to Y106.95-107.05 (August 12-14 and 28 highs)

    USD/JPY is testing the MA (200) H1 09.09.2020


  • 19:43

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

    Today, the USD/CHF pair is trading in a narrow range of Chf0. 9170-90, slightly below the almost one-month high (Chf0.9200) reached yesterday. A strong resistance level of Chf0. 9200 (maximum on August 12 and September 8) keeps USD / CHF from further growth. If it breaks through, the pair may soar to Chf0. 9240 (maximum on August 3). The lower bound of Chf0. 9155 (September 8 minimum) represents the support level. If this level is passed, USD/CHF may follow a correction to Chf0. 9105-20. The most likely range of movement of the pair today may be hidden within the range of Chf0. 9155-0.9200.


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

    Support levels are at: Chf0.9155, Chf0.9105-20, Chf0.9080


    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. 9155 (September 8 low), the pair is likely to decline to Chf0.9105-20 (September 7 low, MA (200) H1).

    USD/CHF is trading near a near one-month high 09.09.2020

  • 19:26

    GBP / USD is trading near a six-week low

    Today, the GBP / USD pair continues to trade mostly lower, reaching a nearly six-week low of $1.2920. On the hourly chart, the pair is trading below the moving average line of MA (200) H1 ($1.3255) and on the four-hour chart it has fallen below MA (200) H4 ($1.3120), 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 selling during the correction.

    Resistance levels are at: $1.3050, $1.3165, $1.3255

    Support levels are at: $1.2910, $1.2835, $1.2720


    The main scenario for the pair's promotion -a break in the support of $1.2910 (July 29 low) and a likely decline in the pair to $1.2885 (July 28 low).

    An alternative scenario - if the resistance breaks $1.3050 (August 21-25 low, high of the s session on September 8), the pair is likely to grow to $1.3165 (September 8 high)

    GBP / USD is trading near a six-week low 09.09.2020


  • 19:06

    EUR / USD is trading near a three-week low, below MA (200) H1

    Today, the EUR / USD pair is trading in the range of $1.1755-85 and is trying to break through the strong support level of $1.1755 (August 21 minimum). On the hourly chart, the pair is trading below the moving average line MA (200) H1 ($1.1860), and on the four-hour chart it has fallen below MA (200) H4 ($1.1820), indicating that the pair is likely to fall under the control of bears. A strong support level ($1.1755) may keep EUR/USD from falling further. If it breaks through, the price may fall to $1.1695-1.1710. The session high represents the $1.1785 resistance level. If this level is passed, the pair may follow a correction to $1.1830. The most likely range of movement in oil prices today may be hidden within the existing range of $1.1755-85.

    Resistance levels are at: $1.1785, $1.1830, $1.1860-65

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


    The main scenario for promoting the pair  -breakout of the session low of $1.1755 (August 21 low) and the pair's likely decline to $1.1695-1.1710 (August 3 and 12 lows)

    An alternative scenario - break of the session high of $1.1785 and the pair's likely growth to $1.1830 (September 8 high)

    EUR / USD is trading near a three-week low, below MA (200) H1 09.09.2020

  • 14:24

    USD/CAD is trading near 4-week high

    Yesterday the USD/CAD was trading higher and closed the day in positive territory around the C$1.3235. Today it was trading in a narrow range of C$1.3225-55, remaining close to the 4-week high. On the hourly chart, USD/CAD is still trading above the MA line (200) H1 (C$1.3090). On the four-hour chart, it remains below the MA 200 H4 line. Based on the above, it is probably worth sticking to the northern direction in trading, and while the USD/CAD remains above MA 200 H1, it may be necessary to look for buy entry points to form a correction.

    • Resistances levels are at: С$1.3255, С$1.3295, С$1.3345

    • Support levels are at: C$1.3170, C$1.3090, C$1.3045

    USD/CAD is trading near 4-week high 09.09.2020

    Probably, the main scenario - is continued growth to C$1.3255 (session high). An alternative scenario - may be consolidation below MA (200) H1, followed by a decline to C$1.2995 (Sep 1 low).

  • 13:55

    AUD/USD consolidated below MA 200 H1

    Yesterday the AUD/USD was trading lower and closed the day in the red around the $0.7200. Today it was trading in a narrow range of $0.7195-20, remaining close to yesterday's closing price. On the hourly chart, AUD/USD has broken through and consolidated below the MA line (200) H1 ($0.7305). 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 AUD/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: $0.7260, $0.7305, $0.7365

    • Support levels are at: $0.7195, $0.7150, $0.7130

    AUD/USD consolidated below MA 200 H1 09.09.2020

    Probably, the main scenario - is the continuation of the downward movement to $0.7195 (session low). Alternative scenario - may be consolidation above MA 200 H1 with a subsequent rise to $0.7365 (high of the European session on Sep 2).

  • 13:44

    Gold trades below MA 200 H1

    Yesterday the XAU/USD traded in different directions in the range of $1906-40 and closed the day without significant changes. Today gold was trading in a narrow range of $1925-35, staying close to yesterday's closing price. On the hourly chart, XAU/USD is still trading below the moving average MA (200) H1 ($1947). 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 XAU/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: $1947-50, $1971, $1992

    Support levels are at: $1907, $1903, $1875

    Gold trades below MA 200 H1 09.09.2020

    Probably, the main scenario - is a continuation of the decline to $1907 (Sep 8 low). An alternative scenario - may be final consolidation above the MA 200 H1 with a subsequent rise to $1971 (Sep 2 high).

  • 13:20

    Oil is trading near 12-week low

    Brent crude was trading lower yesterday and closed the day in the red around $39.50. Oil was trading in a narrow range of $39.00-50 today, staying close to a 12-week low. On the hourly chart, Brent is still trading below the moving average MA line (200) H1 ($44.10). 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 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: $40.35, $42.05, $42.80

    • Support levels are at: $38.95, $36.90-15, $34.45

    Oil is trading near 12-week low 09.09.2020

    Probably, the main scenario - is a subsequent decline to $38.95 (Sep 8 low). An alternative scenario - may be consolidation above MA 200 H1 with a subsequent rise to $45.25 (high of the American session on Sep 2).

  • 13:01

    USD/JPY is trading below MA 200 H1 again

    The USD/JPY was trading lower yesterday and closed the day in the red around the Y105.95. Today it was trading in a narrow range of Y105.80-00, staying close to yesterday's closing price. On the hourly chart, USD/JPY is still trading below the MA line (200) H1 (Y106.05). 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/JPY remains below MA 200 H1, it may be necessary to look for a sell entry point to form a correction.

    • Resistances levels are at: Y106.45-55, Y106.90-00, Y107.35

    • Support levels are at: Y105.80, Y105.60, Y105.20-30

    USD/JPY is trading below MA 200 H1 again 09.09.2020

    Probably, the main scenario - is the continuation of the downward movement to Y105.80 (Sep 1 low). An alternative scenario - may be final consolidation above MA 200 H1, followed by a rise to Y106.90 (Aug 28 high).

  • 12:48

    USD/CHF is trading near 5-week high

    Yesterday the USD/CHF traded in different directions in the range of Chf0.9155-00 and closed the day without significant changes. Today it was trading in a narrow range of Chf0.9175-85, staying close to a 5-week high. On the hourly chart, USD/CHF is still trading above the MA line (200) H1 (Chf0.9100). 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 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: Chf0.9200, Chf0.9240, Chf0.9260

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

    USD/CHF is trading near 5-week high 09.09.2020

    Probably, the main scenario - is a further rise to Chf0.9200 (Sep 8 high). An alternative scenario - may be consolidation below the MA 200 H1 level, followed by a decline to Chf0.9055 (low of the American session on Sep 1).

  • 12:33

    GBP/USD continues yesterday's decline

    Yesterday, the GBP/USD was trading lower and closed the day in the red around the $1.2975. It also dropped slightly today, dropping to $1.2945. On the hourly chart, GBP/USD is still trading below the moving average MA (200) H1 ($1.3265). 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 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: $1.3055, $1.3160-80, $1.3235

    • Support levels are at: $1.2945, $1.2910, $1.2840

    GBP/USD continues yesterday's decline 09.09.2020

    Probably, the main scenario - is the continuation of the decline to $1.2945 (session low). An alternative scenario - may be consolidation above the MA 200 H1 level with a subsequent rise to $1.3350 (Sep 3 high).

  • 12:09

    EUR/USD is trading near a 4-week low

    Yesterday the EUR/USD was trading lower and closed the day in the red zone around the price of $1.1775. Today it was trading in a narrow range of $1.1760-80, staying close to yesterday's closing price. On the hourly chart, EUR/USD has broken through and consolidated below the MA line (200) H1 ($1.1860). 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 a sell entry point to form a correction.

    • Resistances levels are at: $1.1825, $1.1865-75, $1.1925

    • Support levels are at: $1.1755-60, $1.1695-10, $1.1640

    EUR/USD is trading near a 4-week low 09.09.2020

    Probably, the main scenario - is the continuation of the decline to $1.1760 (session low). An alternative scenario - may be consolidation above MA 200 H1, followed by a rise to $1.1925 (Sep 2 high).

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