Andy.atx Posted February 11, 2020 Report Share Posted February 11, 2020 EUR/USD: TECHNICAL ANALYSIS 11.02.20 Current trend EUR/USD continues to consolidate around the 1.09100 support after a significant decline over the last week. The decisive breakdown of 1.09100 is needed to indicate the downward trend resumption. In this case, the next targets of sellers will be the area of 1.08948-1.08643. Alternative scenario The pullback above 1.09253 will be a sign of upward correction formation and give a prospect of growth to the area 1.09558 resistance. This level seems a key target of the correction which can activate a downward rebound. However, the breakout and pair’s sustained trading beyond 1.09560 will be a signal for upward trend resumption. In this case, the next targets of buyers will be the level of 1.09863. 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: 1.09100, 1.08948, 1.08643. Resistance levels: 1.09253, 1.09558, 1.09863. Trading recommendations Short positions can be opened below the level of 1.09100 with the target at around 1.08948-1.08786 and stop-loss at 1.09204. Long positions can be opened above the level of 1.09253 with the target at around 1.09558 and stop-loss at 1.09153. Link to comment Share on other sites More sharing options...
Andy.atx Posted February 12, 2020 Report Share Posted February 12, 2020 AUD/USD: TECHNICAL ANALYSIS 12.02.20 Current trend On the 4-hour chart, the instrument keeps a positive dynamic. The price went up above the resistance level of 0.67291 and can grow further to the level of 0.67444, then 67596. The area of 0.67749 seems a key bullish target for the short-time period. There is a high chance of a downward rebound of the price. Alternative scenario The downward rebound from 0.67444 and pullback below 0.67262 could lead the price back to 0.67139 support. The downward trend will be restored after the price is set below the level of 0.66986, which is the middle line of Bollinger Bands. In this case, the next targets of sellers will be the levels of 0.66833-0.66681. Technical indicators Technical indicators maintain a buy signal. Bollinger Bands are diverging on the background of bullish momentum. MACD histogram is ready to enter the positive zone and form a buy signal. Stochastic is pointed upwards, reflecting the high possibility of upward movement formation. Support and resistance Support levels: 0.67291, 0.67139, 0.66986, 0.66833. Resistance levels: 0.67444, 0.67596, 0.67749, 0.67902. Trading recommendations Long positions can be opened above the level of 0.67444 with the target at around 0.67596-0.67749 and stop-loss at 0.67350. Short positions can be opened below the level of 0.66986 with the target at around 0.66833-0.66681 and stop-loss at 0.67086. Link to comment Share on other sites More sharing options...
Andy.atx Posted February 12, 2020 Report Share Posted February 12, 2020 USD/JPY: TECHNICAL ANALYSIS 12.02.20 Current trend USD/JPY continues to consolidate in the narrow side channel after significant growth over the past two weeks. At the moment the price has met the support at the level of 109.812, which coincided with the middle line of Bollinger Bands. The downward trend will be restored after the price is set below the area of 109.766-109.721. In this case, the next targets of sellers will be the level of 109.635-109.375. Alternative scenario The upward rebound from 109.766 and pullback above 109.941 will give a prospect of growth to the 110.156 level. This mark seems a strong resistance, which can activate a downward rebound of the price. However, the breakout of 110.156 could trigger a pair’s active run-up to a 9-month high surrounding 110.339-110.496. Technical indicators The technical picture is mixed. Bollinger Bands are pointed sideways. MACD volumes are decreasing in the positive zone. Stochastic is pointed upwards, reflecting the high possibility of upward movement formation. Support and resistance Support levels: 109.766, 109.635, 109.375. Resistance levels: 109.956, 110.115, 110.339, 110.496. Trading recommendations Short positions can be opened below the level of 109.766 with the target at around 109.635-109.450 and stop-loss at 109.850. Long positions can be opened above the level of 109.956 with the target at around 110.115-110.339 and stop-loss at 109.818. Link to comment Share on other sites More sharing options...
Andy.atx Posted February 12, 2020 Report Share Posted February 12, 2020 GBP/USD: TECHNICAL ANALYSIS 12.02.20 Current trend On the 4-hour chart, GBP/USD is in the stage of a downward correction after growing to the level of 1.29686, but the upward trend is still maintained. If the sellers manage to decline the rate below the level of 1.29547, the correction can continue to the area of 1.29395-1.29260. This area can activate a downward rebound. Meanwhile, the decisive break of 1.29260 is needed to indicate the downtrend resumption. In this case, the next targets of sellers will be the level of 1.28398. Alternative scenario The upward trend will be restored after the price is set above the level of 1.29686. In this case, the next targets of buyers will be the level of 1.30005. 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: 1.29547, 1.29395, 1.29260, 1.28398. Resistance levels: 1.29686, 1.30005, 1.30300. Trading recommendations Short positions can be opened below the level of 1.29547 with the target at around 1.29395-1.29260 and stop-loss at 1.29642 Long positions can be opened above the level of 1.29686 with the target at around 1.30005 and stop-loss at 1.29600. Link to comment Share on other sites More sharing options...
Andy.atx Posted February 13, 2020 Report Share Posted February 13, 2020 EUR/JPY: TECHNICAL ANALYSIS 13.02.20 Current trend On the 4-hour chart, the instrument is falling along the lower line of the Bollinger Bands and approaching a strong support 119.336. Assuming the pair’s ability to cross this level, the mark of 119.141 can be targeted if holding short positions. This level can activate an upward rebound. However, the decisive breakdown of 119.141 will be a signal of a downward trend resumption. In this case, the next targets of sellers will be the area of 118.750 level. Alternative scenario The upward rebound from 119.336 could lead the price back to 119.531 resistance. The pullback above this level will be a sign of an upward correction and let the price grow to 119.727 resistance. Should prices continue growing above it, the level of 119.922 might try activating a downward rebound as a key target of the upward correction. 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: 119.336, 119.141 , 119.000. Resistance levels: 119.531, 119.727, 119.922. Trading recommendations Short positions can be opened below the level of 119.336 with the target at around 119.141-119.000 and stop-loss at 119.420. Long positions can be opened above the level of 119.531 with the target at around 119.727-119.900 and stop-loss at 119.430. Link to comment Share on other sites More sharing options...
Andy.atx Posted February 13, 2020 Report Share Posted February 13, 2020 XAU/USD: TECHNICAL ANALYSIS 13.02.20 Current trend Today XAU/USD price is moderately growing and is now testing the resistance level of 1574.22. The pair is trading above its middle line of Bollinger Bands suggesting bullish momentum. The next target of the price will be 1578.13 level. This level seems a though resistance, which can prevent the instrument from the growing. Meanwhile, the breakout of 1578.13 can trigger a price active run-up to 1583.00-1585.94 resistance area. Alternative scenario The pullback below 1570.31 (the middle line of Bollinger Bands) will be a sign of a downward correction and give a prospect of decline to 1568.36-1566.41 support. The key target of the sellers will be the 1562.50 support. The decisive breakdown of this level is needed to indicate the downward trend resumption. In this case, the sellers will have their sights on the level of 1554.69. Technical indicators Technical indicators mostly maintain a buy signal. Bollinger Bands are diverging on the background of bullish momentum. MACD volumes are in the positive zone and are moving along the zero line. Stochastic is pointed upwards, reflecting the high possibility of upward movement formation. Support and resistance Support levels: 1570.31, 1568.36, 1566.41. Resistance levels: 1578.13, 1583.00, 1585.94. Trading recommendations Short positions can be opened below the level of 1570.31 with the target at around 1568.36-1566.41 and stop-loss at 1571.60. Long positions can be opened above the level of 1578.13 with the target at around 1583.00 and stop-loss at 1576.60. Link to comment Share on other sites More sharing options...
Andy.atx Posted February 13, 2020 Report Share Posted February 13, 2020 NZD/USD: TECHNICAL ANALYSIS 13.02.20 Current trend The NZD/USD pair begins today’s trading with a slight bearish bias. The price has tested the support level of 0.64273 and was slightly corrected upwards, but the potential of downward correction maintains. The area of 0.64273-0.64225 seems a strong support area, which can activate a price reverse. However, the breakdown of 0.64225 and pair' sustained trading below it will be a signal of downward trend restoring. In this case, the next targets of sellers will be the level of 0.64087-0.63782. Alternative scenario The upward rebound from 0.64392 support could lead the price to 0.64697 level. The decisive break of this mark is needed to indicate the upward trend resumption. In this case, the next targets of buyers will be the level of 0.65002. Technical indicators The technical picture is mixed. Bollinger Bands are pointed upwards. 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: 0.64392, 0.64087, 0.63782. Resistance levels: 0.646970,0.65002, 0.65308, 0.65613. Trading recommendations Short positions can be opened below the level of 0.64392 with the target at around 0.64087 and stop-loss at 0.64490. Long positions can be opened above the level of 0.64697 with the target at around 0.65002 and stop-loss at 0.64600. Link to comment Share on other sites More sharing options...
Andy.atx Posted February 14, 2020 Report Share Posted February 14, 2020 USD/CHF: TECHNICAL ANALYSIS 14.02.20 Current trend On the 4-hour chart, the instrument is growing along the upper line of the Bollinger Bands. The price crossed 0.97961 level and has the potential for further growth to 0.98267 resistance. This level seems a strong resistance which can activate a downward reverse of the price. However, the decisive breakout of 0.98267 will be a signal for upward trend resumption and give a prospect of growth to the area of 0.98525 resistance. Alternative scenario The pullback below 0.97918 will be a signal for downward correction formation and let the price decline to 0.97750 support ( the middle line of Bollinger Bands ). The downward trend will be restored after the price is set below the level of 0.97656. In this case, the next targets of sellers will be the level of 0.97504 - 0.97351. 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: 0.97918, 0.97656, 0.97504, 0.97351. Resistance levels: 0.97961, 0.98267, 0.98525. Trading recommendations Short positions can be opened below the level of 0.97918 with the target at around 0.97656 and stop-loss at 0.98005. Long positions can be opened above the level of 0.97961 with the target at around 0.98267 and stop-loss at 0.97860. Link to comment Share on other sites More sharing options...
Andy.atx Posted February 14, 2020 Report Share Posted February 14, 2020 USD/CAD: TECHNICAL ANALYSIS 14.02.20 Current trend Today USD/CAD quotes attempted to grow, but reaching 1.32863 mark moved to a decline. Now the pair is testing 1.32599 support line. The breakdown of this level and pair' sustained move below will let the price decline to the level of 1.32446-1.32394 area. It’s an important zone of support to watch in the short-term period. The decisive breakdown of 1.32394 could trigger a pair’s fresh decline to a local low surrounding 1.32141. Alternative scenario The upward rebound from 1.32599 will let the price retest the 1.32683 resistance. The upward trend will be restored after the price is set above the level of 1.32751, which is the middle line of Bollinger Bands. In this case, the next targets of buyers will be the level of 1.32904-1.33057. Technical indicators The technical picture is mixed. Bollinger Bands are converging on the background of bearish 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: 1.32599, 1.32446, 1.32294, 1.32141. Resistance levels: 1.32751, 1.32904, 1.33057, 1.33209. Trading recommendations Short positions can be opened below the level of 1.32394 with the target at around 1.32141 and stop-loss at 1.32478. Long positions can be opened above the level of 1.32751 with the target at around 1.32904-1.33057 and stop-loss at 1.32650. Link to comment Share on other sites More sharing options...
Andy.atx Posted February 14, 2020 Report Share Posted February 14, 2020 EUR/USD: TECHNICAL ANALYSIS 14.02.20 Current trend On the 4-hour chart, the instrument is moderately falling along the lower line of the Bollinger Bands. At the moment the price has met the support at the level of 1.08337. Assuming the pair’s ability to cross this level, the mark of 1.08032 can be targeted if holding short positions. This level seems a strong support area, which can activate an upward reverse of the price. Meanwhile, the breakdown of 1.08000 level and a sustained move below it could accelerate the downward trend. In this case, the sellers will aim for the level of 1.07430 support. Alternative scenario The upward rebound from 1.08337 and pullback above 1.08490 will be a signal for upward correction formation and will give a prospect of growth to 1.08643 level. There is a chance of a downward rebound, while its breakout would allow the growth to continue to 1.08948 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: 1.08337, 1.08032, 1.07700, 1.07400. Resistance levels: 1.08490, 1.08643, 1.08948. Trading recommendations Short positions can be opened below the level of 1.08337 with the target at around 1.08032 and stop-loss at 1.08435. Long positions can be opened above the level of 1.08643 with the target at around 1.08948 and stop-loss at 1.08540. Link to comment Share on other sites More sharing options...
Andy.atx Posted February 17, 2020 Report Share Posted February 17, 2020 AUD/USD: TECHNICAL ANALYSIS 17.02.20 Current trend The AUD/USD pair begins today’s trading with slight bullish bias, trying to consolidate above the resistance level of 0.67291. Assuming the pair’s ability to cross this mark, the area of 0.67444-0.67492 can be targeted if holding long positions. This area can activate a downward rebound as the possibility of the reverse of the price is high there. However, the decisive break of 0.67492 is needed to indicate the upward trend resumption. In this case, the buyers will aim for the 0.67596-0.67749 resistance. Alternative scenario The downward rebound from 0.67291 resistance could lead the price to 0.67139-0.67086 support. One may speak about downward movement continuation after the price consolidates below the 0.67000 level. In this case, the next targets of sellers will be the level of 0.66833-0.66681. 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: 0.67139, 0.66986, 0.66833, 0.66681. Resistance levels: 0.67291, 0.67444, 0.67492, 0.67596. Trading recommendations Long positions can be opened above the level of 0.67300 with the target at around 0.67444-0.67596 and stop-loss at 0.67200. Short positions can be opened below the level of 0.67000 with the target at around 0.66833-0.66681 and stop-loss at 0.67100. Link to comment Share on other sites More sharing options...
Andy.atx Posted February 17, 2020 Report Share Posted February 17, 2020 USD/JPY: TECHNICAL ANALYSIS 17.02.20 Current trend The USD/JPY pair begins today’s trading with a slight bullish bias. At the moment the price has met the resistance at the level of 109.848, which corresponds to the middle line of Bollinger Bands. The breakout of this level and pair’s sustained trading above it will give a prospect of growth to the area of 109.973-110.156. This area seems a strong resistance, which can activate a downward reverse of the price. Meanwhile, the decisive breakout of 110.156 will give a prospect of growth to 110.350-110.585 resistance area. Alternative scenario The downward rebound from 109.848 could lead the price back to 109.690 support. The breakdown of this level will be a signal for downward trend resumption. In this case, the next key target of sellers will be the level of 109.375. Technical indicators The technical picture is mixed. Bollinger Bands are pointed sideways. MACD histogram is ready to enter the negative zone and form a sell signal. Stochastic is pointed upwards, reflecting the high possibility of upward movement formation. Support and resistance Support levels: 109.690, 109.375, 109.124. Resistance levels: 109.848, 109.973, 110.156. Trading recommendations Short positions can be opened below the level of 109.690 with the target at around 109.375 and stop-loss at 109.795. Long positions can be opened above the level of 109.848 with the target at around 110.156 and stop-loss at 109.746. Link to comment Share on other sites More sharing options...
Andy.atx Posted February 17, 2020 Report Share Posted February 17, 2020 GBP/USD: TECHNICAL ANALYSIS 17.02.20 Current trend GBP/USD today continues to consolidate around the 1.30463 resistance level. Meanwhile, the instrument has the potential to further upward dynamics. The breakout of the 1.30615 level can trigger a pair active growth to the 1.30768-1.30920 resistance area. The upper border of this channel can activate a downward rebound, while its breakout will give a prospect of growth to the area of 1.31226 resistance. Alternative scenario The downward rebound from 1.30615 and pullback below 1.30460 will be a signal for downward correction development. The first target of the correction is the level of 1.30005, which corresponds to the middle line of Bollinger Bands. This level can prevent the instrument from falling, as the possibility of the reverse of the price is high there. However, the decisive break of 1.30005 is needed to indicate the downward trend resumption. In this case, the next targets of sellers will be the level of 1.29852-1.29700. 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: 1.30463, 1.30005, 1.29852, 1.29700. Resistance levels: 1.30615, 1.30768, 1.30920. Trading recommendations Short positions can be opened below the level of 1.30463 with the target at around 1.30005 and stop-loss at 1.30600. Long positions can be opened above the level of 1.30615 with the target at around 1.30768-1.30920 and stop-loss at 1.30520. Link to comment Share on other sites More sharing options...
Andy.atx Posted February 18, 2020 Report Share Posted February 18, 2020 EUR/JPY: TECHNICAL ANALYSIS 18.02.20 Current trend On 4-hour chart EUR/JPY quotes tested the support level of 118.722 and were slightly corrected upwards, but the general downward trend maintains. The decisive breakdown of 118.722 will be a signal for the downward trend resumption and let the price fall to the area of 118.359 support. Alternative scenario If the "bulls" manage to raise the rate above the level of 118.945, the correction can continue to the area of 119.141, which coincided with the middle line of Bollinger Bands. This level can prevent the instrument from growing, as the possibility of the reverse of the price is high there. However, the breakout of 119.200 can accelerate the pair towards 119.429-119.531 resistance area. 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: 118.750, 118.359, 117.969. Resistance levels: 118.945, 119.141, 119.429, 119.531. Trading recommendations Short positions can be opened below the level of 118.720 with the target at around 118.359 and stop-loss at 118.840. Long positions can be opened above the level of 119.141 with the target at around 119.429 and stop-loss at 119.045. Link to comment Share on other sites More sharing options...
Andy.atx Posted February 18, 2020 Report Share Posted February 18, 2020 XAU/USD: TECHNICAL ANALYSIS 18.02.20 Current trend On the 4-hour chart, the instrument keeps a positive dynamic. The price went up above the resistance level of 1585.94 and can grow further to the levels of 1587.89 and 1589.84. This area can activate a downward rebound. However, the breakout of 1587.89 and the pair’s sustained trading above it will give a prospect of growth to the area of 1593.75 resistance. Alternative scenario The pullback below 1585.20 will be a sign of the downward correction movement. In this case, the sellers will aim for the 1583.98-1582.03 support zone. The breakdown of 1582.03 and holding below it will let the price decline to 1578.13 level, which will be the key correction target. 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: 1585.20, 1583.98, 1582.03, 1578.13 Resistance levels: 1587.89, 1589.84, 1593.75. Trading recommendations Short positions can be opened below the level of 1585.20 with the target at around 1582.03 and stop-loss at 1586.20. Long positions can be opened above the level of 1587.89 with the target at around 1591.00 and stop-loss at 1587.00. Link to comment Share on other sites More sharing options...
Andy.atx Posted February 18, 2020 Report Share Posted February 18, 2020 NZD/USD: TECHNICAL ANALYSIS 18.02.20 Current trend NZD/USD is in the stage of upward correction after falling to the level of 0.64051, but the downward trend is still maintained. If the "bulls" manage to raise the rate above the level of 0.64163, the correction can continue to the area of 0.64240. Should prices continue growing above this level, the mark of 0.64392 can activate a downward rebound as the key target of the correction. Alternative scenario The downward rebound from 0.64163 and pullback below 0.64087 will be a signal for downward trend resumption. In this case, the next key target of sellers will be the level of 0.63782. 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: 0.64087, 0.63782, 0.63477. Resistance levels: 0.64163, 0.64392, 0.64697. Trading recommendations Short positions can be opened below the level of 0.64087 with the target at around 0.63782 and stop-loss at 0.64180. Long positions can be opened above the level of 0.64163 with the target at around 0.64392 and stop-loss at 0.64086. Link to comment Share on other sites More sharing options...
Andy.atx Posted February 19, 2020 Report Share Posted February 19, 2020 USD/CHF: TECHNICAL ANALYSIS 19.02.20 Current trend USD/CHF continues to consolidate in the side channel 0.98248-0.98345 after significant growth over the last week. The breakout of the upper border is needed to indicate the upward trend resumption. In this case, the next target of buyers will be the level of 0.98572. Alternative scenario If the price cannot consolidate above the level of 0.98345 during the short-term period, the price can reverse and retest the support level of 0.98152, which 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 0.97961-0.97849. Technical indicators Technical indicators reflect the moderate maintenance of the current upward trend. Bollinger Bands are pointed upwards. MACD is growing in a positive zone. Stochastic is pointed upwards. Support and resistance Support levels: 0.98267, 0.98152, 0.97961, 0.97849. Resistance levels: 0.98345, 0.98572, 0.98877. Trading recommendations Short positions can be opened below the level of 0.98152 with the target at around 0.97961-0.97900 and stop-loss at 0.98235. Long positions can be opened above the level of 0.98345 with the target at around 0.98572 and stop-loss at 0.98269. Link to comment Share on other sites More sharing options...
Andy.atx Posted February 19, 2020 Report Share Posted February 19, 2020 USD/CAD: TECHNICAL ANALYSIS 19.02.20 Current trend On the 4-hour chart, the instrument keeps a negative dynamic. At the moment the price has met the support at the level of 1.32436. Assuming the pair’s ability to cross this level, the mark of 1.32294 can be targeted if holding short positions. The level of 1.32994 seems strong support, which can activate an upward rebound. However, the breakdown and sustained move below it will be a signal for downward trend resumption and let the price decline to the area of 1.32141. Alternative scenario The upward rebound from 1.32446 will let the price retest 1.32599 resistance. The breakout of this level will give a prospect of growth to the area of 1.32751 resistance, which can restrict further rise. Meanwhile, the breakout of this level can trigger a pair’s fresh run-up to one-week high around the 1.32904 resistance. 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: 1.32436, 1.32294, 1.32141. Resistance levels: 1.32599, 1.32751, 1.32904. Trading recommendations Short positions can be opened below the level of 1.32436 with the target at around 1.32294-1.32141 and stop-loss at 1.32532. Long positions can be opened above the level of 1.32599 with the target at around 1.32751-1.32800 and stop-loss at 1.32630. Link to comment Share on other sites More sharing options...
Andy.atx Posted February 19, 2020 Report Share Posted February 19, 2020 EUR/USD: TECHNICAL ANALYSIS 19.02.20 Current trend EUR/USD price has tested the support level of 1.07883 and was slightly corrected upwards to the area of 1.08024, but the general downward trend maintains. The decisive breakdown of 1.07880 is needed to indicate the downward trend resumption. In this case, the sellers will aim for the new low surrounding 1.07422 support. Alternative scenario If the "bulls" manage to raise the rate above the level of 1.08032, the correction can continue to the area of 1.08249, which coincided with the middle line of Bollinger Bands. There is a chance of a downward rebound, while its breakout will be a signal for upward trend resumption and give a prospect of the growth to the area of 1.08643 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: 1.07883, 1.07600, 1.07422. Resistance levels: 1.08032, 1.08249, 1.08643. Trading recommendations Short positions can be opened below the level of 1.07883 with the target at around 1.07600 and stop-loss at 1.07977. Long positions can be opened above the level of 1.08249 with the target at around 1.08500 and stop-loss at 1.08165. Link to comment Share on other sites More sharing options...
Andy.atx Posted February 20, 2020 Report Share Posted February 20, 2020 AUD/USD: TECHNICAL ANALYSIS 20.02.20 Current trend On the 4-hour chart, the price has tested the support level of 0.66393 and was corrected upwards, but the general downward trend maintains. If the "bulls" manage to raise the rate above the level of 0.66528, the correction can continue to the area of 0.66681, then 0.66833 resistance area. Judging by the upward reversal of the Stochastic, this option of price movement is possible during the short-term period. Alternative scenario The downward rebound from 0.66528 could lead the price back to 0.66376 level, which seems strong support. Though, sellers will look for successful trading below this mark to reach 0.66223-0.66000 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 has left the oversold area and is pointed upwards, reflecting the high possibility of upward movement formation. Support and resistance Support levels: 0.66376, 0.66223, 0.66000. Resistance levels: 0.66528, 0.66681, 0.66833. Trading recommendations Short positions can be opened below the level of 0.66376 with the target at around 0.66223-0.66000 and stop-loss at 0.66466. Long positions can be opened above the level of 0.66528 with the target at around 0.66681-0.66833 and stop-loss at 0.66430. Link to comment Share on other sites More sharing options...
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