Technical analysis

Technical analysis

28 October 2021
  • 19:59

    NZD/USD is testing MA (200) H1

    Today, the NZD/USD pair is trading in the range of $0.7150-85 and is testing the MA (200) H1 moving average line ($0.7155) on the hourly chart. On the four-hour chart, the pair remains above MA (200) H4 ($0.7035). Technically speaking, a strong resistance level of $0.7195 may keep prices from rising further. If it breaks through, prices may soar to $0.7220. 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 $0.7130-95.


    Resistance levels are: $0.7195, $0.7220, $0.7270

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


    The main scenario for the pair's promotion — resistance breakout is $0.7195 (October 26 high) and there may be an increase to $0.7220 (October 21 high)

    An alternative scenario — support breakout is $0.7130 (October 22-25 and 27 low) and there may be a decline to $0.7050 (October 18 low)


  • 19:51

    USD/JPY pair remains below MA (200) H1

    Today, the USD/JPY pair is trading in the range Y113.50-85 and remains below the moving average line MA (200) H1 (Y114.00) on the hourly chart. On the four-hour chart, the pair is trading well above MA (200) H4 (Y111.95). Technically speaking, a strong support level of Y113.40 can keep prices from further decline. The upper bound of Y114.00 represents the resistance level. The most probable range of the pair's movement for today may be hidden within the range Y113.40-Y114.00.

     

    Resistance levels are: Y114.00, Y114.30, Y114.70-75

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


    The main scenario for the pair's promotion — correction, and there may be an increase to MA (200) H1 (Y114.00)

    An alternative scenario — the pair may decline to Y113.40 (October 22 and 27 low)


  • 19:45

    USD/CHF remains slightly below MA (200) H1

    Today, the USD/CHF pair is trading in the range of Chf0.9165-95 and on the hourly chart remains slightly below the MA (200) H1 moving average line (Chf0.9200). On the four-hour chart, the pair is trading below MA (200) H4 (Chf0.9250). Technically speaking, a strong resistance level of Chf0.9200-05 can keep prices from rising further. The Chf0.9150-65 area represents support levels. The most probable range of the pair's movement for today may be hidden within the range of Chf0.9150-0.9205


    Resistance levels are: Chf0.9200-05, Chf0.9225, Chf0.9250

    Support levels are: Chf0.9150-65, Chf0.9100,  Chf0.9050


    The main scenario for the pair's promotion — breakthrough of the area Chf0.9150-65 (October 25 and 27 lows) and may be a decline to Chf0.9100 (August 30 low)

    An alternative scenario — resistance breakout is Chf0.9200-05 (October 27 high, MA (200) H1) and there may be an increase to Chf0.9225 (October 26 high)


  • 19:08

    EUR/USD is trading near a weekly low

    Today, the EUR/US pair is trading in the range of $1.1580-$1.1615 - about a weekly low. On the four-hour chart, the pair fell below the moving average line of MA (200) H1 ($1.1625) and on the four-hour chart it is trading below MA (200) H4 ($1.1650). Technically speaking, strong support levels of $1.1570-80 can keep prices from further decline. The upper limit of $1.1625 represents resistance levels. The most likely range of price movement for today may be hidden within the range of $1.1570-1.1625.

    Resistance levels are: $1.1625, $1.1670, $1.1705

    Support levels are: $1.1570-80, $1.1525, $1.1425

     

    The main scenario for promoting the pair  — if the area of $1.1570-80 (October 18 low, the session minimum) is broken, then the pair may fall to $1.1525 (October 12 low)

    An alternative scenario — the pair may grow to $1.1625 (October 26 high, MA (200) H1)


  • 14:35

    The USD/CAD is testing the MA 200 H1 resistance

    Yesterday, the USD/CAD was trading lower and closed the day in the red around the C$1.2360. Today it, on the contrary, has grown slightly, rising to the level of С$1.2375. 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 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$1.2430, С$1.2470, С$1.2520

    • Support levels are at: C$1.2290-00, C$1.2270, C$1.2250

    Probably, the main scenario is the continuation of the decline to C$1.2300 (Oct 27 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 traded in different directions in the range of $0.7490-$0.7535 and closed the day without significant changes. Today it dropped slightly, dropping to the level of $0.7480. On the hourly chart, AUD/USD is still trading above the MA line (200) H1 ($0.7480). 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: $0.7475-80, $0.7455, $0.7410

    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 $0.7380 (Oct 18 low).

  • 13:42

    Gold remains above MA 200 H1

    Yesterday, the XAU/USD was trading higher and closed the day in positive territory around $1796. Today gold was trading in a narrow range of $1794-$1803, staying close to yesterday's closing price. On the hourly chart, XAU/USD is still trading above the MA line (200) H1 ($1785). 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: $1810-13, $1827, $1833

    • Support levels are at: $1783-85, $1775-77, $1767

    Probably, the main scenario is an upward movement to $1810 (Oct 25 high). An alternative scenario is a final consolidation below the MA 200 H1, followed by a decline to $1722 (Sep 30 low).

  • 13:29

    Oil fell hard

    Brent crude was trading lower yesterday and closed the day in the red around $84.30. Oil has also dropped significantly today, falling to $82.45. On the hourly chart, Brent has broken through and consolidated below the MA line (200) H1 ($85.30). On the four-hour chart, oil remains above the MA 200 H4 line for now. Based on the foregoing, it is probably worth sticking to the south direction in trading and while Brent 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: $84.30, $86.00, $86.70

    • Support levels are at: $82.45, $79.40-60, $77.25

    Probably, the main scenario is a subsequent decline to $82.45 (session low). An alternative scenario is consolidation above the MA 200 H1 with a subsequent rise to $86.70 (Oct 25 high).

  • 13:00

    USD/JPY testing MA 200 H1 support

    Yesterday, the USD/JPY was trading lower and closed the day in the red around the Y113.80. It also dropped slightly today, dropping to Y113.55. On the hourly chart, USD/JPY is testing its support - the MA (200) H1 (Y114.05) 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: Y114.20-30, 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 27 high). An alternative scenario is consolidation below MA 200 H1, followed by a decline to Y113.00 (Oct 12 low).

  • 12:37

    USD/CHF remains below MA 200 H1

    Yesterday, the USD/CHF was trading lower and closed the day in the red around the Chf0.9180. Today it was trading in a narrow range of Chf0.9175-90, staying close to yesterday's closing price. On the hourly chart, USD/CHF is still trading below the moving average MA (200) H1 (Chf0.9200). 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: Chf0.9200, Chf0.9225, Chf0.9250

    • 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).

  • 12:20

    GBP/USD is testing MA 200 H1 support

    Yesterday the GBP/USD was trading lower and closed the day in the red around $1.3740. Today it was trading in a narrow range of $1.3720-45, staying close to yesterday's closing price. On the hourly chart, GBP/USD is testing the strength of the support - the MA line (200) H1 ($1.3775). 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: $1.3780, $1.3830-35, $1.3910-25

    • Support levels are at: $1.3710, $1.3670, $1.3630

    Probably, the main scenario is the continuation of the rise to $1.3780 (Oct 27 high). An alternative scenario is consolidation below the MA 200 H1 level with a subsequent decline to $1.3590 (Oct 13 low).

  • 12:01

    The EUR/USD continues to test the MA 200 H1 support

    Yesterday the EUR/USD traded in different directions in the range of $1.1585-$1.1625 and closed the day without significant changes. It was also trading in a narrow range of $1.1590-10 today, staying close to yesterday's closing price. On the hourly chart, EUR/USD continues to test the strength of the support - the moving average MA (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: $1.1585, $1.1570, $1.1540

    Probably, the main scenario is continued growth to $1.1625 (Oct 26 high). An alternative scenario is a final consolidation below MA 200 H1, followed by a decline to $1.1540 (Oct 13 low).

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