Technical analysis

Technical analysis

29 October 2021
  • 20:11

    NZD/USD is testing MA (200) H1

    Today, the NZD/USD pair is trading in the range of $0.7160-0.7200 and is testing the MA (200) H1 moving average line ($0.7170) 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 $0.7220 keeps 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 and 28 high) and there may be an increase to $0.7270 (June 2 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)


  • 20:04

    USD/JPY is growing, but remains below MA (200) H1

    Today, the USD/JPY pair is trading mainly with growth in the range Y113.40-85, but on the hourly chart it remains below the moving average line MA (200) H1 (Y113.90). On the four-hour chart, the pair is trading significantly above MA (200) H4 (Y112.05). Technically speaking, if the level of MA (200) H1 (Y113.90) is broken, then the pair can rise to Y114.30. The lower limit of Y113.25 is the support level. The most probable range of the pair's movement for today may be hidden within the range Y113.25-90.

    Resistance levels are: Y113.90, Y114.30, Y114.70-75

    Support levels are: Y113.25, Y113.00, Y112.15


    The main scenario for the pair's promotion — growth to MA (200) H1 (Y113.90) and then, maybe to Y114.30 (October 26 high)

    An alternative scenario — correction and there may be a decrease in the pair to Y113.25 (October 28 low)


  • 19:49

    USD/CHF is trading near a two-month low

    Today, the USD/CHF pair is trading in the range of Chf0.9100-25 - about a two-month low. The pair broke through the support of Chf0.9150 yesterday, which became the nearest resistance. On the hourly chart, it is trading below the moving average line MA (200) H1 (Chf0.9185) and on the four-hour chart - below MA (200) H4 (Chf0.9245). In this situation, a scenario of further decline of the USD/CHF pair is likely. Finding a position to sell can be a wise decision for those who want to take advantage of a stronger Swiss franc.


    Resistance levels are: Chf0.9150, Chf0.9185-95, Chf0.9225

    Support levels are: Chf0.9100, Chf0.9050,  Chf0.9020



    The main scenario for the pair's promotion — support breakthrough of Chf0.9100 (August 30 low, session minimum) and there may be a decline to Chf0.9050 (August 5 low)

    An alternative scenario — correction and there may be an increase to Chf0.9150 (October 22-25 low)


  • 19:38

    GBP/USD is testing MA (200) H1

    Today, the GBP/USD pair is trading in the range of $1.3765-1.3805 and is testing the strength of the MA (200) H1 moving average line ($1.3780) on the hourly chart. On the four-hour chart, the pair remains above MA (200) H4 ($1.3685). Technically speaking, a strong resistance level of $1.3815 can keep prices from rising further. The session low of $1.3765 represents the support level. The most likely range of price movement for today may be hidden within the range of $1.3765-1.3815.


    Resistance levels are: $1.3815-35, $1.3850, $1.3915

    Support levels are: $1.3765, $1.3710-20, $1.3670


    The main scenario for the pair's promotion — the pair may rise to $1.3815-35 (October 19-22, 26 and 28 highs)

    An alternative scenario — breakout of the session low of $1.3765 and there may be a decline to $1.3710-20 (October 18 and 27-28 lows)


  • 19:26

    EUR /USD retreated from a monthly high

    Today, the EUR/US pair is trading with a decline from $1.1690 to $1.1645, retreating from the monthly high reached yesterday. On the four-hour chart, the pair is trading above the moving average line MA (200) H1 ($1.1630) and on the four-hour chart it is testing MA (200) H4 ($1.1650). Technically speaking, strong levels of MA (200) H1 ($1.1630) can keep prices from further decline. The upper limit of $1.1690 represents the resistance level. The most likely range of price movements for today may be hidden within the range of $1.1630-90.


    Resistance levels are: $1.1690, $1.1750, $1.1790

    Support levels are: $1.1630, $1.1570-80, $1.1525

     

    The main scenario for promoting the pair  — correction, and there may be an increase of $1.1690 (September 29 and October 28 high)

    An alternative scenario — if the level of MA (200) H1 ($1.1630) is broken, the pair may fall to $1.1570-80 (October 18 and 28 lows)

  • 14:17

    The USD/CAD is testing the MA 200 H1 resistance

    Yesterday the USD/CAD traded in different directions in the range of С$1.2330-С$1.2280 and closed the day without significant changes. Today it was trading in a narrow range of C$1.2340-60, staying close to yesterday's closing price. On the hourly chart, USD/CAD is testing resistance - the MA (200) H1 (С$1.2355) 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$1.2380, С$1.2430, С$1.2470

    • 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).

  • 14:11

    AUD/USD is trading near July highs

    Yesterday the AUD/USD was trading higher and closed the day in positive territory around the $0.7540. Today it was trading in a narrow range of $0.7525-55, staying close to the July highs. On the hourly chart, AUD/USD is still trading above the MA line (200) H1 ($0.7495). 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: $0.7555, $0.7595-15, $0.7645

    • Support levels are at: $0.7505, $0.7475-80, $0.7455

    Probably, the main scenario is an upward movement to $0.7555 (Oct 28 high). Alternative scenario is consolidation below MA 200 H1, followed by a decline to $0.7380 (Oct 18 low).

  • 13:44

    Gold stays above MA 200 H1

    Yesterday the XAU/USD traded in different directions in the range of $1792-$1810 and closed the day without significant changes. Today gold was trading in a narrow range of $1794-00, staying close to yesterday's closing price. On the hourly chart, XAU/USD is still trading above the MA line (200) H1 ($1789). 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 28 high). An alternative scenario is a final consolidation below the MA 200 H1, followed by a decline to $1722 (Sep 30 low).


  • 13:44

    Oil is testing support for MA 200 H1

    Brent crude traded higher yesterday and closed the day in positive territory around $84.80. Oil was trading in a narrow range of $84.30-90 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 ($85.20). 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: $86.00, $86.70, $88.00

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

    Probably, the main scenario is the subsequent rise to $86.00 (high of the American session on Oct 27). An alternative scenario is consolidation of the MA 200 H1 niche with a subsequent rise to $82.40 (Oct 28 low).

  • 13:09

    USD/JPY continues to test support for MA 200 H1

    Yesterday, the USD/JPY was trading lower and closed the day in the red around the Y113.55. Today it was trading in a narrow range of Y113.40-70, staying close to yesterday's closing price. On the hourly chart, USD/JPY continues to test the strength of the 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: Y114.20-30, Y114.70, Y115.00

    • Support levels are at: Y113.25, 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).

  • 12:38

    USD/CHF is trading near 9-week low

    Yesterday, the USD/CHF was trading lower and closed the day in the red around the Chf0.9120. Today it was trading in a narrow range of Chf0.9110-20, staying close to a 9-week low. On the hourly chart, USD/CHF is still trading below the moving average MA line (200) H1 (Chf0.9190). 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: Chf0.9195-00, Chf0.9225, Chf0.9250

    • Support levels are at: Chf0.9100-10, Chf0.9070, Chf0.9050

    Probably, the main scenario is a subsequent decline to Chf0.9110 (session low). Alternative scenario is consolidation above MA 200 H1, with further advance towards Chf0.9270 (Oct 18 high).

  • 12:20

    GBP/USD remains above MA 200 H1

    Yesterday the GBP/USD was trading higher and closed the day in positive territory around $1.3795. Today it was trading in a narrow range of $1.3790-05, staying close to yesterday's closing price. On the hourly chart, GBP/USD is still trading above the MA line (200) H1 ($1.3775). 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: $1.3830-35, $1.3910-25, $1.3945-55

    • Support levels are at: $1.3730, $1.3710, $1.3670

    Probably, the main scenario is the continuation of the rise to $1.3830 (Oct 26 high). 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 trading near a 5-week high

    Yesterday the EUR/USD was trading higher and closed the day in positive territory around the $1.1680. Today it was trading in a narrow range of $1.1675-90, staying close to a 5-week high. On the hourly chart, EUR/USD is still trading above the MA line (200) H1 ($1.1625). 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: $1.1690-00, $1.1725, $1.1750-55

    • Support levels are at: $1.1625, $1.1575-85, $1.1540

    Probably, the main scenario is continued growth to $1.1690 (Oct 28 high). An alternative scenario is a final consolidation below the MA 200 H1, followed by a decline to $1.1540 (Oct 13 low).

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