Technical analysis

Technical analysis

19 October 2021
  • 20:09

    NZD/USD rose to a five-week high

    Today, the NZD/USD pair rose from $0.7080 to a five-week high of $0.7150. On the hourly chart, the pair fixed above the moving average line MA (200) H1 ($0.6990) 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: $0.7170, $0.7210, $0.7270

    Support levels are: $0.7105, $0.7050, $0.6990


    The main scenario for the pair's promotion — continuation of the upward movement to $0.7170 (September 3 high)

    An alternative scenario — correction and there may be a decrease to $0.7050 (October 18 low)


  • 19:53

    USD/JPY is trading near a three-year high

    Today, the USD/JPY pair is trading in the range Y113.90-114.45 - about a three-year high. On the hourly chart, the pair rose above the moving average line MA (200) H1 (Y113.25) and on the four-hour chart - above MA (200) H4 (Y111.10). 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: Y113.90, Y113.00-25, Y112.15


    The main scenario for the pair's promotion — resistance breakout is Y114.45-55 (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 Y113.90 and there may be a decline to Y113.00-25 (October 12-14 lows, MA (200) H1)


  • 19:45

    USD/CHF dropped to a monthly low

    Today, the USD/CHF pair declined from Chf0.9240 to Chf0.9185, reaching a monthly low. On the hourly chart, the pair fixed below the moving average line MA (200) H1 (Chf0.9260) and on the four-hour chart it dropped below MA (200) H4 (Chf0.9245). In this situation, it is probably necessary to stick to the southern direction in trade, and it may be worth looking for exit points for sale.



    Resistance levels are: Chf0.9240, Chf0.9260-75, Chf0.9315

    Support levels are: Chf0.9185, Chf0.9165,  Chf0.9130


    The main scenario for the pair's promotion — breakout of the session minimum of Chf0.9185 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 Chf0.9240


  • 19:28

    GBP/USD rose to a monthly high

    Today, the GBP/USD pair rose from $1.3725 to $1.3830, reaching a new monthly high. The pair broke through the resistance of $1.3775, which became the closest support. On the hourly chart, the pair fixed above the moving average line MA (200) H1 ($1.3660) and on the four-hour chart - slightly above MA (200) H4 ($1.3695). In this situation, the scenario of further growth of the GBP/USD pair is likely.


    Resistance levels are: $1.3855, $1.3915, $1.3960

    Support levels are: $1.3775, $1.3710, $1.3660-65

    The main scenario for the pair's promotion — continuation of the upward movement to $1.3855 (September 15-16 high)

    An alternative scenario — correction and there may be a decline to $1.3710 (October 18 low)


  • 19:15

    EUR/USD rose to a three-week high

    Today, the EUR/USD pair rose sharply from $1.1610 to $1.1670, reaching a three-week high. The pair broke through the resistance of $1.1640, which became the closest support. On the hourly chart, the pair fixed above the moving average line MA (200) H1 ($1.1580) and on the four-hour chart - above MA (200) H4 ($1.17000). In this situation, it is probably necessary to stick to the northern direction in trading, and it may be worth looking for exit points to buy.


    Resistance levels are: $1.1670, $1.1705, $1.1750

    Support levels are:  $1.1640, $1.1610, $1.1570-80

     

    The main scenario for promoting the pair  — breakout of the session high of $1.1670 and there may be an increase to $1.1705 (September 28 high)

    An alternative scenario — the correction may be a decrease to the session low of $1.1610


  • 14:20

    USD/CAD remains below MA 200 H1

    Yesterday the USD/CAD traded in different directions in the range of С$1.2350-С$1.2410 and closed the day without significant changes. Today it dropped slightly, dropping to the level of C$1.2340. On the hourly chart, USD/CAD is still trading below the moving average MA line (200) H1 (C$1.2455). 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$1.2410, С$1.2470, С$1.2520

    • 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$1.2645 (Oct 6 high).

  • 13:56

    AUD/USD remains above MA 200 H1

    Yesterday the AUD/USD traded in different directions in the range of $0.7380-$0.7435 and closed the day without significant changes. Today it has risen to the $0.7450 level. On the hourly chart, AUD/USD is still trading above the MA line (200) H1 ($0.7360). 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: $0.7465-75, $0.7500, $0.7530

    • Support levels are at: $0.7410, $0.7370-80, $0.7325

    Probably, the main scenario is an upward movement to $0.7465 (Sep 7 high). Alternative scenario is consolidation below MA 200 H1, followed by a decline to $0.7225 (Oct 6 low).


  • 13:42

    Gold is testing support for MA 200 H1

    Yesterday the XAU/USD traded in different directions in the range of $1760-72 and closed the day without significant changes. Today gold is up to $1775. On the hourly chart, XAU/USD is testing the strength of the support - the moving average MA (200) H1 ($1768). On the four-hour chart, gold 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 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: $1758-60, $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).

  • 13:21

    Oil remains above MA 200 H1

    Brent crude was trading lower yesterday and closed the day in the red around $84.40. Oil was trading in a narrow range of $83.90-65 today, staying close to yesterday's closing price. On the hourly chart, Brent is still trading above the moving average MA line (200) H1 ($83.70). 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 at the end of the correction.

    • Resistances levels are at: $86.25, $87.00, $88.00

    • Support levels are at: $83.55, $82.45-60, $79.35-60

    Probably, the main scenario is a subsequent rise to $86.25 (Oct 18 high). An alternative scenario is consolidation below MA 200 H1, followed by a decline to $79.60 (Oct 7 low).

  • 12:54

    USD/JPY is trading near October 2018 high

    Yesterday the USD/JPY traded in different directions in the Y114.00-45 range and closed the day without significant changes. Today it was trading in a narrow range of Y114.10-35, staying close to the October 2018 high. On the hourly chart, USD/JPY is still trading above the moving average MA (200) H1 (Y113.10). 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: Y114.45, 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 Y111.20 (Oct 7 low).

  • 12:41

    USD/CHF has consolidated below MA 200 H1

    Yesterday the USD/CHF traded in different directions in the range Chf0.9220-Chf0.9270 and closed the day without significant changes. Today it dropped slightly, dropping to Chf0.9215. On the hourly chart, USD/CHF has broken through and consolidated below the moving average MA (200) H1 (Chf0.9265). 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/CHF 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: Chf0.9245, Chf0.9270, Chf0.9295-10

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

    Probably, the main scenario is a subsequent decline to Chf0.9195 (Oct 14 low). Alternative scenario is consolidation above MA 200 H1, with further advance towards Chf0.9335 (Oct 1 high).

  • 12:26

    GBP/USD is still trading above MA 200 H1

    The GBP/USD was trading lower yesterday and closed the day in the red around $1.3730. Today it rallied slightly, rising to $1.3770. On the hourly chart, GBP/USD is still trading above the MA line (200) H1 ($1.3650). 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 it remains above MA 200 H1, it may be necessary to look for buy entry points to form a correction.

    • Resistances levels are at: $1.3770, $1.3810, $1.3840-50

    • Support levels are at: $1.3710, $1.3670, $1.3630

    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).

  • 12:08

    EUR/USD consolidated above MA 200 H1

    Yesterday the EUR/USD was trading higher and closed the day in positive territory around $1.1610. It also rose today, climbing to $1.1640. On the hourly chart, EUR/USD has broken through and consolidated above the MA line (200) H1 ($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 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 to form a correction.

    • Resistances levels are at: $1.1640, $1.1670, $1.1700

    • Support levels are at: $1.1595, $1.1570, $1.1525-35

    Probably, the main scenario is continued growth to $1.1640 (session high). An alternative scenario is a final consolidation below the MA 200 H1, followed by a decline to $1.1525 (Oct 12 low).


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