Andy.atx Posted April 20, 2020 Share Posted April 20, 2020 NZD/USD: TECHNICAL ANALYSIS 20.04.20 Current trend On the 4-hour chart, the instrument is correcting up from the middle line of the Bollinger Bands (0.60079). The price went up above the resistance level of 0.60425 and has a potential for further growth to the area of 0.60730. This level will be a second resistance, which can stop the upward dynamic is the short-term period. Meanwhile, the breakout of this level and pair sustained move above it will be a signal of the bullish dynamic and let the price grow to the area of 0.61035. Alternative scenario The downward rebound from 0.60600 and pullback below 0.60425 could lead the price back to 0.60120 support-line. A significant decrease is possible after the breakdown of the level 0.60079 and the middle line of Bollinger Bands. In this case, the next targets of sellers will be the area of 0.59814-0.59755 support levels. Technical indicators Technical indicators maintain a buy signal. Bollinger Bands are converging 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: 0.60425, 0.60079, 0.59755, 0.59509. Resistance levels: 0.60730, 0.61035, 0.61340. Trading recommendations Long positions can be opened above the level of 0.60730 with the target at around 0.61035 and stop-loss at 0.60628. Short positions can be opened below the level of 0.60079 with the target at around 0.59755 and stop-loss at 0.60187. Link to comment Share on other sites More sharing options...
Andy.atx Posted April 21, 2020 Share Posted April 21, 2020 USD/CHF: TECHNICAL ANALYSIS 21.04.20 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 0.97129. Assuming the pair’s ability to cross this mark, the area of 0.97233-0.97351 resistance can be targeted if holding long positions. The upper border of this zone might activate a temporary downward correction of the price amid the technical profit fixation. Further close above the 0.97351 level may push USD/CHF even higher towards the area of 0.97656 resistance. Alternative scenario The downward rebound from 0.97129 and pullback below 0.96945 will be a sign of the downward correction formation and let the price decline to the area of 0.96741 level, which coincided with the middle line of Bollinger Bands. The breakdown of this level and pair’s sustained trading below it will give a prospect of decline to the area of 0.96436. 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. Support and resistance Support levels: 0.96945, 0.96741, 0.96436. Resistance levels: 0.97129, 0.97351, 0.97656. Trading recommendations Short positions can be opened below the level of 0.96741 with the target at around 0.96436 and stop-loss at 0.96840. Long positions can be opened above the level of 0.9712 Link to comment Share on other sites More sharing options...
Andy.atx Posted April 21, 2020 Share Posted April 21, 2020 USD/CAD: TECHNICAL ANALYSIS 21.04.20 Current trend On the 4-hour chart, USD/CAD is moderately growing. The price is testing the resistance level of 1.41766. The area of 1.41766-1.41815 seems a strong resistance zone. The decisive breakout of the upper border is needed to indicate the upward trend resumption. In this case, the next targets of buyers will be the level of 1.42000-1.42212. Alternative scenario The downward rebound from 1.41766 and pullback below 1.41400 could lead the price back to 1.40991 support. This level is almost coincided with the middle line of Bollinger Bands and can activate an upward rebound. Meanwhile, its breakdown will let the price re-test the 1.40661 support. One may speak about downward movement continuation after the price consolidates below the support level of 1.40600. In this case, the next targets of sellers will be the level of 1.40381. 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: 1.41400, 1.40991, 1.40661, 1.40381. Resistance levels: 1.41766, 1.42000, 1.42212. Trading recommendations Short positions can be opened below the level of 1.40991 with the target at around 1.40661 and stop-loss at 1.41090. Long positions can be opened above the level of 1.41766 with the target at around 1.42000-1.42100 and stop-loss at 1.41660. Link to comment Share on other sites More sharing options...
Andy.atx Posted April 21, 2020 Share Posted April 21, 2020 EUR/USD: TECHNICAL ANALYSIS 21.04.20 Current trend On the 4-hour chart, the instrument keeps a negative dynamic. The price has tested the support level of 1.08252 and was slightly corrected upwards, but the downward trend maintains. Should prices continue slipping under 1.08250, the plunge will continue to the area of 1.08032. This level seems strong support, which can activate an upward rebound in a short-term period. However, its breakdown will accelerate the downward dynamic and let the price decline to the area of 1.07727. Alternative scenario The upward rebound from 1.08252 and pullback above 1.08490 will be a sign of the upward correction development. The first target of the correction will be the level of 1.08643, which corresponds to 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 1.08948. Technical indicators Technical indicators maintain a sell signal. Bollinger Bands are pointed downwards. MACD is growing in the negative zone. Stochastic’s lines are pointed downwards and are reaching the oversold area. Support and resistance Support levels: 1.08252, 1.08032, 1.07727. Resistance levels: 1.08643, 1.08948, 1.09253. Trading recommendations Short positions can be opened below the level of 1.08252 with the target at around 1.08000 and stop-loss at 1.08336. Long positions can be opened above the level of 1.08643 with the target at around 1.08948 and stop-loss at 1.08543. Link to comment Share on other sites More sharing options...
Andy.atx Posted April 22, 2020 Share Posted April 22, 2020 AUD/USD: TECHNICAL ANALYSIS 22.04.20 Current trend The AUD/USD pair begins today’s trading with a slight bullish bias. Price has tested the 0.63513 resistance (middle line of Bollinger Bands) but cannot break through it. The decisive breakout of this level is needed to indicate the upward trend resumption. In this case, the buyers will aim for the 0.63800-0.64087 area. Alternative scenario If AUD/USD cannot consolidate above the level of 0.63513 during the short-term period, the downward movement restoration and retest of the level 0.62840 are possible. The breakdown of this level could lead the price to 0.62527 support. There is a high chance of an upward rebound, while its breakdown would accelerate the plunge to the area of 0.62256. 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 weak signal for the opening of sell positions. Stochastic is pointed upwards, reflecting the high possibility of upward movement formation. Support and resistance Support levels: 0.62840, 0.62527, 0.62256. Resistance levels: 0.63513, 0.63800, 0.64087. Trading recommendations Short positions can be opened below the level of 0.62840 with the target at around 0.62527 and stop-loss at 0.62944. Long positions can be opened above the level of 0.63513 with the target at around 0.63800 and stop-loss at 0.63420. Link to comment Share on other sites More sharing options...
Andy.atx Posted April 22, 2020 Share Posted April 22, 2020 USD/JPY: TECHNICAL ANALYSIS 22.04.20 Current trend On the 4-hour chart, USD/JPY is in the stage of a downward correction after growing to the level of 107.887. The price went down below the level of 107.650 (the middle line of Bollinger Bands) and can fall further to the area of 107.422-107.275. The lower border of this channel can activate an upward rebound. However, its breakdown can trigger a pair’s active plunge to a one week low surrounding 107.031. Alternative scenario The pullback above 107.700 resistance will let the price re-test the 107.813 level, which seems a strong resistance. One may speak about upward movement continuation after the price consolidates above the level of 108.000. In this case, the buyers will aim for the 108.203-108.512 resistance-zone. Technical indicators Technical indicators maintain a sell signal. Bollinger Bands are pointed downwards. MACD volumes are in the negative zone and are moving along the zero line. Stochastic has left the overbought area and is pointed downwards, reflecting the high possibility of the downward movement formation. Support and resistance Support levels: 107.563, 107.422, 107.275, 107.031. Resistance levels: 107.650, 107.813, 108.203, 108.512. Trading recommendations Short positions can be opened below the level of 107.422 with the target at around 107.100 and stop-loss at 107.500. Long positions can be opened above the level of 108.000 with the target at around 108.203-108.300 and stop-loss at 107.900. Link to comment Share on other sites More sharing options...
Andy.atx Posted April 22, 2020 Share Posted April 22, 2020 GBP/USD: TECHNICAL ANALYSIS 22.04.20 Current trend GBP/USD price is in the stage of consolidation after a significant decline over the past three weeks. At the moment the price has met the support around the 1.22681 support-line. Should prices continue slipping this level, the mark of 1.22464 might try activating a U-turn. However, the breakdown of this level will be a signal of the downward trend resumption and give a prospect of decline to the area of 1.22070 support. Alternative scenario The upward rebound from 1.22681 and pullback above 1.23291 will be a signal of the upward correction formation. In this case, the growth may continue to the area of 1.23901 resistance. The area if 1.23901-1.24140 seems a key target of the upward correction, which can prevent the instrument from the growing. Meanwhile, the breakout of the upper border is needed to indicate the upward trend resumption. In this case, the buyers will aim for the 1.24512 resistance. Technical indicators Technical indicators mostly keep a sell signal, but the upward correction is possible in the short term. Bollinger Bands are diverging on the background of bearish momentum. MACD is growing in 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: 1.22681. 1.22464, 1.22070. Resistance levels: 1.23291, 1.23600, 1.23901, 1.24140. Trading recommendations Short positions can be opened below the level of 1.22464 with the target at around 1.22070 and stop-loss at 1.22595. Long positions can be opened above the level of 1.23291 with the target at around 1.23600 and stop-loss at 1.23200 Link to comment Share on other sites More sharing options...
Andy.atx Posted April 23, 2020 Share Posted April 23, 2020 EUR/JPY: TECHNICAL ANALYSIS 23.04.20 Current trend On the 4-hour chart, the instrument keeps a moderate negative dynamic. The first strong support area for the pair is located in the 116.406-116.207 range. The breakdown of the lower border will be a signal of the downward trend resumption and give a prospect of decline to the area of 116.016-115.855 support. Alternative scenario The upward rebound from 116.406 and pullback above 116.660 could lead the price to 116.797 level, which coincided with the middle line of Bollinger Bands. This level can prevent the instrument from growing, as the key target of the correction. Meanwhile, the breakout of 116.800 and the pair’s sustained trading above it will be a signal of the upward trend resumption. In this case, the buyers will aim for the 117.000-117.188 resistance. Technical indicators Technical indicators maintain a sell signal. Bollinger Bands are pointed downwards. MACD is growing in the negative zone. Stochastic’s lines are pointed downwards and are reaching the oversold area. Support and resistance Support levels: 116.406, 116.207, 116.016, 115.855. Resistance levels: 116.797, 117.000, 117.188, 117.400. Trading recommendations Short positions can be opened below the level of 116.406 with the target at around 116.207-116.100 and stop-loss at 116.500. Long positions can be opened above the level of 116.800 with the target at around 117.000-117.100 and stop-loss at 116.700. Link to comment Share on other sites More sharing options...
Andy.atx Posted April 23, 2020 Share Posted April 23, 2020 XAU/USD: TECHNICAL ANALYSIS 23.04.20 Current trend XAU/USD quotes attempted to grow, but reaching 1719.30 mark moved to a downward correction. At the moment the price has met the support at the level of 1706.93. Should prices continue slipping under this level, the area of 1703.13-1700.90 can activate an upward rebound. However, the breakdown of the lower border and sustained move below it will give a prospect of decline to the 1687.50 support, which coincided with the middle line of Bollinger Bands. Alternative scenario If the "bulls" manage to raise the rate above the level of 1719.30, the growth can continue to the area of 1726.56 resistance. Assuming the pair’s ability to cross this mark, the level of 1734.38 can be targeted if holding long positions. 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: 1706.93, 1700.90, 1687.50. Resistance levels: 1719.30, 1726.56, 1734.38. Trading recommendations Short positions can be opened below the level of 1706.93 with the target at around 1700.90 and stop-loss at 1708.90. Long positions can be opened above the level of 1719.30 with the target at around 1726.56 and stop-loss at 1717.00. Link to comment Share on other sites More sharing options...
Andy.atx Posted April 23, 2020 Share Posted April 23, 2020 NZD/USD: TECHNICAL ANALYSIS 23.04.20 Current trend NZD/USD is in the stage of upward correction after falling to the level of 0.59095. The first resistance for the pair is located on the 0.59556 level. If the "bulls" manage to raise the rate above it, the correction can continue to the area of 0.59814, 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 0.60120 resistance. Alternative scenario The downward rebound from 0.59556 could lead the price back to the 0.59204-0.59095 support zone. The breakdown of the lower borders is needed to indicate the downward trend resumption. In this case, the next targets of sellers will be the level of 0.58899-0.58594. 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 ready to leave the oversold area and is pointed upwards, reflecting the high possibility of upward movement formation. Support and resistance Support levels: 0.59204, 0.59095, 0.58899, 0.58594. Resistance levels: 0.59509,0.59814, 0.60120, 0.60425. Trading recommendations Short positions can be opened below the level of 0.59095 with the target at around 0.58899-0.58800 and stop-loss at 0.59190. Long positions can be opened above the level of 0.59509 with the target at around 0.59814 and stop-loss at 0.59410. Link to comment Share on other sites More sharing options...
Andy.atx Posted April 24, 2020 Share Posted April 24, 2020 USD/CHF: TECHNICAL ANALYSIS 24.04.20 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 0.97742. In case the pair manage to cross this hurdle, the growth may continue to the area of 0.97961 resistance. The area of 0.97742-0.97961 seems an overbought zone, which can activate a downward rebound. However, the breakout of 0.97961 can accelerate the pair toward a one-month high surrounding 0.98267 resistance. Alternative scenario The downward rebound from 0.97742 and pullback below the 0.97656 support will be a sign of the downward correction development and let the price decline to 0.97495. The breakdown of this level is needed to confirm the downward correction development. In this case, the sellers will aim for the 0.97351-0.97208 support-zone. Technical indicators Technical indicators maintain a buy signal. Bollinger Bands are pointed upwards. MACD is growing in a positive zone. Stochastic is pointed upwards, reflecting the high possibility of upward movement formation. Support and resistance Support levels: 0.97656, 0.97495, 0.97351, 0.97208. Resistance levels: 0.97742, 0.97961, 0.98267. Trading recommendations Short positions can be opened below the level of 0.97495 with the target at around 0.97351-0.97208 and stop-loss at 0.97590. Long positions can be opened above the level of 0.97742 with the target at around 0.97961-0.98000 and stop-loss at 0.97660. Link to comment Share on other sites More sharing options...
Andy.atx Posted April 24, 2020 Share Posted April 24, 2020 USD/CHF: TECHNICAL ANALYSIS 24.04.20 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 0.97742. In case the pair manage to cross this hurdle, the growth may continue to the area of 0.97961 resistance. The area of 0.97742-0.97961 seems an overbought zone, which can activate a downward rebound. However, the breakout of 0.97961 can accelerate the pair toward a one-month high surrounding 0.98267 resistance. Alternative scenario The downward rebound from 0.97742 and pullback below the 0.97656 support will be a sign of the downward correction development and let the price decline to 0.97495. The breakdown of this level is needed to confirm the downward correction development. In this case, the sellers will aim for the 0.97351-0.97208 support-zone. Technical indicators Technical indicators maintain a buy signal. Bollinger Bands are pointed upwards. MACD is growing in a positive zone. Stochastic is pointed upwards, reflecting the high possibility of upward movement formation. Support and resistance Support levels: 0.97656, 0.97495, 0.97351, 0.97208. Resistance levels: 0.97742, 0.97961, 0.98267. Trading recommendations Short positions can be opened below the level of 0.97495 with the target at around 0.97351-0.97208 and stop-loss at 0.97590. Long positions can be opened above the level of 0.97742 with the target at around 0.97961-0.98000 and stop-loss at 0.97660. Link to comment Share on other sites More sharing options...
Andy.atx Posted April 24, 2020 Share Posted April 24, 2020 USD/CAD: TECHNICAL ANALYSIS 24.04.20 Current trend USD/CAD is in the stage of upward correction after falling to the level of 1.39990, but the general downward trend is still maintained. The first support for the pair is located around the 1.40381 level. Should prices continue slipping under this mark, yesterday's low 1.39990 might try activating a U-turn. Meanwhile, the decisive breakdown of 1.39990 is needed to indicate the downward trend resumption. In this case, the next targets of sellers will be the level of 1.39771-1.39500. Alternative scenario If the "bulls" manage to raise the rate above the level of 1.40991, the correction can continue to the area of 1.41300-1.41602. The upper border seems a key target of the upward correction, which can activate a downward rebound. Meanwhile, the breakout of 1.41602 and the pair’s sustained trading above it will be a signal of the upward trend resumption and let the price grow to the area of 1.41900-1.42212 resistance. Technical indicators Technical indicators mostly keep a sell signal, but the upward correction is possible in the short term. Bollinger Bands are diverging on the background of bearish momentum. MACD is growing in 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: 1.40381, 1.39990, 1.39771, 1.39400. Resistance levels: 1.40991, 1.41300, 1.42212. Trading recommendations Short positions can be opened below the level of 1.40381 with the target at around 1.39990 and stop-loss at 1.40511. Long positions can be opened above the level of 1.40991 with the target at around 1.41300 and stop-loss at 1.40888. Link to comment Share on other sites More sharing options...
Andy.atx Posted April 24, 2020 Share Posted April 24, 2020 EUR/USD: TECHNICAL ANALYSIS 24.04.20 Current trend On the 4-hour chart, the instrument is falling along the lower line of the Bollinger Bands. At the moment the price has met the support at the level of 1.07609. Assuming the pair’s ability to cross this mark, the level of 1.07422 can be targeted if holding short positions. This level seems a strong support-line, which can activate an upward reverse of the price. However, the decisive breakdown of 1.07400 will be a signal of the downward trend resumption and give a prospect of decline to the area of 1.07117 support. Alternative scenario The upward rebound from 1.07609 and pullback above 1.07845 will be a sign of the upward correction resumption and let the price grow to the area of 1.08032-1.08220. The upper border of this channel seems a key target of the correction and can prevent the instrument from growing. One may speak about upward movement continuation after the price consolidates above the resistance level of 1.08337. In this case, the next target of buyers will be the level of 1.08643. Technical indicators Technical indicators maintain a sell signal. Bollinger Bands are pointed downwards. MACD is growing in the negative zone. Stochastic’s lines are pointed downwards and are reaching the oversold area. Support and resistance Support levels: 1.07609, 1.07422, 1.07400, 1.07117. Resistance levels: 1.07845, 1.08032, 1.08220, 1.08330, 1.08643. Trading recommendations Short positions can be opened below the level of 1.07609 with the target at around 1.07422-1.07300 and stop-loss at 1.07700. Long positions can be opened above the level of 1.07845 with the target at around 1.08032-1.08100 and stop-loss at 1.07760. Link to comment Share on other sites More sharing options...
Andy.atx Posted April 27, 2020 Share Posted April 27, 2020 AUD/USD: TECHNICAL ANALYSIS 27.04.20 Current trend On the 4-hour chart, the instrument shows a positive dynamic. The price went up above the level of 0.64392 and can grow further to the levels of 0.64697. This level will be a first strong resistance, which can prevent the instrument from growing. Meanwhile, the breakout of 0.64700 can accelerate the pair towards the 0.65000-0.65308 overbought area. Alternative scenario The pullback of the price below 0.64274 will be a sign of the downward correction formation and give a prospect of decline to the area of 0.64087 support. The breakdown of this level is needed to confirm the downward correction. Pair’s sustained trading below 0.64087 will let the price decline to the 0.63782 level. The downward trend will be restored after the price is set below the level of 0.63477, which is the middle line of Bollinger Bands. In this case, the next target of sellers will be the level of 0.63171. 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: 0.64392, 0.64087, 0.63782, 0.63477. Resistance levels: 0.64535,0.64700, 0.65000, 0.65308. Trading recommendations Short positions can be opened below the level of 0.64087 with the target at around 0.63782 and stop-loss at 0.64188. Long positions can be opened above the level of 0.64700 with the target at around 0.65000 and stop-loss at 0.64600. Link to comment Share on other sites More sharing options...
Andy.atx Posted April 27, 2020 Share Posted April 27, 2020 USD/JPY: TECHNICAL ANALYSIS 27.04.20 Current trend USD/JPY quotes attempted to grow, but reaching 107.616 mark moved to a decline. At the moment the price has met the support at the level of 107.285. Assuming the pair’s ability to cross this level, the mark of 107.031 can be targeted if holding short positions. This level can activate an upward reverse of the price. Meanwhile, the decisive breakdown of 107.000 is needed to indicate the downward trend resumption. In this case, the sellers will aim for the 106.836-106.640 support-zone. Alternative scenario The upward rebound from 107.285 and pullback above 107.422 will be a sign of the upward correction development and let the price re-test 107.616 resistance, which coincided with the middle line of Bollinger Bands. There is a chance of a downward rebound of the price. However, the breakout of 107.620 will be a signal of the upward trend resumption and give a prospect of growth to the area of 107.813-107.900 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: 107.285, 107.031, 106.836, 106.640. Resistance levels: 107.422, 107.616, 107.813. Trading recommendations Short positions can be opened below the level of 107.000 with the target at around 106.800-106.700 and stop-loss at 107.100. Long positions can be opened above the level of 107.422 with the target at around 107.616-107.700 and stop-loss at 107.330. Link to comment Share on other sites More sharing options...
Andy.atx Posted April 27, 2020 Share Posted April 27, 2020 USD/JPY: TECHNICAL ANALYSIS 27.04.20 Current trend USD/JPY quotes attempted to grow, but reaching 107.616 mark moved to a decline. At the moment the price has met the support at the level of 107.285. Assuming the pair’s ability to cross this level, the mark of 107.031 can be targeted if holding short positions. This level can activate an upward reverse of the price. Meanwhile, the decisive breakdown of 107.000 is needed to indicate the downward trend resumption. In this case, the sellers will aim for the 106.836-106.640 support-zone. Alternative scenario The upward rebound from 107.285 and pullback above 107.422 will be a sign of the upward correction development and let the price re-test 107.616 resistance, which coincided with the middle line of Bollinger Bands. There is a chance of a downward rebound of the price. However, the breakout of 107.620 will be a signal of the upward trend resumption and give a prospect of growth to the area of 107.813-107.900 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: 107.285, 107.031, 106.836, 106.640. Resistance levels: 107.422, 107.616, 107.813. Trading recommendations Short positions can be opened below the level of 107.000 with the target at around 106.800-106.700 and stop-loss at 107.100. Long positions can be opened above the level of 107.422 with the target at around 107.616-107.700 and stop-loss at 107.330. Link to comment Share on other sites More sharing options...
Andy.atx Posted April 27, 2020 Share Posted April 27, 2020 GBP/USD: TECHNICAL ANALYSIS 27.04.20 Current trend On the 4-hour chart, the instrument keeps a moderate positive dynamic. The price went up above the level of 1.23901 and has the potential of growing to the last week high surrounding 1.24141 level. This level seems a strong hurdle, which can activate a downward rebound. However, its breakout and a sustained move above it will be a signal of the upward trend resumption and let the price grow to the area of 1.24512. Alternative scenario The downward rebound from 1.24141 and pullback below 1.23900 will be a sign of the downward correction development and let the price re-test the 1.23670 support. Should prices continue slipping under this level, the sellers will aim for the 1.23404-1.23291 support-zone. This area seems a key target of the downward correction. There is a high chance of an upward rebound, while its breakdown would be a signal of the downward trend formation. In this case, the next target of the sellers will be 1.23000-1.22681 area. Technical indicators Technical indicators maintain a buy signal. Bollinger Bands are diverging on the background of bullish momentum. MACD volumes are decreasing in the negative zone. Stochastic is pointed upwards, reflecting the high possibility of upward movement formation. Support and resistance Support levels: 1.23900, 2.23670, 1.23404, 1.23291. Resistance levels: 1.24141, 1.24207, 1.24512. Trading recommendations Short positions can be opened below the level of 1.23670 with the target at around 1.23404 and stop-loss at 1.23758. Long positions can be opened above the level of 1.24207 with the target at around 1.24512 and stop-loss at 1.24107. Link to comment Share on other sites More sharing options...
Andy.atx Posted April 28, 2020 Share Posted April 28, 2020 EUR/JPY: TECHNICAL ANALYSIS 28.04.20 Current trend On the 4-hour chart, EUR/JPY quotes are consolidating around the support-line 116.016. The breakdown of this level is needed to resume the downward trend. In this case, the sellers will aim for 115.779 – 115.625 support zone. The area of 115.625-115.534 can activate an upward reverse of the price. However, the breakdown of the lower border will give a prospect of decline to the area of 115.200-115.000. Alternative scenario The upward rebound from 116.016 and pullback above 116.211 will let the price re-test the 116.406 resistance. One may speak about upward movement continuation after the price consolidates above the resistance level of 116.500. In this case, the next targets of buyers will be the level of 116.797. Technical indicators Technical indicators maintain a sell signal. Bollinger Bands are converging on the background of bearish momentum. MACD is growing in the negative zone. Stochastic’s lines are pointed downwards and are reaching the oversold area. Support and resistance Support levels: 116.016, 115.625, 115.200, 115.000. Resistance levels: 116.211, 116.406, 116.797. Trading recommendations Short positions can be opened below the level of 116.016 with the target at around 115.700 and stop-loss at 116.116. Long positions can be opened above the level of 116.500 with the target at around 116.797 and stop-loss at 116.400. Link to comment Share on other sites More sharing options...
Andy.atx Posted April 28, 2020 Share Posted April 28, 2020 XAU/USD: TECHNICAL ANALYSIS 28.04.20 Current trend On the 4-hour chart, the instrument is falling along the lower line of the Bollinger Bands. If the current trend maintains, the next target of the sellers will be the area of 1690.00-1687.50. The lower border of this range can prevent the instrument from falling, as the possibility of the reverse of the price is high there. However, its breakdown can trigger a pair active plunge to the 1680.00 support. Alternative scenario The upward rebound from 1690.00 and pullback above 1703.13 will be a sign of the upward correction and let the price grow to the first resistance area 1707.13-1710.94. The breakout of the upper border can accelerate the pair towards 1718.75 level, which seems a key target of the correction movement. Technical indicators Technical indicators maintain a sell signal. Bollinger Bands are diverging on the background of bearish momentum. MACD histogram is ready to enter the negative zone and form a sell signal. Stochastic’s lines are pointed downwards and are reaching the oversold area. Support and resistance Support levels: 1690.00, 1687.50, 1680.00. Resistance levels: 1703.13, 1707.13, 1710.94, 1718.75. Trading recommendations Short positions can be opened below the level of 1687.50 with the target at around 1680.00 and stop-loss at 1690.00. Long positions can be opened above the level of 1703.13 with the target at around 1710.94 and stop-loss at 1701.80. Link to comment Share on other sites More sharing options...
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