Andy.atx Posted June 15, 2020 Share Posted June 15, 2020 GBP/USD: TECHNICAL ANALYSIS 15.06.20 Current trend GBP/USD is in the stage of upward correction after falling to the level of 1.24279, but the general downward trend is still maintained. At the moment the price has met the resistance at level 1.25244. The breakout of this level will confirm the upward correction development and let the price grow to the area of 1.25490-1.25732. This area seems a strong resistance zone, which can activate a downward reversal of the price. Meanwhile, the further close of the price above 1.25732 will let the price grow to 1.26000-1.26343 area. The upper border of this channel (Bollinger Bands) will be a key level of the upward correction. Alternative scenario The pullback below 1.24851 will let the price re-test the last week's low at 1.24729. The key level for the sellers is located on 1.24512 support-line. The decisive breakdown of this mark is needed to indicate the downward trend resumption. In this case, the sellers will aim for the 1.24200-1.24000. 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 has left the oversold area and is pointed upwards, reflecting the high possibility of upward movement formation. Support and resistance Support levels: 1.24729, 1.24512, 1.24200, 1.24000. Resistance levels: 1.25244, 1.25490, 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 1.24612. Long positions can be opened above the level of 1.25245 with the target at around 1.25550 and stop-loss at 1.25145. Link to comment Share on other sites More sharing options...
Andy.atx Posted June 15, 2020 Share Posted June 15, 2020 AUD/USD: TECHNICAL ANALYSIS 15.06.20 Current trend On the 4-hour chart, the instrument keeps a negative dynamic. The price went down below 0.68359 and has the potential to further decline to the area of 0.68000-0.67749 support area. The lower borders of this price seem strong support, which can activate an upward reverse of the price. Meanwhile, the decisive breakdown of 0.67749 can trigger a pair's active decline to the area of 0.67400-0.67100. Alternative scenario The pullback and pair’s sustained trading above 0.68443 will be a sign of the upward correction development and let the price grow to the area of 0.68722. The key level of the correction is located on 0.68970 mark, which coincided with the middle line of Bollinger Bands. There is a high chance of a downward rebound, while its breakout would allow the growth to continue to the area of 0.69268. Technical indicators Technical indicators maintain a sell signal. Bollinger Bands are diverging on the background of bearish momentum. MACD is growing in the negative zone. Stochastic’s lines are pointed downwards and are reaching the oversold area. Support and resistance Support levels: 0.67749, 0.67400, 0.67100. Resistance levels: 0.68359, 0.68722, 0.68970, 0.69268. Trading recommendations Short positions can be opened below the level of 0.68000 with the target at around 0.67700 and stop-loss at 0.68100. Long positions can be opened above the level of 0.68359 with the target at around 0.68722 and stop-loss at 0.68238. Link to comment Share on other sites More sharing options...
Andy.atx Posted June 16, 2020 Share Posted June 16, 2020 EUR/JPY: TECHNICAL ANALYSIS 16.06.20 Current trend On the 4-hour chart, the instrument keeps a positive dynamic. At the moment the price has met the resistance at 122.106. Assuming the pair’s ability to cross this mark, the level of 122.300-122.656 can be targeted if holding long positions. This area can prevent the instrument from growing, as the possibility of the reverse of the price is high there. On the flip-side, the decisive breakout of 122.700 could trigger a pair’s fresh run-up to an eight-days high surrounding 123.000. Alternative scenario The pullback and pair’s sustained trading below 121.500 will be a signal of the downward correction development and let the price decline to the area of 121.200 level, which coincided with the middle line of Bollinger Bands. As the key target of the correction, this level can activate an upward reverse of the price. Meanwhile, the breakdown of 121.094 can accelerate the plunge towards 120.700 support. 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 histogram is ready to enter the positive zone and form a buy signal. Stochastic is in the overbought zone and is pointed sideways. Support and resistance Support levels: 121.500, 121.200, 120.900, 120.700. Resistance levels: 122.106, 122.400, 122.656, 123.000. Trading recommendations Short positions can be opened below the level of 121.500 with the target at around 121.200 and stop-loss at 121.600. Long positions can be opened above the level of 122.106 with the target at around 122.400 and stop-loss at 122.000. Link to comment Share on other sites More sharing options...
Andy.atx Posted June 16, 2020 Share Posted June 16, 2020 XAU/USD: TECHNICAL ANALYSIS 16.06.20 Current trend On the 4-hour chart, the instrument shows a positive dynamic. The price has tested the resistance level of 1732.80 and was slightly corrected downwards, but the upward potential maintains. One may speak about upward movement continuation after the price consolidates above the resistance level of 1734.38. In this case, the next targets of buyers will be the area of 1740.00-1743.03. Alternative scenario The downward rebound from 1732.80 and pullback below 1725.31 will be a sign of the downward trend resumption and let the price decline to the level of 1719.54-1718.75. This area can activate an upward rebound of the price. However, its breakdown will accelerate the plunge towards the 1715.00-1712.04 support area. Technical indicators The technical picture is mixed. Bollinger Bands are pointed downwards, keeping a weak sell signal. MACD is moderately growing in the positive zone. Stochastic is pointed upwards, reflecting the high possibility of upward movement formation. Support and resistance Support levels: 1725.31, 1719.54, 1715.00, 1712.04. Resistance levels: 1734.38, 1740.00, 1743.03. Trading recommendations Short positions can be opened below the level of 1725.00 with the target at around 1720.00 and stop-loss at 1727.60. Long positions can be opened above the level of 1734.38 with the target at around 1740.00 and stop-loss at 1732.50. Link to comment Share on other sites More sharing options...
Andy.atx Posted June 16, 2020 Share Posted June 16, 2020 Current trend NZD/USD quotes attempted to grow, but reaching 0.65060 mark moved to a downward correction. If the "bulls" manage to raise the rate above the level of 0.65100, the growth can continue to the area of 0.65308 resistance. This level seems a first resistance area, which can activate a downward rebound. Meanwhile, the breakout of 0.65308 and the pair’s sustained trading above is needed to indicate uptrend resumption. In this case, the sellers will aim for the 0.65600-0.65918 resistance area. Alternative scenario If the price cannot consolidate above the level of 0.65060 during the short term period, the price can reverse and retest the support area 0.64697-0.64602. The lower border of this channel is coincided with the middle line of the Bollinger Bands and can activate an upward reverse of the price. The breakdown of this level will be a signal of the downward trend resumption and give a prospect of decline to the area of 0.64300-0.64087. Technical indicators The technical picture is mixed. Bollinger Bands are converging on the background of bullish momentum. MACD is decreasing in the negative 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: 0.64697, 0.64300, 0.64087. Resistance levels: 0.65308, 0.65600, 0.65918. Trading recommendations Short positions can be opened below the level of 0.64600 with the target at around 0.64300 and stop-loss at 0.64700. Long positions can be opened above the level of 0.65060 with the target at around 0.65360 and stop-loss at 0.64960. Link to comment Share on other sites More sharing options...
Andy.atx Posted June 17, 2020 Share Posted June 17, 2020 USD/CAD: TECHNICAL ANALYSIS 17.06.20 Current trend The USD/CAD pair today keeps a sideway dynamic in the range of 1.35315-1.35710 due to low trading activity. As the pair is trading below the middle line of Bollinger Bands, the downward movement potential is maintained. If the sellers manage to decline the rate below 1.35315 level, the decline can continue to the area of 1.35000 level. The area of 1.35000-1.34888 can prevent the instrument from falling, as the possibility of the reverse of the price is high there. Meanwhile, the decisive breakdown of 1.34800 will be a signal of the downtrend resumption and let the price decline to the area of 1.34500 support. Alternative scenario The upward rebound from 1.35315 and pullback above 1.35500 will let the price re-test the 1.35710 resistance. The key level for the pair is located on 1.35800-1.35900 area, which coincided with the middle line of Bollinger Bands. There is a chance of a downward rebound. Meanwhile, its breakout would allow the growth to continue to the area of 1.36108-1.36218. Technical indicators Technical indicators maintain a sell signal. Bollinger Bands are pointed downwards. MACD volumes are decreasing in the positive zone. Stochastic's lines are pointed downwards. Support and resistance Support levels: 1.35315, 1.35000, 1.34800, 1.34500. Resistance levels: 1.35710, 1.35900, 1.36218. Trading recommendations Short positions can be opened below the level of 1.35315 with the target at around 1.35000 and stop-loss at 1.35415. Long positions can be opened above the level of 1.35900 with the target at around 1.36218 and stop-loss at 1.35820. Link to comment Share on other sites More sharing options...
Andy.atx Posted June 17, 2020 Share Posted June 17, 2020 EUR/USD: TECHNICAL ANALYSIS 17.06.20 Current trend EUR/USD is in the stage of upward correction after falling to the level of 1.12272, but the downward movement potential is still maintained. The key target of the upward correction is located on the 1.12915 level, which coincided with the middle line of Bollinger Bands. This mark can activate a downward reverse of the price. However, the breakout of 1.12915 and the pair’s sustained trading above 1.13000 will be a signal of the upward trend resumption. In this case, the buyers will aim for the 1.13300-1.13500 resistance area. Alternative scenario If EUR/USD cannot consolidate above the level of 1.12915 during the short term period, the downward movement restoration and retest of the level 1.12305 are possible. This mark seems a key level for the sellers. The breakdown of 1.12305 can trigger a pair's active decline to 1.12000-1.11694 support area. 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 bullish momentum. MACD is growing in the negative zone. Stochastic is pointed sideways. Support and resistance Support levels: 1.12305, 1.12000, 1.11700, 1.11400. Resistance levels: 1.12915, 1.13200, 1.13525, 1.13800. Trading recommendations Short positions can be opened below the level of 1.12305 with the target at around 1.12000 and stop-loss at 1.12405. Long positions can be opened above the level of 1.13000 with the target at around 1.13300 and stop-loss at 1.12900. Link to comment Share on other sites More sharing options...
Andy.atx Posted June 17, 2020 Share Posted June 17, 2020 USD/CHF: TECHNICAL ANALYSIS 17.06.20 Current trend USD/CHF is in the stage of a downward correction after growing to the level of 0.95195. The key target of the correction is located on 0.94910 level, which coincided with the middle line of Bollinger Bands. There is a chance of an upward rebound of the price. However, the decisive breakdown of 0.94910 will be a signal of the downward trend resumption and let the price decline to the area of 0.94604 support. Alternative scenario The upward rebound from 0.94910 and pullback above 0.95000 will let the price re-test today's high 0.95195. One may speak about upward movement continuation after the price consolidates above the resistance level of 0.95215. In this case, the next targets of buyers will be the level of 0.95520. Technical indicators The technical picture is mixed. Bollinger Bands are converging on the background of bearish momentum. MACD is slowly growing in the positive zone, keeping a weak buy signal. Stochastic’s lines are pointed downwards. Support and resistance Support levels: 0.94910, 0.94604, 0.94300, 0.94000. Resistance levels: 0.95215, 0.95520, 0.95825. Trading recommendations Short positions can be opened below the level of 0.94910 with the target at around 0.94604 and stop-loss at 0.95010. Long positions can be opened above the level of 0.95212 with the target at around 0.95520 and stop-loss at 0.95110. Link to comment Share on other sites More sharing options...
Andy.atx Posted June 18, 2020 Share Posted June 18, 2020 AUD/USD: TECHNICAL ANALYSIS 18.06.20 Current trend AUD/USD quotes attempted to decline, but reaching 0.68362 mark moved to an upward correction. The main target of the correction is located on 0.68864-0.68970 area, which coincided with the middle line of the Bollinger Bands. This area can prevent the instrument from growing, as the possibility of the reverse of the price is high there. Meanwhile, the decisive breakout of 0.68970 is needed to indicate the upward trend resumption. In this case, the buyers will aim for the 0.69275 mark. Alternative scenario The downward rebound from 0.68970 and pullback below 0.68665 will let the price re-test today's low 0.68362. The breakdown of this level will be a signal of the downward trend resumption and give a prospect of decline to the area of 0.68054-0.67749. 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. Support and resistance Support levels: 0.68665, 0.68359, 0.68054. Resistance levels: 0.68970, 0.69275, 0.69580. Trading recommendations Short positions can be opened below the level of 0.68665 with the target at around 0.68359 and stop-loss at 0.68767. Long positions can be opened above the level of 0.68970 with the target at around 0.69275 and stop-loss at 0.68868. Link to comment Share on other sites More sharing options...
Andy.atx Posted June 18, 2020 Share Posted June 18, 2020 USD/JPY: TECHNICAL ANALYSIS 18.06.20 Current trend On the 4-hour chart, the instrument keeps a negative dynamic. The price went down below the level of 107.031 and can decline further to the level of 106.641. As a strong support-line this level can activate an upward reverse of the price. However, its breakdown and pair's sustained trading below 106.565 will be a signal of the downward trend resumption and give a prospect of decline to the area of 106.250 support. Alternative scenario If the "bulls" manage to raise the rate above the level of 107.031, the correction can continue to the area of 107.281 level, which coincided with the middle line of Bollinger Bands. As the key target of the correction, this mark can prevent the instrument from growing. One may speak about upward movement continuation after the price consolidates above the resistance level of 107.422. In this case, the buyers will aim for the 107.813 resistance-line. 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: 106.641, 106.250, 105.981. Resistance levels: 107.031, 107.422, 107.813. Trading recommendations Short positions can be opened below the level of 106.565 with the target at around 106.250 and stop-loss at 106.670. Long positions can be opened above the level of 107.422 with the target at around 107.813 and stop-loss at 107.291. Link to comment Share on other sites More sharing options...
Andy.atx Posted June 18, 2020 Share Posted June 18, 2020 GBP/USD: TECHNICAL ANALYSIS 18.06.20 Current trend On the 4-hour chart, the instrument is trading below the middle line of Bollinger bands suggesting bearish momentum. The first strong support for the pair is located on 1.25122 level. The breakdown of this level will let the price resume the bearish price action and decline to the area of 1.24850-1.24512. The lower border of this channel seems a key target for the sellers and can activate an upward reverse of the price. Meanwhile, the decisive breakdown of 1.24500 and the pair’s sustained trading below it will accelerate the bearish moods and give a prospect of decline to 1.24200 support. Alternative scenario The upward rebound from 1.25122 will let the price re-test today's high at 1.25661. The upward trend will be restored after the price is set above the level of 1.25732, which is the middle line of Bollinger Bands. In this case, the next targets of buyers will be the area of 1.26030-1.26343 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 is pointed upwards, reflecting the high possibility of upward movement formation. Support and resistance Support levels: 1.25122, 1.24850, 1.24512. Resistance levels: 1.25732, 1.26000, 1.26343. Trading recommendations Short positions can be opened below the level of 1.25122 with the target at around 1.24850 and stop-loss at 1.25212. Long positions can be opened above the level of 1.25732 with the target at around 1.26030 and stop-loss at 1.25630. Link to comment Share on other sites More sharing options...
Andy.atx Posted June 19, 2020 Share Posted June 19, 2020 EUR/JPY: TECHNICAL ANALYSIS 19.06.20 Current trend On 4-hour chart, the instrument keeps the potential of the downward movement. At the moment the price has met the support at 119.579 level. The breakdown of this mark and pair’s sustained trading below 119.500 will be a signal of the downward trend resumption and give a prospect of decline to the area of 119.200-119.000 support zone. Alternative scenario If the "bulls" manage to raise the rate above the level of 120.020, the correction can continue to the area of 120.313-120.515 zone. As the key target of the correction, this area can activate a downward reverse of the price. Meanwhile, the breakout of 120.515 and consolidation of the price above 120.600 will be a signal of the upward trend resumption and let the price grow to the area of 121.000. 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 has left the oversold area and is pointed upwards, reflecting the high possibility of upward movement formation. Support and resistance Support levels: 119.531, 119.200, 119.000, 118.750. Resistance levels: 120.020, 120.313, 120.600, 121.000. Trading recommendations Short positions can be opened below the level of 119.531 with the target at around 119.200 and stop-loss at 119.641. Long positions can be opened above the level of 120.313 with the target at around 120.600 and stop-loss at 120.217. Link to comment Share on other sites More sharing options...
Andy.atx Posted June 19, 2020 Share Posted June 19, 2020 XAU/USD: TECHNICAL ANALYSIS 19.06.20 Current trend XAU/USD is in the stage of upward correction after falling to the level of 1717.30. The key target of the correction is located in 1726.30-1727.30 area, which coincided with the middle line of Bollinger Bands. There is a chance of a downward reverse of the price. Meanwhile, the decisive breakout of 1727.30 is needed to indicate the upward trend resumption. In this case, the buyers will aim for 1730.47-1734.38 resistance zone. Alternative scenario The downward rebound from 1727.22 and pullback below 1724.83 will be a sign of the downward movement resumption and let the price re-test 1721.15-1718.75 support zone. This area can prevent the instrument from falling, as the possibility of the upward reverse of the price is high there. One may speak about downward movement continuation after the price consolidates below the support level of 1717.30. In this case, the sellers will aim for the 1714.84-1712.47 support zone. Technical indicators Technical indicators maintain a buy signal. Bollinger Bands are diverging on the background of bullish momentum. MACD volumes are in the positive zone and are moving along the zero line. Stochastic is pointed upwards. Support and resistance Support levels: 1724.83, 1721.15, 1718.75. Resistance levels: 1727.30, 1730.47, 1734.38. Trading recommendations Short positions can be opened below the level of 1724.83 with the target at around 1721.15 and stop-loss at 1726.05. Long positions can be opened above the level of 1727.30 with the target at around 1730.47 and stop-loss at 1726.24. Link to comment Share on other sites More sharing options...
Andy.atx Posted June 19, 2020 Share Posted June 19, 2020 NZD/USD: TECHNICAL ANALYSIS 19.06.20 Current trend On a 4-hour chart, the price has tested the support level of 0.64058 and was slightly corrected upwards, but the downward trend maintains. Amid the correction, the price can re-test today's high at 0.64378. This level seems a first resistance, which can activate a downward rebound. The breakout of this level will confirm the upward correction potential and give a prospect of the growth to the resistance area 0.64560-0.64657. This area can prevent the instrument from growing, as the possibility of the reverse of the price is high there. Meanwhile, the breakout of the 0.64697 and pair’s sustained trading above it will be a signal of the upward trend resumption and let the price grow to the area of 0.65002. Alternative scenario One may speak about downward movement continuation after the price consolidates below the support level of 0.64058. In this case, the next target of sellers will be the level of 0.63782. 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 is preparing to exit the oversold zone and is directed upwards, signaling the development of an upward correction. Support and resistance Support levels: 0.64058, 0.63782, 0.63477. Resistance levels: 0.64392, 0.64697, 0.65002. Trading recommendations Short positions can be opened below the level of 0.64058 with the target at around 0.63782 and stop-loss at 0.64150. Long positions can be opened above the level of 0.64378 with the target at around 0.64657 and stop-loss at 0.64285. Link to comment Share on other sites More sharing options...
Andy.atx Posted June 22, 2020 Share Posted June 22, 2020 USD/CHF: TECHNICAL ANALYSIS 22.06.20 Current trend USD/CHF pair tested the local high at 0.95263 but cannot break through it. The first strong support-line for the pair is located on 0.95048 level, which coincided with the middle line of Bollinger Bands. There is a chance of an upward reverse of the price. Meanwhile, the decisive breakdown of 0.95000 and the pair’s sustained trading below 0.94910 will be a signal of the downward trend resumption and let the price decline to the area of 0.94604 support. Alternative scenario The upward rebound from 0.95048 and pullback above 0.95131 will the price re-test today's high at 0.95263. One may speak about upward movement continuation after the price consolidates above the support level of 0.95300. In this case, the next targets of buyers will be the level of 0.95520-0.95600. Technical indicators The technical picture is mixed. Bollinger Bands are pointed sideways. MACD is growing in a positive zone. Stochastic’s lines are pointed downwards. Support and resistance Support levels: 0.95048, 0.94910, 0.94604. Resistance levels: 0.95215, 0.95520, 0.95825. Trading recommendations Short positions can be opened below the level of 0.94900 with the target at around 0.94604 and stop-loss at 0.95000. Long positions can be opened above the level of 0.95215 with the target at around 0.95520 and stop-loss at 0.95115. Link to comment Share on other sites More sharing options...
Andy.atx Posted June 22, 2020 Share Posted June 22, 2020 USD/CAD: TECHNICAL ANALYSIS 22.06.20 Current trend USD/CAD quotes attempted to grow, but reaching 1.36291 marks moved to a downward correction. At the moment the price has met the support at 1.35800, which coincided with the middle line of Bollinger Bands. As a strong support-line, this mark can prevent the instrument from falling. However, the breakdown of 1.35800 and pair’s sustained trading below it will give a prospect of the plunge to the 1.35498 support-line. Alternative scenario If the instrument cannot consolidate below the level of 1.35800, it will begin to grow to the area of today's high at 1.36291. The breakout of this mark will be a signal of the upward trend resumption and let the price grow to the area of 1.36600-1.36719. Technical indicators Technical indicators mostly keep a sell signal, but the upward correction is possible in the short term. Bollinger Bands are pointed upwards. MACD is growing in a positive zone. Stochastic is pointed downwards. Support and resistance Support levels: 1.35800, 1.35498, 1.35200. Resistance levels: 1.36108, 1.36291, 1.36500, 1.36719. Trading recommendations Short positions can be opened below the level of 1.35800 with the target at around 1.35500 and stop-loss at 1.35900. Long positions can be opened above the level of 1.36291 with the target at around 1.36600 and stop-loss at 1.36200. Link to comment Share on other sites More sharing options...
Andy.atx Posted June 22, 2020 Share Posted June 22, 2020 EUR/USD: TECHNICAL ANALYSIS 22.06.20 Current trend EUR/USD is in the stage of upward correction after falling to the level of 1.11680. The first target of the correction is the level of 1.12190, which corresponds to the middle line of Bollinger Bands. As the key target of the correction, this mark can activate a downward reverse of the price. Meanwhile, its breakout will be a signal of the upward trend resumption and let the price grow to the area of 1.12305-1.12538. Alternative scenario The downward rebound from 1.12042 and pullback below 1.11891 will let the price decline to the area of 1.11680 support. The decisive breakdown of 1.11680 is needed to indicate the downward trend resumption. In this case, the sellers will aim for 1.11300. 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 has left the oversold area and is pointed upwards, reflecting the high possibility of upward movement formation. Support and resistance Support levels: 1.11891, 1.11680, 1.11300. Resistance levels: 1.12042, 1.12305, 1.12600. Trading recommendations Short positions can be opened below the level of 1.11680 with the target at around 1.11300 and stop-loss at 1.11815. Long positions can be opened above the level of 1.12305 with the target at around 1.12600 and stop-loss at 1.12205. Link to comment Share on other sites More sharing options...
Andy.atx Posted June 23, 2020 Share Posted June 23, 2020 GBP/USD: TECHNICAL ANALYSIS 23.06.20 Current trend GBP/USD quotes attempted to grow, but reaching 1.25060 marks moved to a downward correction. At the moment the price has met the support at 1.24352 level, which coincided with the middle line of Bollinger Bands. The breakdown of this mark and pair’s sustained trading below 1.24300 will be a signal of the downward trend resumption and let the price decline to the area of 1.23901 support-line. Alternative scenario The upward rebound from the middle line of Bollinger Bands and pullback above 1.24800 will let the price re-test the 1.25060 today's high. One may speak about upward movement continuation after the price consolidates above the resistance level of 1.25122. In this case, the buyers will aim for the 1.25400-1.25732 resistance area. Technical indicators The technical picture is mixed. Bollinger Bands are converging on the background of bullish momentum. MACD is decreasig in the negative zone. Stochastic is preparing to exit the overbought area and is pointed downwards, reflecting the high possibility of the downward movement formation. Support and resistance Support levels: 1.24512, 1.24352, 1.23901. Resistance levels: 1.25122, 1.25486, 1.25732. Trading recommendations Short positions can be opened below the level of 1.24352 with the target at around 1.24000 and stop-loss at 1.24469. Long positions can be opened above the level of 1.25122 with the target at around 1.25486 and stop-loss at 1.25000. Link to comment Share on other sites More sharing options...
Andy.atx Posted June 23, 2020 Share Posted June 23, 2020 USD/JPY: TECHNICAL ANALYSIS 23.06.20 Current trend On the 4-hour chart, the instrument keeps a positive dynamic. The price went up above the level of 107.100 and can grow further to the levels of 107.281-107.422. This area seems a strong resistance zone, which can activate a downward reverse of the price. Meanwhile, the breakout of the 107.422 can accelerate the growth to the area of 107.633-107.813. Alternative scenario The pullback below the 107.031 level will be a sign of the downward correction development and let the price decline to 106.847 level, which coincided with the middle line of Bollinger Bands. As the key target of the correction, this mark can activate an upward reverse of the price. However, the decisive breakdown of 107.031 and the pair's sustained trading below 106.641 are needed to indicate the downward trend resumption. In this case, the next targets of sellers will be the level of 106.250. 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: 107.031, 106.847, 106.641, 106.250. Resistance levels: 107.215, 107.422, 107.633, 107.813. Trading recommendations Short positions can be opened below the level of 106.847 with the target at around 106.540 and stop-loss at 106.940. Long positions can be opened above the level of 107.422 with the target at around 107.700 and stop-loss at 107.329. Link to comment Share on other sites More sharing options...
Andy.atx Posted June 23, 2020 Share Posted June 23, 2020 AUD/USD: TECHNICAL ANALYSIS 23.06.20 Current trend AUD/USD quotes attempted to grow, but reaching 0.69342 mark moved to a downward correction. Price has tested the midline of Bollinger Bands (0.68574) but cannot break through it. If the sellers manage to decline the rate below the level of 0.68970, the price can re-test the 0.68574 support-line. As the strong support, this level can activate an upward reverse of the price. However, its breakdown will be a signal of the downward trend resumption and give a prospect of decline to the area of 0.68359-0.68275. Alternative scenario The upward rebound from 0.68970 and the pair’s sustained trading above 0.69275 will be a signal of the upward trend resumption and let the price grow to 0.69580 resistance. This mark can prevent the instrument from growing, as the possibility of the reverse of the price is high there. Meanwhile, the breakout of 0.69580 and pair’s sustained trading above 0.69759 will be a signal of the upward trend resumption and let the price grow to 0.69885-0.70190 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 has left the overbought area and is pointed downwards, reflecting the high possibility of the downward movement formation. Support and resistance Support levels: 0.68970, 0.68665, 0.68359. Resistance levels: 0.69275, 0.69580, 0.69885. Trading recommendations Short positions can be opened below the level of 0.68970 with the target at around 0.68665 and stop-loss at 0.69071. Long positions can be opened above the level of 0.69275 with the target at around 0.69580 and stop-loss at 0.69173. Link to comment Share on other sites More sharing options...
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