Atirox.com - Daily Analysis

[andy.atx]

AUD/USD: TECHNICAL ANALYSIS 04.12.2019

Current trend
The AUD/USD pair begins today’s trading with bearish bias due to correction. If the current trend maintains, the pair will decline to 0.68054 support. This level seems a key target of the downward correction. There is a chance of an upward rebound, while its breakdown would allow the fall to continue to the area of 0.67902-0.67749.
Alternative scenario
The pullback above 0.68359 could lead the price back to 0.68512-0.68614 resistance. One may speak about upward movement continuation after the price consolidates above the resistance level of 0.68665. In this case, the next targets of buyers will be the level of 0.68860.
Technical indicators mostly reflect the moderate maintenance of the current downward trend.
MACD histogram has moved to a decline in the positive zone, forming a weak sell signal.
Stochastic is pointed downwards, reflecting the high possibility of the downward movement formation.
Bollinger Bands are pointed upwards.
Support and resistance
Support levels: 0.68207, 0.68054, 0.67902.
Resistance levels: 0.68359, 0.68512, 0.68665.
Trading recommendations
Short positions can be opened below the level of 0.68207 with the target at around 0.68054-0.67902 and stop-loss at 0.68307.
Long positions can be opened above the level of 0.68359 with the target at around 0.68512-0.68614 and stop-loss at 0.68274.

 

[andy.atx]

EUR/JPY: TECHNICAL ANALYSIS 10.12.19

Current trend

On the 4-hour chart, the instrument keeps a positive dynamic The price is approaching a strong resistance in the region of 120.313. The area of 120.313-120.380 can prevent the instrument from growing, as the possibility of the reverse of the price is high there. Meanwhile, a decisive breakout of 120.380 will indicate the uptrend resumption and give a prospect of growth to the 120.508-120.670 resistance area.

Alternative scenario

If the EUR/JPY cannot consolidate above the level of 120.313 during the short term period, the price can reverse and retest the support level of 120.117. Should prices continue slipping under this level, the mark of 119.922 might try activating an upward rebound. However, the breakdown of 119.922 could trigger a pair’s active sales. In this case, the next targets of sellers will be the level of 119.727.

Technical indicators

The technical picture is mixed.

Bollinger Bands are pointed downwards.

MACD is decreasing in the negative zone.

Stochastic is pointed upwards, reflecting the high possibility of upward movement formation.

Support and resistance

Support levels:120.117, 119.922, 119.727.
Resistance levels: 120.313, 120.508, 120.703.

Trading recommendations

Short positions can be opened below the level of 120.117 with the target at around 119.922 and stop-loss at 120.181.

Long positions can be opened above the level of 120.380 with the target at around 120.670 and stop-loss at 120.283.

 

[andy.atx]

GBP/USD: TECHNICAL ANALYSIS 17.12.19

Current trend

GBP/USD quotes attempted to decline, but reaching 1.32348 mark moved to an upward correction.
If the "bulls" manage to raise the rate above the level of 1.33057 (the middle line of Bollinger bands), the correction can continue to the area of 1.33355-1.33667. The area of 1.33667 seems a strong resistance area, which can activate a price reverse. Meanwhile, the breakout of this level will be a signal for upward trend resumption and let the price grow to the area of 1.34277.

Alternative scenario

The rebound from 1.33057 and pullback below the support of 1.32446 will give a prospect of decline to 1.32135-1.31836 support. This level will be a “key” for the sellers. There is a chance of an upward rebound, while its breakdown would allow the fall to continue.

Technical indicators

The technical picture is mixed.

Bollinger Bands are pointed upwards., reflecting the maintenance of the upward potential.

MACD volumes are decreasing in the positive zone., forming a weak sell signal.

Stochastic has left the oversold area and is pointed upwards, reflecting the high possibility of upward movement formation.

Support and resistance

Support levels: 1.32446, 1.31836, 1.31226.
Resistance levels: 1.33057, 1.33667, 1.34277.

Trading recommendations

Short positions can be opened below the level of 1.32400 with the target at around 1.32135-1.31836 and stop-loss at 1.32588.
Long positions can be opened above the level of 1.33057 with the target at around 1.33355-1.33667 and stop-loss at 1.32853.

 

[andy.atx]

XAU/USD: TECHNICAL ANALYSIS 18.12.19

Current trend

The XAU/USD pair begins today’s trading with a slight bullish bias. The instrument is now testing the resistance level of 1477.14. If the "bulls" manage to raise the rate above this level, the growth can continue to the area of 1480.47 mark. This level can activate a downward rebound, while its breakout would give a prospect of growth to the 1484.38 resistance.

Alternative scenario

The pullback and pair’s sustained below 1474.87 will be a signal for downward trend formation and let the price test the 1472.66 support. One may speak about downward movement continuation after the price consolidates below the level of 1472.00. In this case, the next targets of sellers will be the level of 1468.75.

Technical indicators

Technical indicators mostly maintain a moderate buy signal.

Bollinger Bands are pointed upwards.

MACD is slowly growing in the positive zone.

Stochastic is pointed downwards, reflecting the high possibility of the downward movement formation.

Support and resistance

Support levels: 1474.87, 1472.66, 1468.75.
Resistance levels: 1477.14, 1480.47, 1484.38.

Trading recommendations

Short positions can be opened below the level of 1474.87 with the target at around 1472.66-1470.00 and stop-loss at 1476.10.
Long positions can be opened above the level of 1477.14 with the target at around 1480.47 and stop-loss at 1476.14.

 

[andy.atx]

EUR/JPY: TECHNICAL ANALYSIS 23.12.19

Current trend

EUR/JPY continues to consolidate in the side channel after a significant decline over the past four days. Meanwhile, the pair has a potential for further decline. The decisive breakdown of 121.094 is needed to indicate the downward trend resumption. In this case, the sellers will aim for the level of 120.703.

Alternative scenario

The rebound from 121.094 and pullback above 121.343 will be a sign for upward correction formation and give a prospect of growth to 121.484-121.595 resistance. The area of 121.595 is coincided with the middle line of Bollinger Bands and can activate a downward rebound. However, the breakout of 121.600 could trigger a pair’s active growth to the 121.875 resistance.

Technical indicators

Technical indicators mostly maintain a sell signal.

Bollinger Bands are pointed downwards.

MACD is growing in the negative zone.

Stochastic’s lines are in the negative zone and pointed sideways.

Support and resistance

Support levels: 121.094, 120.703, 120.313.
Resistance levels: 121.343, 121.595, 121.875.

Trading recommendations

Short positions can be opened below the level of 121.094 with the target at around 120.703 and stop-loss at 121.224.
Long positions can be opened above the level of 121.343 with the target at around 121.595 and stop-loss at 121.259.

 

[andy.atx]

USD/CHF: TECHNICAL ANALYSIS 24.12.19

Current trend

On the 4-hour chart, the instrument keeps a moderate positive dynamic. The price is approaching a strong resistance in the region of 0.98267. There is a chance of a downward rebound, while its breakout would allow the growth to continue to the area of 0.98419-98534.

Alternative scenario

The rebound from 0.98267 could lead the price back to 0.98114 support. The downward trend will be restored after the price is set below the level of 0.98071, which is the middle line of Bollinger Bands. In this case, the next targets of sellers will be the level of 0.97961-0.97809.

Technical indicators

Technical indicators reflect the moderate maintenance of the current upward trend.

Bollinger Bands are diverging on the background of bullish momentum.

MACD is growing in a positive zone.

Stochastic is pointed upwards, reflecting the high possibility of upward movement formation.

Support and resistance

Support levels: 0.98114, 0.97961, 0.97809.
Resistance levels: 0.98267, 0.98419, 0.98534.

Trading recommendations

Long positions can be opened above the level of 0.98267 with the target at around 0.98419-0.98534 and stop-loss at 0.98178.
Short positions can be opened below the level of 0.98114 with the target at around 0.97961-0.97809 and stop-loss at 0.98215.

 

[andy.atx]

USD/CHF: TECHNICAL ANALYSIS 30.12.19

Current trend

On the 4-hour chart, the instrument keeps a negative dynamic. If the current trend maintains, the next target of the sellers will be 0.97046 support. This mark can prevent the instrument from falling, as the possibility of the upward reverse of the price is high there. However, the decisive break of 0.97000 will be a signal for downward trend resumption and give a prospect of decline to 0.96700-0.96500.

Alternative scenario

The pullback above 0.97351 will be a sign of upward correction formation. In this case, the growth can continue to the area of 0.97561-0.97656 resistance. There is a chance of a downward rebound, while its breakout would allow the growth to continue to the area of 0.97961 level.

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 in the oversold area and is pointed upwards, reflecting the high possibility of upward movement formation.

Support and resistance

Support levels: 0.97192, 0.97046, 0.96700, 0.96500.
Resistance levels: 0.97351, 0.97561, 0.97656, 0.97961.

Trading recommendations

Short positions can be opened below the level of 0.97192 with the target at around 0.97046-0.96900 and stop-loss at 0.97289
Long positions can be opened above the level of 0.97351 with the target at around 0.97656 and stop-loss at 0.97249.

 

[andy.atx]

AUD/USD: TECHNICAL ANALYSIS 31.12.19

Current trend

On the 4-hour chart, the AUD/USD pair shows a moderate positive dynamic. At the moment the price has met the resistance at the level of 0.70063. The general upward trend is still maintained, but the slightly overbought conditions on the chart could be a sign if of downward correction formation.
The breakout of 0.70063 and the pair’s sustained trading above it will let the price grow to the area of 0.70190-0.70496 resistance.

Alternative scenario

The pullback below 0.69885 will be a sign of a downward correction's extension and give a prospect of decline to 0.69670 support area. Should prices continue slipping under 0.67650, the level of 0.69580 might try activating an upward rebound.

Technical indicators

Technical indicators maintain a buy signal, but the downward correction is possible in the short term.

Bollinger Bands are pointed upwards.

MACD volumes are in the positive 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: 0.69885, 0.69680, 0.69580.
Resistance levels: 0.70063, 0.70190, 0.70496.

Trading recommendations

Short positions can be opened below the level of 0.69885 with the target at around 0.69680-0.69580 and stop-loss at 0.69986.
Long positions can be opened above the level of 0.70063 with the target at around 0.70190-0.70496 and stop-loss at 0.69918.

 

[andy.atx]

EUR/JPY: TECHNICAL ANALYSIS 02.01.2020

Current trend

The EUR/JPY pair starred today’s trading with a slight downward gap. The instrument is now testing the support level of 121.782. The breakdown of this level can accelerate the pair's decline towards 121.680 support. This level can activate an upward rebound, while its breakdown would give the prospect of decline to 121.484 support.

Alternative scenario

The upward rebound from 121.680 and the pair’s sustained trading above 121.875 will be a sign of upward correction formation and give a prospect of growth to the 122.070 resistance. The decisive break of this level is needed to indicate the upward trend resumption. In this case, the next targets of buyers will be the level of 122.266-122.348.

Technical indicators

Technical indicators mostly maintain a sell signal.

Bollinger Bands are diverging on the background of bearish momentum.

MACD volumes are decreasing in the positive zone.

Stochastic is pointed downwards.

Support and resistance

Support levels: 121.782, 121.680, 121.484, 121.289.
Resistance levels: 121.875, 122.070, 122.266, 122.348.

Trading recommendations

Short positions can be opened below the level of 121.782 with the target at around 121.680-121.484 and stop-loss at 121.881.
Long positions can be opened above the level of 121.875 with the target at around 122.070-122.266 and stop-loss at 121.744.

 

[andy.atx]

EUR/JPY: TECHNICAL ANALYSIS 07.01.20

Current trend

On the 4-hour chart, the instrument keeps a positive dynamic. The price is approaching a strong resistance in the region of 121.484. Assuming the pair’s ability to cross this level, the mark of 121.875 can be targeted if holding long positions. For the short-term period, this level seems a strong resistance that can activate a downward rebound.

Alternative scenario

The downward rebound from 121.484 resistance and pullback below 121.289 will be a sign of downward correction formation and let the price decline to 121.094 support. This level is coincided with the middle line of Bollinger bands and can be a main target of the potential downward correction. There is a high chance of an upward rebound, while its breakdown would allow the fall to continue to the area of 120.703 support.

Technical indicators

Technical indicators reflect the moderate maintenance of the current upward trend.

Bollinger Bands are converging on the background of bullish momentum.

MACD volumes are decreasing in the negative zone.

Stochastic is in the overbought area and is pointed sideways.

Support and resistance

Support levels: 121.289, 121.094, 120.703.
Resistance levels: 121.484, 121.875, 122.266.

Trading recommendations

Short positions can be opened below the level of 121.094 with the target at around 120.703 and stop-loss at 121.220.
Long positions can be opened above the level of 121.484 with the target at around 121.875 and stop-loss at 121.353.

 

[andy.atx]

USD/CHF: TECHNICAL ANALYSIS 13.01.20

Current trend

The price has tested the resistance level of 0.97358 and was slightly corrected downwards, but the upward potential maintains. The breakout of 0.97351 resistance and pair’s sustained trading above it will give a prospect of growth to the area of 0.97572-0.97656.

Alternative scenario

The downward rebound from 0.97351 and pullback below 0.97242 will be a signal for downward trend resumption and let the price fall to the area of 0.97046 support. Should prices continue slipping under 0.97046, the mark of 0.96913 might try activating an upward rebound. Meanwhile, the further close below 0.96913 may push USD/CHF lower towards 0.96741.

Technical indicators

The technical picture is mixed.

Bollinger Bands are pointed upwards.

MACD volumes are decreasing in the positive zone, forming a weak sell signal.

Stochastic rebounded from the oversold area and is pointed upwards, reflecting the high possibility of upward movement formation.

Support and resistance

Support levels: 0.97242, 0.97046, 0.96913, 0.96741.
Resistance levels: 0.97351, 0.97572, 0.67656.

Trading recommendations

Short positions can be opened below the level of 0.97242 with the target at around 0.97046-0.96913 and stop-loss at 0.97351.

Long positions can be opened above the level of 0.97351 with the target at around 0.97572-0.97656 and stop-loss at 0.97249.

 

[andy.atx]

AUD/USD: TECHNICAL ANALYSIS 14.01.20

Current trend

AUD/USD quotes attempted to decline, but reaching 0.68843 mark (the middle line of Bollinger Bands) moved to an upward correction, but the general downward trend is not excluded. The breakdown of 0.68843 and sustained trading below this level will give a prospect of decline to 0.68665 support. Should prices continue slipping under 0.68660 the area of the level of 0.68515-0.68359 will be the key support area that can activate an upward rebound.

Alternative scenario

If the "bulls" manage to raise the rate above the level of 0.69076, the correction can continue to the area of 0.69275. The decisive break of this level is needed to indicate the upward trend resumption. In this case, the next targets of buyers will be the level of 0.69580.

Technical indicators

The technical picture is mixed.

Bollinger Bands are pointed upwards.

MACD volumes are in the positive zone and are moving along the zero line, reflecting the relative calmness of the markets and sideways movement of the price.

Stochastic’s lines are pointed downwards and are reaching the oversold area. , keeping a sell signal.

Support and resistance

Support levels: 0.68843, 0.68665, 0.68359.
Resistance levels: 0.69076, 0.69275, 0.69580.

Trading recommendations

Short positions can be opened below the level of 0.68843 with the target at around 0.68665 -0.68515 and stop-loss at 0.68952.
Long positions can be opened above the level of 0.69275 with the target at around 0.69580 and stop-loss at 0.69173.

 

[andy.atx]

EUR/JPY: TECHNICAL ANALYSIS 15.01.20

Current trend

The price has tested the support level of 122.188 and was slightly corrected upwards, but the general downward trend maintains. The breakdown of the 122.266 support will let the price retest 122.188 level. One may speak about downward movement continuation after the price consolidates below this level. In this case, the next targets of sellers will be the level of 121.875.

Alternative scenario

The upward rebound from 122.266 support and consolidation of the price above 122.396 will be a signal for upward correction resumption and give the prospect of growth to the 122.562-122.656 resistance. Should prices continue growing above 122.656, the level of 122.755 might try activating a downward rebound.

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 volumes are decreasing in the positive zone.

Stochastic’s lines are pointed downwards keeping a sell signal.

Support and resistance

Support levels: 122.266, 122.188, 121.875.
Resistance levels: 122.396, 122.656, 122.755.

Trading recommendations

Short positions can be opened below the level of 122.266 with the target at around 122.188-121.875 and stop-loss at 122.370.
Long positions can be opened above the level of 122.396 with the target at around 122.656 and stop-loss at 122.309.

 

[andy.atx]

EUR/JPY: TECHNICAL ANALYSIS 20.01.20

Current trend

On the 4-hour chart, the instrument is correcting up from the lower line of the Bollinger Bands (122.102) and is testing the resistance 122.266. The area of 122.266-122.305 can activate a downward reverse of the price, while its breakout will give a prospect of growth to the 122.474 resistance. This level is coincided with the middle line of Bollinger Bands and seems a key target of the upward correction. The decisive break of 122.474 is needed to indicate the upward trend resumption. In this case, the next targets of buyers will be the area of levels 122.656-122.820.

Alternative scenario

The downward rebound from 122.266 and pullback below 122.102 will be a signal for downward trend resumption and let the price decline to the 121.875 support. This level will be a key sellers' target for the short-term period. There is a high chance of an upward rebound. However, the decisive breakdown of 121.875 can accelerate the pair towards 121.600- 121.484 support line.

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 volumes are decreasing in the positive zone.

Stochastic has left the oversold area and is pointed upwards, reflecting the high possibility of upward movement formation.

Support and resistance

Support levels: 122.102, 121.875, 121.600, 121.484.
Resistance levels: 122.266, 122.474, 122.656, 122.820.

Trading recommendations

Short positions can be opened below the level of 122.102 with the target at around 121.875 and stop-loss at 122.177.
Long positions can be opened above the level of 122.266 with the target at around 122.474 and stop-loss at 122.190.

 

[andy.atx]

USD/CHF: TECHNICAL ANALYSIS 21.01.20

Current trend
USD/CHF quotes attempted to grow, but reaching 0.96985 mark moved to a decline. Now the price has met the support at the 0.96713 level. If the sellers manage to decline the rate below this level, the downward dynamic can continue to the area of 0.96650 level (middle line of Bollinger bands). There is a chance of an upward rebound, while its breakdown would allow the fall to continue to 0.96436 support.
Alternative scenario
The upward rebound from 0.96713 support and pullback above 0.96840 will let the price retest 0.96985 resistance. The area of 0.96985-0.97046 resistance seems a key “bullish” target for the short-term period. The decisive break of 0.97046 is needed to indicate the upward trend resumption. In this case, the next targets of buyers will be the level of 0.97351.
Technical indicators
Technical indicators mostly maintain a buy signal.
Bollinger Bands are pointed upwards.
MACD is slowly growing in the positive zone.
Stochastic’s lines are pointed downwards and are reaching the oversold area. forming a sell signal.
Support and resistance
Support levels: 0.96741, 0.96650, 0.96436.
Resistance levels: 0.96840, 0.97046, 0.97351.
Trading recommendations
Short positions can be opened below the level of 0.96741 with the target at around 0.96650-0.96436 and stop-loss at 0.96842.
Long positions can be opened above the level of 0.96840 with the target at around 0.97046-0.97126 and stop-loss at 0.96744.

 

[andy.atx]

USD/CAD: TECHNICAL ANALYSIS 29.01.20

Current trend

USD/CAD is in the stage of upward correction after falling to the level of 1.31537, but the downward trend is still maintained. If the "bulls" manage to raise the rate above the level of 1.31683, the correction can continue to the area of 1.31836. This level seems a strong resistance which can activate a downward rebound. However, the decisive break of 1.31683 is needed to indicate uptrend resumption. In this case, the buyers will have their sights on the 1.31989-1.32141 area.

Alternative scenario

The downward trend will be restored after the price is set below the level of 1.31531. In this case scenario, the next targets of sellers will be the levels of 1.31378-1.31226.

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 volumes are decreasing in the positive zone.

Stochastic is in the oversold area and is pointed sideways, reflecting the relative calmness of the markets and sideways movement of the price.

Support and resistance

Support levels: 1.31531, 1.31378, 1.31226.
Resistance levels: 1.31683, 1.31836, 1.31989.

Trading recommendations

Short positions can be opened below the level of 1.31531 with the target at around 1.31378-1.31226 and stop-loss at 1.31631.
Long positions can be opened above the level of 1.31683 with the target at around 1.31836-1.31989 and stop-loss at 1.31583.

 

[andy.atx]

USD/CHF: TECHNICAL ANALYSIS 11.02.20

Current trend

On the 4-hour chart, the instrument is correcting up from the 0.97656 support and is trying to consolidate above the resistance level of 0.97809. The pair’s sustained trading above this level will give a prospect of growth to 0.97961. This level can prevent the instrument from growing, as the possibility of the reverse of the price is high there. However, the decisive breakout of 0.97961 could trigger a pair' fresh run-up to a local high surrounding 0.98291.

Alternative scenario

The downward rebound from 0.97809 resistance and pullback below 0.97778 could lead the price back to 0.97656-0.97615 support. This area can activate an upward rebound, while its breakdown would be a signal for downward trend formation and let the price fall to the area of 0.97504-0.97351.

Technical indicators

Technical indicators maintain a buy signal.

Bollinger Bands are pointed upwards.

MACD is growing in a positive zone.

Stochastic is pointed upwards, reflecting the high possibility of upward movement formation.

Support and resistance

Support levels: 0.97656, 0.97504, 0.97351.
Resistance levels: 0.97809, 0.97961, 0.98291.

Trading recommendations

Short positions can be opened below the level of 0.97615 with the target at around 0.97351 and stop-loss at 0.97703.
Long positions can be opened above the level of 0.97809 with the target at around 0.97961-0.98100 and stop-loss at 0.97710.

 

[andy.atx]

AUD/USD: TECHNICAL ANALYSIS 17.02.20

Current trend

The AUD/USD pair begins today’s trading with slight bullish bias, trying to consolidate above the resistance level of 0.67291. Assuming the pair’s ability to cross this mark, the area of 0.67444-0.67492 can be targeted if holding long positions. This area can activate a downward rebound as the possibility of the reverse of the price is high there. However, the decisive break of 0.67492 is needed to indicate the upward trend resumption. In this case, the buyers will aim for the 0.67596-0.67749 resistance.

Alternative scenario

The downward rebound from 0.67291 resistance could lead the price to 0.67139-0.67086 support. One may speak about downward movement continuation after the price consolidates below the 0.67000 level. In this case, the next targets of sellers will be the level of 0.66833-0.66681.

Technical indicators

Technical indicators maintain a buy signal.

Bollinger Bands are diverging on the background of bullish momentum.

MACD is growing in a positive zone.

Stochastic is pointed upwards, reflecting the high possibility of upward movement formation.

Support and resistance

Support levels: 0.67139, 0.66986, 0.66833, 0.66681.
Resistance levels: 0.67291, 0.67444, 0.67492, 0.67596.

Trading recommendations

Long positions can be opened above the level of 0.67300 with the target at around 0.67444-0.67596 and stop-loss at 0.67200.
Short positions can be opened below the level of 0.67000 with the target at around 0.66833-0.66681 and stop-loss at 0.67100.

 

[andy.atx]

EUR/JPY: TECHNICAL ANALYSIS 26.02.20

Current trend

On the 4-hour chart, the instrument is correcting up from the lower line of the Bollinger Bands. The next strong resistance on the way up will be 120.313-120.357 level. There is a chance of a downward rebound, while its breakout would allow the growth to continue to the area of 120.703 resistance.

Alternative scenario

The pullback below 119.860 will be a sign of downward correction development and let the price return to 119.531 support-line. The decisive breakdown of this level is needed to indicate the downward trend resumption. In this case, the next key targets of sellers will be the level of 119.141.

Technical indicators

The technical picture is mixed.

Bollinger Bands are pointed downwards.

MACD is growing in the negative zone.

Stochastic is pointed upwards, reflecting the high possibility of upward movement formation.

Support and resistance

Support levels: 119.922, 119.531, 119.141.
Resistance levels: 120.313, 120.703, 121.094.

Trading recommendations

Short positions can be opened below the level of 119.860 with the target at around 119.531 and stop-loss at 119.969.
Long positions can be opened above the level of 120.357 with the target at around 120.703 and stop-loss at 120.241.

 

[andy.atx]

EUR/USD: TECHNICAL ANALYSIS 27.02.20

Current trend

On the 4-hour chart, the instrument keeps a positive dynamic. At the moment the pair has met the resistance at the level of 1.09140. Assuming the pair’s ability to cross this level, the mark of 1.09253 can be targeted if holding long positions. This level seems an important resistance-line to watch in the short-term period. There is a chance of a downward rebound, while its breakout would accelerate the growth to the area of 1.09406.

Alternative scenario

The pullback below 1.08948 support will be a sign of downward correction development and give a prospect of decline to 1.08795 level. The downward trend will be restored after the price is set below the level of 1.08643, which almost coincided with the middle line of Bollinger Bands. In this case, the next targets of sellers will be the level of 1.08490-1.08337.

Technical indicators

Technical indicators maintain a buy signal.

Bollinger Bands are diverging on the background of bullish momentum.

MACD is growing in a positive zone.

Stochastic is pointed upwards, reflecting the high possibility of upward movement formation.

Support and resistance

Support levels: 1.08948, 1.08795,1.08643, 1.08490.
Resistance levels: 1.09100, 1.09253, 1.09406.

Trading recommendations

Short positions can be opened below the level of 1.08948 with the target at around 1.08948-1.08643 and stop-loss at 1.09040.
Long positions can be opened above the level of 1.09140 with the target at around 1.09253-1.09406 and stop-loss at 1.09050.