Andy.atx Posted March 30, 2020 Share Posted March 30, 2020 AUD/USD: TECHNICAL ANALYSIS 30.03.20 Current trend The AUD/USD pair begins today’s trading with a slight bearish gap. Now we can see a consolidation of the price around the 0.61400 support. To continue the downward dynamic AUD/USD should consolidate below the 0.61035 support-line. In this case, the pair will be able to decline to 0.60500 support, which coincided with the middle line of Bollinger Bands. There is a high chance of an upward rebound, while its breakdown would allow the fall to continue to the area of 0.60200-0.59814. Alternative scenario The upward rebound from 0.61035 and pullback above 0.61836 will give a prospect of growth to the last week high surrounding 0.62000. The breakout of this level can accelerate the rate towards 0.62256 resistance. Further close above this level may push AUD/USD even higher towards the area of 0.62500-0.62800. 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 has left the overbought area and is pointed downwards, reflecting the high possibility of the downward movement formation. Support and resistance Support levels: 0.61035, 0.60525, 0.60200, 0.59814. Resistance levels: 0.61836, 0.62256, 0.62500, 0.62800. Trading recommendations Short positions can be opened below the level of 0.61035 with the target at around 0.60525 and stop-loss at 0.61200. Long positions can be opened above the level of 0.62000 with the target at around 0.62256-0.63000 and stop-loss at 0.61900. Link to comment Share on other sites More sharing options...
Andy.atx Posted March 31, 2020 Share Posted March 31, 2020 EUR/JPY: TECHNICAL ANALYSIS 31.03.20 Current trend EUR/JPY quotes attempted to grow, but reaching 119.691 marks moved to a decline. If the sellers manage to decline the rate below the level of 119.141 (coincided with the middle line of Bollinger Bands on H1 chart), the downward movement can continue to the area of 118.750. This mark seems strong support, which can activate an upward rebound. However, the breakdown of this level can dive market to 118.300 and the 118.000 support-points. Alternative scenario The upward rebound from 119.141 and pullback above 119.531 will let the price re-test the 119.691 resistance. One may speak about upward movement continuation after the price consolidates above the resistance level of 119.800 (middle line of Bollinger Bands on H4 chart). In this case, the next targets of buyers will be the area of 120.000-120.313 resistance. 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: 119.141, 119.000, 118.750, 118.300. Resistance levels: 119.531, 119.800, 120.000, 120.313. Trading recommendations Short positions can be opened below the level of 119.141 with the target at around 119.000-118.750 and stop-loss at 119.271. Long positions can be opened above the level of 119.800 with the target at around 120.000-120.100 and stop-loss at 119.700. Link to comment Share on other sites More sharing options...
Andy.atx Posted March 31, 2020 Share Posted March 31, 2020 XAU/USD: TECHNICAL ANALYSIS 31.03.20 Current trend The XAU/USD pair begins today’s trading with a slight bearish bias. At the moment the price has met the support at the level of 1610.59. The breakdown of this level will give a prospect of decline to the level of 1604.00. This mark seems an important support-line, which can activate an upward rebound. Meanwhile, the decisive breakdown of this level and a sustained move below it will let the price decline to 1593.75 support. Alternative scenario The upward rebound from 1611.89 and pullback above 1620.00 (the middle line of Bollinger Bands) will be a sign of the upward movement formation and let the price test the 1625.00 strong resistance. The breakout of this level could trigger a pair’s fresh run-up to a one-week high surrounding 1631.89-1634.75. Technical indicators Technical indicators mostly maintain a sell signal. Bollinger Bands are pointed sideways. MACD volumes are decreasing in the positive zone. Stochastic’s lines are pointed downwards and are reaching the oversold area. Support and resistance Support levels: 1610.59, 1604.00, 1593.75. Resistance levels: 1620.00, 1625.00, 1631.89. Trading recommendations Short positions can be opened below the level of 1610.59 with the target at around 1604.00 and stop-loss at 1612.00. Long positions can be opened above the level of 1620.00 with the target at around 1625.00 and stop-loss at 1618.50. Link to comment Share on other sites More sharing options...
Andy.atx Posted March 31, 2020 Share Posted March 31, 2020 NZD/USD: TECHNICAL ANALYSIS 31.03.20 Current trend On the 4-hour chart, the instrument is correcting up from the middle line of the Bollinger Bands (0.59520). Judging by the upward direction of the Stochastic the pair has the potential of growth to the area of 0.60681 (last week high). The breakout of the 0.60376 resistance will confirm such a scenario. The area of 0.60681 can prevent the instrument from growing, as the possibility of the reverse of the price is high there. However, its breakout will let the price test the 0.61035 resistance. Alternative scenario The pullback below 0.59520 will be a signal of the downward trend resumption. In this case, the next targets of sellers will be the level of 0.59200-0.59000. The lower border seems a strong support zone, which can activate an upward rebound. If the pair refrains to respect the 0.59000 support, we will see a plunge to the next key support around the 0.58594 support. Technical indicators Technical indicators maintain a buy signal. Bollinger Bands are converging 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: 0.59814, 0.59520, 0.59200, 0.59000. Resistance levels: 0.60376, 0.60681, 0.61035. Trading recommendations Short positions can be opened below the level of 0.59814 with the target at around 0.59520 and stop-loss at 0.59912. Long positions can be opened above the level of 0.60376 with the target at around 0.60681 and stop-loss at 0.60274. Link to comment Share on other sites More sharing options...
Andy.atx Posted April 1, 2020 Share Posted April 1, 2020 USD/CAD: TECHNICAL ANALYSIS 01.04.20 Current trend The USD/CAD pair begins today’s trading with slight bullish bias due to correction. At the moment the price has met the resistance at the level of 1.41175, which coincided with the middle line of Bollinger Bands. The breakout of this level will let the price to grow to the area of 1.41300-1.41600. The upper border will be strong resistance for the short-term period. There is a high chance of a downward rebound, while its breakout would allow the growth to continue to the next important resistance 1.42000. Alternative scenario If USD/CAD cannot consolidate above the middle line of Bollinger Bands, the downward trend restoration and retest of the support levels 1.40697 – 1.40564 are possible. A significant decrease is possible after the breakdown of the 1.40381 level. In this case, the next targets of sellers will be the level of 1.40000-1.39700. Technical indicators The technical picture is mixed. Bollinger Bands are pointed sideways. MACD is slowly growing in the negative zone keeping a weak sell signal. Stochastic is pointed upwards, reflecting the high possibility of upward movement formation. Support and resistance Support levels: 1.40694, 1.40381, 1.40000, 1.39700. Resistance levels: 1.41175, 1.41300, 1.41602, 1.42000. Trading recommendations Short positions can be opened below the level of 1.40381 with the target at around 1.40000 and stop-loss at 1.40508. Long positions can be opened above the level of 1.41602 with the target at around 1.42000 and stop-loss at 1.41472. Link to comment Share on other sites More sharing options...
Andy.atx Posted April 1, 2020 Share Posted April 1, 2020 EUR/USD: TECHNICAL ANALYSIS 01.04.20 Current trend On the 4-hour chart, the instrument is consolidating below the middle line of the Bollinger Bands around the 1.10200 support. The pair has a potential for a decline to the 1.09863 support, which will be the first strong support on the way down. The breakdown and sustained move below it will accelerate EUR/USD towards 1.09500-1.09422 support-zone. Alternative scenario The upward rebound from 1.10000 and pullback above 1.10474 ( middle line of the Bollinger Bands) will cancel a downward trend scenario and give a prospect of growth to the area of 1.10700-1.11084 resistance. The upper border seems a strong level which can activate a downward reverse of the price. Meanwhile, the decisive breakout of 1.11084 will accelerate the upward dynamic towards the 1.11300-1.11694 zone. Technical indicators The technical picture is mixed. Bollinger Bands are pointed sideways. MACD volumes are decreasing in the 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: 1.09863, 1.09422, 1.09253. Resistance levels: 1.10474, 1.10700, 1.11084. Trading recommendations Short positions can be opened below the level of 1.09863 with the target at around 1.09422 and stop-loss at 1.10010 Long positions can be opened above the level of 1.10474 with the target at around 1.10700-1.10800and stop-loss at 1.10354. Link to comment Share on other sites More sharing options...
Andy.atx Posted April 1, 2020 Share Posted April 1, 2020 USD/CHF: TECHNICAL ANALYSIS 01.04.20 Current trend On the 4-hour chart, the instrument is consolidating above the middle line of Bollinger Bands around the 0.96000 mark. Despite this, we can see that growth' potential is reduced. If the sellers manage to raise the rate below the level of .0.95900-0.95825 the downward dynamic can continue to the area of 0.95583 support. This level can activate an upward correction in the short-term period. However, the breakdown and pair’s sustained move below it will accelerate the plunge towards 0.95215 support. Alternative scenario The upward rebound from 0.96000 and pullback above 0.69270 will let the price test 0.96436 resistance. The decisive breakout of this level is needed to indicate the upward trend resumption. In this case, the next targets of buyers will be the area of 0.96629-0.96852 resistance. Technical indicators Technical indicators mostly maintain a sell signal. Bollinger Bands are pointed sideways. MACD histogram has moved to a decline, forming a weak sell signal. Stochastic’s lines are pointed downwards and are reaching the oversold area. Support and resistance Support levels: 0.96000, 0.95825, 0.95583, 0.95215. Resistance levels: 0.96270, 0.96436, 0.96629, 0.96852. Trading recommendations Short positions can be opened below the level of 0.95900 with the target at around 0.95583 and stop-loss at 0.96005. Long positions can be opened above the level of 0.96436 with the target at around 0.96629-0.96800 and stop-loss at 0.96314. Link to comment Share on other sites More sharing options...
Andy.atx Posted April 2, 2020 Share Posted April 2, 2020 GBP/USD: TECHNICAL ANALYSIS 02.04.20 Current trend On the 4-hour chart, the instrument is in the stage of consolidation around the 1.23850 level, which coincided with the middle line of Bollinger Bands. If the "bulls" manage to raise the rate above the level of 1.24000, the growth can continue to the area of 1.24376-1.24512 resistance. The upper border seems a strong hurdle, which can prevent the instrument from growing. Meanwhile, a significant breakout of 1.24512 could trigger a pair' active run-up to the last week high surrounding 1.24846. Alternative scenario The pullback below 1.23700 will be a sign of the downward trend formation and give a prospect of decline to the area of 1.23500-1.23200 support. The key level for the pair will be 1.23000 support. The sellers will be looking for successful trading below it to challenge the 1.22500 mark. Technical indicators The technical picture is mixed. Bollinger Bands are pointed sideways. MACD volumes are in the positive zone and are moving along the zero line. Stochastic is pointed upwards, forming a weak buy signal. Support and resistance Support levels: 1.23850, 1.23500, 1.23200, 1.23000. Resistance levels: 1.24000, 1.24376, 1.24512, 1.24846. Trading recommendations Short positions can be opened below the level of 1.23700 with the target at around 1.23400 and stop-loss at 1.23800. Long positions can be opened above the level of 1.24000 with the target at around 1.24376 and stop-loss at 1.23874. Link to comment Share on other sites More sharing options...
Andy.atx Posted April 2, 2020 Share Posted April 2, 2020 AUD/USD: TECHNICAL ANALYSIS 02.04.20 Current trend On a 4-hour chart, AUD/USD is trading below the middle line of Bollinger Bands suggesting bearish momentum. The first strong support zone for the pair seems the area of levels 0.60621-0.60465. The breakdown of the lower border will give a prospect of decline to 0.60089-0.59814 support. Alternative scenario The upward rebound from 0.60465 support could lead the price back to 0.60936 resistance. The upward trend will be restored after the price is set above the level of 0.61160, which is the middle line of Bollinger Bands. In this case, the buyers will aim for the level of 0.61500-0.61800 resistance zone. Technical indicators Technical indicators mostly keep a sell signal, but the upward correction is possible in the short term. Bollinger Bands are slightly leaned downwards, reflecting the moderate development of the downward trend. MACD histogram is ready to enter the negative zone and form 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: 0.60621, 0.60465, 0.60089, 0.59814. Resistance levels: 0.60936, 0.61160, 0.61500, 0.61800. Trading recommendations Short positions can be opened below the level of 0.60465 with the target at around 0.60089 and stop-loss at 0.60590. Long positions can be opened above the level of 0.61160 with the target at around 0.61500 and stop-loss at 0.61046. Link to comment Share on other sites More sharing options...
Andy.atx Posted April 2, 2020 Share Posted April 2, 2020 USD/JPY: TECHNICAL ANALYSIS 02.04.20 Current trend During today's Asian session, USD/JPY is trading up amid the correction. At the moment the price has met the resistance at the level of 107.565. The breakout of this level will let the price grow to the area of 107.813, which is the key target of the upward correction. There is a high chance of a downward rebound, while its breakout would allow the growth to continue to the area of 108.000-108.300. Alternative scenario The downward rebound from 107.813 and pullback below 107.300 could lead the price back to yesterday's low surrounding 107.000 support. The breakdown of this level will be a signal of the downward trend resumption and give a prospect of decline to the area of 106.500-106.250. The lower border seems an important support-line, which can activate an upward reverse of the price. Meanwhile, the decisive breakdown of 106.200 could trigger a pair active plunge to 106.000-105.700. Technical indicators The technical picture is mixed. Bollinger Bands are pointed sideways. 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: 107.290, 107.031, 106.500, 106.250. Resistance levels: 107.813, 108.000, 108.300, 108.594. Trading recommendations Short positions can be opened below the level of 107.000 with the target at around 106.600 and stop-loss at 107.130. Long positions can be opened above the level of 107.813 with the target at around 108.100 and stop-loss at 107.720. Link to comment Share on other sites More sharing options...
Andy.atx Posted April 3, 2020 Share Posted April 3, 2020 NZD/USD: TECHNICAL ANALYSIS 03.04.20 Current trend On the 4-hour chart, the instrument is consolidating below the middle line of the Bollinger Bands in the narrow side channel 0.58947-0.59215. The pair has the potential for downward trend resumption. The breakdown of 0.58947 will let the price decline to the area of 0.58793-0.58594 support-zone, which seems a key level for the sellers. The breakdown of the lower border could trigger a pair’s active decline to a local low surrounding 0.58000. Alternative scenario If the "bulls" manage to raise the rate above the level of 0.59300 (the middle line of Bollinger bands), the growth can continue to the area of 0.59500-0.59814 resistance. The upper border of this zone seems a strong resistance for the pair. The breakout of this level and a sustained move above it will be a signal of the upward trend resumption and give a prospect of growth to the area of 0.60000-0.604025. Technical indicators The technical picture is mixed. Bollinger Bands are pointed sideways. 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: 0.58947, 0.58793, 0.58594. Resistance levels: 0.59300, 0.59500, 0.59814, 0.60000. Trading recommendations Short positions can be opened below the level of 0.58947 with the target at around 0.58594 and stop-loss at 0.59064. Long positions can be opened above the level of 0.59300 with the target at around 0.59600 and stop-loss at 0.59200. Link to comment Share on other sites More sharing options...
Andy.atx Posted April 3, 2020 Share Posted April 3, 2020 EUR/JPY: TECHNICAL ANALYSIS 03.04.20 Current trend EUR/JPY quotes attempted to grow, but reaching 117.472 mark moved to a downward correction. Now we can see the pair is trying to consolidate below the 117.000 support. If the pair manages to break this level, the decline will continue to the area 116.700-116.406. The lower border of this range can activate an upward reverse of the price. Meanwhile, the breakdown of 116.400 can diver market to 116.000 support. Alternative scenario The pullback above 117.387 resistance will be a sign of the upward trajectory development and let the price grow to the area of 117.750 resistance (the middle line of Bollinger bands). One may speak about upward movement continuation after the price consolidates above the resistance level of 117.969. In this case, the next targets of buyers will be the level of 118.200-118.500. Technical indicators Technical indicators mostly keep a sell signal, but the upward correction is possible in the short term. Bollinger Bands are pointed downwards. MACD histogram is in the negative zone keeping a signal for the opening of sell positions. Stochastic is pointed upwards, reflecting the high possibility of upward movement formation. Support and resistance Support levels: 117.000, 116.700, 116.406, 116.000. Resistance levels: 117.188, 117.387, 117.750, 117.969, 118.200. Trading recommendations Short positions can be opened below the level of 117.000 with the target at around 116.700 and stop-loss at 117.100. Long positions can be opened above the level of 117.387 with the target at around 117.750 and stop-loss at 117.266. Link to comment Share on other sites More sharing options...
Andy.atx Posted April 3, 2020 Share Posted April 3, 2020 XAU/USD: TECHNICAL ANALYSIS 03.04.20 Current trend XAU/USD is in the stage of a downward correction after growing to the level of 1620.11. At the moment the price has met the support at the level of 1608.24. Breakdown of this level and a sustained move below it will be a signal of the downward correction development and let the price decline to the area of 1600.00-1595.44 support. This level seems a key target of the correction. There is a chance of an upward rebound, while its breakdown would accelerate the fall towards 1585.63. Alternative scenario The upward rebound from 1608.25 and pullback above 1620.11 will give a prospect of growth to the area of 1625.00. This level seems a strong resistance, which can activate a downward reverse. However, the decisive breakout of 1625.00 is needed to indicate an upward trend resumption. In this case, the next targets of buyers will be the level of 1632.00-1635.00. Technical indicators The technical picture is mixed. Bollinger Bands are pointed sideways. 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: 1608.24, 1600.00, 1595.44, 1585.63. Resistance levels: 1620.11, 1625.00, 1632.00, 1635.00. Trading recommendations Short positions can be opened below the level of 1608.24 with the target at around 1600.00 and stop-loss at 1610.80. Long positions can be opened above the level of 1625.00 with the target at around 1632.00 and stop-loss at 1623.00. Link to comment Share on other sites More sharing options...
Andy.atx Posted April 6, 2020 Share Posted April 6, 2020 USD/CAD: TECHNICAL ANALYSIS 06.04.20 Current trend USD/CAD quotes attempted to grow, but reaching 1.42603 mark moved to a downward correction. The instrument is now testing the support level of 1.41602, which corresponds to the middle line of Bollinger Bands. There is a chance of an upward rebound, while its breakdown would accelerate the plunge to the area of 1.41245 - 1.40933. Alternative scenario The upward rebound from 1.41602 and pullback above 1.42120 will let the price re-test today's highs surrounding 1.42603. Further close above this level may push USD/CAD even higher towards the vicinity of 1.42972 resistance, which can activate a downward reverse of the price. Meanwhile, the breakout of 1.42972 could trigger a pair’s fresh run-up to a one-week high surrounding 1.43482. Technical indicators Technical indicators maintain a sell signal. Bollinger Bands are converging on the background of bearish momentum. MACD volumes are actively decreasing in the positive zone. Stochastic is pointed downwards. Support and resistance Support levels: 1.41602, 1.41245, 1.40933. Resistance levels: 1.42120, 1.42603, 1.42972, 1.43482. Trading recommendations Short positions can be opened below the level of 1.41602 with the target at around 1.41245 and stop-loss at 1.41720. Long positions can be opened above the level of 1.42120 with the target at around 1.42500 and stop-loss at 1.41993. Link to comment Share on other sites More sharing options...
Andy.atx Posted April 6, 2020 Share Posted April 6, 2020 EUR/USD: TECHNICAL ANALYSIS 06.04.20 Current trend EUR/USD is in the stage of upward correction after falling to the level of 1.07723. The first strong resistance for the pair is 1.08228. The breakout of this level will be a signal of the upward correction development and let the price grow to the area of 1.08643. The upward trend will be restored after the price is set above the level of 1.08850, which is the middle line of Bollinger Bands. In this case, the next targets of buyers will be the level of 1.09000-1.09250. Alternative scenario The pullback below 1.08032 support could lead the price back to 1.07723 support. The decisive breakdown of this level will be a signal of the downward trend resumption and give a prospect of decline to the area of 1.07422. This level seems an important line of support to watch in the short term period. There is a chance of an upward rebound, while its breakdown would allow the fall to continue to the area of 1.07000-1.06812. Technical indicators Technical indicators mostly keep a sell signal, but the upward correction is possible in the short term. Bollinger Bands are slightly leaned 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: 1.08032, 1.07723, 1.07422, 1.07000. Resistance levels: 1.08228, 1.08643, 1.08850, 1.09250. Trading recommendations Short positions can be opened below the level of 1.07723 with the target at around 1.07422 and stop-loss at 1.07823. Long positions can be opened above the level of 1.08228 with the target at around 1.08643 and stop-loss at 1.08090. Link to comment Share on other sites More sharing options...
Andy.atx Posted April 6, 2020 Share Posted April 6, 2020 USD/CHF: TECHNICAL ANALYSIS 06.04.20 Current trend USD/CHF is restoring after the decline to the level of 0.97433. Now the pair is consolidating around the 0.97656 level. If the "bulls" manage to raise the rate above the level of 0.97835, the correction can continue to the area of 0.97950. 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 0.98000-0.98267. Alternative scenario The downward rebound from 0.97639 and pullback below 0.97656 could lead the price back to 0.97433 support. Should prices continue slipping under this level, the mark of 0.97170 might try activating an upward rebound as the key sellers' target. Technical indicators The technical picture is mixed. Bollinger Bands are pointed upwards. MACD volumes are decreasing in the positive zone. Stochastic is pointed downwards. Support and resistance Support levels: 0.97656, 0.97433, 0.97170. Resistance levels: 0.97835, 0.98000, 0.98267. Trading recommendations Short positions can be opened below the level of 0.97656 with the target at around 0.97400-0.97300 and stop-loss at 0.97774. Long positions can be opened above the level of 0.97835 with the target at around 0.98100 and stop-loss at 0.97746. Link to comment Share on other sites More sharing options...
Andy.atx Posted April 9, 2020 Share Posted April 9, 2020 AUD/USD: TECHNICAL ANALYSIS 09.04.20 Current trend On the 4-hour chart, the price has tested the resistance level of 0.62494 and was slightly corrected downwards, but the general upward trend maintains. The decisive breakout of 0.62494 is needed to indicate the upward trend resumption. In this case, the growth may continue to the area of 0.62866 resistance. Alternative scenario If the sellers manage to decline the rate below the level of 0.62081, the correction can continue to the area of 0.61825, then 0.61646. The downward trend will be restored after the price is set below the level of 0.61500, which is the middle line of Bollinger Bands. In this case, the next targets of sellers will be the level of 0.61147. 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: 0.62081, 0.61825, 0.61646, 0.61500, 0.61147. Resistance levels: 0.62494,0.62866, 0.63000, 0.63477. Trading recommendations Short positions can be opened below the level of 0.62081 with the target at around 0.61825 and stop-loss at 0.62166. Long positions can be opened above the level of 0.62494 with the target at around 0.62866 and stop-loss at 0.62370. Link to comment Share on other sites More sharing options...
Andy.atx Posted April 9, 2020 Share Posted April 9, 2020 USD/JPY: TECHNICAL ANALYSIS 09.04.20 Current trend USD/JPY is in the stage of a downward correction after growing to the level of 109.058. The instrument is now trying to consolidate below the level of 108.900, which coincided with the middle line of Bollinger Bands. In case the pair manage to cross this support, the decline to the area of 108.594 can develop. The area of this level can prevent the instrument from falling, as the possibility of the reverse of the price is high there. Meanwhile, the breakdown of the 108.500 level will accelerate the plunge to the area of 108.178 support. Alternative scenario The upward rebound from 108.900 and pullback above 109.058 will be a sign of the upward trend resumption and let the price test the 109.272-109.375 resistance-zone. The upper border of this channel seems to strong resistance. There is a high chance of a downward rebound, while its breakout would give a prospect of growth to the area of 109.500-109.800. 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: 108.900, 108.594, 108.178. Resistance levels: 109.058, 109.272, 109.375, 109.500. Trading recommendations Short positions can be opened below the level of 108.900 with the target at around 108.594 and stop-loss at 109.000. Long positions can be opened above the level of 109.375 with the target at around 109.500-109.700 and stop-loss at 109.270. Link to comment Share on other sites More sharing options...
Andy.atx Posted April 9, 2020 Share Posted April 9, 2020 GBP/USD: TECHNICAL ANALYSIS 09.04.20 Current trend GBP/USD quotes attempted to grow, but reaching 1.24180 mark moved to a downward correction. Now the pair is testing the 1.23850 support after the breakdown of which, the plunge may continue to the area of 1.23596 support-line. In case the pair manage to cross this line, the level of 1.23291 will be the next key target of the correction movement. Alternative scenario One may speak about upward movement continuation after the price consolidates above the resistance level of 1.24180. In this case, the buyers will aim for the level of 1.24512 resistance. The area of 1.24512-1.24846 seems a strong resistance area, which can activate a downward reverse of the price. However, the breakout of the upper border could trigger a pair’s fresh run-up to a one-month high surrounding 1.25732. 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: 1.23850, 1.23596, 1.23291, 1.23000. Resistance levels: 1.24180, 1.24512, 1.24846, 1.25200, 1.25700. Trading recommendations Short positions can be opened below the level of 1.23850 with the target at around 1.23596 and stop-loss at 1.23934. Long positions can be opened above the level of 1.24180 with the target at around 1.24512 and stop-loss at 1.24069. Link to comment Share on other sites More sharing options...
Andy.atx Posted April 10, 2020 Share Posted April 10, 2020 EUR/JPY: TECHNICAL ANALYSIS 10.04.20 Current trend The EUR/JPY pair begins today’s trading with a slight bullish bias. The first strong resistance for the pair is located on 118.750 level. Assuming the pair’s ability to cross this level, the mark of 119.000 can be targeted if holding long positions. This level can prevent the instrument from growing, as the possibility of the reverse of the price is high there. However, it's breakout could trigger pair’s fresh run-up to a local high surrounding 119.531. Alternative scenario The downward trend will be restored after the price is set below the level of 118.360, which is the middle line of Bollinger Bands. In this case, the next targets of sellers will be the level of 117.969. This mark seems tough support as a break of which can diver market to 117.444 and the 117.188 support zone. Technical indicators The technical picture is mixed. Bollinger Bands are pointed sideways. MACD is growing in a positive zone, keeping a weak buy signal. Stochastic is pointed downwards. Support and resistance Support levels: 118.360, 117.969, 117.444, 117.188. Resistance levels: 118.750, 119.000, 119.384, 119.531. Trading recommendations Short positions can be opened below the level of 118.360 with the target at around 117.969 and stop-loss at 118.490. Long positions can be opened above the level of 118.750 with the target at around 119.000-119.100 and stop-loss at 118.634. Link to comment Share on other sites More sharing options...
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