Technical analysis

Technical analysis

26 October 2021
  • 20:10

    NZD/USD remains above MA (200) H1

    Today, the NZD/USD pair is trading in the range of $0.7150-90 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 ($0.7130) and on the four-hour chart - above MA (200) H4 ($0.7030). Technically speaking, a strong resistance level of $0.7220 may keep prices from rising further. If it breaks through, prices may soar to $0.7270. The lower bound of $0.7130 represents the support level. The most probable range of the pair's movement for today may be hidden within the range of $0.7130-0.7220.


    Resistance levels are: $0.7220, $0.7270, $0.7315

    Support levels are:  $0.7130, $0.7050, $0.6960


    The main scenario for the pair's promotion — the resistance breakout is $0.7220 (October 21 high) and there may be an increase to $0.7270 (June 2 high)

    An alternative scenario — support breakout of $0.7130 (October 22-25 low, MA (200) H1) and there may be a decline to $0.7050 (October 18 low)


  • 19:46

    USD/JPY is growing and testing MA (200) H1

    Today, the USD/JPY pair is trading mainly with an increase from Y113.70 to Y114.10 - slightly below the four-year high of Y114.70 reached last week. On the hourly chart, the pair is testing the moving average line MA (200) H1 (Y114.00), and on the four-hour chart it is trading significantly above MA (200) H4 (Y111.70). Technically speaking, a strong resistance level Y114.20 can keep prices from further growth. If it breaks through, prices may soar to Y114.70-75. The lower bound of Y113.40 represents the support level. The most probable range of the pair's movement for today may be hidden within the range Y113.40-Y114.20.

     

    Resistance levels are: Y114.20, Y114.70-75, Y115.50

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


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

    An alternative scenario — correction and there may be a decrease to Y113.40 (October 22 low)

  • 19:36

    USD/CHF is testing MA (200) H1

    Today, the USD/CHF pair is trading in the range of Chf0.9190-0.9225 and is testing the MA (200) H1 moving average line (Chf0.9210) on the hourly chart. On the four-hour chart, the pair remains below MA (200) H4 (Chf0.9250). Technically speaking, a strong support level of Chf0.9150 can keep prices down further. The session high of Chf0.9225 represents the resistance level. The most probable range of the pair's movement for today may be hidden within the range of Chf0.9150-0.9225


    Resistance levels are: Chf0.9225, Chf0.9250, 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 and October 22-25 low)

    An alternative scenario — breakout of the session maximum of Chf0.9225 and there may be an increase to Chf0.9250 (October 20 high)


  • 19:18

    GBP/USD rose above MA (200) H1

    Today, the GBP/USD pair has risen sharply from $1.3755 to $1.3825, but remains slightly below the five-week high of $1.3835 reached earlier last week. On the hourly chart, the pair rose above the moving average line MA (200) H1 ($1.3765) 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 $1.3710-35 represents support levels. The most likely range of price movement for today may be hidden within the range of $1.3710-$1.3835.


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

    Support levels are: $1.3765, $1.3710-35, $1.3670


    The main scenario for the pair's promotion — resistance breakout of $1.3835-50 (September 15-16 and October 19-21 highs) and may be an increase to $1.3915 (September 14 high)

    An alternative scenario — correction and may be a decline to $1.3710-35 (October 18 and 22 lows)


  • 19:05

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

    Today, since the start of trading, the EUR/US pair has slightly decreased from $1.1610 to $1.1595, but during European trading it rose sharply to the level of the moving average MA (200) H1 ($1.1625). On the four-hour chart, it is trading below MA (200) H4 ($1.1665). Technically speaking, a strong resistance level of $1.1670 may keep prices from rising further. The lower bound of $1.1570-90 represents the support level. The most likely range of price movement for today may be hidden within the range of $1.1570-1.1670.


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

    Support levels are: $1.1570-90, $1.1525, $1.1425

     

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

    An alternative scenario — correction and may be a decline to $1.1570-90 (October 18 and 25 lows)


  • 14:10

    The USD/CAD is testing the MA 200 H1 resistance

    Yesterday the USD/CAD traded in different directions in the range of С$1.2340-00 and closed the day without significant changes. Today it also traded in a narrow range of C$1.2370-85, staying close to yesterday's closing price. On the hourly chart, USD/CAD is testing resistance - the MA (200) H1 (C$1.2360) moving average line. On the four-hour chart, it remains below the MA 200 H4 line for now. 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$1.2320, С$1.2290, С$1.2250-70

    Probably, the main scenario is the 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).

  • 14:05

    AUD/USD continues to rise yesterday

    Yesterday the AUD/USD was trading higher and closed the day in positive territory around the $0.7490. Today it also rose slightly, rising to the $ 0.7515 level. On the hourly chart, AUD/USD is still trading above the MA line (200) H1 ($0.7455). 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). An alternative scenario is consolidation below MA 200 H1, followed by a decline to $0.7225 (Oct 6 low).

  • 13:42

    Gold remains above MA 200 H1

    Yesterday, the XAU/USD was trading higher and closed the day in positive territory around the $1806. Today gold was trading in a narrow range of $1802-08, staying close to yesterday's closing price. On the hourly chart, XAU/USD is still trading above the MA line (200) H1 ($1784). 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).


  • 13:28

    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 $85.70-$86.50 today, staying close to the October 2018 highs. On the hourly chart, Brent is still trading above the moving average MA (200) H1 ($84.90). 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: $86.70, $88.00, $89.00

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

    Probably, the main scenario is a subsequent rise to $86.70 (Oct 25 high). An alternative scenario is consolidation below MA 200 H1, followed by a decline to $79.60 (Oct 7 low).

  • 13:08

    USD/JPY is testing MA 200 H1 support

    Yesterday the USD/JPY was trading higher and closed the day in positive territory around the Y113.70. It also rose slightly today, climbing to Y113.90. On the hourly chart, USD/JPY continues to test the strength of the support - the moving average MA (200) H1 (Y114.00). 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: Y113.30-40, 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 Y113.00 (Oct 12 low).

  • 12:39

    The USD/CHF is testing the MA 200 H1 resistance

    Yesterday, the USD/CHF was trading higher and closed the day in positive territory around the Chf0.9195. Today it also rose slightly, climbing to Chf0.9205. On the hourly chart, USD/CHF is testing resistance - the MA (200) H1 (Chf0.9210) moving average line. On the four-hour chart, it remains below the MA 200 H4 line for now. 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: Chf0.9210, 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 25 low). Alternative scenario is consolidation above MA 200 H1, with further advance towards Chf0.9335 (Oct 1 high).

  • 12:17

    GBP/USD is testing MA 200 H1 support

    Yesterday the GBP/USD traded in different directions in the range of $1.3740-$1.3790 and closed the day without significant changes. It was also trading in a narrow range of $1.3755-70 today, staying close to yesterday's closing price. On the hourly chart, GBP/USD is testing the strength of the support - the moving average MA (200) H1 ($1.3755). 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).

  • 12:02

    EUR/USD is testing MA 200 H1 support

    Yesterday the EUR/USD was trading lower and closed the day in the red around the $1.1610. Today it was trading in a narrow range of $1.1595-10, staying close to yesterday's closing price. On the hourly chart, EUR/USD is testing the strength of the support - the MA line (200) H1 ($1.1620). On the four-hour chart, it remains below 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 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: $1.1625, $1.1665-70, $1.1700

    • Support levels are at: $1.1590, $1.1570, $1.1540

    Probably, the main scenario is continued growth to $1.1625 (high of the American session on Oct 25). An alternative scenario is final consolidation below MA 200 H1, followed by a decline to $1.1540 (Oct 13 low).

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