Atirox.com - Daily Analysis

[andy.atx]

USD/JPY: TECHNICAL ANALYSIS 26.06.20

Current trend

On the 4-hour chart, the instrument keeps a moderate negative dynamic amid the downward correction. The price is approaching strong support in the region of 107.031. There is a high chance of an upward rebound, while its breakdown would allow the fall to continue to the area of 106.813 support-line, which coincided with the middle line of Bollinger Bands. This zone can prevent the instrument from falling, as the possibility of the reverse of the price is high there. Meanwhile, the breakdown of 106.800 and the pair’s sustained trading below it could pop-up 106.641-106.514 as the next seller's targets.

Alternative scenario

The upward rebound from 107.081 and pullback above 107.243 will be a sign of the upward movement resumption and let the price re-test the yesterday's high at 107.449. As a strong resistance, this level can stop the upward dynamic. However, the decisive breakout of 107.449 is needed to indicate the upward trend resumption. In this case, the sellers will aim for the 107.617-107.813 resistance-area.

Technical indicators

Technical indicators maintain a sell signal.

Bollinger Bands are diverging on the background of bearish momentum.

MACD is growing in a positive zone.

Stochastic’s lines are pointed downwards and are reaching the oversold area.

Support and resistance

Support levels: 107.031, 106.836, 106.641.
Resistance levels: 107.227, 107.449, 107.617, 107.813.

Trading recommendations

Short positions can be opened below the level of 107.031 with the target at around 106.730 and stop-loss at 107.131.
Long positions can be opened above the level of 107.227 with the target at around 107.500 and stop-loss at 107.136.

 

[andy.atx]

NZD/USD: TECHNICAL ANALYSIS 29.06.20

Current trend

NZD/USD is in the stage of upward correction after falling to the level of 0.64015. At the moment the price has met the resistance at 0.64351 level, which coincided with the middle line of Bollinger Bands. As the key target of the correction, this mark can activate a downward reverse of the price. Meanwhile, the breakout of this level and pair are sustained above 0.64500 will be a signal of the upward trend resumption and give a prospect of the growth to the area of 0.64697-0.64800.

Alternative scenario

The downward rebound from 0.64392 and pullback below 0.64179 will be a sign of the downward movement resumption and let the price re-test the 0.64087-0.64015 support area. One may speak about downward movement continuation after the price consolidates below the support level of 0.63934. In this case, the sellers will aim for the 0.63782-0.63650.

Technical indicators

Technical indicators mostly keep a sell signal, but the upward correction is possible in the short term.

Bollinger Bands are converging on the background of bullish momentum.

MACD is growing in a positive zone.

Stochastic is pointed downwards.

Support and resistance

Support levels: 0.64087, 0.63934, 0.63782.
Resistance levels: 0.64392, 0.64545, 0.64697.

Trading recommendations

Short positions can be opened below the level of 0.64000 with the target at around 0.63934-0.63782 and stop-loss at 0.64072.
Long positions can be opened above the level of 0.64392 with the target at around 0.64650 and stop-loss at 0.64306.

 

[andy.atx]

USD/CAD: TECHNICAL ANALYSIS 30.06.20

Current trend

USD/CAD is in the stage of consolidation in the side channel 1.36511-1.36705 after significant growth over the last week. The lower border of this channel coincides with the middle line of Bollinger Bands. The breakdown of this level and pair’s sustained trading below the 1.36414 will be a signal of the downward trend resumption and let the price decline to the area of 1.36108 level.

Alternative scenario

If the instrument cannot consolidate below the level of 1.36511 during the short-term period, the price can reverse and retest the resistance level of 1.36719. The decisive break of this mark is needed to indicate the upward trend resumption. In this case, the next targets of buyers will be the level of 1.37024.

Technical indicators

Technical indicators reflect the maintenance of the downward potential.

Bollinger Bands are diverging on the background of bearish momentum.

MACD volumes are decreasing in the positive zone.

Stochastic’s lines are pointed downwards and are reaching the oversold area.

Support and resistance

Support levels: 1.36414, 1.36108, 1.35803.
Resistance levels: 1.36719, 1.37024, 1.37329.

Trading recommendations

Short positions can be opened below the level of 1.36414 with the target at around 1.36108 and stop-loss at 1.36510.
Long positions can be opened above the level of 1.36719 with the target at around 1.37024 and stop-loss at 1.36615.

 

[andy.atx]

EUR / USD: TECHNICAL ANALYSIS 07/08/20

Current trend

On a 4-hour chart, the instrument is trading below the middle line of Bollinger Bands suggesting bearish momentum. The first strong support area for the pair is located at 1.12647-1.12584.
The breakdown of the lower border will be a signal of the downward trend resumption and give a prospect of decline to the area of 1.12305-1.12253.

Alternative scenario

If the "bulls" manage to raise the rate above the level of 1.12821, the correction can continue to the area of 1.12915-1.12980. One may speak about upward movement continuation after the price consolidates above the resistance level of 1.13064. In this case, the buyers will aim for the 1.13220-1.13452 area.

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 bullish momentum.

MACD volumes are decreasing in the positive zone.

Stochastic’s lines are pointed downwards and are reaching the oversold area.

Support and resistance

Support levels: 1.12610, 1.12305, 1.12000.
Resistance levels: 1.12915, 1.13220, 1.13452.

Trading recommendations

Short positions can be opened below the level of 1.12600 with the target at around 1.12305 and stop-loss at 1.12695.
Long positions can be opened above the level of1.13064 with the target at around 1.13220-1.13350 and stop-loss at 1.12968.

 

[andy.atx]

NZD/USD: TECHNICAL ANALYSIS 22.07.20

Current trend

On the 4-hour chart, the instrument has tested the level of 0.66494 but cannot break through it. Now we can see a sideway dynamic of the price in the range 0.66343-0.66494. If the sellers manage to decline the rate below the level of 0.66340, the correction can continue to the area of 0.66223. This level can stop the downward movement and activate an upward rebound of the price. Meanwhile, the decisive breakdown of 0.66220 is needed to indicate the downward trend resumption. In this case, the sellers will aim for the 0.65918 level, which seems a key mark for the sellers in the short-term period.

Alternative scenario

If the price cannot consolidate below the level of 0.66343 during the short-term period, the price can reverse and retest the support level of 0.66494. One may speak about upward movement continuation after the price consolidates above the resistance level of 0.66528. In this case, the buyers will aim for the 0.66800 level.

Technical indicators

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

Bollinger Bands are pointed upwards.

MACD is growing in a 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: 0.66223, 0.65918, 0.65613.
Resistance levels: 0.55528, 0.66800, 0.67100.

Trading recommendations

Short positions can be opened below the level of 0.66223 with the target at around 0.65918 and stop-loss at 0.66324.
Long positions can be opened above the level of 0.66528 with the target at around 0.66800 and stop-loss at 0.66437.

 

[andy.atx]

NZD/USD: TECHNICAL ANALYSIS 27.07.20

Current trend

On a 4-hour chart, The price has tested the resistance level of 0.66804 and was slightly corrected downwards, but the general upward trend still maintains. The main target of downward the correction is the level of 0.66528 which coincided with the middle line of Bollinger Bands. As the key target of the correction, this level can prevent the instrument from falling. However, the breakdown of this level will be a signal of the downward trend resumption and let the price decline to the area of 0.66223.

Alternative scenario

If the "bulls" manage to raise the rate above the level of 0.66833, the growth can continue to the area of 0.67139. This level can prevent the instrument from growing, as the possibility of the reverse of the price is high there. Meanwhile, the decisive breakout of this level will be a signal of the upward trend resumption. In this case, the buyers will aim for the 0.67444 resistance.

Technical indicators

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

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 the upward movement formation.

Support and resistance

Support levels: 0.66528, 0.66223, 0.65918.
Resistance levels: 0.66833, 0.67139, 0.67444.

Trading recommendations

Short positions can be opened below the level of 0.66528 with the target at around 0.66223 and stop-loss at 0.66625.
Long positions can be opened above the level of 0.66833 with the target at around 0.67139 and stop-loss at 0.66731.

 

[andy.atx]

USD/CAD: TECHNICAL ANALYSIS 28.07.20

Current trend

On the 4-hour chart, the instrument is correcting up from the lower line of the Bollinger Bands. The price went up above the level of 1.33667 and can grow further to the area of 1.33900-1.34033, which corresponds to the middle line of Bollinger Bands. There is a chance of a downward rebound, while the breakout of the upper border would allow the growth to continue to the area of 1.34277-1.34373.

Alternative scenario

The downward rebound from the middle line of Bollinger Bands could lead the price back to 1.33667 level. Additionally, pair’s sustained trading below this level will let the price re-test today's low at 1.33303. This level seems a strong support, which can activate an upward reverse of the price. Meanwhile, the decisive breakdown of this level can accelerate the plunge towards 1.33000 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 bullish momentum.

MACD volumes are decreasing in the negative zone.

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

Support and resistance

Support levels: 1.33667, 1.33303, 1.33000.
Resistance levels: 1.34033, 1.34277, 1.34500.

Trading recommendations

Short positions can be opened below the level of 1.33600 with the target at around 1.33300 and stop-loss at 1.33700.
Long positions can be opened above the level of 1.34033 with the target at around 1.34300 and stop-loss at 1.33944.

 

[andy.atx]

NZD/USD: TECHNICAL ANALYSIS 04.08.20

Current trend

NZD/USD quotes attempted to grow, but reaching 0.66236 mark moved to a downward correction. If the sellers manage to decline the rate below the level of 0.66043, the correction can continue to the area of 0.65918. Should prices continue slipping under this level, the mark of 0.65740, might try activating an upward rebound. One may speak about downward movement continuation after the price consolidates below the support level of 0.65613. In this case, the next targets of sellers will be the level of 0.65308.

Alternative scenario

If the instrument cannot consolidate below the level of 0.66000, it will begin to grow to the area of 0.66226 resistance. The breakout of this level will give a prospect of growth to the area of 0.66416-0.66528 (the middle line of Bollinger Bands). As a strong resistance area, this zone can prevent the instrument from growing. However, the decisive breakout of 0.66528 is needed to indicate the upward trend resumption. In this case, the buyers will aim for the 0.66833 level.

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 is growing in the negative zone.

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

Support and resistance

Support levels: 0.65918, 0.65613, 0.65308.
Resistance levels: 0.66236, 0.66528, 0.66833.

Trading recommendations

Short positions can be opened below the level of 0.65740 with the target at around 0.65450 and stop-loss at 0.65836.
Long positions can be opened above the level of 0.66236 with the target at around 0.66528 and stop-loss at 0.66138.