Technical analysis

Technical analysis

22 October 2021
  • 20:11

    NZD/USD is trading near a 16-week high

    Today, the NZD/USD pair is trading in the range of $0.7150-90 - slightly below the 16-week high of $0.7220 reached yesterday. On the hourly chart, the pair fixed above the moving average line MA (200) H1 ($0.7075) 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: $0.7140, $0.7050-75, $0.6960


    The main scenario for the pair's promotion — break of yesterday's high of $0.7220 and there may be an increase to $0.7270 (June 2 high)

    An alternative scenario — decline to $0.7140 (October 20 low) and then maybe to $0.7050-75 (October 18-19 lows, MA (200) H1)

  • 20:00

    USD/JPY is testing MA (200) H1

    Today, the USD/JPY pair is trading in the range of Y113.75-114.20 - slightly below the four-year high of Y114.70 reached this week. On the hourly chart, the pair is testing the moving average line of MA (200) H1 (Y113.95), but on the four-hour chart it is trading significantly higher than MA (200) H4 (Y111.50). Technically speaking, a strong resistance level of Y114.70-75 can keep prices from further growth. The lower bound of Y113.65 represents the support level. Also, 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:  Y114.20, Y114.70-75, Y115.50

    Support levels are: Y113.65, Y113.00, Y112.15


    The main scenario for the pair's promotion — breakout of the session maximum of Y114.20 and there may be an increase to Y114.70-75 (November 6’ 2017 high and October 20 high)

    An alternative scenario — support breakout of Y113.65 (October 21 low) and there may be a decline to Y113.00 (October 12 low)

  • 19:46

    USD/CHF is trading near a five-week low

    Today, the USD/CHF pair is trading mainly with a decline from Chf0.9185 to Chf00.9165 - near an almost five-week low. On the hourly chart, the pair is trading below the moving average line MA (200) H1 (Chf0.9340) and on the four-hour chart - below MA (200) H4 (Chf0.9250). 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, Chf0.9230-50, Chf0.9275

    Support levels are: Chf0.9150, Chf0.9100,  Chf0.9050


    The main scenario for the pair's promotion — it is possible to reduce the pair to Chf0.9150 (September 10 low)

    An alternative scenario — if the resistance of Chf0.9205 (October 21 high) is broken, the pair may rise to Chf0.9230-50 (October 20 high, MA (200) H1)


  • 19:36

    GBP/USD is trading near a monthly high

    Today, the GBP/USD pair is trading in the range of $1.3770-$1.3815 - slightly below the monthly high of $1.3835 reached earlier this week. On the hourly chart, the pair remains above the moving average line MA (200) H1 ($1.3730) and on the four-hour chart - above MA (200) H4 ($1.3690). Technically speaking, a strong resistance level of $1.3835 may keep prices from rising further. The lower bound of $1.3730-40 represents the support level. The most likely range of price movement for today may be hidden within the range of $1.3730 -1.3835



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

    Support levels are: $1.3730-40, $1.3670, $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 19-21 highs)

    An alternative scenario — the pair may decline to $1.3730-40 (minimum on October 20, MA (200) H1)



  • 19:23

    EUR/USD remains above MA (200) H1

    Today, the EUR/USD pair is trading mainly with an increase from $1.1620 to $1.1650 - slightly below the three-week high of $1.1670 reached earlier this week. On the hourly chart, the pair remains above the moving average line MA (200) H1 ($1.1610), but on the four-hour chart it is trading below MA (200) H4 ($1.1675). Technically speaking, a strong resistance level of $1.1670 may keep prices from rising further. If it breaks through, prices may soar to $1.1705. The lower bound of $1.1610-15 represents the support level. The most likely range of price movements for today may be hidden within the range of $1.1610-70.



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

    Support levels are: $1.1610-15, $1.1570, $1.1525

     

    The main scenario for promoting the pair  — the pair may rise to $1.1670 (October 19 and 21 high)

    An alternative scenario — correction and there may be a decrease to $1.1610-15 (October 20 low, MA (200) H1)


  • 14:21

    USD/CAD remains below MA 200 H1

    Yesterday the USD/CAD was trading higher and closed the day in positive territory around the C$1.2370. Today it dropped slightly, dropping to the C$1.2345. On the hourly chart, USD/CAD is still trading below the MA line (200) H1 (C$1.2385). 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/CAD 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: С$1.2410, С$1.2470, С$1.2520

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

    Probably, the main scenario is the continuation of the decline to C$1.2290 (Oct 21 low). An alternative scenario is consolidation above MA (200) H1, followed by growth to C$1.2645 (Oct 6 high).

  • 14:04

    AUD/USD remains above MA 200 H1

    Yesterday, the AUD/USD was trading lower and closed the day in the red around the $0.7465. Today it was trading in a narrow range of $0.7455-90, staying close to yesterday's closing price. On the hourly chart, AUD/USD is still trading above the MA line (200) H1 ($0.7425). 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: $0.7545, $0.7595-15, $0.7645

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

    Probably, the main scenario is an upward movement to $0.7545 (Oct 21 high). Alternative scenario is consolidation below MA 200 H1, followed by a decline to $0.7225 (Oct 6 low).

  • 13:41

    Gold stays above MA 200 H1

    Yesterday the XAU/USD traded in different directions in the range of $1776-$1789 and closed the day without significant changes. Gold also traded in a narrow range of $1783-88 today, staying close to yesterday's closing price. On the hourly chart, XAU/USD is still trading above the MA line (200) H1 ($1774). 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 to form 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 $1789 (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).

  • 13:22

    Oil is testing support for MA 200 H1

    Brent crude was trading lower yesterday and closed the day in the red around $84.90. Oil was trading in a narrow range of $84.10- $85.40 today, staying close to yesterday's closing price. On the hourly chart, Brent is testing the strength of the support - the MA line (200) H1 ($84.55). On the four-hour chart, oil 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 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: $83.50, $82.45-60, $79.35-60

    Probably, the main scenario is a subsequent rise to $86.25 (Oct 21 high). An alternative scenario is consolidation below MA 200 H1, followed by a decline to $79.60 (Oct 7 low).

  • 13:03

    USD/JPY is testing MA 200 H1 support

    Yesterday, the USD/JPY was trading lower and closed the day in the red around the Y114.00. Today it was trading in a narrow range of Y113.80-20, staying close to yesterday's closing price. On the hourly chart, USD/JPY is testing the strength of the support - the moving average MA (200) H1 (Y113.90). On the four-hour chart, the USD/JPY 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 USD/JPY 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: Y114.70, Y115.00, Y116.00

    • Support levels are at: Y113.65, 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).

  • 12:41

    USD/CHF is trading near 6-week low

    The USD/CHF was trading lower yesterday and closed the day in the red around the Chf0.9185. Today it was trading in a narrow range of Chf0.9175-85, staying close to a 6-week low. On the hourly chart, USD/CHF is still trading below the moving average MA (200) H1 (Chf0.9235). 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: Chf0.9205, Chf0.9250, Chf0.9270

    • Support levels are at: Chf0.9170, Chf0.9150, Chf0.9135

    Probably, the main scenario is a subsequent decline to Chf0.9170 (Oct 21 low). Alternative scenario is consolidation above MA 200 H1, with further advance towards Chf0.9335 (Oct 1 high).

  • 12:28

    GBP/USD is trading near a 5-week high

    The GBP/USD was trading lower yesterday and closed the day in the red around $1.3790. Today it was trading in a narrow range of $1.3785-05, staying close to a 5-week high. On the hourly chart, GBP/USD is still trading above the MA line (200) H1 ($1.3715). 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: $1.3745, $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).

  • 12:05

    EUR/USD remains above MA 200 H1

    EUR/USD was trading lower yesterday and closed the day in the red around $1.1620. Today it was trading in a narrow range of $1.1620-30, staying close to yesterday's closing price. On the hourly chart, EUR/USD is still trading above the MA line (200) H1 ($1.1605). 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: $1.1665-70, $1.1700, $1.1825

    • Support levels are at: $1.1620, $1.1595, $1.1570

    Probably, the main scenario is continued growth to $1.1665 (Oct 21 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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