Technical Analysis
21 September 2023
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06:24
The USD/CAD remains below MA 200 H1
Yesterday, the USD/CAD traded in different directions in the range of 1.3395-1.3475 and closed the day without significant changes. Today the pair has grown slightly, rising to 1.3500. On the hourly chart, USD/CAD is still trading below the moving average line MA (200) H1 (1.3520). The situation is similar on the four-hour chart. Based on the above, it is probably worth sticking to the southern direction in trading and while the pair remains below MA 200 H1, it may be necessary to look for entry points to sell at the end of the correction.
- Resistances levels are at: 1.3515, 1.3550, 1.3585
- Support levels are at: 1.3445, 1.3395, 1.3375
Probably, the main scenario is a resumption of decline to 1.3445 (session low).
The alternative scenario is consolidation above the MA 200 H1 line, followed by growth to 1.3675 (Sep 8 high).
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06:05
The AUD/USD is again trading below the 200 MA H1
Yesterday, the AUD/USD pair traded lower and closed the day in the red zone around the price of 0.6445. Today the pair also fell slightly, dropping to 0.6405. On the hourly chart, AUD/USD is again trading below the moving average line MA (200) H1 (0.6435). The situation is similar on the four-hour chart. Based on the above, it is probably worth sticking to the southern direction in trading and while the pair remains below MA 200 H1, it may be necessary to look for entry points to sell for the formation of a correction.
- Resistances levels are at: 0.6450, 0.6470, 0.6510
- Support levels are at: 0.6405, 0.6380, 0.6360
Probably, the main scenario is a continuation of the downward movement to 0.6405 (session low).
The alternative scenario is consolidation above MA 200 H1 with subsequent growth to 0.6510 (Sep 20 high).
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05:55
Gold remains above MA 200 H1
Yesterday, the XAU/USD traded mixed in the range of 1927-47 and closed the day without significant changes. Today, gold fell slightly, falling to 1923. On the hourly chart, XAU/USD is still trading above the moving average line MA (200) H1 (1922). The situation is similar on the four-hour chart. Based on the above, it is probably worth sticking to the north direction in trading and while gold remains above MA 200 H1, may be you need to look for entry points to buy at the end of the correction.
- Resistances levels are at: 1931, 1947, 1952
- Support levels are at: 1922-23, 1914-15, 1900-01
Probably, the main scenario is the resumption of the upward movement to $1931 (session high).
The alternative scenario is a breakout of the MA 200 H1 level followed by a decline to $1901 (Sep 14 low).
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05:55
Oil tests support for MA 200 H1
Yesterday, Brent oil traded lower and closed the day in the red zone around the price of 93.25. Today, oil also fell slightly, dropping to 93.30. On the hourly chart, Brent is testing the strength of support - the moving average line MA (200) H1 (92.80). On the four-hour chart, oil still remains above the MA 200 H4 line. Based on the above, it is probably worth sticking to the north direction in trading and while Brent remains above MA 200 H1, may be you need to look for entry points to buy at the end of the correction.
- Resistances levels are at: 94.80, 96.05-40, 97.70
- Support levels are at: 92.85, 91.85, 90.90
Probably, the main scenario is a resumption of growth to 94.80 (Sep 20 high).
The alternative scenario is consolidation below MA 200 H1 followed by a fall to 89.55 (Sep 8 low).
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05:01
The USD/JPY continued its growth yesterday
Yesterday, the USD/JPY traded higher and closed the day in positive territory around the price of 147.75. Today the pair also rose slightly, rising to 147.85. On the hourly chart, USD/JPY is still trading above the moving average line MA (200) H1 (147.35). The situation is similar on the four-hour chart. Based on the above, it is probably worth sticking to the north direction in trading and while the pair remains above the MA 200 H1, may be you need to look for entry points to buy when a correction is formed.
- Resistances levels are at: 147.95, 148.40, 148.85
- Support levels are at: 147.35-50, 147.00, 146.65
Probably, the main scenario is a resumption of growth to 147.95 (Sep 15 high).
The alternative scenario involves consolidation below MA 200 H1, followed by a fall to 145.90 (Sep 11 low).
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04:39
The USD/CHF continued its growth yesterday
Yesterday, the USD/CHF traded higher and closed the day in positive territory around the price of 0.8985. Today the pair also rose slightly, rising to 0.9005. On the hourly chart, USD/CHF is still trading above the moving average line MA (200) H1 (0.8945). The situation is similar on the four-hour chart. Based on the above, it is probably worth sticking to the northern direction in trading and while the pair remains above the MA 200 H1, may be you need to look for entry points to buy when a correction is formed.
- Resistances levels are at: 0.9005, 0.9025, 0.9055
- Support levels are at: 0.8985, 0.8970, 0.8925-30
Probably, the main scenario is continued growth to 0.9005 (session high).
The alternative scenario is a final consolidation below the MA 200 H1 level, followed by a fall to 0.8895 (Sep 8 low).
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04:14
The GBP/USD continued yesterday's decline
Yesterday, the GBP/USD pair traded lower and closed the day in the red zone around the price of 1.2345. Today the pair also fell slightly, dropping to 1.2305. On the hourly chart, GBP/USD is still trading below the moving average line MA (200) H1 (1.2435). The situation is similar on the four-hour chart. Based on the above, it is probably worth sticking to the southern direction in trading and while the pair remains below MA 200 H1, it may be necessary to look for entry points to sell for the formation of a correction.
- Resistances levels are at: 1.2345, 1.2420-25, 1.2445
- Support levels are at: 1.2305, 1.2275, 1.2240
Probably, the main scenario is a continuation of the fall to 1.2305 (session low).
The alternative scenario is a final consolidation above the MA 200 H1 level with subsequent growth to 1.2545 (Sep 11 high).
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04:01
The EUR/USD continued its decline yesterday
Yesterday, the EUR/USD pair traded lower and closed the day in the red zone around the price of 1.0665. Today the pair also fell slightly, dropping to 1.0615. On the hourly chart, EUR/USD is still trading below the moving average line MA (200) H1 (1.0700). The situation is similar on the four-hour chart. Based on the above, it is probably worth sticking to the southern direction in trading and while the pair remains below MA 200 H1, it may be necessary to look for entry points to sell for the formation of a correction.
- Resistances levels are at: 1.0660, 1.0690, 1.0735
- Support levels are at: 1.0610-15, 1.0550, 1.0515
Probably, the main scenario is a continued decline to 1.0615 (session low).
The alternative scenario is consolidation above MA 200 H1, followed by growth to 1.0770 (Sep 12 high).
Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read 
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