Technical Analysis

24 November 2021
  • 13:09

    NZD/USD is trading near a 6-week low

    Today, the NZD/USD pair is trading mainly with a decline from $0.6960 to a 6-week low of $0.6890. On the hourly chart, the pair dropped below the MA (200) H1 moving average line ($0.7000). The situation is similar on the four-hour chart. Based on this, it is probably worth sticking to the southern direction in trade, and perhaps you should look for exit points for sale.


    Resistance levels are: $0.6960, $0.7000-15, $0.7050

    Support levels are:  $0.6860-75, $0.6805, $0.6750


    The main scenario for the pair's promotion — the pair may decline to $0.6860-75 (September 29-30, October 1 and 6 lows)

    An alternative scenario — correction and there may be an increase to $0.6960 (November 23 high, MA (200) H1)


  • 12:50

    USD/JPY is trading near the highs of March 2017

    Today, the USD/JPY pair is trading in the range Y114.80-115.25 - near the highs of March 2017. On the hourly chart, the pair is trading above the moving average line MA (200) H1 (Y114.40) and on the four-hour chart - above MA (200) H4 (Y113.90). Based on this, it is probably worth sticking to the northern direction in trading, and perhaps you should look for exit points to buy.

     

    Resistance levels are: Y115.25, Y115.50, Y116.90

    Support levels are: Y114.80, Y114.40-50, Y113.60



    The main scenario for the pair's promotion —if the session maximum of Y115.25 is broken, the pair may rise to Y115.50 (March 10’ 2017 high)

    An alternative scenario — the breakout of the session low Y114.80 will be broken, then the pair may fall to Y114.40-50 (November 23 low, MA (200) H1)


  • 12:41

    USD/CHF rose to a near two-month high

    Today, the USD/CHF pair is trading mainly with an increase from Chf0.9320 to Chf0.9370, reaching an almost two-month high. On the hourly chart, the pair remains above the MA (200) H1 moving average line (Chf0.9280). The situation is similar on the four-hour chart. Based on this, it is probably worth sticking to the northern direction in trading, and perhaps you should look for exit points to buy.


    Resistance levels are: Chf0.9370, Chf0.9395, Chf0.9440

    Support levels are: Chf0.9280-0.9300, Chf0.9250,  Chf0.9185



    The main scenario for the pair's promotion — if the resistance of Chf0.9370 (September 30 high, session maximum) is broken, then the pair may rise to Chf0.9395 (April 6 high)

    An alternative scenario — correction and may be a decrease to Chf0.9280-0.9300 (November 23 low, MA (200) H1)


  • 12:21

    GBP/USD remains below MA (200) H1

    Today, the GBP/USD pair is trading in the range of $1.3350-90 after reaching the December 2020 lows yesterday ($1.3340). On the hourly chart, the pair dropped below the moving average line MA (200) H1 ($1.3430), and on the four-hour chart, the pair remains below MA (200) H4 ($1.3600). Based on this, it is probably worth sticking to the southern direction in trading, and perhaps you should look for exit points for sale at the end of the correction.


    Resistance levels are: $1.3410, $1.3430-50, $1.3515

    Support levels are: $1.3340, $1.3305, $1.3190


    The main scenario for the pair's promotion — a break of yesterday's low of $1.3340 and there may be a decline to $1.3305 (December 22’ 2020 low)

    An alternative scenario — growth to $1.3410 (November 23 high) and then maybe to $1.3430-50 (November 22 high, MA (200) H1)


  • 12:11

    EUR/ USD is trading near the lows of the beginning of July 2020

    Today, the EUR/USD pair is trading in the range of $1.1200-55 - near the lows of the beginning of July 2020. On the hourly chart, EUR/USD was fixed below the moving average line of MA (200) H1 ($1.1330) and on the four-hour chart - below MA (200) H4 ($1.1520). Based on this, it is probably worth sticking to the southern direction in trade, and perhaps you should look for exit points for sale. However, it is worth noting that the 14-day relative strength index (RSI (14) on D1) is below the level of 30, which signals a possible change in the direction of price movement


    Resistance levels are: $1.1275, $1.1330, $1.1385

    Support levels are: $1.1200, $1.1170-85, $1.1110


    The main scenario for promoting the pair  — break of the session low of $1.1200 and there may be a decline in the pair to $1.1170-85 (June 19-20’2020 and July 1” 2020 lows)

    An alternative scenario — the support breakthrough is $1.1275 (November 23 high) and there may be an increase to MA (200) H1 ($1.1330)


  • 07:10

    USD/CAD remains above MA 200 H1

    Yesterday, the USD/CAD was trading lower and closed the day in the red around the C$1.2670. Today it was trading in a narrow range of C$1.2665-90, staying close to yesterday's closing price. On the hourly chart, USD/CAD is still trading above the moving average MA line (200) H1 (C$1.2605). 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/CAD 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: С$1.2745, С$1.2775, С$1.2795

    • Support levels are at: С$1.2630, С$1.2585, С$1.2540-50

    Probably, the main scenario is continued growth to C$1.2745 (Nov 23 high). An alternative scenario is consolidation below MA (200) H1, followed by a decline to C$1.2300 (Oct 27 low).

  • 07:07

    The AUD/USD is declining

    Yesterday the AUD/USD traded in different directions in the range of $0.7205-35 and closed the day without significant changes. Today it fell down to $0.7200. On the hourly chart, AUD/USD is still trading below the MA line (200) H1 ($0.7280). 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 AUD/USD remains below MA 200 H1, it may be necessary to look for a sell entry point for the formation of a correction.

    • Resistances levels are at: $0.7270, $0.7290-05, $0.7345

    • Support levels are at: $0.7190-00, $0.7170, $0.7150

    Probably, the main scenario is a downward movement to $0.7200 (session low). Alternative scenario is final consolidation above MA 200 H1 with subsequent growth to $0.7390 (Nov 10 high).

  • 06:54

    Gold is trading near a 3-week low

    The XAU/USD was trading lower yesterday and closed the day in the red around $1790. Gold was trading in a tight range of $1789-96 today, staying close to a 3-week low. On the hourly chart, XAU/USD is still trading below the moving average MA (200) H1 ($1849). 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 XAU/USD remains below MA 200 H1, it may be necessary to look for a sell entry point for the formation of a correction.

    • Resistances levels are at: $1812, $1822, $1849

    • Support levels are at: $1781, $1770, $1758

    Probably, the main scenario is a downtrend to $1781 (Nov 23 low). An alternative scenario is consolidation above the MA 200 H1 with a subsequent rise to $1877 (Nov 16 high).

  • 06:35

    Oil tests resistance MA 200 H1

    Brent crude traded higher yesterday and closed the day in positive territory around $82.30. Oil was trading in a narrow range of $81.95-$82.70 today, staying close to yesterday's closing price. On the hourly chart, Brent is testing resistance - the moving average MA (200) H1 ($81.35). On the four-hour chart, oil remains below the MA 200 H4 line for now. Based on the above, it is probably worth sticking to the south direction in trading, and while Brent 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: $83.40-80, $84.60, $85.95

    • Support levels are at: $78.20-65, $77.25, $75.65

    Probably, the main scenario is a subsequent decline to $78.65 (Nov 23 low). An alternative scenario is consolidation above the MA 200 H1 with a subsequent rise to $86.70 (Oct 25 high).

  • 06:01

    USD/JPY is trading near March 2017 highs

    Yesterday, the USD/JPY was trading higher and closed the day in positive territory around the Y115.15. Today it was trading in a narrow range of Y114.90-20, staying near the highs of March 2017. On the hourly chart, USD/JPY is still trading above the moving average MA (200) H1 (Y114.35). 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: Y115.20, Y116.00, Y117.00

    • Support levels are at: Y114.50, Y114.05, Y113.60

    Probably, the main scenario is the continuation of the upward movement to Y115.20 (session high). An alternative scenario is consolidation below MA 200 H1, followed by a decline to Y112.20 (Oct 11 low).

  • 05:38

    USD/CHF is trading near 7-week high

    Yesterday the USD/CHF traded in different directions in the range of Chf0.9300-40 and closed the day without significant changes. It was also trading in a narrow range of Chf0.9325-45 today, staying close to a 7-week high. On the hourly chart, USD/CHF is still trading above the MA line (200) H1 (Chf0.9270). 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/CHF 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: Chf0.9345, Chf0.9365, Chf0.9395

    • Support levels are at: Chf0.9300, Chf0.9250-65, Chf0.9180-85

    Probably, the main scenario is a further rise to Chf0.9345 (session high). Alternative scenario is consolidation below the MA 200 H1 level, followed by a decline towards Chf0.9085 (Nov 1 low).

  • 05:28

    GBP/USD is trading below MA 200 H1 again

    The GBP/USD was trading lower yesterday and closed the day in the red around $1.3375. Today it was trading in a narrow range of $1.3365-80, staying close to yesterday's closing price. On the hourly chart, GBP/USD is still trading below the MA line (200) H1 ($1.3425). 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 GBP/USD remains below MA 200 H1, it may be necessary to look for a sell entry point for the formation of a correction.

    • Resistances levels are at: $1.3410, $1.3450, $1.3475

    • Support levels are at: $1.3345, $1.3305, $1.3190

    Probably, the main scenario is the continuation of the decline to $1.3345 (Nov 23 low). An alternative scenario is consolidation above the MA 200 H1 level with a subsequent rise to $1.3850 (Sep 16 high).

  • 05:01

    EUR/USD is trading near July 2020 lows

    Yesterday the EUR/USD traded in different directions in the range of $1.1225-75 and closed the day without significant changes. Today it was trading in a narrow range of $1.1230-50, staying close to the lows of July 2020. On the hourly chart, EUR/USD is still trading below the moving average MA (200) H1 ($1.1340). 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 EUR/USD remains below MA 200 H1, it may be necessary to look for a sell entry point for the formation of a correction.

    • Resistances levels are at: $1.1290, $1.1320, $1.1375-85

    • Support levels are at: $1.1225, $1.1185, $1.1160

    Probably, the main scenario is the continuation of the decline to $1.1225 (Nov 23 low). An alternative scenario is a final consolidation above MA 200 H1, with a subsequent rise to $1.1575 (high of the American session on Nov 10).

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72.72% 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.
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