Andy.atx Posted February 3, 2020 Report Share Posted February 3, 2020 USD/CHF: TECHNICAL ANALYSIS 03.02.20 Current trend USD/CHF quotes attempted to correct up, but reaching 0.96464 mark moved to a decline. The first strong support is located on the 0.96283. In case the pair manage to cross this level, the sellers will aim for 0.96130 support. This level can prevent the instrument from falling, as the possibility of the reverse of the price is high there. However, a decisive breakdown of 0.96130 and a pair’s sustained move below it will be a signal for downward trend resumption and let the price fall to the area of 0.96000-0.95825. Alternative scenario If the "bulls" manage to raise the rate above the level of 0.94464, the correction can continue to the area of 0.96588-0.96741 resistance. The level of 0.96741 can activate a downward rebound, while its breakout would let the price grow to the area of 0.96983-0.97046 resistance. 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: 0.96283, 0.96130, 0.96000. Resistance levels: 0.96464, 0.96588, 0.96741. Trading recommendations Short positions can be opened below the level of 0.96283 with the target at around 0.96130-0.96000 and stop-loss at 0.96377. Long positions can be opened above the level of 0.96464 with the target at around 0.96588-0.96741 and stop-loss at 0.96371. Link to comment Share on other sites More sharing options...
Andy.atx Posted February 3, 2020 Report Share Posted February 3, 2020 USD/CAD: TECHNICAL ANALYSIS 03.02.20 Current trend On the 4-hour chart, the instrument keeps a positive dynamic. At the moment the price has met the resistance at the level of 1.32483. Judging by the downward reversal of the Stochastic, this level can activate a downward correction soon. However, the decisive breakout of this level and pair’s sustained trading above it will be a signal for upward trend resumption and give a prospect of growth to the 1.32751 resistance. Alternative scenario The downward rebound from 1.32483 resistance and pullback below 1.32334 support will be a sign of downward correction formation and let the price decline to 1.32141-1.32080 support zone. This area coincides 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 1.32836 level. Technical indicators Technical indicators mostly keep a buy signal, but the downward correction is possible in the short term. Bollinger Bands are pointed upwards. MACD is growing in a positive zone. Stochastic is pointed downwards. Support and resistance Support levels: 1.32334, 1.32141, 1.31836. Resistance levels: 1.32483, 1.32751, 1.33057. Trading recommendations Short positions can be opened below the level of 1.32334 with the target at around 1.32141-1.32080 and stop-loss at 1.32418. Long positions can be opened above the level of 1.32483 with the target at around 1.32751 and stop-loss at 1.32393. Link to comment Share on other sites More sharing options...
Andy.atx Posted February 3, 2020 Report Share Posted February 3, 2020 EUR/USD: TECHNICAL ANALYSIS 03.02.20 Current trend EUR/USD is in the stage of a downward correction after growing to the level of 1.10947. The first strong support on the way down will be 1.10779 level. This mark can activate an upward rebound while its breakdown would allow the fall to continue to 1.10626-1.10474 support area. Alternative scenario The upward rebound from 1.10779 support-line will let the price retest the 1.10947 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 1.11237-1.11389. This area seems a strong resistance zone, which can activate a price reverse. Technical indicators Technical indicators mostly keep a buy signal, but the downward correction is possible in the short term. Bollinger Bands are diverging on the background of bullish momentum. MACD is growing in the negative zone. Stochastic is in the overbought area and is pointed downwards, reflecting the high possibility of the downward movement formation. Support and resistance Support levels: 1.10779, 1.10626, 1.10474. Resistance levels: 1.10931, 1.11084, 1.11237. Trading recommendations Short positions can be opened below the level of 1.10779 with the target at around 1.10626-1.10474 and stop-loss at 1.10870. Long positions can be opened above the level of 1.10931 with the target at around 1.11084-1.11237 and stop-loss at 1.10830. Link to comment Share on other sites More sharing options...
Andy.atx Posted February 4, 2020 Report Share Posted February 4, 2020 AUD/USD: TECHNICAL ANALYSIS 04.02.20 Current trend On the 4-hour chart, the instrument shows a positive dynamic. The price went up above the level of 0.67100 ( the middle line of Bollinger Bands) and can grow further to the levels of 0.67289-0.67444. This area can prevent the instrument from growing, as the possibility of the reverse of the price is high there. However, the decisive break of 0.67444 and the pair’s sustained trading above this level will be a signal for upward trend resumption and let the price grow to the area of 0.67749 resistance. Alternative scenario The pullback below 0.67100 will be a sign of downward correction development and let the price retest the 0.66833 support. The downward trend will be restored after the price is set below the level of 0.66783. In this case, the next targets of sellers will be the level of 0.67444. Technical indicators Technical indicators reflect the moderate maintenance of the current upward trend. Bollinger Bands are converging 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: 0.67100, 0.66833, 0.66783, 0.67444. Resistance levels: 0.67139, 0.67444, 0.67749. Trading recommendations Long positions can be opened above the level of 0.67200 with the target at around 0.67444 and stop-loss at 0.67119. Short positions can be opened below the level of 0.67100 with the target at around 0.66833 and stop-loss at 0.67189. Link to comment Share on other sites More sharing options...
Andy.atx Posted February 4, 2020 Report Share Posted February 4, 2020 USD/JPY: TECHNICAL ANALYSIS 04.02.20 Current trend The USD/JPY pair begins today’s trading with a bullish bias. The instrument is now testing the level of 108.776, which coincided with the middle line of Bollinger Bands. Assuming the pair’s ability to cross this level, the mark of 108.984-109.130 can be targeted if holding long positions. This area can prevent the instrument from growing, as the possibility of the reverse of the price is high there. However, the decisive break of 109.130 will be a signal for the upward trend resumption and give a prospect of growth to 109.375 resistance. Alternative scenario The downward rebound from 108.776 and pullback below 108.594 support will let the price decline to 108.412 support. One may speak about downward movement continuation after the price consolidates below the support level of 108.301 support. In this case, the next targets of sellers will be the level of 108.203-108.000. Technical indicators Technical indicators reflect the moderate maintenance of the current upward trend. Bollinger Bands are converging 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: 108.594, 108.203, 108.000. Resistance levels: 108.776, 108.984, 109.375. Trading recommendations Short positions can be opened below the level of 108.594 with the target at around 108.412-108.301 and stop-loss at 108.690. Long positions can be opened above the level of 108.776 with the target at around 108.984 and stop-loss at 108.706. Link to comment Share on other sites More sharing options...
Andy.atx Posted February 4, 2020 Report Share Posted February 4, 2020 GBP/USD: TECHNICAL ANALYSIS 04.02.20 Current trend GBP/USD is in the stage of upward correction after falling to the level of 1.29810. If the current upward trend maintains, the pair will able to rich 1.30310 resistance. This level can activate a downward rebound and pullback to 1.30005 support. However, the breakout of 1.30310 level will be a signal for upward correction development and let the price grow to 1.30615 resistance Alternative scenario The pullback below 1.30005 could lead the price back to 1.29810 support. Should prices continue slipping under 1.29800, the mark of 1.29700 might try activating an upward rebound. A significant decrease is possible after the breakout of the level 1.29613. In this case, the next targets of sellers will be the level of 1.29395. 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 area and is pointed upwards, reflecting the high possibility of upward movement formation. Support and resistance Support levels: 1.29810, 1.29700, 1.29395. Resistance levels: 1.30310, 1.30615, 1.30920. Trading recommendations Short positions can be opened below the level of 1.29810 with the target at around 1.29700-1.29500 and stop-loss at 1.29900. 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 February 5, 2020 Report Share Posted February 5, 2020 EUR/JPY: TECHNICAL ANALYSIS 05.02.20 Current trend The EUR/JPY pair begins today’s trading with a slight bearish bias. At the moment the price is approaching strong support in the region of 120.703. Assuming the pair’s ability to cross this level, the mark of 120.528 and 120.313 can be targeted if holding short positions. Judging by the downward reversal of the Stochastic, such a case scenario is possible soon. Alternative scenario The upward rebound from 120.703 will let the price retest the resistance of 120.971. One may speak about upward movement continuation after the price consolidates above the resistance level of 121.094. In this case, the next targets of buyers will be the area of 121.254-121.484. Technical indicators Technical indicators mostly keep a buy signal, but the downward correction is possible in the short term. Bollinger Bands are pointed upwards. MACD is growing in a positive zone. Stochastic is in the overbought area and is pointed downwards, reflecting the high possibility of the downward movement formation. Support and resistance Support levels: 120.703, 120.528, 120.313. Resistance levels: 121.094, 121.254, 121.484. Trading recommendations Short positions can be opened below the level of 120.703 with the target at around 120.528-120.400 and stop-loss at 120.800. Long positions can be opened above the level of 121.094 with the target at around 121.254-121.400 and stop-loss at 121.000. Link to comment Share on other sites More sharing options...
Andy.atx Posted February 5, 2020 Report Share Posted February 5, 2020 XAU/USD: TECHNICAL ANALYSIS 05.02.20 Current trend XAU/USD is in the stage of upward correction after falling to the level of 1548.91, but the general downward trend is still maintained. At the moment the price has met the resistance at the level of 1558.06. The breakout of this level will indicate the upward movement resumption and let the price grow to the 1562.50 resistance. This mark seems a strong resistance level, which can activate a downward rebound. However, the breakout of 1563.00 and the pair’s sustained trading above this level will be a signal for buyers and let the price grow to the area of 1567.85-1570.31 resistance. Alternative scenario The downward rebound from 1558.06 resistance could lead the price back to 1554.69 support. The downward trend will be restored after the price is set below the level of 1553.70. In this case, the next targets of sellers will be the level of 1548.91. The key “bearish” level for the sellers will be 1546.88 mark. 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 is growing in the negative zone, keeping a sell signal. Stochastic has left the oversold area and is pointed upwards, reflecting the high possibility of upward movement formation. Support and resistance Support levels: 1554.69, 1548.91, 1546.88. Resistance levels: 1558.06, 1562.50, 1567.85, 1570.31. Trading recommendations Short positions can be opened below the level of 1553.70 with the target at around 1548.91 and stop-loss at 1554.30. Long positions can be opened above the level of 1558.07 with the target at around 1562.50 and stop-loss at 1556.70. Link to comment Share on other sites More sharing options...
Andy.atx Posted February 5, 2020 Report Share Posted February 5, 2020 NZD/USD: TECHNICAL ANALYSIS 05.02.20 Current trend NZD/USD quotes attempted to grow, but reaching 0.65007 mark moved to a downward correction. The first target of the correction is the level of 0.64697, which corresponds to the middle line of Bollinger Bands. There is a high chance of an upward rebound, while its breakdown would let the price fall to the 0.64573, 0.64392 support area. Alternative scenario The upward rebound from 0.64697 will let the price retest the 0.65007 resistance. If the "bulls" manage to raise the rate above the level of this level, the growth can continue to the area of 0.65109-0.65308. 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 are decreasing in the negative zone. Stochastic has left the overbought area and is pointed downwards, reflecting the high possibility of the downward movement formation. Support and resistance Support levels: 0.64697, 0.64573, 0.64392. 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 0.64573-0.64392 and stop-loss at 0.64797. 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...
Andy.atx Posted February 6, 2020 Report Share Posted February 6, 2020 EUR/USD: TECHNICAL ANALYSIS 06.02.20 Current trend The EUR/USD pair remains under pressure amid the general strengthening of the US dollar. The price is approaching strong support in the region of 1.09863. This level can activate an upward rebound, while its breakout can trigger a pair’s fresh downside to 1.09711-1.09558. Alternative scenario The upward rebound from 1.09863 and pullback above 1.10016 level will be a signal of upward correction development. In this case, the pair will able to grow to 1.1168, then 1.10321 resistance area. The level of 1.10474 seems a key target of the upward correction. There is a high chance of an upward rebound, while its decisive breakout would be a signal for upward trend resumption. In this case, the next targets of buyers will be the level of 1.10626. Technical indicators Technical indicators maintain a sell signal. Bollinger Bands are pointed downwards. MACD is growing in the negative zone. Stochastic’s lines are pointed downwards and are reaching the oversold area. Support and resistance Support levels: 1.09863, 1.09711, 1.09558. Resistance levels: 1.10016, 1.10168, 1.10321. Trading recommendations Short positions can be opened below the level of 1.09863 with the target at around 1.09711-1.09558 and stop-loss at 1.09960. Long positions can be opened above the level of 1.10016 with the target at around 1.10168-1.10321 and stop-loss at 1.09920. Link to comment Share on other sites More sharing options...
Andy.atx Posted February 6, 2020 Report Share Posted February 6, 2020 (edited) USD/CHF: TECHNICAL ANALYSIS 06.02.20 Current trend On the 4-hour chart, the instrument keeps a positive dynamic. The price is approaching a strong resistance in the region of 0.97054. Assuming the pair’s ability to cross this level, the mark of 0.97656 can be targeted if holding long positions. This level seems a strong resistance, which can activate a downward rebound. However, the breakout of this level could trigger a pair’s fresh run-up to 0.97809-0.97961 resistance zone. Alternative scenario The pullback below 0.97351 level and sustained trading below it will be a sign of the downward correction formation. In this case, the decline can continue to 0.97198 support. This level might offer an intermediate halt during the plunge to key corrections targets near 0.97046-0.96893. Technical indicators Technical indicators maintain a buy signal. Bollinger Bands are pointed upwards. MACD is growing in a positive zone. Stochastic is in the overbought zone and is pointed upwards, reflecting the high possibility of upward movement formation. Support and resistance Support levels: 0.97351, 0.97198, 0.97046. Resistance levels: 0.97504, 0.97656, 0.97809, 0.97961. Trading recommendations Short positions can be opened below the level of 0.97351 with the target at around 0.97198-0.97046 and stop-loss at 0.97440. Long positions can be opened above the level of 0.97504 with the target at around 0.97656-0.97809 and stop-loss at 0.97410. Edited February 6, 2020 by Andy.atx Link to comment Share on other sites More sharing options...
Andy.atx Posted February 6, 2020 Report Share Posted February 6, 2020 USD/CAD: TECHNICAL ANALYSIS 06.02.20 Current trend USD/CAD today continues to consolidate in the narrow side channel 1.32783-1.32875 after the breakdown of which, it is better to enter the market. If the "bulls" manage to raise the rate above the level of 1.32900, the growth can continue to the area of 1.33057 level. This mark seems a strong resistance, which can activate a downward reverse of the price. However, the breakout of 1.33057 and the pair’s sustained trading beyond it will give a prospect of growth to the 1.33268-1.32500 resistance. Alternative scenario The downward trend will be restored after the price is set below the level of 1.32734, which is the middle line of Bollinger Bands. In this case, the sellers will aim for the 1.32446 support. This level can prevent the instrument from falling, as the possibility of the reverse of the price is high there. Meanwhile, the breakdown of 1.32446 will be a signal for downward trend resumption and let the price fall to 1.32000 support. Technical indicators The technical picture is mixed. Bollinger Bands are pointed sideways. MACD volumes are decreasing in the positive zone. Stochastic is pointed sideways, reflecting the relative calmness of the markets. Support and resistance Support levels: 1.32734, 1.32446, 1.32000. Resistance levels: 1.32875, 1.33057, 1.33268, 1.32500. Trading recommendations Short positions can be opened below the level of 1.32734 with the target at around 1.32446 and stop-loss at 1.32830. Long positions can be opened above the level of 1.32875 with the target at around 1.33057-1.33268 and stop-loss at 1.32744. Link to comment Share on other sites More sharing options...
Andy.atx Posted February 7, 2020 Report Share Posted February 7, 2020 AUD/USD: TECHNICAL ANALYSIS 07.02.20 Current trend On a 4-hour chart, AUD/USD is trading below its middle line of Bollinger Bands, suggesting bearish momentum. The instrument is now testing the strong support level of 0.67139. Assuming the pair’s ability to cross it, the mark of 0.66833 can be targeted if holding short positions. Alternative scenario The upward rebound from 0.67139 and pullback above 0.67340 ( the middle line of Bollinger bands) will be a sign of the upward correction. The upward trend will be restored after the price is set above the level of 0.67444 resistance. In this case, the next targets of buyers will be the area of 0.67605-0.67749. Technical indicators Technical indicators maintain a sell signal. Bollinger Bands are converging on the background of bearish momentum. MACD histogram is ready to enter the negative zone and form a sell signal. Stochastic’s lines are pointed downwards and are reaching the oversold area. Support and resistance Support levels: 0.67139, 0.66833, 0.66528. Resistance levels: 0.67444, 0.67605, 0.67749, 0.68054. Trading recommendations Short positions can be opened below the level of 0.67139 with the target at around 0.66833 and stop-loss at 0.67241. Long positions can be opened above the level of 0.67444 with the target at around 0.67605-0.67749 and stop-loss at 0.67350. Link to comment Share on other sites More sharing options...
Andy.atx Posted February 7, 2020 Report Share Posted February 7, 2020 USD/JPY: TECHNICAL ANALYSIS 07.02.20 Current trend The USD/JPY pair begins today’s trading with slight bearish bias due to correction. The first strong support is located on the 109.766 level. This mark can activate an upward rebound and pullback of the price to the local max surrounding 110.016. However, the breakdown of 109.766 and a sustained move below it will give a prospect of decline to 109.590 support, which coincided with the middle line of Bollinger Bands. The decisive breakdown will be a signal for the downward trend resumption. In this case, the next targets of sellers will be the level of 109.375. Alternative scenario If the "bulls" manage to raise the rate above the level of 110.016, the growth can continue to the area of 110.156-110.284. This area seems a strong zone that can activate a downward reverse of the price. Meanwhile, the breakout of 110.284 could trigger a pair’s fresh run-up to an 8-month high surrounding 110.480 resistance. Technical indicators Technical indicators mostly keep a buy signal, but the downward correction is possible in the short term. Bollinger Bands are converging on the background of bullish momentum. MACD volumes are slowly decreasing in the positive zone, but still keeping a 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: 109.766, 109.590, 109.375. Resistance levels: 110.016, 110.156, 110.284, 110.480. Trading recommendations Short positions can be opened below the level of 109.766 with the target at around 109.590-109.375 and stop-loss at 109.890. Long positions can be opened above the level of 110.016 with the target at around 110.156-110.284 and stop-loss at 109.930. Link to comment Share on other sites More sharing options...
Andy.atx Posted February 7, 2020 Report Share Posted February 7, 2020 GBP/USD: TECHNICAL ANALYSIS 07.02.20 Current trend GBP/USD is in the stage of upward correction after falling to the level of 1.29215, but the downward trend is still maintained. At the moment the price has met the resistance at the level of 1.29395. This mark can activate a downward rebound and lead the price back to 1.29215 support. Further close below this level may push GBP/USD even lower towards the area of 1..29089 support. Alternative scenario If the "bulls" manage to raise the rate above the level of 1.29435, the correction can continue to the area of 1.29547-1.29700. The key target of the bullish correction will be the 1.30005 resistance, which coincided with the middle line of Bollinger Bands. There is a chance of a downward rebound, while its decisive breakout would allow the growth to continue to 1.30615 resistance. 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 a negative zone. Stochastic is in the oversold area and is pointed upwards, reflecting the high possibility of upward movement formation. Support and resistance Support levels: 1.29215, 1.29089, 1.28784. Resistance levels: 1.29435, 1.29700, 1.30005. Trading recommendations Short positions can be opened below the level of 1.29215 with the target at around 1.29089-1.28900 and stop-loss at 1.29305. Long positions can be opened above the level of 1.29435 with the target at around 1.29700 and stop-loss at 1.29346. Link to comment Share on other sites More sharing options...
Andy.atx Posted February 10, 2020 Report Share Posted February 10, 2020 XAU/USD: TECHNICAL ANALYSIS 10.02.20 Current trend Today XAU/USD quotes attempted to continue the upward dynamic, but reaching 1576.58 mark moved to a downward correction. At the moment the price has met the support at the level of 1567.90 which hinders the decline of quotes. In case the pair manage to cross this hurdle, the sellers will aim for 1562.50 support area. Alternative scenario The pullback above 1573.18 will let the price retest the 1576.58 resistance. One may speak about upward movement continuation after the price consolidates above the resistance level of 1578.13. In this case, the next targets of buyers will be the area of 1581.08-1583.91 levels. Technical indicators Technical indicators maintain a buy signal. Bollinger Bands are pointed upwards. MACD is growing in a positive zone. Stochastic is pointed upwards, reflecting the high possibility of upward movement formation. Support and resistance Support levels: 1570.31, 1567.90, 1562.50. Resistance levels: 1576.58, 1578.13, 1581.08. Trading recommendations Short positions can be opened below the level of 1567.90 with the target at around 1562.50 and stop-loss at 1569.20. Long positions can be opened above the level of 1576.58 with the target at around 1578.13-1581.08 and stop-loss at 1575.30. Link to comment Share on other sites More sharing options...
Andy.atx Posted February 10, 2020 Report Share Posted February 10, 2020 NZD/USD: TECHNICAL ANALYSIS 10.02.20 Current trend NZD/USD is in the stage of upward correction after falling to the level of 0.63970. The first strong area on the way up is the 0.64087-0.64192 zone. There is a chance of a downward rebound, while its breakout would allow the growth to continue to 0.64392-0.64500 area. Alternative scenario The downward rebound from 0.64192 and pullback below 0.64087 will lead the price back to 0.63970 support. The decisive breakdown of this level is needed to indicate the downward trend resumption. In this case, the next targets of sellers will be the level of 0.63782-0.63578. 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 has left the oversold area and is pointed upwards, reflecting the high possibility of upward movement formation. Support and resistance Support levels: 0.63970, 0.63782, 0.63578. Resistance levels: 0.64192, 0.64392, 0.64500, 0.64697. Trading recommendations Short positions can be opened below the level of 0.63970 with the target at around 0.63782-0.63700 and stop-loss at 0.64060. Long positions can be opened above the level of 0.64192 with the target at around 0.64392-0.64500 and stop-loss at 0.64100. Link to comment Share on other sites More sharing options...
Andy.atx Posted February 10, 2020 Report Share Posted February 10, 2020 EUR/JPY: TECHNICAL ANALYSIS 10.02.20 Current trend Today EUR/JPY price is moderately restoring after the fall to the level of 119.964 and is now testing the resistance level of 120.313. The breakout of this level and a sustained move above it will give a prospect of growth to the 120.508 resistance. Should prices continue growing above this level, the mark of 120.600 might try activating a downward rebound as a key target of the bullish correction. Alternative scenario The downward rebound from 120.313 resistance and pullback below 120.117 could lead the price back to 119.964 support. The decisive breakdown of this level could trigger a pair’s active decline to 119.727-119.531 support zone. 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 is growing in the negative zone. Stochastic has left the oversold area and is pointed upwards, reflecting the high possibility of upward movement formation. Support and resistance Support levels: 120.117, 119.922, 119.727, 119.531. Resistance levels: 120.313, 120.508, 120.600, 120.703. Trading recommendations Short positions can be opened below the level of 119.922 with the target at around 119.727-119.600 and stop-loss at 120.030. Long positions can be opened above the level of 120.313 with the target at around 120.508-120.600 and stop-loss at 120.220. Link to comment Share on other sites More sharing options...
Andy.atx Posted February 11, 2020 Report Share Posted February 11, 2020 USD/CHF: TECHNICAL ANALYSIS 11.02.20 Current trend On the 4-hour chart, the instrument is correcting up from the 0.97656 support and is trying to consolidate above the resistance level of 0.97809. The pair’s sustained trading above this level will give a prospect of growth to 0.97961. This level can prevent the instrument from growing, as the possibility of the reverse of the price is high there. However, the decisive breakout of 0.97961 could trigger a pair' fresh run-up to a local high surrounding 0.98291. Alternative scenario The downward rebound from 0.97809 resistance and pullback below 0.97778 could lead the price back to 0.97656-0.97615 support. This area can activate an upward rebound, while its breakdown would be a signal for downward trend formation and let the price fall to the area of 0.97504-0.97351. Technical indicators Technical indicators maintain a buy signal. Bollinger Bands are pointed upwards. MACD is growing in a positive zone. Stochastic is pointed upwards, reflecting the high possibility of upward movement formation. Support and resistance Support levels: 0.97656, 0.97504, 0.97351. Resistance levels: 0.97809, 0.97961, 0.98291. Trading recommendations Short positions can be opened below the level of 0.97615 with the target at around 0.97351 and stop-loss at 0.97703. Long positions can be opened above the level of 0.97809 with the target at around 0.97961-0.98100 and stop-loss at 0.97710. Link to comment Share on other sites More sharing options...
Andy.atx Posted February 11, 2020 Report Share Posted February 11, 2020 USD/CAD: TECHNICAL ANALYSIS 11.02.20 Current trend The USD/CAD pair begins today’s trading with slight bearish bias due to correction. The price went down below the support level of 1.33057 and can decline further to the level of 1.32904-1.32876. However, the level of 1.32990 (the middle line of Bollinger bands) might offer an intermediate halt during this plunge. The area of 1.32876 support can activate an upward rebound of the price, while its breakdown would allow the fall to continue to 1.32751. Alternative scenario The upward rebound from 1.32990 and pullback above 1.33109 will let USD/CAD retest 1.33209-1.33283 resistance area. One may speak about upward movement continuation after the price consolidates above the resistance level of 1.33362. In this case, the next targets of buyers will be the area of 1.33700 resistance. 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 has left the overbought area and is pointed downwards, reflecting the high possibility of the downward movement formation. Support and resistance Support levels: 1.32900, 1.32751, 1.32599. Resistance levels: 1.33057, 1.33283, 1.33362, 1.33700. Trading recommendations Short positions can be opened below the level of 1.32900 with the target at around 1.32751-1.32600 and stop-loss at 1.33000. Long positions can be opened above the level of 1.33109 with the target at around 1.33283-1.33362 and stop-loss at 1.33024. Link to comment Share on other sites More sharing options...
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