Technical Analysis

4 May 2021
  • 12:07

    The NZD/USD pair fell to a two-week low

    Today, the NZD/USD pair fell sharply from $0.7200 to a two-week low of $0.7115. The pair broke through the support of $0.7150, which became the nearest resistance. On the hourly chart, the pair is trading below the moving average line MA (200) H1 ($0.7200), but on the four-hour chart it remains above MA (200) H4 ($1.7105). Technically speaking, the support of MA (200) H4 ($1.7105) may keep prices from falling further. If it breaks through, prices may drop to $0.7070. The upper limit of $0.7205-10 represents a strong resistance level. The most likely range of the pair's movement for today may be hidden within the range of $0.7105-$0.7210


    Resistance levels are: $0.7150, $0.7205-10, $0.7255

    Support levels are: $0.7070, $0.7000, $0.6945


    The main scenario for the pair's promotion - correction and may be an increase to $0.7205-10 (May 3 high, MA (200) H1)

    An alternative scenario - a break of the support of $0.7070 (April 5-9 high) and may be a decline to $0.7000 (April 13 low)


  • 11:49

    USD/JPY consolidated above MA (200) H1

    Today, the USD/JPY pair is trading mainly with growth in the range of Y109. 00-50, after yesterday retreating from a three-week high of Y109. 70 and falling to Y108. 90. On the hourly chart, the pair is fixed above the moving average line MA (200) H1 (Y108. 60), and on the four-hour chart it remains above MA (200) H4 (Y109.15). Technically speaking, a strong resistance level Y109.75 can keep prices from further growth. If it breaks through, prices can soar to Y109. 95. The lower limit of Y108. 90 is the support level. The most likely range of the pair's movement for today may be hidden within the range of Y108. 90-109. 75

    Resistance levels areY109.70-75, Y109.95, Y110.35

    Support levels are: Y108.90, Y108.40-60, Y107.45-65


    The main scenario for the pair's promotion - if the resistance of Y109. 70-75 (April 13 and May 3 highs) is broken, the pair can rise to Y109. 95 (April 7-9 high)

    An alternative scenario - break of yesterday's low of Y108. 90 and may be a decline to Y108. 40-60 (April 29 low, MA (200) H1)


  • 11:36

    USD / CHF tests MA (200) H1

    Today, the USD/CHF pair has risen from Chf0. 9105 to Chf0.9160 and is testing the MA (200) H1 moving average line (Chf0.9130) on the hourly chart. But on the four-hour chart, the pair remains below MA (200) H4 (Chf0.9255). Technically speaking, a session high of Chf0. 9160 may keep prices from rising further. If it breaks through, prices may rise to Chf0. 9180-95. The lower bound of Chf0. 9080 represents the main support level. The most likely range of the pair's movement for today may be hidden within the range of Chf0. 9080-0. 9160


    Resistance levels are: Chf0.9160, Chf0.9180-95, Chf0.9215

    Support levels are: Chf0.9120-30, Chf0.9080, Chf0.9025


    The main scenario for the pair's promotion - correction and maybe a decline to Chf0. 9080 (April 29-30 low)

    An alternative scenario - consolidation above MA (200) H1 (Chf0. 9130) and maybe an increase to Chf0.9180-95 (April 21-22 and 29 highs)


  • 11:17

    GBP / USD tests MA (200) H1

    Today, the GBP/USD pair is trading in the range of $1.385-$1.3910 and is testing the MA (200) H1 ($1.3890) moving average line on the hourly chart. On the four-hour chart, it is trading above MA (200) H4 ($1.3830). Technically speaking, a strong support level of $1.3800 may keep prices from falling further. If it breaks through, prices may fall to $1.1715. The upper limit of $1.3930 represents the resistance level. The most likely range of the pair's movement for today may be hidden within the range of $1.3800-1.3930


    Resistance levels are: $1.3930,  $1.3975, $1.4010

    Support levels are: $1.3850, $1.3800, $1.3715


    The main scenario for the pair's promotion -  correction and, perhaps, growth to $1.3930 (May 3 high)

    An alternative scenario - if the session low of $1.3850 is broken, the pair may fall to $1.3800 (April 30 and May 3 low)



  • 11:02

    The EUR / USD pair fell to an almost two-week low

    Today, the EUR / USD pair is trading with a decline from $1.2065 to $1.2000, almost reaching the low of April 22 ($1.1990) and losing all the positions won yesterday. On the hourly chart, the pair remains below the moving average line MA (200) H1 ($1.2070), but on the four-hour chart, it is trading well above MA (200) H4 ($1.1925). Technically speaking, a strong support level of $1.1990 may keep prices from falling further. If it breaks through, prices may fall to $1.1940. The upper limit of $1.2075 represents the resistance level. The most likely range of the pair's movement for today may be hidden within the range of $1.1990-1.2075


    Resistance levels are: $1.2070-75, $1.2115, $1.2150

    Support levels are: $1.1990, $1.1940, $1.1865

    The main scenario for promoting the pair  - correction and may be an increase to $1.2070-75 (May 3 high, MA (200) H1

    An alternative scenario - decline to $1.1990 (April 22 low) and then maybe to $1.1940 (April 19 low)

  • 06:18

    USD/CAD is trading near January 2018 lows

    Yesterday the USD/CAD traded in different directions in the range of С$1.2265-С$1.2315 and closed the day without significant changes. Today it was trading in a narrow range of С$1.2275-95, staying near the lows of January 2018. On the hourly chart, USD/CAD is still trading below the moving average MA (200) H1 (С$1.2380). The situation is similar on the four-hour chart. Based on the foregoing, it is probably worth sticking to the south direction in trading and while the USD/CAD remains below MA 200 H1, it may be necessary to look for entry points to sell on the formation of a correction.

    • Resistances levels are at: С$1.2315, С$1.2350, С$1.2415

    • Support levels are at: C$1.2265, C$1.2200, C$1.2100

    Probably, the main scenario - is a continuation of the decline to C$1.2265 (May 3 low). An alternative scenario - may be consolidation above MA (200) H1 with a subsequent rise to C$1.2575 (Apr 14 high).

  • 06:01

    AUD/USD continues to test support for MA 200 H1

    Yesterday the AUD/USD was trading higher and closed the day in positive territory around the $0.7760. Today it dropped slightly, dropping to $0.7735. On the hourly chart, AUD/USD continues to test the strength of the support - the moving average MA (200) H1 ($0.7755). On the four-hour chart, it remains above the MA 200 H4 line for now. Based on the above, it is probably worth sticking to the northern direction in trading and while the AUD/USD remains above MA 200 H1, it may be necessary to look for buy entry points at the end of the correction.

    • Resistances levels are at: $0.7765, $0.7780, $0.7815

    • Support levels are at: $0.7690-95, $0.7635, $0.7585

    Probably, the main scenario - is the continuation of the upward movement to $0.7765 (May 3 high). An alternative scenario - may be final consolidation below MA 200 H1, followed by a decline to $0.7690 (Apr 22 low).

  • 05:44

    Gold stays above MA 200 H1

    Yesterday, the XAU/USD was trading higher and closed the day in positive territory around $1792. Today gold was trading in a narrow range of $1788-93, staying close to yesterday's closing price. On the hourly chart, XAU/USD is still trading above the MA line (200) H1 ($1779). The situation is similar on the four-hour chart. Based on the foregoing, it is probably worth sticking to the northern direction in trading, and while the XAU/USD remains above MA 200 H1, it may be necessary to look for buy entry points for the formation of a correction.

    • Resistances levels are at: $1797, $1805, $1813-15

    • Support levels are at: $1775, $1764, $1755

    Probably, the main scenario - is the continuation of the upward movement to $1797 (May 3 high). An alternative scenario - may be final consolidation below the MA 200 H1, followed by a decline to $1755 (Apr 29 low).

  • 05:17

    Oil stays above MA 200 H1

    Brent crude traded higher yesterday and closed the day in positive territory around $67.80. Oil was trading in a narrow range of $67.80-05 today, staying close to yesterday's closing price. On the hourly chart, Brent is still trading above the moving average MA line (200) H1 ($66.40). The situation is similar on the four-hour chart. Based on the foregoing, it is probably worth sticking to the northern direction in trading, and while Brent remains above MA 200 H1, it may be necessary to look for buy entry points for the formation of a correction.

    • Resistances levels are at: $68.15, $68.85, $70.10

    • Support levels are at: $66.45, $65.55, $64.40

    Probably, the main scenario - is a further rise to $68.85 (Apr 29 high). An alternative scenario - may be final consolidation below MA 200 H1 with a subsequent decline to $64.40 (Apr 26 low).

  • 05:03

    USD/JPY remains above MA 200 H1

    Yesterday, the USD/JPY was trading lower and closed the day in the red around the Y109.05. Today it was trading in a narrow range of Y109.00-25, staying close to yesterday's closing price. On the hourly chart, USD/JPY is still trading above the MA line (200) H1 (Y108.50). The situation is similar on the four-hour chart. Based on the foregoing, it is probably worth sticking to the northern direction in trading, and while the USD/JPY remains above MA 200 H1, it may be necessary to look for buy entry points for the formation of a correction.

    • Resistances levels are at: Y109.65, Y109.95, Y110.55

    • Support levels are at: Y108.70-75, Y108.45, Y108.15-20

    Probably, the main scenario - is the continuation of the upward movement to Y109.65 (May 3 high). An alternative scenario - may be consolidation below MA 200 H1, followed by a decline to Y107.45 (Apr 23 low).

  • 04:42

    USD/CHF remains below MA 200 H1

    The USD/CHF was trading lower yesterday and closed the day in the red around the Chf0.9110. Today it rallied slightly, rising to Chf0.9135. On the hourly chart, USD/CHF is still trading below the moving average MA line (200) H1 (Chf0.9135). The situation is similar on the four-hour chart. Based on the above, it is probably worth sticking to the south direction in trading and while the USD/CHF remains below MA 200 H1, it may be necessary to look for a sell entry point at the end of the correction.

    • Resistances levels are at: Chf0.9145, Chf0.9180-90, Chf0.9215

    • Support levels are at: Chf0.9080-95, Chf0.9045, Chf0.8995

    Probably, the main scenario - is a subsequent decline to Chf0.9095 (May 3 low). Alternative scenario - may be consolidation above MA 200 H1, with further advance towards Chf0.9215 (Apr 19 high).

  • 04:21

    GBP/USD continues to test support for MA 200 H1

    Yesterday the GBP/USD was trading higher and closed the day in positive territory around the $1.3905. Today it dropped slightly, dropping to $1.3875. On the hourly chart, GBP/USD continues to test the strength of the support - the moving average MA (200) H1 ($1.3895). On the four-hour chart, it remains above the MA 200 H4 line for now. Based on the above, it is probably worth sticking to the northern direction in trading and while the GBP/USD remains above MA 200 H1, it may be necessary to look for buy entry points at the end of the correction.

    • Resistances levels are at: $1.3930, $1.3975, $1.4005

    • Support levels are at: $1.3845, $1.3800, $1.3715

    Probably, the main scenario - is continued growth to $1.3930 (May 3 high). An alternative scenario - may be final consolidation below the MA 200 H1 level, followed by a decline to $1.3800 (Apr 30 low).

  • 04:02

    The EUR/USD continues to test the MA 200 H1 support

    Yesterday the EUR/USD was trading higher and closed the day in positive territory around $1.2060. Today it dropped slightly, dropping to $1.2040. On the hourly chart, EUR/USD continues to test the strength of the support - the moving average line MA (200) H1 ($1.2070). On the four-hour chart, it remains above the MA 200 H4 line for now. Based on the above, it is probably worth adhering to the northern direction in trading, and until the EUR/USD finally consolidates below MA 200 H1, it may be necessary to look for buy entry points at the end of the correction.

    • Resistances levels are at: $1.2075-90, $1.2125, $1.2150

    • Support levels are at: $1.2015, $1.1995, $1.1945

    Probably, the main scenario - is continued growth towards $1.2075 (May 3 high). An alternative scenario  - may be final consolidation below the MA 200 H1, followed by a decline to $1.1995 (Apr 22 low).

4 May 2021
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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75.42% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.