Andy.atx Posted May 26, 2020 Report Share Posted May 26, 2020 GBP/USD: TECHNICAL ANALYSIS 26.05.20 Current trend On a 4-hour chart, GBP/USD is trading above its middle line of Bollinger Bands suggesting bullish momentum. If the current trend maintains, the pair will grow to the area of 1.22488 resistance. This level seems the next strong hurdle, which can activate a downward reverse of the price. However, the breakout of this level can accelerate the pair towards 1.22681-1.22869. Alternative scenario The downward rebound from 1.22300 and pullback below 1.22070 support will be a sign of the downward trend resumption. The downward trend will be restored after the price is set below the level of 1.21900, which is the middle line of Bollinger Bands. In this case, the sellers will aim for the 1.21700-1.21460. Technical indicators Technical indicators maintain a buy signal. Bollinger Bands are slightly diverging on the background of bullish momentum. MACD is decreasing in the negative zone. Stochastic is pointed upwards, reflecting the high possibility of upward movement formation. Support and resistance Support levels: 1.22070, 1.21700, 1.21460. Resistance levels: 1.22300, 1.22681, 1.22900. Trading recommendations Short positions can be opened below the level of 1.22000 with the target at around 1.21700 and stop-loss at 1.22100. Long positions can be opened above the level of 1..22300 with the target at around 1.22681 and stop-loss at 1.22183. Link to comment Share on other sites More sharing options...
Andy.atx Posted May 27, 2020 Report Share Posted May 27, 2020 EUR/JPY: TECHNICAL ANALYSIS 27.05.20 Current trend On the 4-hour chart, the instrument keeps a negative dynamic. If the current trend maintains, the next target of the sellers will be 117.578 support, which coincided with the middle line of Bollinger Bands. There is a chance of an upward rebound. However, its breakdown will be a signal of the downward trend resumption and give a prospect of decline to the 117.188 support. Alternative scenario The pullback above 117.969 will be a sign of the upward trend resumption and let the price re-test 118.154-118.326 resistance area. One may speak about upward movement continuation after the price consolidates above the resistance level of 118.400. In this case, the buyers will aim for the 118.750 resistance. Technical indicators Technical indicators maintain a sell signal. Bollinger Bands are diverging on the background of bearish momentum. MACD volumes are decreasing in the positive zone. Stochastic lines are pointed downwards. Support and resistance Support levels: 117.578, 117.188, 116.797. Resistance levels: 117.969, 118.359, 118.750. Trading recommendations Short positions can be opened below the level of 117.578 with the target at around 117.200 and stop-loss at 117.704. Long positions can be opened above the level of 117.969 with the target at around 118.359 and stop-loss at 117.839. Link to comment Share on other sites More sharing options...
Andy.atx Posted May 27, 2020 Report Share Posted May 27, 2020 XAU/USD: TECHNICAL ANALYSIS 27.05.20 Current trend On the 4-hour chart, the instrument keeps a negative dynamic. The price went down below the level of 1708.00 and has the potential to further decline to the level of 1703.13. Assuming the pair’s ability to cross this mark, the level of 1700.00-1695.31 can be targeted if holding short positions. Alternative scenario If the instrument cannot consolidate below the level of 1703.13 during the short-term period, it will begin to grow to the area of 1710.94. The breakout of this level and pair’s sustained trading above it will be a sign of the upward correction development and give a prospect of the growth to the area of 1715.00-1718.75. The upper border of this range will be a first strong hurdle, which can activate a downward revers of the price. However, the decisive breakout of 1719.00 is needed to confirm the upward correction resumption. In this case, the buyers will aim for the 1723.00 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: 1703.13, 1700.00, 1695.31. Resistance levels: 1710.94, 1715.00, 1718.75, 1723.00. Trading recommendations Short positions can be opened below the level of 1703.13 with the target at around 1700.00-1698.00 and stop-loss at 1704.80. Long positions can be opened above the level of 1711.00 with the target at around 1715.00-1716.00 and stop-loss at 1709.70. Link to comment Share on other sites More sharing options...
Andy.atx Posted May 27, 2020 Report Share Posted May 27, 2020 NZD/USD: TECHNICAL ANALYSIS 27.05.20 Current trend NZD/USD is in the stage of a downward correction after growing to the level of 0.62274. At the moment the price has met the support at the level of 0.61788. If the sellers manage to decline the rate below the level of this level, the correction can continue to the area of 0.61646 support. The breakdown of this level will confirm the downward correction development and give a prospect of decline to the area of 0.61300, which coincided with the middle line of Bollinger Bands. Alternative scenario The upward rebound from 0.61788 and pullback above 0.62000 will be a sign of the upward trend resumption and let the price re-test the yesterday high surrounding 0.62274. This level seems a strong resistance, which can activate a downward reverse of the price. However, the breakout of 0.62300 could trigger a pair’s fresh run-up to a fortnight high surrounding 0.62600 resistance. Technical indicators The technical picture is mixed. Bollinger Bands are diverging on the background of bearish momentum. MACD is growing in a positive zone, keeping a buy signal. Stochastic has left the overbought area and is pointed downwards, reflecting the high possibility of the downward movement formation. Support and resistance Support levels: 0.61646, 0.61300, 0.61035. Resistance levels: 0.62274, 0.62600, 0.62866. Trading recommendations Short positions can be opened below the level of 0.61646 with the target at around 0.61300 and stop-loss at 0.61740. Long positions can be opened above the level of 0.62000 with the target at around 0.62300 and stop-loss at 0.61900. Link to comment Share on other sites More sharing options...
Andy.atx Posted May 28, 2020 Report Share Posted May 28, 2020 USD/CHF: TECHNICAL ANALYSIS 28.05.20 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 0.96879. If the "bulls" manage to raise the rate above the level of 0.96900, the growth can continue to the area of 0.97046 mark. This level seems a strong resistance, which can activate a downward reverse of the price. However, the breakout of 0.97089 and the pair’s sustained trading above it will give a prospect of the growth to the area of 0.97275 resistance. Alternative scenario The downward rebound from 0.96879 and pullback below 0.96741 will be a sign of the downward trend resumption and let the price decline to the 0.96588 support-line. Should prices continue slipping under 0.96588, the level of 0.96436 might try activating an upward reverse as the key support level. Technical indicators Technical indicators maintain a sell signal. Bollinger Bands are pointed downwards. MACD is growing in the negative zone. Stochastic’s lines are pointed downwards and are reaching the oversold area. Support and resistance Support levels: 0.96741, 0.96588, 0.96436. Resistance levels: 0.96893, 0.97046, 0.97275, 0.97351. Trading recommendations Short positions can be opened below the level of 0.96741 with the target at around 0.96500 and stop-loss at 0.96821. Long positions can be opened above the level of 0.96900 with the target at around 0.97200 and stop-loss at 0.96800. Link to comment Share on other sites More sharing options...
Andy.atx Posted May 28, 2020 Report Share Posted May 28, 2020 USD/CAD: TECHNICAL ANALYSIS 28.05.20 Current trend USD/CAD price has tested the support level of 1.37331 and was slightly corrected upwards, but the general downward trend maintains. In order to continue the downward dynamic, USD/CAD should consolidate below the 1.37300 support. In this case, the sellers will aim for the 1.37000 support-line. This level seems a key target for the sellers in the short-term period. There is a high chance of an upward reversal of the price. However, its breakdown can diver market to 1.36719 and the 1.36400 support zone. Alternative scenario If the "bulls" manage to raise the rate above the level of 1.37939, the correction can continue to the area of 1.38420 resistance. The upward trend will be restored after the price is set above the level of 1.38550, which is the middle line of Bollinger Bands. In this case, the next targets of buyers will be the level of 1.38922. Technical indicators Technical indicators maintain a sell signal. Bollinger Bands are pointed downwards. MACD histogram is in the negative zone keeping a sell signal. Stochastic is pointed downwards. Support and resistance Support levels: 1.37329, 1.37000, 1,36719, 1.36400. Resistance levels: 1.37939, 1.38550, 1.38922. Trading recommendations Short positions can be opened below the level of 1.37300 with the target at around 1.37000 and stop-loss at 1.37400. Long positions can be opened above the level of 1.37939 with the target at around 1.38300 and stop-loss at 1.37818. Link to comment Share on other sites More sharing options...
Andy.atx Posted May 28, 2020 Report Share Posted May 28, 2020 EUR/USD: TECHNICAL ANALYSIS 28.05.20 Current trend EUR/USD is in the stage of a downward correction after growing to the level of 1.10346, but the upward trend is still maintained. The breakout of 1.10346 will let the price grow to 1.10474 level. This mark seems a strong resistance, which can activate a downward reverse of the price. Meanwhile, the breakout of 1.10500 can trigger a pair’s active growth to the area of 1.10800-1.10953. Alternative scenario The pullback below 1.10000 will be a sign of the downward correction development and let the price decline to the area of 1.09863. This level will be the first strong support for the pair. The breakdown of this level is needed to confirm the downward correction. In this case, the next target of the sellers will be 1.09558 support. Technical indicators Technical indicators maintain a buy signal. Bollinger Bands are pointed upwards. MACD is growing in a positive zone. Stochastic is pointed upwards. Support and resistance Support levels: 1.09863, 1.09558, 1.09253. Resistance levels: 1.10168, 1.10474, 1.10800. Trading recommendations Short positions can be opened below the level of 1.09863 with the target at around 1.09558 and stop-loss at 1.09964. Long positions can be opened above the level of 1.10168 with the target at around 1.10474 and stop-loss at 1.10068. Link to comment Share on other sites More sharing options...
Andy.atx Posted May 29, 2020 Report Share Posted May 29, 2020 AUD/USD: TECHNICAL ANALYSIS 29.05.20 Current trend AUD/USD is trading above its middle line of Bollinger bands suggesting bullish momentum. At the moment the price has met the resistance at the level of 0.66528. The breakout of this level will let the price re-test the 0.66665-0.66797 resistance area, which can prevent the instrument from growing. However, the decisive breakout of the upper border will accelerate the pair towards 0.67000-0.67139 resistance. Alternative scenario The downward rebound from 0.66528 and pullback below 0.66400 will let the price decline to 0.66207-0.66113 support-zone, which coincided with the middle line of Bollinger Bands. There is a chance of an upward rebound. However, the breakdown of the 0.66100 level will give a prospect of decline to 0.65918 level. The decisive break of this mark is needed to indicate the downtrend resumption. In this case, the sellers will aim for the 0.65600 level. Technical indicators Technical indicators mostly keep a buy signal, but the downward correction is possible in the short term. Bollinger Bands are converging on the background of bullish momentum. MACD is growing in a positive zone. Stochastic’s lines are pointed downwards, forming a sell signal. Support and resistance Support levels: 0.66200, 0.65918, 0.65600. Resistance levels: 0.66528, 0.66797, 0.67139. Trading recommendations Short positions can be opened below the level of 0.66207 with the target at around 0.65918 and stop-loss at 0.66303. Long positions can be opened above the level of 0.66528 with the target at around 0.66797 and stop-loss at 0.66438. Link to comment Share on other sites More sharing options...
Andy.atx Posted May 29, 2020 Report Share Posted May 29, 2020 USD/JPY: TECHNICAL ANALYSIS 29.05.20 Current trend On the 4-hour chart, the instrument keeps a negative dynamic. If the current trend maintains, the next target of the sellers will be 107.227 support. Assuming the pair’s ability to cross it, the mark of 107.031 can be targeted if holding short positions. This level seems a strong support, which can activate an upward reverse of the price. Meanwhile, the breakdown of 107.000 and a sustained move below it can accelerate the plunge towards 106.836. Alternative scenario If the price cannot consolidate below the level of 107.227, the price can reverse and retest the resistance level of 107.324. The breakout of this level will be a sign of the upward correction development and let the price grow to 107.422-107.507. 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: 107.227, 107.031, 106.836. Resistance levels: 107.422, 107.617, 107.813. Trading recommendations Short positions can be opened below the level of 107.227 with the target at around 107.031-106.950 and stop-loss at 107.319. Long positions can be opened above the level of 107.324 with the target at around 107.600 and stop-loss at 107.232. Link to comment Share on other sites More sharing options...
Andy.atx Posted May 29, 2020 Report Share Posted May 29, 2020 GBP/USD: TECHNICAL ANALYSIS 29.05.20 Current trend The GBP/USD pair begins today’s trading with a slight bullish bias. The price went up above the level of 1.23291 resistance and can grow to the yesterday's high surrounding 1.23438. The breakout of this level will give a prospect of growth to the 1.23623 resistance. This level seems a strong resistance, which can activate a downward rebound of the price. However, its decisive breakout could trigger a pair’s fresh run-up to a fortnight high surrounding 1.23901. Alternative scenario The pullback of the price below 1.23141 will be a sign of the downward correction development and let the price decline to 1.22890 support. This level is coincided with the middle line of Bollinger Bands and can activate an upward rebound. One may speak about downward movement continuation after the price consolidates below the support level of 1.22681. In this case, the sellers will aim for the 1.22331. Technical indicators Technical indicators mostly keep a buy signal, but the downward correction is possible in the short term. Bollinger Bands are converging on the background of bullish momentum. MACD is growing in a positive zone. Stochastic is in the overbought area and is pointed sideways, reflecting the possibility of the downward movement formation. Support and resistance Support levels: 1.23141, 1.23075, 1.22890, 1.22681. Resistance levels: 1.23438, 1.23623, 1.23901. Trading recommendations Short positions can be opened below the level of 1.23075 with the target at around 1.22800 and stop-loss at 1.23166. Long positions can be opened above the level of 1.23438 with the target at around 1.23700 and stop-loss at 1.23350. Link to comment Share on other sites More sharing options...
broforex51 Posted June 1, 2020 Report Share Posted June 1, 2020 CAD JPY today as we see here, the price is breaking the resistance area, this is your chance to make open buy position, you can buy it now at 78.387 with potential target up to 50 pips above Link to comment Share on other sites More sharing options...
Andy.atx Posted June 1, 2020 Report Share Posted June 1, 2020 EUR/JPY: TECHNICAL ANALYSIS 01.06.20 Current trend On a 4-hour chart, the price has tested the resistance level of 119.963 and was slightly corrected downwards, but the upward trend maintains. If the "bulls" manage to raise the rate above the level of 120.000, the growth can continue to the area of strong resistance 120.313. This level can prevent the instrument from growing, as the possibility of the reverse of the price is high there. Meanwhile, the breakout of 120.313 and the pair’s sustained trading above it will be a sign of the upward trend resumption and let the price grow to the area of 120.600. Alternative scenario The downward rebound from 119.963 and pullback below 119.700 will let the price decline to the area of 119.531 support. The decisive breakdown of 119.531 is needed to indicate the downward correction resumption. In this case, the sellers will aim for the 119.161 level. Should prices continue slipping below it, the mark of 118.900 might try activating an upward rebound as the key correction target. 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 has left the overbought area and is pointed downwards, reflecting the high possibility of the downward movement formation. Support and resistance Support levels: 119.531, 119.161, 118.900. Resistance levels: 119.963, 120.313, 120.600. Trading recommendations Short positions can be opened below the level of 119.531 with the target at around 119.200 and stop-loss at 119.630. Long positions can be opened above the level of 120.000 with the target at around 120.313 and stop-loss at 119.900. Link to comment Share on other sites More sharing options...
Andy.atx Posted June 1, 2020 Report Share Posted June 1, 2020 XAU/USD: TECHNICAL ANALYSIS 01.06.20 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 1743.11. Assuming the pair’s ability to cross this mark, the level of 1750.00 can be targeted if holding long positions. This level seems a strong resistance, which can activate a downward reversal of the price. Meanwhile, the decisive breakout of 1750.00 and pair sustained move above 1753.00 will give a prospect of growth to the area of 1757.81-1760.00. Alternative scenario The downward rebound from 1743.11 and pullback below 1740.00 will be a sign of the downward correction and let the price decline to the area of 1734.38. This level will be the first strong support for the pair. The breakdown of 1734.00 and the pair’s sustained trading below it will confirm the downward dynamic and give a prospect of decline to the area of 1726.56 support. 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: 1740.00, 1734.38, 1730.00, 1726.56. Resistance levels: 1743.11, 1750.00, 1753.00, 1757.00. Trading recommendations Short positions can be opened below the level of 1740.00 with the target at around 1734.38 and stop-loss at 1742.00. Long positions can be opened above the level of 1743.11 with the target at around 1750.00 and stop-loss at 1741.20. Link to comment Share on other sites More sharing options...
Andy.atx Posted June 1, 2020 Report Share Posted June 1, 2020 NZD/USD: TECHNICAL ANALYSIS 01.06.20 Current trend On the 4-hour chart, the instrument keeps a positive dynamic. The price went up above the 0.62300 resistance and has the potential to further grow to the 0.62600 level. Should prices continue growing above this level, the mark of 0.62866 will be the next key target of the buyers. Alternative scenario The downward rebound from 0.62600 and pullback below 0.62256 support will be a sign of the downward correction development and let the price decline to the area of 0.61980 level, which coincided with the middle line of Bollinger Bands. This level can activate an upward reverse of the price. One may speak about downward movement continuation after the price consolidates below the support level of 0.61848. In this case, the sellers will aim for the 0.61646-0.61482 support. 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: 0.62256, 0.61980, 0.61646, 0.61482. Resistance levels: 0.62600, 0.62866, 0.63000. Trading recommendations Short positions can be opened below the level of 0.62256 with the target at around 0.61980 and stop-loss at 0.62163. Long positions can be opened above the level of 0.62600 with the target at around 0.62900 and stop-loss at 0.62700. Link to comment Share on other sites More sharing options...
Andy.atx Posted June 2, 2020 Report Share Posted June 2, 2020 USD/CHF: TECHNICAL ANALYSIS 02.06.20 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 0.96165. The breakout and pair’s sustained trading above this level will give a prospect of growth to the area of 0.96300 level, which coincided with the middle line of Bollinger Bands. One may speak about upward movement continuation after the price consolidates above the resistance level of 0.96436. In this case, the buyers will aim for the 0.96741 resistance. Alternative scenario If USD/CHF cannot consolidate above the level of 0.96165, the downward trend restoration and retest of the level 0.96001 are possible. The breakdown of this level will let the price decline to the area of 0.95825-0.95782 support zone. This area can prevent the instrument from falling, as the possibility of the reverse of the price is high there. However, the decisive breakdown of 0.95782 can accelerate the plunge towards 0.95520. Technical indicators Technical indicators maintain a sell signal. Bollinger Bands are pointed downwards. MACD volumes are decreasing in the negative zone. Stochastic’s lines are pointed downwards and are reaching the oversold area. Support and resistance Support levels: 0.96000, 0.95825, 0.95520. Resistance levels: 0.96165, 0.96436, 0.96741. Trading recommendations Short positions can be opened below the level of 0.96000 with the target at around 0.95700 and stop-loss at 0.96100. Long positions can be opened above the level of 0.96436 with the target at around 0.96741 and stop-loss at 0.96334. Link to comment Share on other sites More sharing options...
Andy.atx Posted June 2, 2020 Report Share Posted June 2, 2020 USD/CAD: TECHNICAL ANALYSIS 02.06.20 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 1.35442. Assuming the pair’s ability to cross this level, the mark of 1.35100-1.35000 can be targeted if holding short positions. This area can activate an upward reverse of the price. Meanwhile, the breakdown of the 1.35000 can trigger the pair’s active plunge to 1.34500 support. Alternative scenario The upward rebound from 1.35442 and pullback above 1.35843 will be a sign of the upward correction development and let the price grow to the area of 1.36108. Further close above this level may push USD/CAD even higher towards the of 1.36400 resistance. Technical indicators Technical indicators maintain a sell signal. Bollinger Bands are diverging on the background of bearish momentum. MACD is growing in the negative zone. Stochastic’s lines are pointed downwards and are reaching the oversold area. Support and resistance Support levels: 1.35442, 1.35100, 1.34800, 1.34500. Resistance levels: 1.35843, 1.36108, 1.36400. Trading recommendations Short positions can be opened below the level of 1.35442 with the target at around 1.35100 and stop-loss at 1.35556. Long positions can be opened above the level of 1.35843 with the target at around 1.36100 and stop-loss at 1.35750. Link to comment Share on other sites More sharing options...
Andy.atx Posted June 2, 2020 Report Share Posted June 2, 2020 EUR/USD: TECHNICAL ANALYSIS 02.06.20 Current trend The EUR/USD pair begins today’s trading with a slight bearish bias. The first strong support for the pair is located on a 1.11084 level. The breakdown of this level of a sustained move below it will give a prospect of decline to the area of 1.10779 support. This level almost coincides with the middle line of Bollinger bands. There is a chance of an upward rebound. Meanwhile, the breakdown of this level will be a signal for the downward trend resumption and let the price decline to the area of 1.10474. Alternative scenario If the "bulls" manage to raise the rate above the level of 1.11381 resistance, the growth can continue to the area of 1.11531-1.11694. This area can prevent the instrument from growing, as the possibility of the reverse of the price is high there. However, the decisive breakout of 1.11700 will give a prospect of the growth to the area of 1.12000. Technical indicators Technical indicators mostly keep a buy signal, but the downward correction is possible in the short term. Bollinger Bands are converging on the background of bullish momentum. MACD volumes are decreasing in the positive zone. Stochastic is pointed upwards, reflecting the possibility of upward movement formation. Support and resistance Support levels: 1.11084, 1.10779, 1.10474. Resistance levels: 1.11389, 1.11694, 1.12000. Trading recommendations Short positions can be opened below the level of 1.11084 with the target at around 1.10779 and stop-loss at 1.11180. Long positions can be opened above the level of 1.11389 with the target at around 1.11531-1.11694 and stop-loss at 1.11287. Link to comment Share on other sites More sharing options...
Andy.atx Posted June 3, 2020 Report Share Posted June 3, 2020 GBP/USD: TECHNICAL ANALYSIS 03.06.20 Current trend GBP/USD is in the stage of a downward correction after growing to the level of 1.26109, but the general upward trend is still maintained. The breakout of 1.26110 will be a sign of the upward trend resumption and let the price grow to the area of 1.26343 resistance. This level seems a strong hurdle, which can activate a downward reversal of the price. However, the breakout of 1.26343 and the pair’s sustained trading above this level will give a prospect of growth to the area of 1.26600-1.26953 resistance. Alternative scenario The pullback below 1.25732 will be a sign of the downward correction development and let the price decline to the area of 1.25427. The decisive breakdown of this level is needed to confirm the downward correction development. In this case, the next targets of sellers will be the level of 1.25122-1.25000. Technical indicators Technical indicators maintain a buy signal. Bollinger Bands are pointed upwards. MACD is growing in a positive zone. Stochastic is pointed upwards, reflecting the high possibility of upward movement formation. Support and resistance Support levels: 1.25732, 1.25427, 1.25122, 1.24800. Resistance levels: 1.26109, 1.26343, 1.26600, 1.26953. Trading recommendations Short positions can be opened below the level of 1.25735 with the target at around 1.25427 and stop-loss at 1.25834. Long positions can be opened above the level of 1.26343 with the target at around 1.26650 and stop-loss at 1.26243. Link to comment Share on other sites More sharing options...
Andy.atx Posted June 3, 2020 Report Share Posted June 3, 2020 USD/JPY: TECHNICAL ANALYSIS 03.06.20 Current trend USD/JPY quotes attempted to continue the upward dynamic, but reaching 108.844 mark moved to a downward correction. At the moment the price has met the support at the level of 108.419. The breakdown of this level will give a prospect of decline to the area of 108.203-108.008 support area. Judging by the downward reversal of the Stochastic this case scenario is possible soon. Alternative scenario The upward rebound from 108.419 and pullback above 108.594 will let the price grow to the area of 108.789 resistance. This level can prevent the instrument from growing, as the possibility of the reverse of the price is high there. Meanwhile, the decisive breakout of 108.800 will be a signal of the upward trend resumption and let the price grow to the area of 108.984-109.100. 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: 108.398, 108.203, 108.008. Resistance levels: 108.594, 108.789, 108.984, 109.100. Trading recommendations Short positions can be opened below the level of 108.398 with the target at around 108.203-108.100 and stop-loss at 108.500. Long positions can be opened above the level of 108.594 with the target at around 108.900 and stop-loss at 108.500. Link to comment Share on other sites More sharing options...
Andy.atx Posted June 3, 2020 Report Share Posted June 3, 2020 AUD/USD: TECHNICAL ANALYSIS 03.06.20 Current trend AUD/USD pair is in the stage of a downward correction after growing to the level of 0.69829. The price went down below the level of 0.69400 and can fall further to the level of 0.68970. This mark will be the first strong support, which can activate an upward rebound. However, the breakdown of this level will be a signal of the downward correction development and accelerate the plunge towards 0.68600-0.68359 support. Alternative scenario The pullback above 0.69580 will let the price re-test today's high 0.69829. 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 0.70190 resistance. 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 ready to leave the overbought area and is pointed downwards, reflecting the high possibility of the downward movement formation. Support and resistance Support levels: 0.68970, 0.68600, 0.68359, Resistance levels: 0.69580, 0.69829, 0.70190. Trading recommendations Short positions can be opened below the level of 0.68970 with the target at around 0.68600 and stop-loss at 0.69093. Long positions can be opened above the level of 0.69580 with the target at around 0.69880 and stop-loss at 0.69480. Link to comment Share on other sites More sharing options...
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