Technical analysis

Technical analysis

15 October 2021
  • 20:21

    NZD/USD is trading near a three-week high

    Today, the NZD/USD pair is trading mainly with an increase in the range of $0.7025-75 - about a three-week high. On the hourly chart, the pair fixed above the moving average line MA (200) H1 ($0.6955) and on the four-hour chart rose above MA (200) H4 ($0.7025). 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: $0.7065, $0.7090, $0.7135-55

    Support levels are: $0.7020, $0.6980, $0.6955


    The main scenario for the pair's promotion — breakout of the session high of $0.7065 and there may be an increase in the pair to $0.7090 (September 23 high)

    An alternative scenario — correction, and there may be a decline in the pair to $0.7020 (low of the American session on October 14)

  • 20:07

    USD/JPY rose to a new three-year high

    Today, the USD/JPY pair is growing from Y113.60 to Y114.40, reaching a new three-year high. The pair broke through the resistance of Y113.80, which became the closest support. On the hourly chart, the pair rose above the moving average line MA (200) H1 (Y112.60) and on the four-hour chart - above MA (200) H4 (Y110.80). 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 70 level, which signals a possible change in the direction of price movement.

    Resistance levels are: Y114.55, Y114.75, Y115.50

    Support levels are: Y113.80, Y113.00, Y112.60


    The main scenario for the pair's promotion — the pair may rise to Y114.55 (October 3’ 2018 high)

    An alternative scenario — support breakout is Y113.80 (October 12-13 high) and there may be a decline to Y113.00 (October 12 low)


  • 19:50

    USD/CHF remains below MA (200) H1

    Today, the USD/CHF pair is trading in the range of Chf0.9225-45 after falling yesterday to a monthly low of Chf0.9195. On the hourly chart, the pair remains below the moving average line MA (200) H1 (Chf0.9270) and on the four-hour chart it tests MA (200) H4 (Chf0.9240). Technically speaking, the level of MA (200) H1 (Chf0.9270) can keep prices from rising. If it breaks through, prices may rise to Chf0.9315. The lower bound of Chf0.9195 represents the support level. The most probable range of the pair's movement for today may be hidden within the range of Chf0.9195-0.9270.


    Resistance levels are: Chf0.9270, Chf0.9315, Chf0.9370

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


    The main scenario for the pair's promotion — correction and decline to Chf0.9195 (September 14 low)

    An alternative scenario — if the level of MA (200) H1 (Chf0.9270) is broken, the pair may rise to Chf0.9315 (October 12 high)


  • 19:32

    GBP/USD is trading near a three-week high

    Today, the GBP/USD pair is trading with an increase from $1.3665 to $1.3755, reaching a three-week high. On the hourly chart, the pair is fixed above the moving average line MA (200) H1 ($1.3625) and on the four-hour chart it is testing MA (200) H4 ($1.3695). In this situation, the scenario of further growth of the GBP/USD pair is likely. Finding a sell position can be a wise decision for those who want to take advantage of a stronger pound.


    Resistance levels are: $1.3810, $1.3855, $1.3915

    Support levels are: $1.3665, $1.3625, $1.3570

    The main scenario for the pair's promotion — the pair may rise to $1.3810 (September 17 high)

    An alternative scenario — correction, and may be a decline to the session low of $1.3665


  • 19:14

    EUR/USD is trading near a ten-day high

    Today, the EUR/USD pair is trading mainly with an increase in the range of $1.1590-$1.1625 - about a ten-day high, and on the hourly chart it rose above the MA (200) H1 moving average line ($1.1570). On the four-hour chart, EUR/USD remains below MA (200) H4 ($1.1710). Technically speaking, the resistance area of $1.1625-40 may keep prices from further growth. If it breaks through, prices may rise to $1.1690. The lower bound of $1.1575-85 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: $1.1625-40, $1.1690, $1.1725

    Support levels are: $1.1575-85, $1.1525, $1.1505

     

    The main scenario for promoting the pair  — the pair may grow to $1.1625-40 (October 4 and 14 highs)

    An alternative scenario — correction and there may be a decrease to $1.1575-85 (October 14 low, MA (200) H1)


  • 14:23

    USD/CAD is trading near 15-week low

    Yesterday, the USD/CAD was trading lower and closed the day in the red around the C$1.2370. Today it was trading in a narrow range of C$1.2355-80, staying close to the 15-week low. On the hourly chart, USD/CAD is still trading below the MA line (200) H1 (C$1.2505). 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$1.2355, C$1.2300, C$1.2200

    Probably, the main scenario is the continuation of the decline to C$1.2355 (session low). An alternative scenario is consolidation above MA (200) H1 with a subsequent rise to C$1.2735 (Oct 1 high).

  • 14:04

    AUD/USD is trading near 6-week high

    Yesterday the AUD/USD was trading higher and closed the day in positive territory around the $0.7415. Today it was trading in a narrow range of $0.7405-25, staying close to a 6-week high. On the hourly chart, AUD/USD is still trading above the MA line (200) H1 ($0.7320). 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: $0.7425, $0.7465-75, $0.7500

    • Support levels are at: $0.7370, $0.7325, $0.7290

    Probably, the main scenario is an upward movement to $0.7425 (Oct 14 high). Alternative scenario is consolidation below MA 200 H1, followed by a decline to $0.7170 (Sep 29 low).

  • 13:44

    Gold is trading near a 5-week high

    Yesterday, the XAU/USD was trading higher and closed the day in positive territory around $1796. Gold was trading in a tight range of $1793-96 today, staying close to a 5-week high. On the hourly chart, XAU/USD is still trading above the MA line (200) H1 ($1765). 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 to form a correction.

    • Resistances levels are at: $1800, $1806-08, $1814

    • Support levels are at: $1786, $1757, $1745

    Probably, the main scenario is an upward movement to $1800 (Oct 14 high). An alternative scenario is a final consolidation below the MA 200 H1, followed by a decline to $1722 (Sep 30 low).

  • 13:27

    Oil trades around October 2018 highs

    Brent crude traded higher yesterday and closed the day in positive territory around $84.45. Oil traded in a narrow range of $84.40-00 today, staying close to the highs of October 2018. On the hourly chart, Brent is still trading above the moving average MA (200) H1 ($82.90). 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).

  • 13:08

    USD/JPY continues to rise yesterday

    Yesterday the USD/JPY was trading higher and closed the day in positive territory around the Y113.65. It also rose today, climbing to Y113.95. On the hourly chart, USD/JPY is still trading above the MA line (200) H1 (Y112.45). 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: Y114.15, Y114.55, Y115.00

    • Support levels are at: Y113.30, Y113.00, Y112.20

    Probably, the main scenario is the continuation of the upward movement to Y114.15 (Nov 14 high, 2018). An alternative scenario is consolidation below MA 200 H1, followed by a decline to Y109.75 (Sep 23 low).

  • 12:37

    The USD/CHF continues to test the strength of the MA 200 H1 support

    Yesterday the USD/CHF traded in different directions in the range Chf0.9195-Chf0.9240 and closed the day without significant changes. Today it also traded in a narrow range of Chf0.9230-45, staying close to yesterday's closing price. On the hourly chart, USD/CHF is still testing its support - the MA (200) H1 (Chf0.9270) 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: Chf0.9250, Chf0.9295-10, Chf0.9335

    • Support levels are at: Chf0.9195, Chf0.9150-65, Chf0.9135

    Probably, the main scenario is a further rise to Chf0.9250 (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).

  • 12:29

    GBP/USD continues to test resistance MA 200 H1

    Yesterday the GBP/USD was trading higher and closed the day in positive territory around the $1.3670. Today it was trading in a narrow range of $1.3670-85, staying close to yesterday's closing price. On the hourly chart, GBP/USD continues to test the resistance - the MA (200) H1 ($1.3620) 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 adhering to the south direction in trading and until the pair 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: $1.3730, $1.3750-65, $1.3810

    • Support levels are at: $1.3630, $1.3590, $1.3530-45

    Probably, the main scenario is the continuation of the decline to $1.3630 (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).

  • 12:09

    EUR/USD is still testing the MA 200 H1 resistance

    Yesterday the EUR/USD traded in different directions in the range of $1.1585-$1.1625 and closed the day without significant changes. Today it rallied slightly, rising to $1.1610. On the hourly chart, EUR/USD is still testing resistance - the MA (200) H1 moving average line ($1.1570). On the four-hour chart, it remains below the MA 200 H4 line for now. Based on the foregoing, it is probably worth adhering to the south direction in trading and until the EUR/USD 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: $1.1625, $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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