Andy.atx Posted February 20, 2020 Share Posted February 20, 2020 USD/JPY: TECHNICAL ANALYSIS 20.02.20 Current trend USD/JPY is in the stage of a downward correction after growing to the level of 111.584, but the general upward trend is still maintained. The pullback above 111.486 resistance will let the price re-test the yesterday' high surrounding 111.584 level. The breakout of this level will be a key trigger for bullish traders and give a prospect of growth to 111.719-112.109. Alternative scenario If the "bears" manage to decline the rate below the level of 111.106, the correction can continue to the area of 110.938-110.742. 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 a positive zone. Stochastic is preparing to exit the overbought zone and is directed downwards, signaling the development of a downward correction. Support and resistance Support levels: 111.328,111.106, 110.938, 110.742. Resistance levels: 111.584, 111.719, 112.109. Trading recommendations Short positions can be opened below the level of 111.106 with the target at around 110.938-110.742 and stop-loss at 111.200. Long positions can be opened above the level of 111.584 with the target at around 111.719-111.900 and stop-loss at 111.500 Link to comment Share on other sites More sharing options...
Andy.atx Posted February 20, 2020 Share Posted February 20, 2020 GBP/USD: TECHNICAL ANALYSIS 20.02.20 Current trend On the 4-hour chart, the instrument keeps a negative dynamic and trying to consolidate below the level of 1.29000. Assuming the pair’s ability to cross this mark, the level of 1.28784 can be targeted if holding short positions. The area of 1.28784-1.28713 seems a strong support area, which can activate an upward rebound. However, the decisive breakdown of 1.27813 is needed to indicate the downward trend resumption. In this case, the next targets of sellers will be the level of 1.27479. Alternative scenario The upward rebound from 1.29089 and pullback above 1.29270 will be a signal of upward correction formation and let the price grow to 1.29395. This level will be a first strong resistance, which can prevent the price from growing. If the "bulls" manage to raise the rate above the level of 1.29300, the correction can continue to the area of 1.29700 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 are in the oversold zone and are pointed downwards. Support and resistance Support levels: 1.29089, 1.28784, 1.28713. Resistance levels: 1.29395, 1.29700, 1.30005. Trading recommendations Short positions can be opened below the level of 1.29000 with the target at around 1.28784 and stop-loss at 1.29100. Long positions can be opened above the level of 1.29395 with the target at around 1.29700 and stop-loss at 1.29300. Link to comment Share on other sites More sharing options...
Andy.atx Posted February 21, 2020 Share Posted February 21, 2020 EUR/JPY: TECHNICAL ANALYSIS 21.02.20 Current trend EUR/JPY is in the stage of a downward correction after growing to the level of 121.391. At the moment the price has met the support at the level of 120.760. The downward trend will be restored after the price is set below the level of 120.700. In this case, the next targets of sellers will be the area of 120.508-120.313 levels. Judging by the downward reversal of Stochastic, this case scenario is possible soon. Alternative scenario The upward rebound from 120.703 will let the price re-test the 120.900 resistance. The breakout of 120.900 level will give a prospect of growing to the 121.094 area. Additionally, pair’s sustained trading beyond the 121.094 could set the level of 121.391on buyers’ radar. Technical indicators The technical picture is mixed. Bollinger Bands are diverging on the background of bullish momentum. MACD is growing in a 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: 120.703, 120.508, 120.313. Resistance levels: 121.094, 121.391, 121.600. Trading recommendations Short positions can be opened below the level of 120.703 with the target at around 120.508-120.400 and stop-loss at 120.800. Long positions can be opened above the level of 121.094 with the target at around 121.391 and stop-loss at 120.995. Link to comment Share on other sites More sharing options...
Andy.atx Posted February 21, 2020 Share Posted February 21, 2020 XAU/USD: TECHNICAL ANALYSIS 21.02.20 Current trend On the 4-hour chart, the instrument is growing along the upper line of the Bollinger Bands. At the moment the price has met the resistance at the level of 1626.41. Assuming the pair’s ability to cross this level, the mark of 1630.00-1632.81 can be targeted if holding long positions. Alternative scenario The downward rebound from 1526.41 and pullback below 1623.47 could be a sign of a downward correction. In this case, the pair will have a potential for a further decline to 1621.09 support. The breakdown of this level will confirm the downward correction signal and give a prospect of decline to 1617.19-1613.28. 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: 1623.47, 1621.09, 1617.19, 1613.28. Resistance levels: 1626.41, 1630.00, 1632.81. Trading recommendations Short positions can be opened below the level of 1623.47 with the target at around 1621.09-1617.19 and stop-loss at 1625.00. Long positions can be opened above the level of 1626.41 with the target at around 1630.00 and stop-loss at 1625.10. Link to comment Share on other sites More sharing options...
Andy.atx Posted February 21, 2020 Share Posted February 21, 2020 NZD/USD: TECHNICAL ANALYSIS 21.02.20 Current trend On the 4-hour chart, the instrument keeps a negative dynamic. The price went down below the level of 0.63171 and can fall further to the levels of 0.62866. This level seems strong support, which can activate an upward reverse of the price. The decisive breakdown of 0.62866 could trigger a pair’s active decline to local min surrounding 0.62500. Alternative scenario The pullback above 0.63171 and the pair’s sustained trading above it will be a signal of upward correction development and give a prospect of growth to the area of 0.63324 level. This mark will be a key target of the upward correction. There is a chance of a downward rebound, while its breakout would allow the growth to continue to the area of 0.63477. 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 in the oversold zone and are pointed sideways. Support and resistance Support levels: 0.63073, 0.62866, 0.62500. Resistance levels: 0.63171, 0.63477, 0.63782. Trading recommendations Short positions can be opened below the level of 0.63073 with the target at around 0.62866 and stop-loss at 0.63142. Long positions can be opened above the level of 0.63171 with the target at around 0.63477 and stop-loss at 0.63071. Link to comment Share on other sites More sharing options...
Andy.atx Posted February 24, 2020 Share Posted February 24, 2020 USD/CHF: TECHNICAL ANALYSIS 24.02.20 Current trend USD/CHF is in the stage of upward correction after falling to the level of 0.97742. Now the price approaching the 0.98114 resistance. Assuming the pair’s ability to cross this level, the mark of 0.98267 can be targeted if holding long positions. This area seems a key target of the upward correction movement and can activate a downward reverse of the price. However, the decisive break of 0.98267 is needed to indicate the upward trend resumption. In this case, the buyers will aim for the 0.98419 resistance. Alternative scenario The downward rebound from 0.98114 resistance and pullback below 0.97961 will be a sign of downward trend resumption. One may speak about downward movement continuation after the price consolidates below the support level of 0.97809. In this case, the next targets of sellers will be the level of 0.97656-0.97504. Technical indicators The technical picture is mixed. 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: 0.97961, 0.97809, 0.97656, 0.97504. Resistance levels: 0.98114, 0.98267, 0.98419, 0.98572. Trading recommendations Short positions can be opened below the level of 0.97961 with the target at around 0.97809-0.97656 and stop-loss at 0.98062. Long positions can be opened above the level of 0.98114 with the target at around 0.98267-0.98419 and stop-loss at 0.98012. Link to comment Share on other sites More sharing options...
Andy.atx Posted February 24, 2020 Share Posted February 24, 2020 USD/CHF: TECHNICAL ANALYSIS 24.02.20 Current trend USD/CHF is in the stage of upward correction after falling to the level of 0.97742. Now the price approaching the 0.98114 resistance. Assuming the pair’s ability to cross this level, the mark of 0.98267 can be targeted if holding long positions. This area seems a key target of the upward correction movement and can activate a downward reverse of the price. However, the decisive break of 0.98267 is needed to indicate the upward trend resumption. In this case, the buyers will aim for the 0.98419 resistance. Alternative scenario The downward rebound from 0.98114 resistance and pullback below 0.97961 will be a sign of downward trend resumption. One may speak about downward movement continuation after the price consolidates below the support level of 0.97809. In this case, the next targets of sellers will be the level of 0.97656-0.97504. Technical indicators The technical picture is mixed. 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: 0.97961, 0.97809, 0.97656, 0.97504. Resistance levels: 0.98114, 0.98267, 0.98419, 0.98572. Trading recommendations Short positions can be opened below the level of 0.97961 with the target at around 0.97809-0.97656 and stop-loss at 0.98062. Long positions can be opened above the level of 0.98114 with the target at around 0.98267-0.98419 and stop-loss at 0.98012. Link to comment Share on other sites More sharing options...
Andy.atx Posted February 24, 2020 Share Posted February 24, 2020 USD/CAD: TECHNICAL ANALYSIS 24.02.20 Current trend The instrument begins today’s trading with an upward gap. Now the pair is trading above 1.32600 resistance and has the potential to further grow to the area of 1.32751 resistance. This area can prevent the instrument from growing, as the possibility of the reverse of the price is high there. However, the decisive breakout of 1.32751 could trigger a pair’s fresh run-up to a local high surrounding 1.32904-132948. Alternative scenario The pullback below 1.32567 could lead the price back to the 1.32446 support line, which coincided with the middle line of Bollinger Bands. The breakdown of this level will be a signal for downward trend formation. In this case, the sellers will aim for 1.32294-1.32141 support-zone. 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: 1.32599, 1.32446, 1.32141. Resistance levels: 1.32751, 1.32904, 1.33057. Trading recommendations Short positions can be opened below the level of 1.32446 with the target at around 1.32294-1.32141 and stop-loss at 1.32540. Long positions can be opened above the level of 1.32751 with the target at around 1.32904-1.33057 and stop-loss at 1.32660. Link to comment Share on other sites More sharing options...
Andy.atx Posted February 24, 2020 Share Posted February 24, 2020 EUR/USD: TECHNICAL ANALYSIS 24.02.20 Current trend The EUR/USD pair begins today’s trading with a downward gap. The price went down below the level of 1.08337 and can fall further to the levels of 1.08032, which coincided with the middle line of Bollinger Bands. The area of 1.08032-1.07949 can activate an upward rebound, while its breakdown will strengthen the bearish potential and give a prospect of decline to the next support area, surrounding 1.07727 level. Alternative scenario The pullback above 1.08337 and the pair’s sustained trading above it will be a signal of upward correction movement and let the price re-test the Friday high 1.08630. The upward trend will be restored after the price is set above the strong resistance level of 1.08643. In this case, the next targets of buyers will be the level of 1.08948. Technical indicators Technical indicators mostly maintain a sell signal. Bollinger Bands are converging on the background of bearish momentum. MACD volumes are decreasing in the negative zone but are yet to cross 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: 1.08032, 1.07727, 1.07422. Resistance levels: 1.08337, 1.08643, 1.08948. Trading recommendations Short positions can be opened below the level of 1.08032 with the target at around 1.07727 and stop-loss at 1.08130. Long positions can be opened above the level of 1.08337 with the target at around 1.08643 and stop-loss at 1.08240. Link to comment Share on other sites More sharing options...
Andy.atx Posted February 25, 2020 Share Posted February 25, 2020 AUD/USD: TECHNICAL ANALYSIS 25.02.20 Current trend AUD/USD continues to consolidate in the narrow side channel 0.65918-0.66223 after a significant decline over the last time, but the general downward trend is still maintained. The breakdown and pair’s sustained trading below 0.65918 support could trigger a pair’s fresh decline to the new lows surrounding 0.65600, 0.65300. Alternative scenario The breakout of 0.66223 resistance and pair’s sustained trading above it will be a sign of upward trend development and give a prospect of growth to the area of 0.66528 resistance. However, the level of 0.66381 can be the intermediate barrier during the growth of the price. Technical indicators Technical indicators maintain a sell signal. Bollinger Bands are converging on the background of bearish momentum. MACD volumes are decreasing in the negative zone. Stochastic’s lines are pointed downwards, forming a sell signal. Support and resistance Support levels: 0,65918, 0.65600, 0.65300. Resistance levels: 0.66223, 0.66528, 0.66833. Trading recommendations Short positions can be opened below the level of 0.65918 with the target at around 0.65600 and stop-loss at 0.66010. Long positions can be opened above the level of 0.66223 with the target at around 0.66528 and stop-loss at 0.66125. Link to comment Share on other sites More sharing options...
Andy.atx Posted February 25, 2020 Share Posted February 25, 2020 USD/JPY: TECHNICAL ANALYSIS 25.02.20 Current trend The USD/JPY pair begins today’s trading with a slight bullish bias due to correction. The first strong resistance for the pair is located at the 111.035 level. If the "bulls" manage to raise the rate above this level, the correction can continue to the area of 111.328-111.480. There is a chance of a downward rebound, while its breakout would allow the growth to continue to the area of 111.719 resistance. Alternative scenario The downward rebound from 110.938 and pullback below 110.622 will be a sign of downward correction development and let the price re-test the 110.547 support. The breakdown of this level can accelerate the downward dynamic. In this case, the next targets of sellers will be the area of levels 110.327-.110.156. Technical indicators The technical picture is mixed. Bollinger Bands are diverging on the background of bullish momentum. MACD volumes are decreasing in the positive zone. Stochastic has left the oversold area and is pointed upwards, reflecting the high possibility of upward movement formation. Support and resistance Support levels: 110.547, 110.327, 110.156. Resistance levels: 110.938, 111.328, 111.480, 111.719. Trading recommendations Short positions can be opened below the level of 110.547 with the target at around 110.327-110.250 and stop-loss at 1a10.645. Long positions can be opened above the level of 111.035 with the target at around 111.328 and stop-loss at 110.940. Link to comment Share on other sites More sharing options...
Andy.atx Posted February 25, 2020 Share Posted February 25, 2020 GBP/USD: TECHNICAL ANALYSIS 25.02.20 Current trend GBP/USD price is restoring after the fall to the level of 1.28860. At the moment the price has met the resistance at the level of 1.29395. The breakout of this level and pair’s sustained trading above it will be a sign of upward trend restoring and let the price grow to the area of 1.29540-1.29700. Alternative scenario The downward rebound from 1.29395 and pullback below 1.29240 will be a sign of a downward correction and give a prospect of decline to 1.29089 support-line, which coincided with the middle line of Bollinger Bands. The 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 1.28784. Technical indicators Technical indicators reflect the moderate maintenance of the current upward trend. Bollinger Bands are diverging on the background of bullish momentum. MACD is decreasing in the negative zone. Stochastic is pointed upwards, reflecting the high possibility of upward movement formation. Support and resistance Support levels: 1.29240, 1.29089, 1.28784, 1.28479. Resistance levels: 1.29395, 1.29700, 1.30005. Trading recommendations Short positions can be opened below the level of 1.29089 with the target at around 1.28784 and stop-loss at 1.29190. Long positions can be opened above the level of 1.29395 with the target at around 1.29700 and stop-loss at 1..29300. Link to comment Share on other sites More sharing options...
Andy.atx Posted February 26, 2020 Share Posted February 26, 2020 EUR/JPY: TECHNICAL ANALYSIS 26.02.20 Current trend On the 4-hour chart, the instrument is correcting up from the lower line of the Bollinger Bands. The next strong resistance on the way up will be 120.313-120.357 level. There is a chance of a downward rebound, while its breakout would allow the growth to continue to the area of 120.703 resistance. Alternative scenario The pullback below 119.860 will be a sign of downward correction development and let the price return to 119.531 support-line. The decisive breakdown of this level is needed to indicate the downward trend resumption. In this case, the next key targets of sellers will be the level of 119.141. Technical indicators The technical picture is mixed. Bollinger Bands are pointed downwards. MACD is growing in the negative zone. Stochastic is pointed upwards, reflecting the high possibility of upward movement formation. Support and resistance Support levels: 119.922, 119.531, 119.141. Resistance levels: 120.313, 120.703, 121.094. Trading recommendations Short positions can be opened below the level of 119.860 with the target at around 119.531 and stop-loss at 119.969. Long positions can be opened above the level of 120.357 with the target at around 120.703 and stop-loss at 120.241. Link to comment Share on other sites More sharing options...
Andy.atx Posted February 26, 2020 Share Posted February 26, 2020 XAU/USD: TECHNICAL ANALYSIS 26.02.20 Current trend The XAU/USD price is restoring after the fall to the level of 1694.92. At the moment the price has met the resistance at the level of 1646.17. The conditions Stochastic on hourly chart signaling the restoring of the downward movement in the short-term period. However, the breakout of 1646.17 and the pair’s sustained trading beyond it will be a signal for upward trend resumption and give a prospect of growth to the area of 1650.00-1656.25 resistance. Alternative scenario The downward rebound from 1646.17 and pullback below 1640.63 will let the price re-test the 1632.81 support. The breakdown of this level will give a prospect of decline to 1625.00 support, which seems a strong support line. Technical indicators Technical indicators maintain a buy signal. Bollinger Bands are converging on the background of bullish momentum. MACD volumes are slowly decreasing in the positive zone. Stochastic is pointed upwards, reflecting the high possibility of upward movement formation. Support and resistance Support levels: 1640.43, 1632.81, 1625.00. Resistance levels: 1646.17, 1650.00, 1656.25. Trading recommendations Short positions can be opened below the level of 1640.63 with the target at around 1632.81 and stop-loss at 1642.90. Long positions can be opened above the level of 1646.17 with the target at around 1650.00 and stop-loss at 1644.80. Link to comment Share on other sites More sharing options...
Andy.atx Posted February 26, 2020 Share Posted February 26, 2020 NZD/USD: TECHNICAL ANALYSIS 26.02.20 Current trend On a 4-hour chart, the instrument is trading below the middle line of Bollinger Bands, suggesting bearish momentum. However, the area of 0.63050 support hinders the decline of the price. The breakdown of this level will trigger a new sellers activity and give a prospect of decline to 0.62866. This support-line seems strong support, which can activate an upward revers of the price. Meanwhile, the decisive breakdown of this level can accelerate the downward trend and let the price fall to the area of 0.62722-0.62500. Alternative scenario The upward trend will be restored after the price is set above the level of 0.63312, which is the middle line of Bollinger Bands. In this case, the next targets of buyers will be the level of 0.63477-0.63577. Technical indicators Technical indicators maintain a sell signal. Bollinger Bands are diverging on the background of bullish 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: 0.63050, 0.62866, 0.62500. Resistance levels: 0.63171, 0.63477, 0.63577, 0.63782. Trading recommendations Short positions can be opened below the level of 0.63050 with the target at around 0.62866-0.62700 and stop-loss at 0.63160. Long positions can be opened above the level of 0.63312 with the target at around 0.63477-0.63577 and stop-loss at 0.63224. Link to comment Share on other sites More sharing options...
Andy.atx Posted February 27, 2020 Share Posted February 27, 2020 USD/CHF: TECHNICAL ANALYSIS 27.02.20 Current trend On the 4-hour chart, the instrument is falling along the lower line of the Bollinger Bands. The pair approached the key support 0.97351 this morning. The decisive breakdown of this level and a sustained move below it are needed to indicate the downward trend resumption. In this case, the next targets of sellers will be the level of 0.97198-0.97046. Alternative scenario The upward rebound from 0.97351 and pullback above 0.97504 will be a sign of the upward correction. In this case, the growth will continue to the area of 0.97656-0.97700, which coincided with the middle line of Bollinger Bands. This area can activate a downward reverse of the price. However, the breakout of 0.97700 can trigger a pair fresh run-up to local highs surrounding 0.97809-0.97961. 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 pointed downwards. Support and resistance Support levels: 0.97351, 0.97198, 0.97046. Resistance levels: 0.97504, 0.97656, 0.97809. 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 0.97452. Long positions can be opened above the level of 0.97504 with the target at around 0.97656-0.97809 and stop-loss at 0.97402. Link to comment Share on other sites More sharing options...
Andy.atx Posted February 27, 2020 Share Posted February 27, 2020 USD/CAD: TECHNICAL ANALYSIS 27.02.20 Current trend On the 4-hour chart, the price has tested the resistance level of 1.33465 and was slightly corrected downwards, but the general upward trend still maintains. The breakout of 1.33465 and pair’s sustained trading beyond it will be a signal for the buyers and give a prospect of growth to new local high surrounding 1.33667. Alternative scenario The pullback below 1.33308 support will be a sign of downward correction formation and let the price decline to the area of 1.33209. Should prices continue slipping below it, the level of 1.33057 might try activating an upward rebound. One may speak about downward movement continuation after the price consolidates below the support level of 1.33900 at the middle line of Bollinger bands. In this case, the next targets of sellers will be the level of 1.32751. 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: 1.33362, 1.33209, 1.33057, 1.32751. Resistance levels: 1.33465, 1.33667, 1.33972. Trading recommendations Short positions can be opened below the level of 1.33362 with the target at around 1.33209-1.33057 and stop-loss at 1.33460. Long positions can be opened above the level of 1.33465 with the target at around 1.33667-1.33750 and stop-loss at 1.33370. Link to comment Share on other sites More sharing options...
Andy.atx Posted February 27, 2020 Share Posted February 27, 2020 EUR/USD: TECHNICAL ANALYSIS 27.02.20 Current trend On the 4-hour chart, the instrument keeps a positive dynamic. At the moment the pair has met the resistance at the level of 1.09140. Assuming the pair’s ability to cross this level, the mark of 1.09253 can be targeted if holding long positions. This level seems an important resistance-line to watch in the short-term period. There is a chance of a downward rebound, while its breakout would accelerate the growth to the area of 1.09406. Alternative scenario The pullback below 1.08948 support will be a sign of downward correction development and give a prospect of decline to 1.08795 level. The downward trend will be restored after the price is set below the level of 1.08643, which almost coincided with the middle line of Bollinger Bands. In this case, the next targets of sellers will be the level of 1.08490-1.08337. 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: 1.08948, 1.08795,1.08643, 1.08490. Resistance levels: 1.09100, 1.09253, 1.09406. Trading recommendations Short positions can be opened below the level of 1.08948 with the target at around 1.08948-1.08643 and stop-loss at 1.09040. Long positions can be opened above the level of 1.09140 with the target at around 1.09253-1.09406 and stop-loss at 1.09050. Link to comment Share on other sites More sharing options...
Andy.atx Posted February 28, 2020 Share Posted February 28, 2020 AUD/USD: TECHNICAL ANALYSIS 28.02.20 Current trend On a 4-hour chart, AUD/USD is trading in a bear trend below the 200-day MA and middle line of Bollinger Bands. The price went down below the level of 0.65308 support and can fall further to historical mins surrounding of 0.65000-0.64770 levels. Alternative scenario The pullback above 0.65308 and pair’s sustained trading above it will be a signal of the upward correction development and let the price grow to the area of 0.65460-0.65613 resistance. The downward trend will be restored after the price is set above the level of 0.65847, which is the middle line of Bollinger Bands. In this case, the next targets of buyers will be the area of levels 0.65918-0.66223. 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: 0.65154, 0.65000, 0.64770. Resistance levels: 0.65308, 0.65613, 0.65918. Trading recommendations Short positions can be opened below the level of 0.65154 with the target at around 0.65000-0.64770 and stop-loss at 0.65282. Long positions can be opened above the level of 0.65308 with the target at around 0.65613 and stop-loss at 0.65210. Link to comment Share on other sites More sharing options...
Andy.atx Posted February 28, 2020 Share Posted February 28, 2020 USD/JPY: TECHNICAL ANALYSIS 28.02.20 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 108.984. Assuming the pair’s ability to cross this level, the mark of 108.594 can be targeted if holding short positions. This level seems a strong resistance, which can activate an upward reverse of the price. However, the breakdown of 108.984 could trigger a pair fresh decline to 108.305-108.000 support area. Alternative scenario The pullback above 109.180 will let the price grow to the area of 109.375 resistance. The breakout of this level will be a signal of upward correction formation and give a prospect of growth to the area of 109.764 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: 108.984, 108.594, 108.305, 108.000. Resistance levels: 109.180, 109.375, 109.766, 110.156. Trading recommendations Short positions can be opened below the level of 108,984 with the target at around 108.594 and stop-loss at 109.110. Long positions can be opened above the level of 109.180 with the target at around 109.375-109.450 and stop-loss at 109.090. Link to comment Share on other sites More sharing options...
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