Andy.atx Posted April 10, 2020 Report Share Posted April 10, 2020 XAU/USD: TECHNICAL ANALYSIS 10.04.20 Current trend On the 4-hour chart, the price has tested the resistance level of 1690.36 and was slightly corrected downwards, but the upward trend maintains. Price return above the strong resistance 1687.50 will let XAU/USD re-test today's high 1690.36, after the breakout of which the growth may continue to the 1695.00-1703.13 resistance zone. Alternative scenario The downward rebound from 1690.36 and pullback below 1679.00 will be a sign of the downward correction development and let the price decline to 1671.88 support. The breakdown of this level will confirm the scenario of the downward correction and give a prospect of decline to 1664.06-1656.25 area. The lower border of this range coincides with the middle line of Bollinger Bands. There is a high chance of an upward rebound, while its breakdown would accelerate the plunge towards 1640.63. 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 in the overbought area and is pointed downwards, reflecting the high possibility of the downward correction formation. Support and resistance Support levels: 1679.69, 1671.88, 1664.06, 1656.25. Resistance levels: 1687.50, 1690.36, 1695.00, 1703.13. Trading recommendations Short positions can be opened below the level of 1679.69 with the target at around 1671.88 and stop-loss at 1682.20 Long positions can be opened above the level of 1690.36 with the target at around 1695.00 and stop-loss at 1689.00. Link to comment Share on other sites More sharing options...
Andy.atx Posted April 10, 2020 Report Share Posted April 10, 2020 NZD/USD: TECHNICAL ANALYSIS 10.04.20 Current trend On the 4-hour chart, the instrument keeps the potential of the upward movement. Now the price went up above the 0.60730 resistance and can re-test the local high surrounding 0.60948, which impedes growth to 0.61035 level. This area seems a strong resistance, which can activate a downward reverse of the price. Meanwhile, the breakout of this level will give a prospect of growth to 0.61340 mark. Alternative scenario The downward rebound from 0.60948 and pullback below 0.60730 will be a sign of the downward correction development and let the price decline 0.60550-0.60425 support zone. The breakdown of the 0.60425 is needed to confirm the downward correction resumption. In this case, the plunge can continue to the 0.60000 level, which coincided with the middle line of Bollinger Bands. It’s an important line of support to watch in the near-term period. The breakdown of 0.60000 and a sustained move below it will be a signal of the downward trend formation and let the price decline to the area of 0.59814-0.59509. Technical indicators Technical indicators maintain a buy signal. Bollinger Bands are pointed upwards. MACD is growing in a positive zone. Stochastic is in the overbought zone and pointed upwards, reflecting the high possibility of upward movement formation. Support and resistance Support levels: 0.60425, 0.60120, 0.60000, 0.59814, 0.59509. Resistance levels: 0.60948, 0.61035, 0.61340, 0.61646. Trading recommendations Short positions can be opened below the level of 0.60425 with the target at around 0.60120 and stop-loss at 0.60526. Long positions can be opened above the level of 0.61035 with the target at around 0.61340 and stop-loss at 0.60933. Link to comment Share on other sites More sharing options...
Andy.atx Posted April 13, 2020 Report Share Posted April 13, 2020 USD/CHF: TECHNICAL ANALYSIS 13.04.20 Current trend The USD/CHF pair begins today’s trading with a slight bullish bias. At the moment the price has met the resistance at the level of 0.96674. The pullback below 0.96478 will return the price back to last week's low surrounding 0.96436 support-line. This level can activate an upward reverse of the price. Meanwhile, the decisive breakdown of 0.96400 is needed to indicate the downtrend resumption. In this case, the next target of sellers will be the level of 0.96130. Alternative scenario If the "bulls" manage to raise the rate above the level of 0.96674, the correction can continue to the area of 0.96789, which coincided with the middle line of Bollinger Bands. There is a chance of a downward rebound in a short-term period. However, the breakout of 0.96800 will give a prospect of growth to the area of 0.97046-0.97227 resistance zone. Technical indicators The technical picture is mixed. Bollinger Bands are pointed downwards. MACD is decreasing in the negative zone, but still keeping a sell signal Stochastic is pointed upwards, reflecting the high possibility of upward movement formation. Support and resistance Support levels: 0.96507, 0.96436, 96130, 0.96000. Resistance levels: 0.96674, 0.96789, 0.97046, 0.97227. Trading recommendations Short positions can be opened below the level of 0.96436 with the target at around 0.96130 and stop-loss at 0.96536. Long positions can be opened above the level of 0.96789 with the target at around 0.97046 and stop-loss at 0.96700. Link to comment Share on other sites More sharing options...
Andy.atx Posted April 13, 2020 Report Share Posted April 13, 2020 USD/CAD: TECHNICAL ANALYSIS 13.04.20 Current trend USD/CAD is in the stage of upward correction after falling to the level of 1.39222, but the general downward trend is still maintained. Price has tested the midline of Bollinger Bands (1.40000) but cannot break through it. The pullback below 1.39400 will let the price re-test the 1.39222 support. The breakdown of this level will be a signal for the downward trend resumption and give a prospect of decline to the area of 1.39000-1.38855. Alternative scenario If the "bulls" manage to raise the rate above the level of 1.39771, the correction can continue to the area of 1.40000 again. There is a chance of a downward rebound. Meanwhile, the breakout of this level could trigger a pair' active growth to the area of 1.40381-1.40541. 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 sideways. Support and resistance Support levels: 1.39222, 1.39000, 1.38855. Resistance levels: 1.39771, 1.40000, 1.40381, 1.40541. Trading recommendations Short positions can be opened below the level of 1.39222 with the target at around 1.39000-1.38900 and stop-loss at 1.39300. Long positions can be opened above the level of 1.39771 with the target at around 1.40000 and stop-loss at 1.39695. Link to comment Share on other sites More sharing options...
Andy.atx Posted April 13, 2020 Report Share Posted April 13, 2020 EUR/USD: TECHNICAL ANALYSIS 13.04.20 Current trend EUR/USD quotes attempted to decline, but reaching 1.09253 support moved to an upward correction. The pullback above 1.09406 resistance-line will be a sign of the upward trend resumption and give a prospect of growth to the area of 1.09558-1.09863. The upper bound seems a key level for the buyers in the short-term period. There is a chance of an upward rebound, while its breakout would allow the growth to continue to the 1.10000-1.10327 resistance. Alternative scenario The breakdown of the 1.09253 and pair’s sustained trading below it will let the price decline to the area of 1.09000, which coincided with the middle line of Bollinger Bands. The decisive breakdown of this level is needed to indicate a downward trend resumption. In this case, the next targets of sellers will be the level of 1.08795-1.08643. Technical indicators The technical picture is mixed. Bollinger Bands are pointed upwards. MACD volumes are slowly decreasing in the positive zone. Stochastic’s lines are pointed downwards, keeping a sell signal. Support and resistance Support levels: 1.09253, 1.09000, 1.08795, 1.08643. Resistance levels: 1.09406, 1.09558, 1.09863, 1.10000. Trading recommendations Short positions can be opened below the level of 1.09000 with the target at around 1.08795-1.08700 and stop-loss at 1.09100. Long positions can be opened above the level of 1.09558 with the target at around 1.09863 and stop-loss at 1.09456. Link to comment Share on other sites More sharing options...
Andy.atx Posted April 14, 2020 Report Share Posted April 14, 2020 AUD/USD: TECHNICAL ANALYSIS 14.04.20 Current trend On the 4-hour chart, the instrument is growing along the upper line of the Bollinger Bands. The price went up above the strong resistance level of 0.64087 and can grow further to the level of 0.64697. This mark seems a strong resistance, which can activate a downward reverse of the price. Meanwhile, its breakout and sustained trading above it will give a prospect of growth to 0.65000-0.65300 resistance. Alternative scenario The downward rebound from 0.64300 and pullback below 0.64087 level will be a sign of the downward correction formation. The breakdown of the 0.63952 support will let the price decline to the area of 0.63734-0.63477. The lower border of this channel seems a key support zone for the pair in a short-term period. There is a high chance of an upward rebound, while its breakdown would allow the fall to continue to the area of 0.63000. 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: 0.64087, 0.63952, 0.63734, 0.63477. Resistance levels: 0.64300, 0.64697, 0.65000, 0.65300. Trading recommendations Short positions can be opened below the level of 0.63734 with the target at around 0.63477 and stop-loss at 0.63819. Long positions can be opened above the level of 0.64320 with the target at around 0.64697 and stop-loss at 0.64194. Link to comment Share on other sites More sharing options...
Andy.atx Posted April 14, 2020 Report Share Posted April 14, 2020 USD/JPY: TECHNICAL ANALYSIS 14.04.20 Current trend Today The USD/JPY pair begins today’s trading with a slight bearish bias. The price has tested the support level of 107.530 and was slightly corrected upwards, but the general downward trend maintains. The breakdown of 107.530 will give a prospect of decline to yesterday's low around the 107.422. There is a chance of an upward rebound, while its breakdown would accelerate the plunge to the next strong support in the area of 107.031 level. Alternative scenario The upward rebound from 107.530 and pullback above the strong resistance 107.813 will be a signal of the upward correction development and give a prospect of growth to the area of 107.931-108.081. The breakout of the upper border will push USD/JPY towards 108.203 resistance, which seems a key target of the upward correction movement. 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: 107.530, 107.422, 107.031 Resistance levels: 107.813, 108.203, 108.594. Link to comment Share on other sites More sharing options...
Andy.atx Posted April 14, 2020 Report Share Posted April 14, 2020 GBP/USD: TECHNICAL ANALYSIS 14.04.20 Current trend On the 4-hour chart, the instrument keeps a moderate positive dynamic. The price is approaching a strong resistance in the region of 1.25732. Assuming the pair’s ability to cross this level, the area of 1.26000 can be targeted if holding long positions. The breaking of 1.26000 and holding below it will push GBP/USD even higher towards the level of 1.26342. Alternative scenario The downward rebound from 1.25732 and pullback below 1.25580 will be a signal of the downward correction formation and let the price decline to the area of 1.25122. This level will be the first strong support for the pair. The breakdown of 1.25100 is needed to confirm the downward correction development. In this case, the sellers will aim for 1.24700 support-zone, which coincided with the middle line of Bollinger Bands. 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: 1.25580, 1.25122, 1.24700, 1.24512. Resistance levels: 1.25732, 1.26000, 1.26342. Trading recommendations Short positions can be opened below the level of 1.25122 with the target at around 1.24700 and stop-loss at 1.25262. Long positions can be opened above the level of 1.25732 with the target at around 1.26000 and stop-loss at 1.25638. Link to comment Share on other sites More sharing options...
Andy.atx Posted April 15, 2020 Report Share Posted April 15, 2020 EUR/JPY: TECHNICAL ANALYSIS 15.04.20 Current trend During today's Asian session, USD is trading with a slight bearish bias. The first strong support for the pair is located in the range 117.295-117.188 levels. The decisive breakdown of the lower border is needed to indicate the downward trend resumption. In this case, the next targets of sellers will be the level of 116.797. Alternative scenario The pullback above 117.742 will let the price re-test the 117.969 resistance, which coincided with the middle line of Bollinger Bands. There is a chance of downward reverse of the price. Meanwhile, the breakout of 118.000 and pair’s sustained trading above it will give a prospect of the growth to the area of 118.359 resistance. Technical indicators Technical indicators maintain a sell signal. Bollinger Bands are pointed downwards. MACD is growing in the negative zone. Stochastic lines are pointed downwards. Support and resistance Support levels: 117.188, 116.797, 116.406. Resistance levels: 117.742, 118.000, 118.359. Trading recommendations Short positions can be opened below the level of 117.188 with the target at around 116.797 and stop-loss at 117.318. Long positions can be opened above the level of 118.000 with the target at around 118.359 and stop-loss at 117.880. Link to comment Share on other sites More sharing options...
Andy.atx Posted April 15, 2020 Report Share Posted April 15, 2020 XAU/USD: TECHNICAL ANALYSIS 15.04.20 Current trend XAU/USD is in the stage of a downward correction after growing to the level of 1747.33. At the moment the price has met the support in the area of 1718.75. Assuming the pair’s ability to cross this level, the mark of 1708.49 can be targeted if holding short positions. The breakdown of this level will confirm the downward correction development and give a prospect of decline to the key correction target surrounding the 1698.00 level. Alternative scenario The upward rebound from 1718.75 and pullback above 1739.29 will let the price re-test 1747.33 level (2012 year high). There is a high chance of price reversal. One may speak about upward movement continuation after the price consolidates above the resistance level of 1750.00. In this case, the next targets of buyers will be the level of 1755.00-1760.00. Technical indicators The technical picture is mixed. Bollinger Bands are converging on the background of bearish momentum, forming a weak sell signal. MACD volumes are slowly decreasing in the positive zone, but still keeping a buy signal. Stochastic lines are pointed downwards. Support and resistance Support levels: 1718.75, 1708.49, 1698.00. Resistance levels: 1731.04, 1739.29, 1747.33, 1750.00. Trading recommendations Short positions can be opened below the level of 1718.75 with the target at around 1708.49 and stop-loss at 1722.00. Long positions can be opened above the level of 1739.29 with the target at around 1747.33 and stop-loss at 1737.00. Link to comment Share on other sites More sharing options...
Andy.atx Posted April 15, 2020 Report Share Posted April 15, 2020 NZD/USD: TECHNICAL ANALYSIS 15.04.20 Current trend The NZD/USD pair begins today’s trading with a bearish bias. Now the price is trying to consolidate below the level of 0.60675. The breakdown of this level gives a prospect of decline to the area of 0.60425 support. This level will be a key zone for the sellers. There is a high probability of a course reversal. Meanwhile, the breakdown of 0.60425 will be a signal of the downward trend resumption and let the price decline to 0.60125 support. Alternative scenario The upward rebound from 0.60730 and pullback above 0.60850 (middle line of Bollinger bands) will give a prospect of growth to the area of 0.61035 level, which seems a strong resistance line. In case the pair manage to cross this level, the growth will continue to the next resistance area 0.61295-0.61340. Technical indicators Technical indicators maintain a sell signal. Bollinger Bands are diverging on the background of bearish momentum. Stochastic lines are pointed downwards. Support and resistance Support levels: 0.60675, 0.60425, 0.60125. Resistance levels: 0.60850, 0.61035, 0.61295, 0.61340. Trading recommendations Short positions can be opened below the level of 0.60425 with the target at around 0.60125 and stop-loss at 0.60525. Long positions can be opened above the level of 0.61035 with the target at around 0.61340 and stop-loss at 0.60933. Link to comment Share on other sites More sharing options...
Andy.atx Posted April 16, 2020 Report Share Posted April 16, 2020 USD/CHF: TECHNICAL ANALYSIS 16.04.20 Current trend On the 4-hour chart, the instrument is trading above the middle line of Bollinger Bands, suggesting bullish momentum. At the moment the price has met the resistance at the level of 0.96741. Assuming the pair’s ability to consolidate above this level, the mark of 0.97000 can be targeted if holding long positions. One may speak about upward movement continuation after the price consolidates above the resistance level of 0.97046. In this case, the next targets of buyers will be the level of 0.97351. Alternative scenario If the price cannot consolidate above the level of 0.96741 during the short-term period, the price can reverse and retest the support level of 0.96436, which coincided with the middle line of Bollinger Bands. The decisive breakdown of this level is needed to indicate the downward trend resumption. In this case, the next targets of sellers will be the level of 0.96130. 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: 0.96436, 0.96130, 0.95825. Resistance levels: 0.96741, 0.97046, 0.97351. Trading recommendations Short positions can be opened below the level of 0.96436 with the target at around 0.96130 and stop-loss at 0.96530. Long positions can be opened above the level of 0.97046 with the target at around 0.97351 and stop-loss at 0.96944. Link to comment Share on other sites More sharing options...
Andy.atx Posted April 16, 2020 Report Share Posted April 16, 2020 USD/CAD: TECHNICAL ANALYSIS 16.04.20 Current trend On the 4-hour chart, the instrument is growing along the upper line of the Bollinger Bands. If the current trend maintains, the next target of the buyers will be 1.41602 level. This mark seems a strong resistance, which can activate a significant downward rebound. However, the breakout of 1.41602 could trigger a pair’s active growth to the next resistance around the 1.42000. Alternative scenario The downward rebound from 1.41602 could lead the price back to 1.40991 support. The breakdown of this level will be a signal of the downward correction formation. In this case, the decline can continue to the area of 1.40514-1.40381 support. The lower border of this channel can prevent the instrument from falling, as the possibility of the reverse of the price is high there. Meanwhile, the decisive breakdown of 1.40381 can accelerate the plunge to the round-figure 1.40000. 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: 1.40991, 1.40514, 1.40381, 1.40000. Resistance levels: 1.41360, 1.41602, 1.42000. Trading recommendations Short positions can be opened below the level of 1.40991 with the target at around 1.40514 and stop-loss at 1.41150. Long positions can be opened above the level of 1.41602 with the target at around 1.41900 and stop-loss at 1.41505. Link to comment Share on other sites More sharing options...
Andy.atx Posted April 16, 2020 Report Share Posted April 16, 2020 EUR/USD: TECHNICAL ANALYSIS 16.04.20 Current trend On the 4-hour chart, the instrument shows a moderate negative dynamic and approaching strong support, surrounding the 1.08643 level. Assuming the pair’s ability to cross this mark, the level of 1.08337 can be targeted if holding short positions. There is high a chance of an upward rebound, while its breakdown would allow the fall to continue to the next support 1.08032. Alternative scenario The upward rebound from 1.08643 could lead the price back to 1.08948 resistance. The breakout of this level is needed to confirm the upward correction development. In this case, the buyers will aim for the 1.09253 zone, which coincided with the middle line of Bollinger Bands. This level can activate a downward reverse of the price as the key target of the correction. Meanwhile, the breakout of 1.09253 and a pair’s sustained trading above it will be a signal of the upward trend formation and give a prospect of growth to 1.09558 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 is pointed downwards. Support and resistance Support levels: 1.08643, 1.08337, 1.08032. Resistance levels: 1.08948, 1.09253, 1.09558. Trading recommendations Short positions can be opened below the level of 1.08643 with the target at around 1.08337 and stop-loss at 1.08740. Long positions can be opened above the level of 1.09253 with the target at around 1.09558 and stop-loss at 1.09150. Link to comment Share on other sites More sharing options...
Andy.atx Posted April 17, 2020 Report Share Posted April 17, 2020 AUD/USD: TECHNICAL ANALYSIS 17.04.20 Current trend On the 4-hour chart, the instrument keeps a positive dynamic. The price went up above the level of 0.63843 and can grow further to the levels of 0.64087. This mark seems a strong resistance, which can activate a downward rebound of the price. However, its breakout could trigger a pair’s fresh run-up to the next local high surrounding 0.64438. Alternative scenario The downward rebound from 0.63827 could lead the price back to 0.63477 support, which coincided with the middle line of Bollinger Bands. The decisive breakdown of this level is needed to indicate the downward trend resumption. In this case, the next targets of sellers will be the level of 0.63168-0.62866. Technical indicators The technical picture is mixed. Bollinger Bands are pointed sideways. MACD is growing in a positive zone. Stochastic’s lines are pointed upwards and are reaching the overbought area. Support and resistance Support levels: 0.63477, 0.63168, 0.62866. Resistance levels: 0.63827, 0.64087, 0.64438. Trading recommendations Short positions can be opened below the level of 0.63477 with the target at around 0.63168 and stop-loss at 0.63580. Long positions can be opened above the level of 0.63827 with the target at around 0.64087 and stop-loss at 0.63200. Link to comment Share on other sites More sharing options...
Andy.atx Posted April 17, 2020 Report Share Posted April 17, 2020 USD/JPY: TECHNICAL ANALYSIS 17.04.20 Current trend USD/JPY quotes attempted to grow, but reaching 108.080 mark moved to a downward correction. The first target of the correction is the level of 107.510, which corresponds to 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 107.158 support. Alternative scenario The upward rebound from 107.510 and pullback above 107.813 will let the price re-test the 108.080 resistance. This level can activate a downward reverse of the price. The upward trend will be restored after the price is set above the level of 108.203. In this case, the buyers will aim for the 108.594 level. Technical indicators Technical indicators maintain a sell signal. Bollinger Bands are diverging on the background of bearish momentum. Stochastic is slightly leaned downwards, reflecting the moderate development of the downward trend. Support and resistance Support levels: 107.510, 107.158, 107.000. Resistance levels: 107.813, 108.080, 108.203. Trading recommendations Short positions can be opened below the level of 107.510 with the target at around 107.200 and stop-loss at 107.600. Long positions can be opened above the level of 107.813 with the target at around 108.080 and stop-loss at 107.724. Link to comment Share on other sites More sharing options...
Andy.atx Posted April 17, 2020 Report Share Posted April 17, 2020 GBP/USD: TECHNICAL ANALYSIS 17.04.20 Current trend On the 4-hour chart, the instrument is trading up and is testing the resistance 1.25217 level, which is the middle line of Bollinger Bands. The breakout of this level will be a signal of the upward trend resumption and let the price re-test the resistance area 1.25512-1.25732. This area can activate a downward rebound and pullback of the price to the middle line of Bollinger Bands. However, the breakout of the 1.25732 could fuel the ongoing upward trajectory and give a prospect of the growth to the area of 1.26000-1.26342. Alternative scenario The downward rebound from 1.25217 and pullback below 1.24700 could lead the price back to 1.24512 level, which seems strong support. Should prices continue slipping under 1.24500, the level of 1.24072 might try activating an upward rebound. One may speak about downward movement continuation after the price consolidates below the support level of 1.24000. In this case, the next targets of sellers will be the level of 1.23900-1.23594 support. Technical indicators Technical indicators reflect the moderate maintenance of the current upward trend. Bollinger Bands are pointed sideways. 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: 1.24869, 1.24512, 1.24200, 1.24072. Resistance levels: 1.25217, 1.25512, 1.25732, 1.26000. Trading recommendations Short positions can be opened below the level of 1.24512 with the target at around 1.24200 and stop-loss at 1.24600. Long positions can be opened above the level of 1.25217 with the target at around 1.25512 and stop-loss at 1.25117. Link to comment Share on other sites More sharing options...
Andy.atx Posted April 20, 2020 Report Share Posted April 20, 2020 EUR/JPY: TECHNICAL ANALYSIS 20.04.20 Current trend The EUR/JPY pair begins today’s trading with a bullish bias. At the moment the price has met the resistance at the level of 117.215, which coincided with the middle line of Bollinger Bands. There is a chance of a downward rebound, while its breakout would allow the growth to continue to the area of 117.402 resistance. The breakout of this level can accelerate the growth to the next strong resistance area around the 117.578 mark. Alternative scenario The downward rebound from 117.215 could lead the price back to 117.000 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 116.797 – 116.613 support. Technical indicators Technical indicators maintain a buy signal. Bollinger Bands are converging on the background of bullish momentum. MACD volumes are decreasing in the negative zone. Stochastic is pointed upwards, reflecting the high possibility of upward movement formation. Support and resistance Support levels: 117.000, 116.797, 116.406. Resistance levels: 117.215, 117.402, 117.578. Trading recommendations Long positions can be opened above the level of 117.215 with the target at around 117.402-117.500 and stop-loss at 117.120. Short positions can be opened below the level of 117.000 with the target at around 116.797-116.700 and stop-loss at 117.100. Link to comment Share on other sites More sharing options...
Andy.atx Posted April 20, 2020 Report Share Posted April 20, 2020 XAU/USD: TECHNICAL ANALYSIS 20.04.20 Current trend On the 4-hour chart, the instrument is falling along the lower line of the Bollinger Bands. The price has tested the support level of 1671.48 and was slightly corrected upwards, but the general downward trend maintains. The breakdown of 1671.48 is needed to indicate the downward trajectory resumption. In this case, the next targets of sellers will be the level of 1660.00. Alternative scenario The upward rebound from 1671.48 and pullback above the strong resistance 1687.50 will be a sign of the upward correction development and let the price grow to the area of 1695.10. In case the pair manage to cross this hurdle, the pair will be able to test the 1703.13 resistance, which located near 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. Technical indicators Technical indicators mostly keep a sell signal, but the upward correction is possible in the short term. Bollinger Bands are pointed downwards. MACD is growing in the negative zone. Stochastic is preparing to exit the oversold zone and is directed upwards, signaling the development of an upward correction. Support and resistance Support levels: 1671.48, 1665.00, 1660.00. Resistance levels: 1687.50, 1695.10, 1703.13. Trading recommendations Short positions can be opened below the level of 1671.48 with the target at around 1665.00-1660.00 and stop-loss at 1674.00. Long positions can be opened above the level of 1687.50 with the target at around 1695.10 and stop-loss at 1684.80. Link to comment Share on other sites More sharing options...
Andy.atx Posted April 20, 2020 Report Share Posted April 20, 2020 XAU/USD: TECHNICAL ANALYSIS 20.04.20 Current trend On the 4-hour chart, the instrument is falling along the lower line of the Bollinger Bands. The price has tested the support level of 1671.48 and was slightly corrected upwards, but the general downward trend maintains. The breakdown of 1671.48 is needed to indicate the downward trajectory resumption. In this case, the next targets of sellers will be the level of 1660.00. Alternative scenario The upward rebound from 1671.48 and pullback above the strong resistance 1687.50 will be a sign of the upward correction development and let the price grow to the area of 1695.10. In case the pair manage to cross this hurdle, the pair will be able to test the 1703.13 resistance, which located near 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. Technical indicators Technical indicators mostly keep a sell signal, but the upward correction is possible in the short term. Bollinger Bands are pointed downwards. MACD is growing in the negative zone. Stochastic is preparing to exit the oversold zone and is directed upwards, signaling the development of an upward correction. Support and resistance Support levels: 1671.48, 1665.00, 1660.00. Resistance levels: 1687.50, 1695.10, 1703.13. Trading recommendations Short positions can be opened below the level of 1671.48 with the target at around 1665.00-1660.00 and stop-loss at 1674.00. Long positions can be opened above the level of 1687.50 with the target at around 1695.10 and stop-loss at 1684.80. Link to comment Share on other sites More sharing options...
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