Technical analysis

Technical analysis

20 October 2021
  • 20:10

    NZD/USD is trading near a six-week high

    Today, the NZD/USD pair is trading in the range of $0.7145-80 - about a six-week high. On the hourly chart, the pair consolidated above the moving average line MA (200) H1 ($0.7015) and on the four-hour chart rose above MA (200) H4 ($0.7030). 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: $0.7180, $0.7210, $0.7270

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


    The main scenario for the pair's promotion — breakout of the session high of $0.7180 and there may be an increase to $0.7210 (June 9-11 high)

    An alternative scenario — correction and there may be a decrease to $0.7105 (October 18 high)


  • 19:51

    USD/JPY rose to a four-year high

    Today, the USD/JPY pair is trading in the Y114.40-70 range, having reached a four-year high. On the hourly chart, the pair rose above the moving average line MA (200) H1 (Y113.60) and on the four-hour chart - above MA (200) H4 (Y111.25). 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:  Y114.70-75, Y115.50, Y115.50

    Support levels are: Y113.90, Y113.60, Y113.00


    The main scenario for the pair's promotion — the resistance breakthrough is Y114.70-75 (November 6’ 2017 high, session maximum) and there may be an increase to Y115.50 (March 10’ 2017 high)

    An alternative scenario — there may be a decrease in the pair to Y113.90 (October 19 low)

  • 19:40

    USD/CHF remains below MA (200) H1

    Today, the USD/CHF pair is trading in the range of Chf0.9225-50 after falling yesterday to a monthly low of Chf0.9185. On the hourly chart, the pair failed to break through the moving average line of MA (200) H1 (Chf0.9250) and on the four-hour chart it is testing MA (200) H4 (Chf0.9245). Technically speaking, the strong resistance level of Chf0.9250 kept prices from further growth. If it breaks through, prices may soar to Chf0.9275. The lower bound of Chf0.9185 represents the support level. The most likely range of price movements for today may be hidden within the range of Chf0.9185-0.9250



    Resistance levels are: Chf0.9250, Chf0.9275, Chf0.9315

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


    The main scenario for the pair's promotion — it is possible to reduce the pair to Chf0.9185 (October 19 low)

    An alternative scenario — if the session maximum and MA (200) H1 (Chf0.9250) are broken, then the pair may rise to Chf0.9275 (October 18 high)


  • 19:25

    GBP/USD retreated from a monthly high

    Today, the GBP/USD pair declined from $1.3815 to $1.3750, after reaching a new monthly high of $1.3835 yesterday. On the hourly chart, the pair remains above the moving average line MA (200) H1 ($1.3685) and on the four-hour chart - slightly above MA (200) H4 ($1.3695). Technically speaking, a strong support level of $1.3710 may keep prices from falling further. If it breaks through, prices may drop to $1.3670-85. The upper limit of $1.3835-50 represents the resistance level. The most likely range of price movement for today may be hidden within the range of $1.3710-1.3850



    Resistance levels are: $1.3835-50, $1.3915, $1.3960

    Support levels are: $1.3710, $1.3670-85, $1.3570

    The main scenario for the pair's promotion — correction and there may be an increase to $1.3835-50 (September 15-16 and October 19 high)

    An alternative scenario — the pair may decline to $1.3710 (October 18 low)


  • 19:13

    EUR/USD is declining, but remains above MA (200) H1

    Today, the EUR/USD pair is trading mainly with a decline in the range of $1.1615-50 after rising yesterday to a three-week high of $1.1670. On the hourly chart, the pair remains above the moving average line MA (200) H1 ($1.1590), but on the four-hour chart it is trading below MA (200) H4 ($1.1690). Technically speaking, a strong resistance level of $1.1670 can keep prices from rising. If it breaks through, prices may soar to $1.1705. The lower bound of $1.1615 represents the support level. If this level is passed, the pair may follow a correction to $1.1570-90. The most likely range of price movements for today may be hidden within the range of $1.1615-70.


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

    Support levels are:  $1.1615, $1.1570-90, $1.1525

     

    The main scenario for promoting the pair  — correction and there may be an increase to $1.1670 (October 19 high)

    An alternative scenario — breakout of the session low of $1.1615 and there may be a decline to $1.1570-90 (October 18 low, MA (200) H1)


  • 14:13

    USD/CAD is trading near July lows

    Yesterday, the USD/CAD was trading lower and closed the day in the red around the C$1.2365. Today it was trading in a narrow range of C$1.2340-65, staying close to the July lows. On the hourly chart, USD/CAD is still trading below the moving average MA (200) H1 (C$1.2425). 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: С$1.2300-10, С$1.2250-70, С$1.2155

    Probably, the main scenario is the continuation of the decline to C$1.2310 (Oct 19 low). An alternative scenario is consolidation above MA (200) H1, followed by growth to C$1.2645 (Oct 6 high).

  • 14:00

    AUD/USD continues to rise yesterday

    Yesterday the AUD/USD was trading higher and closed the day in positive territory around the $0.7475. It has also increased slightly today, rising to the $0.7495 level. On the hourly chart, AUD/USD is still trading above the MA line (200) H1 ($0.7380). 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: $0.7500, $0.7530, $0.7595

    • Support levels are at: $0.7455, $0.7410, $0.7370-80

    Probably, the main scenario is an upward movement to $0.7500 (Jul 13 high). An alternative scenario is consolidation below MA 200 H1, followed by a decline to $0.7225 (Oct 6 low).

  • 13:53

    Gold continues to test support for MA 200 H1

    Yesterday, the XAU/USD was trading higher and closed the day in positive territory around the $1770 price. Gold is also slightly higher today, rising to $1774. On the hourly chart, XAU/USD is testing the strength of the support - the moving average line MA (200) H1 ($1769). On the four-hour chart, gold remains above 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 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: $1785, $1800, $1806-08

    • Support levels are at: $1758-60, $1745, $1735

    Probably, the main scenario is an upward movement to $1785 (Oct 19 high). An alternative scenario is a final consolidation below the MA 200 H1, followed by a decline to $1722 (Sep 30 low).

  • 13:20

    Oil remains above MA 200 H1

    Brent crude traded higher yesterday and closed the day in positive territory around $85.15. Oil dropped slightly today, dropping to $84.40. On the hourly chart, Brent is still trading above the moving average MA line (200) H1 ($83.95). 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 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: $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).

  • 13:02

    USD/JPY is trading near November 2017 highs

    Yesterday the USD/JPY traded in different directions in the Y113.90-Y114.40 range and closed the day without significant changes. Today it was trading in a narrow range of Y114.35-70, staying near the November 2017 highs. On the hourly chart, USD/JPY is still trading above the moving average MA (200) H1 (Y113.45). 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: Y114.70, Y115.00, Y116.00

    • Support levels are at: Y113.90, Y113.30, Y113.00

    Probably, the main scenario is the continuation of the upward movement to Y114.70 (session high). An alternative scenario is consolidation below MA 200 H1, followed by a decline to Y111.20 (Oct 7 low).

  • 13:01

    USD/CHF remains below MA 200 H1

    Yesterday the USD/CHF traded in different directions in the range Chf0.9185-Chf0.9240 and closed the day without significant changes. Today it rallied slightly, rising to Chf0.9240. On the hourly chart, USD/CHF is still trading below the moving average MA (200) H1 (Chf0.9255). The situation is similar on the four-hour chart. Based on the above, 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 a sell entry point at the end of the correction.

    • Resistances levels are at: Chf0.9245, Chf0.9270, Chf0.9295-10

    • Support levels are at: Chf0.9185, Chf0.9150-65, Chf0.9135

    Probably, the main scenario is a subsequent decline to Chf0.9185 (Oct 19 low). Alternative scenario is consolidation above MA 200 H1, with further advance towards Chf0.9335 (Oct 1 high).

  • 12:17

    GBP/USD is trading near a 5-week high

    Yesterday the GBP/USD was trading higher and closed the day in positive territory around the $1.3790. Today it was trading in a narrow range of $1.3790-15, staying close to a 5-week high. On the hourly chart, GBP/USD is still trading above the moving average MA line (200) H1 ($1.3675). 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 to form a correction.

    • Resistances levels are at: $1.3835-50, $1.3910-25, $1.3945-55

    • Support levels are at: $1.3770, $1.3710, $1.3670

    Probably, the main scenario is the continuation of the rise to $1.3835 (Oct 19 high). An alternative scenario is consolidation below the MA 200 H1 level with a subsequent decline to $1.3530 (Oct 4 low).

  • 12:13

    EUR/USD remains above MA 200 H1

    Yesterday the EUR/USD was trading higher and closed the day in positive territory around the $1.1630. Today it rallied slightly, rising to $1.1645. On the hourly chart, EUR/USD is still trading above the MA line (200) H1 ($1.1585). 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: $1.1670, $1.1700, $1.1825

    • Support levels are at: $1.1610, $1.1595, $1.1570

    Probably, the main scenario is continued growth to $1.1670 (Oct 19 high). An alternative scenario is a final consolidation below the MA 200 H1, followed by a decline to $1.1525 (Oct 12 low).

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