Technical analysis

Technical analysis

16 September 2020
  • 20:11

    The NZD / USD pair rose to a two-week high

    Today, the NZD / USD pair is trading with an increase from $0.6700 to $0.6750, reaching a two-week high. On the hourly chart, the pair is trading above MA (200) H1 ($0.6685) and on the four - hour chart-above MA (200) H4 ($0.6640). A strong resistance level of $0.6790 may keep NZD / USD from rising further. If it breaks through, the price may rise to $0.6840. The $0.6680-0.6700 area represents support levels. If these levels are passed, the pair may follow a correction to $0.6640. The most likely range of price movement today may be hidden within the range of $1.6680-1.6750.


    Resistance levels are at: $0.6790, $0.6840, $0.6925

    Support levels are at: $0.6680-0.6700, $0.6640, $0.6600


    The main scenario for the pair's promotion - continuation of the upward movement to $0.6790 (high of July 18-22’ 2019 and September 2), and then, it is possible that the pair will grow to $0.6840 (April 1’ 2019 high)

    An alternative scenario - breakout of $0.6680-0.6700 (September 15 low, MA (200) H1, session low) and probable decline to $0.6640 (September 10-11 low)

    The NZD / USD pair rose to a two-week high 16.09.2020


  • 20:03

    The USD / JPY pair is trading near a one-month low

    Today, the USD/JPY pair continues to trade with a decline and fell to the psychological level of Y105.00. At the time of writing, the pair is trading near the August 19 low of (Y105.10). The pair is trading below the MA (200) H1 (Y106.00) moving average line. The situation is similar on the four-hour chart. The session low and psychological level of Y105. 00 kept the pair from further decline. If this level is passed, the pair may drop to Y104.75. The session high of Y105.40 represents resistance. If this level is passed, USD/JPY may follow a correction to Y106.00. The most likely range of movement of the pair today may be hidden within the range of Y105.00-80.

     

    Resistance levels are at: Y105.40, Y106.00, Y106.25-40

    Support levels are at:  Y104.75-105.00, Y104.15, Y103.10


    The main scenario for the pair's promotion - breakout of the session low Y105. 00, and likely decline to Y104. 75 (July 29 low)

    An alternative scenario - if the session maximum Y105.40 breaks, the pair is likely to grow to MA (200) H1 (Y106.00)

    The USD / JPY pair is trading near a one-month low 16.09.2020


  • 19:43

    USD / CHF remains below MA (200) H1


    Today, the USD/CHF pair is trading down from Chf0. 9095 to Chf0.9055, losing almost all the positions gained during yesterday's US trading. On the hourly chart, the pair remains below MA (200) H1 (Chf0. 9115). The situation is similar on the four-hour chart. A strong support level of Chf0. 9050 keeps USD / CHF from falling further. If it breaks through, the pair may decline to Chf0. 9000. Chf0. 9095-0.9115 represents the resistance level. If they are passed, USD/CHF may follow a correction to Chf0. 9160. The most likely range of movement of the pair today may be hidden within the range of Chf0. 9050-0.9115.



    Resistance levels are at:  Chf0.9095-0.9115, Chf0.9160, Chf0.9200

    Support levels are at: Chf0.9050, Chf0.9000, Chf0.8940


    The main scenario for the pair's promotion - break in support of Chf0. 9050 (September 10 low), and a likely decline to Chf0.9000 (September 1 low).

    An alternative scenario - breakout of the Chf0.9095-0.9115 area (September 11-14 highs, session high, MA (200) H1), and the pair's likely growth to Chf0.9160 (September 6 high).

    USD / CHF remains below MA (200) H1 16.09.2020


  • 19:27

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

    Today, the GBP / USD pair is trading with a slight increase in the range of $1.2870-1.2965, but remains near the lows of the end of July reached last week. On the hourly chart, the pair remains below the moving average line MA (200) H1 ($1.2985) and on the four - hour chart-below MA (200) H4 ($1.3115). A strong resistance level of $1.3035 may keep GBP / USD from rising further. If it breaks through, the price may rise to $1.3175. The session low of $1.2870 represents the support level. If this level is passed, the pair may follow a correction to $1.2760. The most likely range of price movement today may be hidden within the range of $1.2870-1.3035


    Resistance levels are at: $1.3035, $1.3175, $1.3320

    Support levels are at: $1.2870, $1.2760, $1.2720


    The main scenario for the pair's promotion - break of the session low of $1.2870 and a likely decline to $1.2760 (September 10-11 low)

    An alternative scenario -if the MA (200) H1 level ($1.2985) and the resistance of $1.3035 (September 10 high) are broken, the pair is likely to grow to $1.3175 (September 4 low, September 8 high)

    GBP / USD rose slightly, but remains below MA (200) H1 16.09.2020

  • 19:03

    EUR / USD is trading above MA (200) H1

    Today, the EUR / USD pair is trading with growth (from $1.1830 to $1.1880), regaining most of the positions lost during yesterday's us trading. The pair is trading above the MA (200) H1 moving average line ($1.1830). The situation is similar on the four-hour chart. A strong resistance level ($1.1900-20) may keep EUR/USD from further growth. If it breaks through, the price may rise to $1.1965. The session low and MA (200) H1 ($1.1830) represents the support level. If this level is passed, the pair may follow a correction to $1.1800. The most likely range of price movement today may be hidden within the range of $1.1800-1.1920.


    Resistance levels are at: $1.1900-20, $1.1965, $1.2010

    Support levels are at: $1.1830, $1.1800, $1.1750


    The main scenario for promoting the pair  - continuation of the upward movement to $1.1900-20 (September 10 and 15 highs) and then possible growth to $1.1965 (August 31 high)

    An alternative scenario - breakout of the session low and MA (200) H1 ($1.1830) and likely decline of the pair to $1.1800 (September 10 low)

    EUR / USD is trading above MA (200) H1 16.09.2020

  • 14:24

    USD/CAD remains above MA 200 H1

    Yesterday the USD/CAD traded in different directions in the range of С$1.3135-00 and closed the day without significant changes. Today it was trading in a narrow range of C$1.3170-00, staying close to yesterday's closing price. On the hourly chart, USD/CAD is still trading above the MA line (200) H1 (C$1.3155). 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 are at the levels: С$1.3205, С$1.3255, С$1.3295

    • Support are at the levels: C$1.3120, C$1.3090, C$1.3045

    USD/CAD remains above MA 200 H1 16.09.2020

    Probably, the main scenario - is continued growth to C$1.3205 (Sep 11 high). An alternative scenario - may be consolidation below MA (200) H1, followed by a decline to C$1.3045 (Sep 4 low).

  • 13:55

    AUD/USD remains above MA 200 H1

    Yesterday the AUD/USD was trading higher and closed the day in positive territory around the $0.7300. Today it rallied slightly, rising to $0.7320. On the hourly chart, AUD/USD is still trading above the MA line (200) H1 ($0.7275). 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 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: $0.7340, $0.7365, $0.7410

    • Support levels are at: $0.7270, $0.7250, $0.7195-05

    AUD/USD remains above MA 200 H1 16.09.2020

    Probably, the main scenario - is the continuation of the upward movement to $0.7340 (Sep 15 high). An alternative scenario - may be consolidation below MA 200 H1, followed by a decline to $0.7205 (low of the European session on Sep 9).

  • 13:51

    Gold remains above MA 200 H1

    The XAU/USD was trading lower yesterday and closed the day in the red around $1952. Gold is up slightly today, rising to $1960. On the hourly chart, XAU/USD is still trading above the moving average MA (200) H1 ($1940). 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 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: $1971, $1992, $2015

    • Support levels are at: $1937-39, $1920, $1906

    Gold remains above MA 200 H1 16.09.2020

    Probably, the main scenario - is the continuation of the upward movement to $1971 (Sep 2 high). An alternative scenario - may be consolidation below MA 200 H1, followed by a decline to $1920 (Sep 9 low).


  • 13:49

    Oil tests resistance MA 200 H1

    Brent crude was trading higher yesterday and closed the day in positive territory around $40.40. Oil is also slightly higher today, rising to $41.00. On the hourly chart, Brent is testing resistance - the MA (200) H1 moving average line ($41.00). On the four-hour chart, oil remains below the MA 200 H4 line. 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 a sell entry point at the end of the correction.

    • Resistances levels are at: $42.05, $42.80, $44.15

    • Support levels are at: $39.00-15, $36.90-15, $34.45

    Oil tests resistance MA 200 H1 16.09.2020

    Probably, the main scenario - is a subsequent decline to $39.15 (Sep 15 low). An alternative scenario -  consolidation above the MA 200 H1 with a subsequent rise to $44.15 (Sep 4 high).

  • 13:06

    USD/JPY continues to decline yesterday

    The USD/JPY was trading lower yesterday and closed the day in the red around the Y105.40. It also dropped slightly today, dropping to Y105.20. 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 adhering 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: Y105.50, Y105.80, Y106.00

    • Support levels are at: Y105.10-20, Y104.55, Y104.20

    USD/JPY continues to decline yesterday 16.09.2020

    Probably, the main scenario - is the continuation of the downward movement to Y105.20 (Aug 28 low). An alternative scenario - final consolidation above MA 200 H1, followed by a rise to Y106.35 (Sep 8 high).

  • 12:47

    USD/CHF remains below MA 200 H1

    Yesterday the USD/CHF traded in different directions in the range of Chf0.9050-85 and closed the day without significant changes. Today it also traded in a narrow range of Chf0.9075-95, staying close to yesterday's closing price. On the hourly chart, USD/CHF is still trading below the moving average MA (200) H1 (Chf0.9115). The situation is similar on the four-hour chart. Based on the foregoing, it is probably worth adhering to the south direction in trading and while the USD/CHF remains below MA 200 H1, it may be necessary to look for a sell entry point to form a correction.

    • Resistances levels are at: Chf0.9105-15, Chf0.9135, Chf0.9190-00

    • Support levels are at: Chf0.9050, Chf0.9000, Chf0.8900

    USD/CHF remains below MA 200 H1 16.09.2020

    Probably, the main scenario - is a subsequent decline to Chf0.9050 (Sep 15 low). Alternative scenario - may be consolidation above MA 200 H1, with further advance towards Chf0.9190 (Sep 9 high).

  • 12:22

    GBP/USD remains below MA 200 H1

    Yesterday the GBP/USD was trading higher and closed the day in positive territory around the $1.2885. Today it was trading in a narrow range of $1.2875-15, staying close to yesterday's closing price. On the hourly chart, GBP/USD is still trading below the MA (200) H1 ($1.3000) moving average line. The situation is similar on the four-hour chart. Based on the foregoing, it is probably worth adhering 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: $1.2980, $1.3035, $1.3160-80

    • Support levels are at: $1.2815, $1.2765, $1.2720

    GBP/USD remains below MA 200 H1 16.09.2020

    Probably, the main scenario - is a continuation of the decline to $1.2815 (Sep 15 low). An alternative scenario - may be consolidation above the MA 200 H1 level with a subsequent rise to $1.3160 ​​(Sep 8 high).

  • 12:02

    EUR/USD remains above MA 200 H1

    Yesterday the EUR/USD was trading lower and closed the day in the red around the $1.1845. Today it was trading in a narrow range of $1.1830-45, staying close to yesterday's closing price. On the hourly chart, EUR/USD is still trading above the MA line (200) H1 ($1.1830). 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 EUR/USD 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: $1.1900-15, $1.1965, $1.2010

    • Support levels are at: $1.1800-10, $1.1755, $1.1710

    EUR/USD remains above MA 200 H1 16.09.2020

    Probably, the main scenario - is continued growth to $1.1900 (Sep 15 high). An alternative scenario -  may be consolidation below MA 200 H1, followed by a decline to $1.1755 (Sep 9 low).

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