Technical analysis

Technical analysis

18 October 2021
  • 20:02

    NZD/USD retreated slightly from the monthly high


    Today, the NZD/USD pair dropped to $0.7050 after rising from the start of trading to a monthly high of $0.7105. On the hourly chart, the pair fixed above the moving average line MA (200) H1 ($0.6965) 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: $0.7105, $0.7135, $0.7170

    Support levels are: $0.7020, $0.6965-80, $0.6910


    The main scenario for the pair's promotion — breakout of the session high of $0.7105 and the pair may rise to $0.7135 (September 16 high)

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


  • 19:49

    USD/JPY is trading near a three-year high

    Today, the USD/JPY pair is trading in the range Y114.00-45 - about a three-year high. On the hourly chart, the pair rose above the moving average line MA (200) H1 (Y112.90) and on the four-hour chart - above MA (200) H4 (Y110.95). 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: Y114.45-55, Y114.75, Y115.50

    Support levels are: Y114.00, Y112.90-113.00, Y112.15


    The main scenario for the pair's promotion — resistance breakout is Y114.45 (October 3’ 2018 high and October 15 high, session high) and there may be an increase to Y114.75 (November 6’ 2017 high)

    An alternative scenario — breakout of the session minimum of Y114.00 and there may be a decline to Y112.90-113.00 (October 12 low, MA (200) H1)

  • 19:29

    USD/CHF tried to test the strength of MA (200) H1

    Today, the USD/CHF pair has grown from Chf0.9220-0.9275, but at the time of writing it has slightly decreased to Chf0.9250. On the hourly chart, the pair tried to break through the MA (200) H1 moving average line (Chf0.9265). On the four-hour chart, the pair remains slightly above 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 Chf0.9220 represents the support level. The most probable range of the pair's movement for today may be hidden within the range of Chf0.9220-75.


    Resistance levels are: Chf0.9265-75, Chf0.9315, Chf0.9370

    Support levels are: Chf0.9220, Chf0.9195,  Chf0.9165


    The main scenario for the pair's promotion — correction and decline to Chf0.9220 (October 15 low, session minimum)

    An alternative scenario — if the area of Chf0.9265-75 (session maximum, MA (200) H1) is broken, then the pair may rise to Chf0.9315 (October 12 high)


  • 19:06

    GBP/USD retreated slightly from the monthly high

    Today, the GBP/USD pair is trading with a decline from $1.3765 to $1.3715, circling from the monthly maximum ($1.3775) reached on Friday. On the hourly chart, the pair fixed above the moving average line MA (200) H1 ($1.3650) and on the four-hour chart - slightly above MA (200) H4 ($1.3695). In this situation, a scenario of further growth of the GBP/USD pair is likely after the correction ends.


    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 — growth to $1.3775 (October 15 high) and then maybe to $1.3810 (September 17 high)

    An alternative scenario — the pair may decline to $1.3640-65 (October 15 low, MA (200) H1)


  • 18:53

    EUR/USD remains above MA (200) H1

    Today, the EUR/USD pair is trading in the range of $1.1590-$1.1605 and remains above the MA (200) H1 moving average line ($1.1570) on the hourly chart. On the four-hour chart, EUR/USD is trading below MA (200) H4 ($1.1705). Technically speaking, the level of MA (200) H1 ($1.1570) keeps prices from further decline. If it breaks through, prices may drop to $1.1525. Upper bound $1.16-20-25 represents the support level. The most likely range of the pair's movement for today may be hidden within the range of $1.1570-1.1620.


    Resistance levels are: $1.1620-25, $1.1640, $1.1690

    Support levels are: $1.1570, $1.1525, $1.1505

     

    The main scenario for promoting the pair  — correction and there may be an increase in the pair to $1.1620-25 (October 14-15 highs)

    An alternative scenario — if the level of MA (200) H1 ($1.1570) is broken, the pair may fall to $1.1525 (October 12 low)


  • 14:15

    USD/CAD is trading near 15-week low

    Yesterday the USD/CAD traded in different directions in the range of С$1.2335-С$1.2400 and closed the day without significant changes. Today it was trading in a narrow range of C$1.2350-95, staying close to the 15-week low. On the hourly chart, USD/CAD is still trading below the moving average MA (200) H1 (C$1.2480). 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 a sell entry point for the formation of a correction.

    • Resistances levels are at: С$1.2470, С$1.2520, С$1.2560

    • Support levels are at: C$1.2335, C$1.2300, C$1.2200

    Probably, the main scenario is the continuation of the decline to C$1.2335 (Oct 15 low). An alternative scenario is consolidation above MA (200) H1, followed by growth to C$1.2735 (Oct 1 high).

  • 14:07

    AUD/USD remains above MA 200 H1

    On Friday, the AUD/USD traded in different directions in the range of $0.7405-$0.7440 and closed the day without significant changes. Today it dropped slightly, dropping to $0.7400. On the hourly chart, AUD/USD is still trading above the MA line (200) H1 ($0.7340). 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: $0.7440, $0.7465-75, $0.7500

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

    Probably, the main scenario is an upward movement to $0.7440 (Oct 15 high). Alternative scenario is consolidation below MA 200 H1, followed by a decline to $0.7225 (Oct 6 low).

  • 13:36

    Gold is testing support for MA 200 H1

    The XAU/USD traded lower on Friday and closed the day in the red around $1767. Today gold was trading in a narrow range of $1764-72, staying close to Friday's close. On the hourly chart, XAU/USD is testing the strength of the support - the moving average MA (200) H1 ($1767). 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 XAU/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: $1790, $1800, $1806-08

    • Support levels are at: $1758, $1745, $1735

    Probably, the main scenario is an upward movement to $1790 (high of the European session on Oct 15). An alternative scenario is a final consolidation below the MA 200 H1, followed by a decline to $1722 (Sep 30 low).

  • 13:25

    Oil continues to rise on Friday

    Brent crude traded slightly higher on Friday and closed the day in positive territory around $85.05. Today oil is slightly higher, rising to the level of $86.25. On the hourly chart, Brent is still trading above the moving average MA line (200) H1 ($83.40). 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: $86.25, $87.00, $88.00

    • Support levels are at: $84.50, $82.45-60, $79.35-60

    Probably, the main scenario is a subsequent rise to $86.25 (session high). An alternative scenario is consolidation below MA 200 H1, followed by a decline to $75.70 (Sep 23 low).

  • 13:02

    USD/JPY is trading near October 2018 high

    On Friday, the USD/JPY was trading higher and closed the day in positive territory around the Y114.20. Today it was trading in a narrow range of Y114.00-45, staying close to the October 2018 high. On the hourly chart, USD/JPY is still trading above the MA line (200) H1 (Y112.80). 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: Y114.45, Y115.00, Y115.00

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

    Probably, the main scenario is the continuation of the upward movement to Y114.45 (Oct 15 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 continues to test the strength of the MA 200 H1 support

    Yesterday the USD/CHF traded in different directions in the range Chf0.9220-Chf0.9265 and closed the day without significant changes. Today it rallied slightly, rising to Chf0.9245. On the hourly chart, USD/CHF is testing its support - the MA (200) H1 (Chf0.9265) moving average line. 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 at the end of the correction.

    • Resistances levels are at: Chf0.9265, Chf0.9295-10, Chf0.9335

    • Support levels are at: Chf0.9220, Chf0.9195, Chf0.9150-65

    Probably, the main scenario is a further advance towards Chf0.9265 (Oct 15 high). Alternative scenario is consolidation below MA 200 H1, followed by a decline towards Chf0.9130 (Sep 7 low).

  • 12:29

    GBP/USD is trading above MA 200 H1

    The GBP/USD was trading higher on Friday and closed the day in positive territory around $1.3740. Today it dropped slightly, dropping to $1.3730. On the hourly chart, GBP/USD is still trading above the MA line (200) H1 ($1.3630). 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 GBP/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: $1.3770, $1.3810, $1.3840-50

    • Support levels are at: $1.3670, $1.3630, $1.3590

    Probably, the main scenario is the continuation of the rise to $1.3770 (Oct 15 high). An alternative scenario is consolidation below the MA 200 H1 level with a subsequent decline to $1.3530 (Oct 4 low).

  • 12:28

    EUR/USD is still testing the MA 200 H1 resistance

    On Friday, the EUR/USD traded in different directions in the range of $1.1590-$1.1615 and closed the day without significant changes. Today it dropped slightly, dropping to $1.1585. On the hourly chart, EUR/USD continues to test the resistance - the moving average MA (200) H1 ($1.1570). On the four-hour chart, the EUR/USD remains below the MA 200 H4 line for now. Based on the above, 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: $1.1615-25, $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).

Market focus

October 2021
  • 2021
  • 2020
  • 2019
  • 2018
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012
  • 2011
  • 2010
  • 2009
  • 2008
  • 2007
  • 2006
  • 2005
  • 2004
  • 2003
  • 2002
REGISTER FOR TRAINING