Technical analysis

Technical analysis

11 October 2021
  • 20:05

    NZD/USD is testing MA (200) H1

    Today, the NZD/USD pair is trading in the range of $0.6915-55 and is testing the MA (200) H1 moving average line ($0.6925) on the hourly chart. On the four-hour chart, the pair remains below MA (200) H4 ($0.7020). Technically speaking, the area of $0.6960-80 can 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 $0.6910-80.


    Resistance levels are: $0.6960-80, $0.7035, $0.7090

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


    The main scenario for the pair's promotion — correction, support breakout of $0.6910 (October 7-8 low) and there may be a decline to $0.6860-75 (September 29-30, October 1 and 6 low)

    An alternative scenario — if the area of $0.6960-80 (October 4-5 and 8 highs) is broken, then the pair may rise to $0.7035 (September 27 high)


  • 19:47

    USD/JPY rose to the highs of the end of December 2018

    Today, the USD/JPY pair is trading with an increase from Y112.15 to Y113.05, reaching the highs of the end of December 2018. On the hourly chart, the pair rose above the moving average line MA (200) H1 (Y111.55) and on the four-hour chart, the pair rose above MA (200) H4 (Y110.40). In this situation, the scenario of further growth of the USD/JPY pair is likely. Finding a buy position can be a wise decision for those who want to take advantage of a stronger US dollar.

    Resistance levels are:  Y113.05, Y113.70, Y114.05

    Support levels are: Y112.15, Y111.50, Y111.20


    The main scenario for the pair's promotion — breakout of the session maximum of Y113.05 and there may be an increase to Y113.70 (December 13-14’ 2018 high)

    An alternative scenario — correction and may be a decrease to the session minimum of Y112.15


  • 19:27

    USD/CHF dropped slightly below MA (200) H1

    Today, the USD/CHF pair is trading in the range of Chf0.9260-90 and on the hourly chart fell slightly below the MA (200) H1 moving average line (CHF0.9290). On the four-hour chart, the pair remains above MA (200) H4 (CHF0.9225). Technically speaking, the support of Chf0.9250 can keep prices from falling. The upper bound of Chf0.9305-10 represents the resistance level. The most probable range of the pair's movement for today may be hidden within the range of Chf0.9250-0.9310.


    Resistance levels are: Chf0.9305-10, Chf0.9340, Chf0.9370

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


    The main scenario for the pair's promotion — correction and there may be an increase to Chf0.9305-10 (October 4, 6 and 8 highs)

    An alternative scenario — if the support of Chf0.9250 (October 7 low) is broken, then the pair will fall to Chf0.9215-30 (September 22-24 and October 4 lows)


  • 19:16

    GBP/USD is trading above MA (200) H1

    Today, since the beginning of trading, the GBP/USD pair has risen from $1.3605 to $1.3675, but during the European session it declined, losing almost all the positions gained. On the hourly chart, the pair rose above the moving average line MA (200) H1 ($1.3560), but on the four-hour chart it remains below MA (200) H4 ($1.3705). Technically speaking, the area of $1.3560-85 may keep prices from further decline. If it breaks through, prices may drop to $1.3530. The upper limit of $1.3675 represents the resistance level. The most likely range of the pair's movement for today may be hidden within the range $1.3560-1.3675.


    Resistance levels are: $1.3675, $1.3730-50, $1.3810

    Support levels are: $1.3560-85, $1.3530, $1.3410

    The main scenario for the pair's promotion — the pair may decline to $1.3560-85 (October 7-8 lows, MA (200) H1)

    An alternative scenario — if the session high of $1.3675 is broken, the pair may rise to $1.3730-50 (September 23-27 highs)



  • 18:57

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

    Today, the EUR/USD pair is trading in the range of $1.1550-80 - slightly above the low of the end of July 2020 ($1.1530) reached last week. On the hourly chart, the pair fell below the moving average line MA (200) H1 ($1.1590) and on the four-hour chart - below MA (200) H4 ($1.1735). 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: $1.1590, $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 resistance of $1.1590 (October 8 high, session maximum, MA (200) H1) is broken, then the pair may rise to $1.1640 (October 4-5 high)


  • 14:16

    USD/CAD is trading near 11-week low

    On Friday, the USD/CAD was trading lower and closed the day in the red around the C$1.2470. Today it was trading in a narrow range of C$1.2450-85, staying close to the 11-week low. On the hourly chart, USD/CAD is still trading below the moving average MA (200) H1 (C$1.2625). 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$1.2560, С$1.2600, С$1.2645-55

    Support levels are at: С$1.2450, С$1.2425, С$1.2300

    Probably, the main scenario is the continuation of the decline to C$1.2450 (session low). An alternative scenario is consolidation above MA (200) H1, followed by growth to C$1.2845 (Sep 21 high).

  • 14:02

    AUD/USD remains above MA 200 H1

    On Friday, the AUD/USD traded in different directions in the range of $0.7290-$0.7335 and closed the day without significant changes. Today it rallied slightly, rising to the level of $0.7330. 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 to form a correction.

    • Resistances levels are at: $0.7335-45, $0.7370-75, $0.7405

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

    Probably, the main scenario is an upward movement to $0.7335 (Oct 8 high). Alternative scenario is consolidation below MA 200 H1, followed by a decline to $0.7170 (Sep 29 low).

  • 13:35

    Gold continues to test the MA 200 H1 resistance

    On Friday, the XAU/USD traded in different directions in the range of $1753-$1781 and closed the day without significant changes. Gold also traded in a narrow range of $1751-60 today, staying close to Friday's close. On the hourly chart, XAU/USD continues to test resistance - the moving average MA (200) H1 ($1752). On the four-hour chart, gold remains below the MA 200 H4 line for now. 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 at the end of the correction.

    • Resistances levels are at: $1781, $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 MA 200 H1 with a subsequent rise to $1808 (Sep 14 high).

  • 13:26

    Oil trades around October 2018 highs

    On Friday, Brent crude was traded in different directions in the range of $82.45-$83.90 and closed the day without significant changes. Today oil is slightly higher, rising to the level of $84.20. On the hourly chart, Brent is still trading above the moving average MA line (200) H1 ($80.75). 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 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: $84.20, $85.00, $86.00

    • Support levels are at: $82.45, $79.35-60, $76.90-25

    Probably, the main scenario is a subsequent rise to $84.20 (session high). An alternative scenario is consolidation below MA 200 H1 with a subsequent decline to $75.70 (Sep 23 low).

  • 12:56

    USD/JPY continues to rise on Friday

    On Friday, the USD/JPY was trading higher and closed the day in positive territory around the price of Y112.20. It also rose today, rising to the Y112.70 level. On the hourly chart, USD/JPY is still trading above the MA line (200) H1 (Y111.45). 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: Y113.00, Y114.00, Y115.00

    • Support levels are at: Y112.20, Y111.50, Y111.20-25

    Probably, the main scenario is the continuation of the upward movement to Y113.00 (psychological level). An alternative scenario is consolidation below MA 200 H1, followed by a decline to Y109.75 (Sep 23 low).

  • 12:48

    USD/CHF continues to test support for MA 200 H1

    On Friday, the USD/CHF was trading lower and closed the day in the red around the Chf0.9270. Today it rallied slightly, rising to Chf0.9285. On the hourly chart, USD/CHF is testing its support - the MA (200) H1 (Chf0.9295) 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).

  • 12:31

    GBP/USD continues to test resistance MA 200 H1

    On Friday, the GBP/USD traded in different directions in the range of $1.3585-55 and closed the day without significant changes. Today it rallied slightly, rising to $1.3655. On the hourly chart, GBP/USD is testing resistance - the MA (200) H1 ($1.3555) moving average line. On the four-hour chart, the GBP/USD remains below the MA 200 H4 line for now. 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 at the end of the correction.

    • Resistances levels are at: $1.3655, $1.3715, $1.3750-65

    • Support levels are at: $1.3585, $1.3530-45, $1.3415-35

    Probably, the main scenario is the continuation of the decline to $1.3585 (Oct 8 low). An alternative scenario is consolidation above the MA 200 H1 level with a subsequent rise to $1.3810 (Sep 17 high).

  • 12:12

    EUR/USD is still trading below MA 200 H1

    On Friday, the EUR/USD was trading higher and closed the day in positive territory around the $1.1570. Today it was trading in a narrow range of $1.1565-80, staying close to Friday's close. On the hourly chart, EUR/USD is still trading below the moving average MA (200) H1 ($1.1590). 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 at the end of the 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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