Technical analysis

Technical analysis

14 October 2021
  • 20:00

    NZD/USD rose to a three-week high

    Today, the NZD/USD pair rose sharply from $0.6965 to $0.7030, reaching a three-week high. The pair broke through the resistance of $0.6980, which became the closest support. On the hourly chart, the pair is fixed above the moving average line MA (200) H1 ($0.6940) and on the four-hour chart it is testing MA (200) H4 ($0.7020). In this situation, the scenario of further growth of the NZD/USD pair is likely. Finding a buy position can be a wise decision for those who want to take advantage of a stronger New Zealand dollar.


    Resistance levels are: $0.7090, $0.7135-55, $0.7170

    Support levels are: $0.6980, $0.6940, $0.6910


    The main scenario for the pair's promotion — the pair may rise to $0.7090 (September 23 high)

    An alternative scenario — correction, and there may be a decline in the pair to $0.6980 (October 4 high)

  • 19:45

    USD/JPY is trading near a near three-year high

    Today, the USD/JPY pair is trading in the Y113.29-60 range - near an almost three-year high. On the hourly chart, the pair rose above the moving average line MA (200) H1 (Y112.25) and on the four-hour chart - above MA (200) H4 (Y110.70). In this situation, the scenario of further growth of the USD/JPY pair is likely. 

    Although it is worth noting that the 14-day relative strength index (RSI (14) on D1) is above the level of 70, which signals a possible change in the direction of price movement.

    Resistance levels are: Y113.80, Y114.05-15, Y114.55

    Support levels are: Y113.00, Y112.15-25, Y111.50


    The main scenario for the pair's promotion — resistance breakout is Y113.80 (October 12-13 high) and there may be an increase to Y114.05-15 (November 8-13 and 28’ 2018 and December 3’ 2018)

    An alternative scenario — support breakout is Y113.00 (October 12 low) and there may be a decline to Y112.15-25 (October 11 low, MA (200) H1)


  • 19:39

    USD/CHF dropped to a monthly low

    Today, the USD/CHF pair is trading with a decrease from Chf0.9245 to a monthly low of Chf0.9195 and on the hourly chart it is fixed below the MA (200) H1 moving average line (Chf0.9275). On the four-hour chart, the pair dropped below MA (200) H4 (Chf0.9235). In this situation, a scenario of further decline of the USD/CHF pair is likely. Finding a position to sell can be a wise decision for those who want to take advantage of a stronger Swiss franc.



    Resistance levels are: Chf0.9245, Chf0.9275, Chf0.9315

    Support levels are: Chf0.9195, Chf0.9165,  Chf0.9130


    The main scenario for the pair's promotion — breakout of the session minimum of Chf0.9195 and there may be a decline to Chf0.9165 (September 15 low)

    An alternative scenario — correction, and there may be an increase to the session maximum of Chf0.9245


  • 19:28

    GBP/USD rose to a three-week high

    Today, the GBP/USD pair is trading mainly with an increase from $1.3660 to $1.3735, reaching an almost three-week high. On the hourly chart, the pair is fixed above the moving average line MA (200) H1 ($1.3610) and on the four-hour chart it is testing MA (200) H4 ($1.3700). Technically speaking, the resistance of $1.3735-50 may keep prices from further growth. If it breaks through, prices may rise to $1.3810. The lower bound of $1.3660 represents the support level. The most likely range of the pair's movement for today may be hidden within the range of $1.3660-1.3750.



    Resistance levels are: $1.3735-50, $1.3810, $1.3855

    Support levels are: $1.3660, $1.3610, $1.3570

    The main scenario for the pair's promotion —if the resistance of $1.3735-50 (September 23-24 highs, session high) is broken, then the pair may rise to $1.3810 (September 17 high)

    An alternative scenario — correction, and may be a decline to the session low of $1.3660


  • 19:15

    EUR/USD rose to a weekly high

    Today, the EUR/USD pair is trading with an increase from $1.1590 to a weekly high of $1.1625 and on the hourly chart has risen above the MA (200) H1 moving average line ($1.1575). On the four-hour chart, EUR/USD remains below MA (200) H4 ($1.1715). Technically speaking, the resistance of $1.1640 may keep prices from rising further. If it breaks through, prices may rise to $1.1690. The lower bound of $1.1575-90 represents the support level. The most likely range of the pair's movement for today may be hidden within the range of $1.1575-1.1640.

    Resistance levels are:  $1.1640, $1.1690, $1.1725

    Support levels are: $1.1575-90, $1.1525, $1.1505

     

    The main scenario for promoting the pair  — the pair may rise to $1.1640 (October 4 high)

    An alternative scenario — correction, and may be a decline to $1.1575-90 (October 7-12 high, session low of MA (200) H1)


  • 14:18

    The USD/CAD continues yesterday's decline

    Yesterday, the USD/CAD was trading lower and closed the day in the red around the C$1.2435. It also dropped slightly today, dropping to C$1.2425. On the hourly chart, USD/CAD is still trading below the moving average MA (200) H1 (C$1.2535). 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$1.2470, С$1.2520, С$1.2560

    • Support levels are at: C$1.2425, C$1.2300, C$1.2200

    Probably, the main scenario is a continuation of the decline to C$1.2425 (session low). An alternative scenario is consolidation above MA (200) H1 with a subsequent rise to C$1.2735 (Oct 1 high).

  • 14:01

    AUD/USD is trading near a 5-week high

    Yesterday the AUD/USD was trading higher and closed the day in positive territory around the $0.7380. Today it was trading in a narrow range of $0.7370-95, staying close to a 5-week high. On the hourly chart, AUD/USD is still trading above 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 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: $0.7395-05, $0.7465-75, $0.7500

    • Support levels are at: $0.7325, $0.7290, $0.7270

    Probably, the main scenario is an upward movement to $0.7395 (session high). Alternative scenario is consolidation below MA 200 H1, followed by a decline to $0.7170 (Sep 29 low).

  • 13:36

    Gold has consolidated above MA 200 H1

    Yesterday, the XAU/USD was trading higher and closed the day in positive territory around $1791. Today gold was trading in a narrow range of $1786-93, staying close to yesterday's closing price. On the hourly chart, XAU/USD is still trading above the moving average MA (200) H1 ($1761). 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 XAU/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: $1796, $1806-08, $1814

    • Support levels are at: $1757, $1745, $1735

    Probably, the main scenario is an upward movement to $1796 (Oct 13 high). An alternative scenario is a final consolidation below the MA 200 H1, followed by a decline to $1722 (Sep 30 low).


  • 13:23

    Oil remains above MA 200 H1

    Yesterday, Brent crude was traded in different directions in the range of $82.60-$84.05 and closed the day without significant changes. Oil was also trading in a narrow range of $83.30-$84.15 today, staying close to yesterday's closing price. On the hourly chart, Brent is still trading above the moving average MA line (200) H1 ($82.30). 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: $85.00, $86.00, $87.00

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

    Probably, the main scenario is a subsequent rise to $85.00 (Oct 11 high). An alternative scenario is consolidation below MA 200 H1, followed by a decline to $75.70 (Sep 23 low).

  • 13:07

    USD/JPY is trading near December 2018 highs

    Yesterday, the USD/JPY was trading lower and closed the day in the red around the Y113.25. Today it was trading in a narrow range of Y113.25-55, staying near the highs of December 2018. On the hourly chart, USD/JPY is still trading above the moving average MA (200) H1 (Y112.15). 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: Y113.80, Y114.00, Y115.00

    • Support levels are at: Y113.00, Y112.20, Y111.50

    Probably, the main scenario is the continuation of the upward movement to Y113.80 (Oct 12 high). An alternative scenario is consolidation below MA 200 H1, followed by a decline to Y109.75 (Sep 23 low).

  • 12:46

    The USD/CHF is testing the strength of the MA 200 H1 support

    Yesterday, the USD/CHF was trading lower and closed the day in the red around the Chf0.9240. Today it was trading in a narrow range of Chf0.9235-45, staying close to yesterday's closing price. On the hourly chart, USD/CHF is testing its support - the MA (200) H1 (Chf0.9275) 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: Chf0.9295-10, Chf0.9335, Chf0.9365

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

    Probably, the main scenario is a further rise to Chf0.9295 (high of the American session on Oct 13). Alternative scenario is consolidation below MA 200 H1, followed by a decline towards Chf0.9130 (Sep 7 low).

  • 12:43

    The GBP/USD continues to test the MA 200 H1 resistance

    Yesterday the GBP/USD was trading higher and closed the day in positive territory around $1.3655. Today it was trading in a narrow range of $1.3655-70, staying close to yesterday's closing price. On the hourly chart, GBP/USD is testing resistance - the MA (200) H1 ($1.3605) moving average line. On the four-hour chart, it 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: $1.3670, $1.3715, $1.3750-65

    • Support levels are at: $1.3590, $1.3530-45, $1.3415-35

    Probably, the main scenario is the continuation of the decline to $1.3590 (low of the American session on Oct 13). An alternative scenario is consolidation above the MA 200 H1 level with a subsequent rise to $1.3810 (Sep 17 high).

  • 12:13

    The EUR/USD is testing the MA 200 H1 resistance

    Yesterday the EUR/USD was trading higher and closed the day in positive territory around the $1.1595. Today it was trading in a narrow range of $1.1590-00, staying close to yesterday's closing price. On the hourly chart, EUR/USD is testing resistance - the MA (200) H1 ($1.1570) moving average line. On the four-hour chart, it 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 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: $1.1570, $1.1525-35, $1.1505

    Probably, the main scenario is the continuation of the decline to $1.1570 (low of the American session on Oct 13). 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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