Technical analysis

Technical analysis

25 October 2021
  • 20:03

    NZD/USD remains above MA (200) H1

    Today, the NZD/USD pair is trading in the range of $0.7130-80 after reaching a 16-week high of $0.7220 last week. On the hourly chart, the pair remains above the moving average line MA (200) H1 ($0.7100) and on the four-hour chart - above MA (200) H4 ($0.7030). Technically speaking, the strong support level of $0.7130 keeps prices from further decline. The upper limit of $0.7220 represents the resistance level.


    Resistance levels are: $0.7190, $0.7220, $0.7270

    Support levels are:  $0.7130, $0.7100, $0.7050


    The main scenario for the pair's promotion — the resistance breakout is $0.7190 (October 22 high) and there may be an increase to $0.7220 (October 21 high)

    An alternative scenario — support breakout is $0.7130 (October 22 low, session minimum) and there may be a decline to MA(200) H1 ($0.7100)

  • 19:39

    USD/JPY is trading near a weekly low

    Today, the USD/JPY pair is trading in the range of Y113.50-80 - near a weekly low, retreating from the four-year high of Y114.70 reached last week. On the hourly chart, the pair dropped below the moving average line MA (200) H1 (Y113.95), but on the four-hour chart it is trading significantly above MA (200) H4 (Y111.60). Technically speaking, a strong support level Y113.40 can keep prices from further decline. The upper bound of Y114.70-75 represents the resistance level.

     

    Resistance levels are: Y113.95-114.20, Y114.70-75, Y115.50

    Support levels are: Y113.40, Y113.00, Y112.15


    The main scenario for the pair's promotion — resistance breakthrough Y113.95-114.20 (October 22 high, MA (200) H1) and there may be an increase to Y114.70-75 (November 6’ 2017 high and October 20 high)

    An alternative scenario — support breakout is Y113.40 (October 22 low) and there may be a decline to Y113.00 (October 12 low)


  • 19:27

    USD/CHF retreated slightly from a six-week low

    Today, the USD/CHF pair rose from Chf0.9150 to Chf00.9200, retreating from the six-week low reached on Friday. On the hourly chart, the pair remains on the moving average line MA (200) H1 (Chf0.9215) 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 trading, maybe you should look for exit points for sale, at the end of the correction



    Resistance levels are: Chf0.9205-15, Chf0.9250, Chf0.9275

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


    The main scenario for the pair's promotion — the pair may decline to Chf0.9150 (September 10 and October 22 low, session minimum)

    An alternative scenario — if the resistance of Chf0.9205-15 (October 21 high, MA (200) H1) is broken, then the pair can rise to Chf0.9250 (October 20 high)

  • 19:09

    GBP/USD tests the strength of the support of MA (200) H1

    Today, the GBP/USD pair is trading in the range of $1.3740-90 - slightly below the monthly high of $1.3835 reached earlier last week. On the hourly chart, the pair tests the strength of the moving average line MA (200) H1 ($1.3745) and on the four-hour chart remains 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 $1.3735-45 represents the support level. The most likely range of price movement for today may be hidden within the range of $1.3735-90.



    Resistance levels are:  $1.3790, $1.3835-50, $1.3915

    Support levels are: $1.3735-45, $1.3710, $1.3670

    The main scenario for the pair's promotion — breakout of the session high of $1.3790 and there may be an increase to $1.3835-50 (September 15-16 and October 19-21 highs)

    An alternative scenario — if the support of $1.3735-45 (October 20 and 22 lows, MA (200) H1) is broken, then the pair may fall to $1.3710 (October 18 low)

  • 18:52

    EUR/USD has declined and is testing the strength of MA (200) H1

    Today, since the start of trading, the EUR/US pair has slightly increased from $1.1635 to $1.1665, but during European trading it sharply declined to the level of the moving average MA (200) H1 ($1.1620). On the four-hour chart, it is trading below MA (200) H4 ($1.1670). 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 $1.1610-20 represents the support level. The most likely range of price movement for today may be hidden within the range of $1.1610-70.


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

    Support levels are: $1.1610-20, $1.1570, $1.1525

     The main scenario for promoting the pair  — if the resistance of $1.1610-20 (October 20 low, MA (200) H1) is broken, then the pair may fall to $1.1570 (October 18 low)

    An alternative scenario — correction and there may be an increase in the pair to $1.1670 (October 19 and 21 high)



  • 14:24

    The USD/CAD is testing the MA 200 H1 resistance

    On Friday, the USD/CAD traded in different directions in the range of С$1.2320-С$1.2390 and closed the day without significant changes. Today it dropped slightly, dropping to the C$1.2345. On the hourly chart, USD/CAD is testing resistance - the MA (200) H1 (С$1.2375) moving average line. 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 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$1.2320, С$1.2290, С$1.2250-70

    Probably, the main scenario is a continuation of the decline to C$1.2320 (Oct 22 low). An alternative scenario is consolidation above MA (200) H1, followed by growth to C$1.2645 (Oct 6 high).

  • 14:23

    AUD/USD remains above MA 200 H1

    On Friday, the AUD/USD traded in different directions in the range of $0.7455-$0.7510 and closed the day without significant changes. Today it was trading in a narrow range of $0.7465-85, staying close to yesterday's closing price. On the hourly chart, AUD/USD is still trading above the MA line (200) H1 ($0.7440). 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).

  • 13:46

    Gold stays above MA 200 H1

    The XAU/USD was trading higher on Friday and closed the day in positive territory around $1794. Gold traded in a narrow range of $1791-99 today, staying close to Friday's close. On the hourly chart, XAU/USD is still trading above the MA line (200) H1 ($1779). 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: $1813, $1827, $1833

    • Support levels are at: $1783, $1775-77, $1767

    Probably, the main scenario is an upward movement to $1813 (Oct 22 high). An alternative scenario is a final consolidation below the MA 200 H1, followed by a decline to $1722 (Sep 30 low).

  • 13:21

    Oil continues to rise on Friday

    Brent crude traded higher on Friday and closed the day in positive territory around $85.70. Crude oil is also slightly higher today, rising to $86.45. On the hourly chart, Brent is still trading above the moving average MA line (200) H1 ($84.75). 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 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: $86.45, $87.00, $88.00

    • Support levels are at: $84.75, $83.50, $82.45-60

    Probably, the main scenario is a subsequent rise to $86.45 (session high). An alternative scenario is consolidation below MA 200 H1, followed by a decline to $79.60 (Oct 7 low).

  • 13:11

    USD/JPY is testing MA 200 H1 support

    The USD/JPY was trading lower yesterday and closed the day in the red around the Y113.40. Today it, on the contrary, increased slightly, rising to the level of Y113.80. On the hourly chart, USD/JPY is testing its support - the MA (200) H1 (Y113.95) moving average line. On the four-hour chart, it 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: Y114.20, Y114.70, Y115.00

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

    Probably, the main scenario is the continuation of the upward movement to Y114.20 (Oct 22 high). An alternative scenario is consolidation below MA 200 H1, followed by a decline to Y111.20 (Oct 7 low).

  • 13:10

    USD/CHF continues to decline on Friday

    On Friday, the USD/CHF was trading lower and closed the day in the red around the Chf0.9160. It also dropped slightly today, dropping to Chf0.9150. On the hourly chart, USD/CHF is still trading below the moving average MA line (200) H1 (Chf0.9220). 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: Chf0.9205, Chf0.9250, Chf0.9270

    • Support levels are at: Chf0.9150, Chf0.9135, Chf0.9115

    Probably, the main scenario is a subsequent decline to Chf0.9150 (Oct 22 low). Alternative scenario is consolidation above MA 200 H1, with further advance towards Chf0.9335 (Oct 1 high).

  • 12:24

    GBP/USD is testing MA 200 H1 support

    The GBP/USD traded lower on Friday and closed the day in the red around $1.3755. Today it, on the contrary, has grown slightly, rising to the level of $1.3780. On the hourly chart, GBP/USD is testing the strength of the support - the MA line (200) H1 ($1.3735). On the four-hour chart, it 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 GBP/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: $1.3825-35, $1.3910-25, $1.3945-55

    • Support levels are at: $1.3735, $1.3710, $1.3670

    Probably, the main scenario is the continuation of the rise to $1.3825 (high of the American session on Oct 21). An alternative scenario is consolidation below the MA 200 H1 level with a subsequent decline to $1.3590 (Oct 13 low).

  • 12:09

    EUR/USD continues to rise on Friday

    On Friday, the EUR/USD was trading higher and closed the day in positive territory around the price of $1.1635. Today it also rose slightly, rising to $1.1660. On the hourly chart, EUR/USD is still trading above the MA line (200) H1 ($1.1610). 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 to form a 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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