Technical analysis

Technical analysis

21 October 2021
  • 20:21

    The NZD/USD pair is trading near a 16-week high

    Today, since the start of trading, the NZD/USD pair has reached a 16-week high of $0.7220, but later declined slightly to $0.7175. On the hourly chart, the pair consolidated above the moving average line MA (200) H1 ($0.7050) 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: $0.7220, $0.7270, $0.7315

    Support levels are: $0.7145, $0.7050, $0.6900


    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 — decline to $0.7145 (October 20 low) and then maybe to $0.7050 (October 18 low, MA (200) H1)


  • 20:11

    USD/JPY is trading near a four-year high

    Today, the USD/JPY pair is trading in the range Y113.90-114.40 - about a four-year high. On the hourly chart, the pair rose above the moving average line MA (200) H1 (Y113.90) and on the four-hour chart - above MA (200) H4 (Y111.35). 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, Y113.00, Y112.15


    The main scenario for the pair's promotion — the resistance breakthrough is Y114.70-75 (November 6’ 2017 high and October 20 high) and there may be an increase to Y115.50 (maximum on March 10’ 2017 high)

    An alternative scenario — Support breakout is Y113.90 (October 19 low, MA (200) H1) and there may be a decline to Y113.00 (October 12 low)


  • 19:59

    USD/CHF is trading near a five-week low

    Today, the USD/CHF pair is trading in the range of Chf0.9180-0.9205 - near an almost five-week low. On the hourly chart, the pair is trading below the moving average line MA (200) H1 (Chf0.9240) and on the four-hour chart - below MA (200) H4 (Chf0.9245). In this situation, it is probably worth sticking to the southern direction in trade, maybe you should look for exit points for sale



    Resistance levels are: Chf0.9205, Chf0.9240-50, Chf0.9275

    Support levels are: Chf0.9165, Chf0.9130,  Chf0.9100


    The main scenario for the pair's promotion — it is possible to reduce the pair to Chf0.9165 (September 15 low)

    An alternative scenario —if the session maximum of Chf0.9205 is broken, then the pair may rise to Chf0.9240-50 (October 20 high, MA (200) H1)


  • 19:41

    GBP/USD is trading near a monthly high

    Today, the GBP/USD pair is trading mainly with a decline from $1.3835 to $1.3785 - about a new monthly high of $1.3835. On the hourly chart, the pair remains above the moving average line MA (200) H1 ($1.3710) and on the four-hour chart - above MA (200) H4 ($1.3690). Technically speaking, the strong resistance level of $1.3835 is keeping prices from further growth for now. The lower bound of $1.3785 represents the support level. The most likely range of price movement for today may be hidden within the range of $1.3785-1.3835.


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

    Support levels are: $1.3785, $1.3745, $1.3710

    The main scenario for the pair's promotion — correction and there may be an increase to $1.3835-50 (September 15-16 and October 19-20 highs, session high)

    An alternative scenario — breakout of the session low of $1.3785 and there may be a decline in the pair to $1.3745 (October 20 low)


  • 19:24

    EUR/USD remains above MA (200) H1

    Today, since the start of trading, the EUR/USD pair has slightly increased from $1.1650 to a three-week high of $1.1670, but soon fell to $1.1635 On the hourly chart, the pair remains above the moving average line MA (200) H1 ($1.1600), but on the four-hour chart it is trading below MA (200) H4 ($1.1685). Technically speaking, the strong resistance level of $1.1670 keeps prices from rising for now. If it breaks through, prices may soar to $1.1705. The lower bound of $1.1600-15 represents the support level. The most likely range of price movements for today may be hidden within the range of $1.1600-70.


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

    Support levels are: $1.1600-15, $1.1570, $1.1525

     

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

    An alternative scenario — there may be a decrease in the pair to $1.1600-15 (October 20 low, MA (200) H1)


  • 14:18

    USD/CAD continues yesterday's decline

    Yesterday, the USD/CAD was trading lower and closed the day in the red around the C$1.2315. It also dropped slightly today, dropping to C$1.2290. On the hourly chart, USD/CAD is still trading below the moving average MA line (200) H1 (C$1.2400). 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$1.2360-75, С$1.2410, С$1.2470

    • Support levels are at: С$1.2290, С$1.2250-70, С$1.2155

    Probably, the main scenario is a continuation of the decline to C$1.2290 (session low). An alternative scenario is consolidation above MA (200) H1, followed by growth to C$1.2645 (Oct 6 high).

  • 14:13

    AUD/USD is trading near July highs

    Yesterday the AUD/USD was trading higher and closed the day in positive territory around the $0.7515. Today it was trading in a narrow range of $0.7505-45, staying close to the July highs. On the hourly chart, AUD/USD is still trading above the MA line (200) H1 ($0.7405). 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: $0.7545, $0.7595-15, $0.7645

    • Support levels are at: $0.7455-65, $0.7410, $0.7370-80

    Probably, the main scenario is an upward movement to $0.7545 (session high). Alternative scenario is consolidation below MA 200 H1, followed by a decline to $0.7225 (Oct 6 low).

  • 13:38

    Gold continues to rise yesterday

    Yesterday, the XAU/USD was trading higher and closed the day in positive territory around the $1785. Gold is also up slightly today, rising to $1789. On the hourly chart, XAU/USD is still trading above the MA line (200) H1 ($1772). 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 for the formation of a correction.

    • Resistances levels are at: $1789, $1800, $1806-08

    • Support levels are at: $1775, $1767, $1758-60

    Probably, the main scenario is an upward movement to $1780 (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 trades around October 2018 highs

    Yesterday, Brent crude was trading higher and closed the day in positive territory around $85.90. Crude oil traded in a narrow range of $85.65-$86.25 today, staying near the October 2018 highs. On the hourly chart, Brent is still trading above the moving average MA (200) H1 ($84.40). 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: $83.55-60, $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).

  • 13:24

    USD/JPY is trading near November 2017 highs

    Yesterday the USD/JPY traded in different directions in the Y114.10-70 range and closed the day without significant changes. Today it also traded in a narrow range of Y114.20-40, staying near the highs of November 2017. On the hourly chart, USD/JPY is still trading above the moving average MA (200) H1 (Y113.75). 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: Y114.70, 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 (Oct 20 high). An alternative scenario is consolidation below MA 200 H1, followed by a decline to Y111.20 (Oct 7 low).

  • 12:44

    USD/CHF is trading near 6-week low

    The USD/CHF was trading lower yesterday and closed the day in the red around the Chf0.9190. Today it was trading in a narrow range of Chf0.9185-95, staying close to a 6-week low. On the hourly chart, USD/CHF is still trading below the moving average MA (200) H1 (Chf0.9245). 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 a sell entry point for the formation of a correction.

    • Resistances levels are at: Chf0.9250, 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).

  • 12:32

    GBP/USD is trading near a 5-week high

    Yesterday the GBP/USD was trading higher and closed the day in positive territory around $1.3825. Today it was trading in a narrow range of $1.3820-30, staying close to a 5-week high. On the hourly chart, GBP/USD is still trading above the MA line (200) H1 ($1.3700). 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: $1.3835-50, $1.3910-25, $1.3945-55

    • Support levels are at: $1.3745, $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).


  • 12:01

    EUR/USD continues to rise yesterday

    Yesterday the EUR/USD was trading higher and closed the day in positive territory around the $1.1655. Today it rallied slightly, rising to $1.1665. On the hourly chart, EUR/USD is still trading above the moving average MA line (200) H1 ($1.1595). 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 EUR/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: $1.1670, $1.1700, $1.1825

    • Support levels are at: $1.1620, $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).

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