Technical Analysis

30 July 2020
  • 15:07

    Jerome Powell and company results resulted in mixed sentiment

    Yesterday, investors assessed the potential terms of the next stimulus package and the easing of coronavirus infections, while digesting the results of major US companies. The Federal Reserve’s Chairman Jerome Powell also dominated the attention of the markets.

    In Europe, the Stoxx Europe 600 index gained 0.5%, at the end of a session in which it fluctuated between gains and losses. The German DAX index closed at the waterline, the French CAC index lost 0.2% and the British FTSE 100 index rose 0.4%.

    Treasury yields continued to fall towards historic lows after Powell emphasised the central bank's commitment to aggressive economic stimulus.

    Oil prices have risen in Asia, now going down, as investors continued to assess data from the U.S. Department of Energy, or DOE, which showed an unexpected weekly rise in gasoline reserves, but a huge drop in more 10 million barrels of crude oil.


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    Analysis and opinions provided herein are intended solely for informational and educational purposes and don't represent a recommendation or investment advice by TeleTrade. Indiscriminate reliance on illustrative or informational materials may lead to losses.

  • 12:06

    NZD/USD is trading with a decline and testing MA (200) H1

    Today, the NZD/USD pair is trading down from $0.6670 to $0.6620, but is trading near the highs of early January. The pair is testing the level of the average MA (200) H1 ($0.6640), but on the four-hour chart it is trading above MA (200) H4 ($0.6530). 


    Resistance levels are at: $0.6690-0.6700, $0.6755, $0.6790

    Support levels are at: $0.6615, $0.6560, $0.6500

    The publication of analysis is a marketing communication and does not constitute recommendation, investment advice or research by TeleTrade. Analysis is not prepared in accordance with legal requirements promoting independent investment research. It is intended solely for informational and educational purposes and shall not be understood as an offer or solicitation to buy or sell financial instruments. Indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.

  • 11:59

    USD/JPY is trading near the lows of early March

    Today, the USD/JPY pair is trading in the range Y104. 90-105.30, after falling yesterday to a new low since the beginning of March Y104.75. On the hourly chart, the pair fell below the moving average line MA (200) H1 (Y106. 20) and on the four - hour chart-below MA (200) H4 (Y106.95). It is worth noting that the hourly chart has formed a bullish divergence on the MACD indicator.

     

    Resistance levels are at: Y105.70, Y106.20, Y106.65

    Support levels are at:  Y104.75, Y103.05, Y101.20

    The publication of analysis is a marketing communication and does not constitute recommendation, investment advice or research by TeleTrade. Analysis is not prepared in accordance with legal requirements promoting independent investment research. It is intended solely for informational and educational purposes and shall not be understood as an offer or solicitation to buy or sell financial instruments. Indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.


  • 11:53

    USD/CHF is trading near the June 2015 lows

    Today, the USD / CAD pair rose slightly to Chf0. 9140, after falling yesterday to the lows of June 2015 (Chf0.9115). The pair is trading below the moving average line MA (200) H1 (Chf0.9255), and on the four - hour chart-significantly below MA (200) H4 (Chf0.9400). It is worth noting that the 14-day relative strength index (RSI (14) on D1) is below the 30 level.



    Resistance levels are at: Chf0.9190, Chf0.9255-60, Chf0.9350

    Support levels are at: Chf0.9115, Chf0.9060, Chf0.8965

    The publication of analysis is a marketing communication and does not constitute recommendation, investment advice or research by TeleTrade. Analysis is not prepared in accordance with legal requirements promoting independent investment research. It is intended solely for informational and educational purposes and shall not be understood as an offer or solicitation to buy or sell financial instruments. Indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.


  • 11:35

    GBP / USD is trading near the highs of early March

    The GBP / USD pair continues to grow, reaching a new high of $1.3015 in early March. The pair is trading above the moving average line MA (200) H1 ($1.2900), and on the four - hour chart-above MA (200) H4 ($1.2575). It is worth noting that the 14-day relative strength index (RSI (14) on D1) is above the level of 70.


    Resistance levels are at:  $1.3050, $1.3110, $1.3200

    Support levels are at:  $1.2910, $1.2800-35, $1.2715

    The publication of analysis is a marketing communication and does not constitute recommendation, investment advice or research by TeleTrade. Analysis is not prepared in accordance with legal requirements promoting independent investment research. It is intended solely for informational and educational purposes and shall not be understood as an offer or solicitation to buy or sell financial instruments. Indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.

  • 11:16

    EUR/USD is trading near a two-year high

    Today, the EUR / USD pair is trading with a decline from $1.1795 to $1.1730, after reaching a new, almost two-year high of $1.1805 in the evening. The pair is trading above the moving average line MA (200) H1 ($1.1625), and on the four - hour chart-above MA (200) H4 ($1.1375). It is worth noting that the 14-day relative strength index (RSI (14) on D1) is above the level of 70, and the hourly chart has formed a bearish divergence on the MACD indicator


    Resistance levels are at: $1.1805, $1.1850, $1.1940

    Support levels are at: $1.1695, $1.1625, $1.1540

    The publication of analysis is a marketing communication and does not constitute recommendation, investment advice or research by TeleTrade. Analysis is not prepared in accordance with legal requirements promoting independent investment research. It is intended solely for informational and educational purposes and shall not be understood as an offer or solicitation to buy or sell financial instruments. Indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.


  • 06:03

    USD/CAD remains close to 7-week low

    Yesterday the USD/CAD was trading lower and closed the day in the red zone near the price of C$1.3335. Today it was trading in a narrow range of C$1.3335-50, staying close to the 7-week low. On the hourly chart, USD/CAD is still trading below the moving average MA line (200) H1 (C$1.3425). The situation is similar on the four-hour chart. 

    • Resistances levels are at: С$1.3405, С$1.3440, С$1.3480

    • Support levels are at: C$1.3335, C$1.3315, C$1.3250

    The publication of analysis is a marketing communication and does not constitute recommendation, investment advice or research by TeleTrade. Analysis is not prepared in accordance with legal requirements promoting independent investment research. It is intended solely for informational and educational purposes and shall not be understood as an offer or solicitation to buy or sell financial instruments. Indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.

  • 06:03

    AUD/USD is trading near April 2018 highs

    Yesterday the AUD/USD was trading higher and closed the day in positive territory around the $0.7185. Today it was trading in a narrow range of $0.7170-85, staying near the highs of April 2018. On the hourly chart, AUD/USD is still trading above the MA line (200) H1 ($0.7110). The situation is similar on the four-hour chart. 

    • Resistances levels are at: $0.7195-05, $0.7245, $0.7300

    • Support levels are at: $0.7150, $0.7115, $0.7065

    The publication of analysis is a marketing communication and does not constitute recommendation, investment advice or research by TeleTrade. Analysis is not prepared in accordance with legal requirements promoting independent investment research. It is intended solely for informational and educational purposes and shall not be understood as an offer or solicitation to buy or sell financial instruments. Indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.

  • 05:38

    Gold is trading near multi-year lows

    Yesterday, the XAU/USD was trading higher and closed the day in positive territory around $1970. Today, gold was trading in a narrow range of $1958-71, remaining close to multi-year lows. On the hourly chart, XAU/USD is still trading above the MA line (200) H1 ($1885). The situation is similar on the four-hour chart. 

    • Resistances levels are at: $1980, $2000, $2100

    • Support levels are at: $1940, $1907, $1887

    The publication of analysis is a marketing communication and does not constitute recommendation, investment advice or research by TeleTrade. Analysis is not prepared in accordance with legal requirements promoting independent investment research. It is intended solely for informational and educational purposes and shall not be understood as an offer or solicitation to buy or sell financial instruments. Indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.

  • 05:20

    Oil remains above MA 200 H1

    Brent crude traded higher yesterday and closed the day in positive territory around $43.65. Oil was trading in a narrow range of $43.65-75 today, staying close to yesterday's closing price. On the hourly chart, Brent is again trading above the moving average MA line (200) H1 ($43.45). The situation is similar on the four-hour chart. 

    • Resistances levels are at: $43.85, $44.20, $44.70-80

    • Support levels are at: $42.90, $42.30-40, $41.70

    The publication of analysis is a marketing communication and does not constitute recommendation, investment advice or research by TeleTrade. Analysis is not prepared in accordance with legal requirements promoting independent investment research. It is intended solely for informational and educational purposes and shall not be understood as an offer or solicitation to buy or sell financial instruments. Indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.

  • 04:56

    USD/JPY is trading near 19-week low

    Yesterday the USD/JPY traded in different directions in the range Y104.80-Y105.20 and closed the day without significant changes. Today it also traded in a narrow range of Y104.95-15, staying close to a 19-week low. On the hourly chart, USD/JPY is still trading below the MA line (200) H1 (Y106.25). The situation is similar on the four-hour chart. 

    • Resistances levels are at: Y105.65, Y106.10, Y106.45

    • Support levels are at: Y104.80, Y104.50, Y104.00

    The publication of analysis is a marketing communication and does not constitute recommendation, investment advice or research by TeleTrade. Analysis is not prepared in accordance with legal requirements promoting independent investment research. It is intended solely for informational and educational purposes and shall not be understood as an offer or solicitation to buy or sell financial instruments. Indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.

  • 04:41

    USD/CHF is trading near May 2015 lows

    Yesterday, the USD/CHF was trading lower and closed the day in the red around the Chf0.9125 price. Today it was trading in a narrow range of Chf0.9120-35, staying close to the May 2015 lows. On the hourly chart, USD/CHF is still trading below the moving average MA (200) H1 (Chf0.9260). The situation is similar on the four-hour chart. 

    • Resistances levels are at: Chf0.9185, Chf0.9225, Chf0.9260

    • Support levels are at: Chf0.9120, Chf0.9075, Chf0.9000

    The publication of analysis is a marketing communication and does not constitute recommendation, investment advice or research by TeleTrade. Analysis is not prepared in accordance with legal requirements promoting independent investment research. It is intended solely for informational and educational purposes and shall not be understood as an offer or solicitation to buy or sell financial instruments. Indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.

  • 04:20

    GBP/USD is trading near 20-week high

    Yesterday the GBP/USD was trading higher and closed the day in positive territory around the $1.2990. Today it was trading in a narrow range of $1.2970-95, staying close to the 20-week high. On the hourly chart, GBP/USD is still trading above the MA line (200) H1 ($1.2775). The situation is similar on the four-hour chart. 

    • Resistances levels are at: $1.3010, $1.3080, $1.3100

    • Support levels are at: $1.2910, $1.2840, $1.2805

    The publication of analysis is a marketing communication and does not constitute recommendation, investment advice or research by TeleTrade. Analysis is not prepared in accordance with legal requirements promoting independent investment research. It is intended solely for informational and educational purposes and shall not be understood as an offer or solicitation to buy or sell financial instruments. Indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.

  • 04:04

    EUR/USD continues to trade near the September 2018 high

    Yesterday the EUR/USD was trading higher and closed the day in positive territory around $1.1785. Today it was trading in a narrow range of $1.1765-90, staying close to the September 2018 high. On the hourly chart, EUR/USD is still trading above the MA line (200) H1 ($1.1610). The situation is similar on the four-hour chart. 

    • Resistances levels are at: $1.1805, $1.1850, $1.1900

    • Support levels are at: $1.1685-00, $1.1640, $1.1580

    The publication of analysis is a marketing communication and does not constitute recommendation, investment advice or research by TeleTrade. Analysis is not prepared in accordance with legal requirements promoting independent investment research. It is intended solely for informational and educational purposes and shall not be understood as an offer or solicitation to buy or sell financial instruments. Indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.  

30 July 2020
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