Andy.atx Posted January 23, 2020 Share Posted January 23, 2020 EUR/JPY: TECHNICAL ANALYSIS 23.01.20 Current trend On the 4-hour chart, the instrument is falling along the lower line of the Bollinger Bands. Now the price is testing the 121.424 support. Assuming the pair’s ability to cross this level, the mark of 121.094 can be targeted if holding short positions. Alternative scenario The upward rebound from 121.424 support and pullback above 121.626 will be a sign of upward correction development and give a prospect of growth to the 121.875 resistance. The area of 121.875-121.985 resistance seems a strong resistance zone, which can activate a downward reverse. However, the breakout of 122.00 will accelerate the pair towards 122.266 resistance level. Technical indicators Technical indicators maintain a sell signal. Bollinger Bands are diverging on the background of bearish momentum. MACD is growing in the negative zone. Stochastic’s lines are pointed downwards and are reaching the oversold area. Support and resistance Support levels: 121.424, 121.094, 120.703. Resistance levels: 121.626, 121.875, 121.985, 122.266. Trading recommendations Short positions can be opened below the level of 121.424 with the target at around 121.094 and stop-loss at 121.534. Long positions can be opened above the level of 121.626 with the target at around 121.875 and stop-loss at 121.543. Link to comment Share on other sites More sharing options...
Andy.atx Posted January 23, 2020 Share Posted January 23, 2020 XAU/USD: TECHNICAL ANALYSIS 23.01.20 Current trend XAU/USD quotes attempted to grow, but reaching 1563.65 mark moved to a decline. Now the price is trying to consolidate below the middle line of Bollinger Bands (1558.40). Pair’s sustained trading below this level could lead the price back to 1554.69 support. This level can activate an upward rebound, while its breakout will be a signal for downward trend resumption and let the price fall to the area of 1550.09 support Alternative scenario The upward rebound from 1558.40 support and pullback above the 1560.00 resistance will let the price retest 1562.50-1563.65 resistance. Significant growth is possible after the breakout of the 1563.65 level. In this case, the next targets of buyers will be the resistance level of 1567.11-1568.53. Technical indicators The technical picture is mixed. Bollinger Bands are pointed sideways. MACD is growing in a positive zone, keeping a weak buy signal. Stochastic has left the overbought area and is pointed downwards, reflecting the high possibility of the downward movement formation. Support and resistance Support levels: 1558.40, 1554.69, 1550.09. Resistance levels: 1560.00, 1562.50, 1563.65, 1567.50. Trading recommendations Short positions can be opened below the level of 1558.40 with the target at around 1554.69 and stop-loss at 1559.70. Long positions can be opened above the level of 1560.00 with the target at around 1563.65 and stop-loss at 1561.20. Link to comment Share on other sites More sharing options...
Andy.atx Posted January 23, 2020 Share Posted January 23, 2020 NZD/USD: TECHNICAL ANALYSIS 23.01.20 Current trend NZD/USD bounced off the 0.65850 horizontal-support but is yet to cross the 0.66004 resistance, which coincided with the middle line of Bollinger Bands. The instrument has the potential to further decline. To continue a downward dynamic NZD/USD should consolidate below the 0.65850 support. In this case, the next targets of sellers will be the level of 0.65765-0.65657. Alternative scenario If the "bulls" manage to raise the rate above the level of 0.65994, the correction can continue to the area of 0.66071-0.66147. The decisive break of 0.66147 is needed to indicate the upward trend resumption. In this case, the buyers will have their sights on 0.66223-0.66299 resistance area. Technical indicators Technical indicators maintain a sell signal. Bollinger Bands are diverging on the background of bearish momentum. MACD is growing in the negative zone. Stochastic’s lines are pointed downwards and are reaching the oversold area. Support and resistance Support levels: 0.65842, 0.65765, 0.65657. Resistance levels: 0.65994, 0.66071, 0.66147, 0.66223. Trading recommendations Short positions can be opened below the level of 0.65842 with the target at around 0.65765-0.65567 and stop-loss at 0.65933. Long positions can be opened above the level of 0.65994 with the target at around 0.66071-0.66223 and stop-loss at 0.65917. Link to comment Share on other sites More sharing options...
Andy.atx Posted January 24, 2020 Share Posted January 24, 2020 USD/CHF: TECHNICAL ANALYSIS 24.01.20 Current trend Today USD/CHD price is moderately growing and is now approaching the resistance level of 0.97046. Assuming the pair’s ability to cross this level, the mark of 0.97280 and the 0.97351 can be targeted if holding long positions. The level of 0.97351 can activate a downward reverse of the price. However, the decisive break of 0.97351 will give a prospect of growth to the 0.97656 resistance, which is the key “bullish” level for the short term period. Alternative scenario The downward rebound from 0.97046 and pullback below 0.96829 will be a sign of downward movement resumption and let the price decline to 0.96678 support. There is a chance of an upward rebound, while its breakdown would trigger a pair’s fresh decline to the one-week low surrounding the 0.96436 support. Technical indicators Technical indicators maintain a buy signal. Bollinger Bands are diverging on the background of bullish momentum. MACD is growing in a positive zone. Stochastic is pointed upwards, reflecting the high possibility of upward movement formation. Support and resistance Support levels: 0.96829, 0.96678, 0.96436. Resistance levels: 0.97046, 0.97280, 0.97351, 0.97656. Trading recommendations Short positions can be opened below the level of 0.96829 with the target at around 0.96678-0.96436 and stop-loss at 0.96960. Long positions can be opened above the level of 0.97046 with the target at around 0.97280-0.97351 and stop-loss at 0.96944. Link to comment Share on other sites More sharing options...
Andy.atx Posted January 24, 2020 Share Posted January 24, 2020 USD/CAD: TECHNICAL ANALYSIS 24.01.20 Current trend USD/CAD is in the stage of consolidation after falling to the level of 1.31233, but the downward potential is still maintained. In case the pair manage to cross 1.31233 support, the next target of the sellers will be 1.31050 level (coincided with the middle line of Bollinger Bands). There is a chance of an upward rebound, while its breakdown would allow the fall to continue to the area of 1.30920. Alternative scenario The upward rebound from 1.331226 and pullback above 1.31381 will be a signal for upward correction formation and give a prospect of growing to the 1.31531 resistance. Should prices continue growing above 1.31531 the level of 1.31707 might try activating a downward rebound. Technical indicators Technical indicators maintain a sell signal. Bollinger Bands are converging on the background of bearish momentum. MACD volumes are decreasing in the positive zone. Stochastic’s lines are pointed downwards and are reaching the oversold area. Support and resistance Support levels: 1.31226, 1.30920, 1.30615. Resistance levels: 1.31381, 1.31531, 1.31707. Trading recommendations Short positions can be opened below the level of 1.31226 with the target at around 1.30920 and stop-loss at 1.31328. Long positions can be opened above the level of 1.31381 with the target at around 1.31531-1.31707 and stop-loss at 1.31272. Link to comment Share on other sites More sharing options...
Andy.atx Posted January 24, 2020 Share Posted January 24, 2020 EUR/USD: TECHNICAL ANALYSIS 24.01.20 Current trend On the 4-hour chart, the instrument keeps a negative dynamic. Now the pair is testing the strong support level of 1.10474. The breakdown of this level will give a prospect of decline to 1.10359-1.10321. This area seems a strong support zone which can activate an upward rebound. However, the decisive break of 1.10321 is needed to indicate the downward trend resumption. In this case, the next target of sellers will be the level of 1.10168. Alternative scenario The upward rebound from 1.10474 and pullback above 1.10579 will be a sign of upward correction and let the price grow to the area of 1.10626-1.10779. This area will be a key target of the upward correction and can activate a downward reverse. Meanwhile, a breakout of 1.10779 will be a signal of the upward trend restoring. In this case, the buyers will have their sight on 1.10931-1.11084. Technical indicators Technical indicators maintain a sell signal. Bollinger Bands are diverging on the background of bearish momentum. MACD is growing in a positive zone. Stochastic’s lines are pointed downwards and are reaching the oversold area. Support and resistance Support levels: 1.10474, 1.10321, 1.10168. Resistance levels: 1.10626, 1.10779, 1.10931, 1.11084. Trading recommendations Short positions can be opened below the level of 1.10474 with the target at around 1.10321-1.10168 and stop-loss at 1.10576. Long positions can be opened above the level of 1.10626 with the target at around 1.10779-1.10931 and stop-loss at 1.10524. Link to comment Share on other sites More sharing options...
Andy.atx Posted January 27, 2020 Share Posted January 27, 2020 AUD/USD: TECHNICAL ANALYSIS 27.01.20 Current trend On the 4-hour chart, the instrument keeps a negative dynamic. The price went down below the level of 0.68054 and can fall further to the level of 0.67749. This level can prevent the instrument from falling, as the possibility of the reverse of the price is high there. Meanwhile, the breakdown and pair’s sustained trading below this level will be a signal for downward trend resumption and let the price decline to 0.67596-0.67444. Alternative scenario The pullback above 0.68176 will be a signal of upward correction formation and let the price grow to the area of 0.68359-0.68407. This area seems a key target of the upward movement and can activate a downward rebound. One may speak about upward movement continuation after the price consolidates above the resistance level of 0.68407. In this case, the next targets of buyers will be the level of 0.68665. Technical indicators Technical indicators maintain a sell signal. Bollinger Bands are diverging on the background of bearish momentum. MACD is growing in the negative zone. Stochastic’s lines are pointed downwards and are reaching the oversold area. Support and resistance Support levels: 0.68054, 0.67749, 0.67596, 0.67444. Resistance levels: 0.68176, 0.68359, 0.68665. Trading recommendations Short positions can be opened below the level of 0.68054 with the target at around 0.67749 and stop-loss at 0.68155. Long positions can be opened above the level of 0.68176 with the target at around 0.68359-0.68407and stop-loss at 0.68099. Link to comment Share on other sites More sharing options...
Andy.atx Posted January 27, 2020 Share Posted January 27, 2020 USD/JPY: TECHNICAL ANALYSIS 27.01.20 Current trend USD/JPY is in the stage of upward correction after falling to the level of 108.725, but the general downward trend is still maintained. If the "bulls" manage to raise the rate above the level of 109.180, the correction can continue to the area of 109.375-109.462. Judging by the upward bias of the Stochastic, this case scenario seems possible soon. The level of 109.462 seems a strong resistance, which can activate a downward rebound. Alternative scenario The pullback and below 108.984 could lead the price back to 108.725 support. Further close below this level could trigger a pair’s fresh downside to a 3-weeks low surrounding 108.594 support. This level can activate an upward rebound while its breakdown will be a signal for downward trend resumption and let the price decline to 108.398-108.203 support area. Technical indicators Technical indicators mostly keep a sell signal, but the upward correction is possible in the short term. Bollinger Bands are diverging on the background of bearish momentum. MACD is growing in the negative zone. Stochastic is pointed upwards, reflecting the high possibility of upward movement formation. Support and resistance Support levels: 108.984, 108.725, 108.594, 108.398. Resistance levels: 109.180, 109.375, 109.570, 109.766. Trading recommendations Short positions can be opened below the level of 108.725 with the target at around 108.594-108.398 and stop-loss at 108.834. Long positions can be opened above the level of 109.180 with the target at around 109.375-109.462 and stop-loss at 109.086. Link to comment Share on other sites More sharing options...
Andy.atx Posted January 27, 2020 Share Posted January 27, 2020 GBP/USD: TECHNICAL ANALYSIS 27.01.20 Current trend The GBP/USD pair begins today’s trading with a slight bearish bias. The price went down below the support level of 1.30615 and can decline further to the level of 1.30463-1.30310. The area of 1.30310 level can activate an upward rebound, while its breakdown will be a signal for downward trend resumption and let the price fall to the area of 1.30005. Alternative scenario The pullback above 1.30768 resistance will be a signal of upward correction formation and give a prospect of growth to 1.30920. The area of 1.30920-1.31000 (middle line of Bollinger Bands) seems a key target of the correction movement. There is a high chance of a downward reverse of the price. However, the decisive breakout of 1.31000 is needed to indicate the upward trend resumption. In this case, the next targets of buyers will be the area of levels 1.31226-1.31325. Technical indicators Technical indicators maintain a sell signal. Bollinger Bands are diverging on the background of bearish momentum. MACD volumes are actively decreasing in the positive zone. Stochastic’s lines are pointed downwards and are reaching the oversold area. Support and resistance Support levels: 1.30615, 1.30310, 1.29700. Resistance levels: 1.30920, 1.31226, 1.31531. Trading recommendations Short positions can be opened below the level of 1.30615 with the target at around 1.30310 and stop-loss at 1.30715. Long positions can be opened above the level of 1.30000 with the target at around 1.31226-1.31325 and stop-loss at 1.29900. Link to comment Share on other sites More sharing options...
Andy.atx Posted January 28, 2020 Share Posted January 28, 2020 XAU/USD: TECHNICAL ANALYSIS 28.01.20 Current trend The XAU/USD pair begins today’s trading with a slight bearish bias. At the moment the price has met the resistance at the level of 1578.13. The decisive break of this level is needed to indicate the downward trend resumption. In this case, the sellers will aim for the 1575.67-1570.31 support zone. Alternative scenario The upward rebound from 1578.13 and pullback above 1582.11 will be a signal for upward trend resumption and let the price grow to 1585.94 resistance. This level seems a key level for the buyers in the short term period. There is a high chance of a downward rebound, while its breakout would allow the growth to continue to 1588.22. Technical indicators Technical indicators mostly maintain a buy signal. Bollinger Bands are pointed upwards. MACD is growing in a positive zone. Stochastic lines are pointed sideways. Support and resistance Support levels: 1578.13, 1575.67, 1570.31. Resistance levels: 1582.11, 1585.14, 1588.22. Trading recommendations Short positions can be opened below the level of 1578.13 with the target at around 1575.67 and stop-loss at 1579.13. Long positions can be opened above the level of 1582.11 with the target at around 1585.94 and stop-loss at 1581.11. Link to comment Share on other sites More sharing options...
Andy.atx Posted January 28, 2020 Share Posted January 28, 2020 USD/JPY: TECHNICAL ANALYSIS 28.01.20 Current trend NZD/USD is in the stage of upward correction after falling to the level of 0.65342, but the general downward trend is still maintained. The first strong resistance will be the level of 0.65476. This level can activate a downward rebound. However, the breakout of this level will be a signal of upward correction resumption and let the price grow to 0.65613 area. The breakout of this level can accelerate the pair towards 0.65918 area, but the middle line of Bollinger bands could restrict further rise. Alternative scenario The downward trend will be restored after the price is set below the level of 0.65308. In this case, the next targets of sellers will be the level of 0.65000. Technical indicators Technical indicators maintain a sell signal. Bollinger Bands are diverging on the background of bearish momentum. MACD is growing in the negative zone. Stochastic is preparing to exit the oversold zone and is directed upwards, signaling the development of an upward correction. Support and resistance Support levels: 0.65308, 0.65000, 0.64700. Resistance levels: 0.65476, 0.65613, 0.65918. Trading recommendations Short positions can be opened below the level of 0.65308 with the target at around 0.65000 and stop-loss at 0.65408. Long positions can be opened above the level of 0.65476 with the target at around 0.65613-0.65780 and stop-loss at 0.65374. Link to comment Share on other sites More sharing options...
Andy.atx Posted January 28, 2020 Share Posted January 28, 2020 EUR/JPY: TECHNICAL ANALYSIS 28.01.20 Current trend On the 4-hour chart, еhe price has tested the support level of 119.900 and was slightly corrected upwards, but the general downward trend maintains. The first target of the upward movement will be 120.313-120.390 resistance area. This level can prevent the instrument from growing, as the possibility of the reverse of the price is high there. Meanwhile, the breakout of 120.390 and pair’s sustained trading above it will give a prospect of growth to the 120.703 resistance, which coincided with the middle line of Bollinger Bands. Alternative scenario The downward rebound from 120.313 resistance and pullback below 120.100 could lead the price back to 119.900 support. The downward trend will be restored after the price is set below this level. In this case, the next targets of sellers will be the level of 119.653. Technical indicators Technical indicators mostly keep a sell signal, but the upward correction is possible in the short term. Bollinger Bands are pointed downwards. MACD volumes have decreased in the negative zone, but still keeping a sell signal Stochastic is pointed upwards, reflecting the high possibility of upward movement formation. Support and resistance Support levels: 119.900, 119.653, 119.531. Resistance levels: 120.313, 120.703, 121.094. Trading recommendations Short positions can be opened below the level of 119.900 with the target at around 119.653 and stop-loss at 119.982. Long positions can be opened above the level of 120.390 with the target at around 120.703 and stop-loss at 120.285. Link to comment Share on other sites More sharing options...
Andy.atx Posted January 29, 2020 Share Posted January 29, 2020 USD/CHF: TECHNICAL ANALYSIS 29.01.20 Current trend On the 4-hour chart, the instrument is growing along the upper line of the Bollinger Bands. The price went up above the level of 0.97351 and has potential for further growth to the one-month high surrounding 0.97656 resistance. This level can prevent the instrument from growing, as the possibility of the reverse of the price is high there. Meanwhile, the breakout of 0.97656 and the pair’s sustained trading above it will give a prospect of growth to the 0.97961 resistance. Alternative scenario The pullback below 0.97275 will be a sign of downward correction formation and let the price decline to 0.97198-0.97100. The area of 0.97100-0.97046 seems a strong support area which can activate an upward rebound. However, the breakdown and pair’s sustained trading below this level will be a signal for downward trend resumption and let the price fall to the area of 0.96741. Technical indicators Technical indicators maintain a buy signal. Bollinger Bands are diverging on the background of bullish momentum. MACD is growing in a positive zone. Stochastic is in the overbought area and is pointed upwards, reflecting the high possibility of upward movement formation. Support and resistance Support levels: 0.97351, 0.97046, 0.96741. Resistance levels: 0.97436, 0.97656, 0.97961. Trading recommendations Short positions can be opened below the level of 0.97275 with the target at around 0.97046 and stop-loss at 0.97345. Long positions can be opened above the level of 0.97436 with the target at around 0.97656 and stop-loss at 0.97362. Link to comment Share on other sites More sharing options...
Andy.atx Posted January 29, 2020 Share Posted January 29, 2020 USD/CAD: TECHNICAL ANALYSIS 29.01.20 Current trend USD/CAD is in the stage of upward correction after falling to the level of 1.31537, but the downward trend is still maintained. If the "bulls" manage to raise the rate above the level of 1.31683, the correction can continue to the area of 1.31836. This level seems a strong resistance which can activate a downward rebound. However, the decisive break of 1.31683 is needed to indicate uptrend resumption. In this case, the buyers will have their sights on the 1.31989-1.32141 area. Alternative scenario The downward trend will be restored after the price is set below the level of 1.31531. In this case scenario, the next targets of sellers will be the levels of 1.31378-1.31226. Technical indicators Technical indicators mostly keep a sell signal, but the upward correction is possible in the short term. Bollinger Bands are pointed upwards. MACD volumes are decreasing in the positive zone. Stochastic is in the oversold area and is pointed sideways, reflecting the relative calmness of the markets and sideways movement of the price. Support and resistance Support levels: 1.31531, 1.31378, 1.31226. Resistance levels: 1.31683, 1.31836, 1.31989. Trading recommendations Short positions can be opened below the level of 1.31531 with the target at around 1.31378-1.31226 and stop-loss at 1.31631. Long positions can be opened above the level of 1.31683 with the target at around 1.31836-1.31989 and stop-loss at 1.31583. Link to comment Share on other sites More sharing options...
Andy.atx Posted January 29, 2020 Share Posted January 29, 2020 EUR/USD: TECHNICAL ANALYSIS 29.01.20 Current trend Today EUR/USD quotes attempted to grow, but reaching 1.10272 (the middle line of Bollinger Bands) mark moved to a decline. The price went down below the 1.10168 line and has the potential for a further decline to 1.09974. This level will probably activate an upward rebound, while its breakdown will let the price fall to 1.09863 support. This level seems a key sellers target for the short-term period. Alternative scenario The pullback above 1.10168 will let the price retest the 1.10272 resistance. Additionally, pair’s sustained trading above this level will be a signal for upward trend resumption and let the price grow to the 1.10474 resistance. Technical indicators Technical indicators mostly keep a sell signal but the upward correction is possible in the short term. Bollinger Bands are pointed downwards. MACD histogram is in the negative zone keeping a signal for the opening of sell positions. Stochastic is pointed upwards, reflecting the high possibility of upward movement formation. Support and resistance Support levels: 1.09974, 1.09863, 1.09558, 1.09253. Resistance levels: 1.10168,1.10272, 1.10474, 1.10779. Trading recommendations Short positions can be opened below the level of 1.09974 with the target at around 1.09863-1.09558 and stop-loss at 1.10112. Long positions can be opened above the level of 1.10272 with the target at around 1.10474 and stop-loss at 1.10204. Link to comment Share on other sites More sharing options...
Andy.atx Posted January 30, 2020 Share Posted January 30, 2020 AUD/USD: TECHNICAL ANALYSIS 30.01.20 Current trend On the 4-hour chart, AUD/USD price went down below the level of 0.67444 support and can fall further to the level of 0.67139. This level seems a strong support zone which can activate an upward rebound. However, the breakdown of this level can accelerate the pair's decline towards 0.66833 support. Alternative scenario The pullback above 0.67444 could lead the price back to 0.67624-0.67749 resistance zone. This area can prevent the instrument from growing, as the possibility of the reverse of the price is high there. However, the further close above this area may push AUD/USD price towards the level of 0.68084. Technical indicators Technical indicators maintain a sell signal. Bollinger Bands are converging on the background of bearish momentum. MACD is growing in the negative zone. Stochastic’s lines are pointed downwards and are reaching the oversold area. Support and resistance Support levels: 0.67306, 0.67139, 0.66833. Resistance levels: 0.67444, 0.67749, 0.68054. Trading recommendations Short positions can be opened below the level of 0.67306 with the target at around 0.67139-0.67000 and stop-loss at 0.67406. Long positions can be opened above the level of 0.67444 with the target at around 0.67749 and stop-loss at 0.67342 Link to comment Share on other sites More sharing options...
Andy.atx Posted January 30, 2020 Share Posted January 30, 2020 USD/JPY: TECHNICAL ANALYSIS 30.01.20 Current trend On the 4-hour chart, the instrument keeps a negative dynamic and approaching strong support in the region of 108.789-108.750. Assuming the pair’s ability to cross this area, the level of 108.594 can be targeted if holding short positions. The consolidation below 108.594 it will give the prospect of decline to the level of 108.398. Alternative scenario The upward rebound from 108.789 and pullback above the 108.984 resistance ( the middle line of Bollinger Bands) will be a sign of upward correction formation and let the price grow to 109.375 resistance. The decisive break of this level is needed to indicate the upward trend resumption. In this case, the next targets of buyers will be the level of 109.570. Technical indicators Technical indicators maintain a sell signal. Bollinger Bands are diverging on the background of bearish momentum. MACD is growing in the negative zone. Stochastic’s lines are pointed downwards and are reaching the oversold area. Support and resistance Support levels: 109.789, 108.594, 108.398. Resistance levels: 108.984, 109.180, 109.375. Trading recommendations Short positions can be opened below the level of 108.750 with the target at around 108.594-108.398 and stop-loss at 108.867. Long positions can be opened above the level of 108.984 with the target at around 109.180-109.375 and stop-loss at 108.853. Link to comment Share on other sites More sharing options...
Andy.atx Posted January 30, 2020 Share Posted January 30, 2020 GBP/USD: TECHNICAL ANALYSIS 30.01.20 Current trend GBP/USD quotes today continues to consolidate in the narrow side channel 1.29979-1.30248, but the general downward trend is still maintained. The breakdown of 1.29979 will let the price decline to the area 1.29888-1.29700. The 1.29700 level will be a key mark for the short-term sellers. There is a chance of an upward rebound, while its breakdown would allow the fall to continue to 1.29395. Alternative scenario The upward rebound from the 1.30005 support could lead the price back to 1.30248-1.30310 resistance. The decisive break of 1.30310 (the middle line of Bollinger Bands) is needed to indicate the upward trend resumption. In this case, the next targets of buyers will be the 1.30615 resistance. Technical indicators The technical picture is mixed. Bollinger Bands are pointed downwards. MACD volumes are in the negative zone and are moving along the zero line, keeping a sell signal. Stochastic’s lines are pointed upwards and are reaching the overbought area, forming a buy signal. Support and resistance Support levels: 1.29979, 1.29700, 1.29395. Resistance levels: 1.30310, 1.30615, 1.30920. Trading recommendations Short positions can be opened below the level of 1.29979 with the target at around 1.29700 and stop-loss at 1.30072. Long positions can be opened above the level of 1.30310 with the target at around 1.30615 and stop-loss at 1.30210. Link to comment Share on other sites More sharing options...
Andy.atx Posted January 31, 2020 Share Posted January 31, 2020 EUR/JPY: TECHNICAL ANALYSIS 31.01.20 Current trend EUR/JPY quotes attempted to grow, but reaching 120.394 mark moved to a downward correction. The decisive break of 120.394 is needed to indicate the upward trend resumption. In this case, the next targets of buyers will be the level of 120.703. Alternative scenario If the sellers manage to decline the rate below the level of 120.189, the correction can continue to the area of 120.050, which coincided with the middle line of Bollinger Bands. This level seems a key target of the downward correction movement and can activate an upward rebound. However, the breakdown of 120.000 and the pair’s sustained trading below this level will be a signal for downward trend resumption. In this case, the next targets of sellers will be the level of 119.922-119.763. Technical indicators Technical indicators maintain a buy signal. Bollinger Bands are diverging on the background of bullish momentum. MACD volumes are decreasing in the negative zone. Stochastic is pointed upwards, reflecting the high possibility of upward movement formation. Support and resistance Support levels: 120.050, 119.922, 119.763. Resistance levels: 120.394, 120.703, 121.094. Trading recommendations Short positions can be opened below the level of 120.050 with the target at around 119.922-119.763 and stop-loss at 120.150. Long positions can be opened above the level of 120.394 with the target at around 120.703 and stop-loss at 120.291. Link to comment Share on other sites More sharing options...
Andy.atx Posted January 31, 2020 Share Posted January 31, 2020 NZD/USD: TECHNICAL ANALYSIS 31.01.20 Current trend On the 4-hour chart, the instrument is falling along the lower line of the Bollinger Bands. If the current trend maintains, the next target of the sellers will be 0.64697 level. This level is able to activate an upward rebound, while its breakdown would be a signal for downward trend development. The pair’s sustained trading below 0.64697 will give a prospect of decline to 0.64392 support. Alternative scenario The pullback above 0.65002 will be a sign of upward correction formation and let the price grow to 0.65152 resistance, which coincided with the middle line of Bollinger Bands. This level seems a key target of the upward correction which can prevent the instrument from growing. If the “bulls” manage to raise the rate above the level of 0.65308, the correction can continue to the area of 0.65308, after the breakout of which, it is better to enter the market with new buy orders. In this case, the next targets of buyers will be the level of 0.65613. Technical indicators Technical indicators mostly keep a sell signal, but the upward correction is possible in the short term. Bollinger Bands are diverging on the background of bearish momentum. MACD is growing in the negative zone. Stochastic is in the oversold zone and is pointed upwards, reflecting the high possibility of upward movement formation. Support and resistance Support levels: 0.64697, 0.64392, 0.64087. Resistance levels: 0.65002, 0.65308, 0.65613. Trading recommendations Short positions can be opened below the level of 0.64697 with the target at around 0.64392 and stop-loss at 0.64798. Long positions can be opened above the level of 0.65002 with the target at around 0.65308 and stop-loss at 0.64900. Link to comment Share on other sites More sharing options...
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