USD/CAD: technical analysis 23.05.2019

USD/CAD: technical analysis 23.05.2019

Current trend

On 4-hour chart, the instrument shows a positive dynamic. The price went up above the level of middle line of Bollinger Bands 1.3427 (Murray [4/8]) and can grow further to the levels of 1.3458 (Murray [5/8]). Assuming the pair’s ability to cross 1.3458 mark, the level of 1.3488 can be targeted if holding long positions. The downward trend will be restored after the price is set below the level of 1.3421, which is the middle line of Bollinger Bands. Additionally, pair’s sustained trading below this level could set the levels of 1.3397-1.3366 as next sellers target. Technical indicators reflect the maintenance of the upward potential. Bollinger Bands are diverging, reflecting the active development of the current trend. MACD histogram is ready to enter the positive zone and form a buy signal. Stochastic is in the overbought area and is pointed sideways.

Support and resistance

Support levels: 1.3427, 1.3397, 1.3366.
Resistance levels: 1.3458, 1.3488, 1.3519.

Trading recommendations

Long positions can be opened above the level of 1.3458 with the target at around 1.3488-1.3519 and stop-loss 1.3438.
Short positions can be opened below the level of 1.3421 with the target at around 1.3397-1.3366 and stop-loss 1.3432.

NZD/USD: technical analysis 23.05.2019

NZD/USD: technical analysis 23.05.2019

Current trend

On the 4-hour chart, the instrument is falling along the lower line of the Bollinger Bands. Now the price is slightly corrected upwards, but the downward trend still maintains. The first target of the correction is the level of 0.6515 (Murray [3/8]), which corresponds to the middle line of Bollinger Bands. The level of 0.6500 might offer intermediate halt during the raise to correction’s target. The downward trend will be restored after the price is set below the level of 0.6485 (Murray [1/8]). In this case, the next targets of sellers will be the area of 0.6469 (Murray [0/8])-0.6439 (Murray [-2/8]). Technical indicators maintain a sell signal. Bollinger Bands are pointed downwards. MACD histogram is in the negative zone keeping a signal for the opening of sell positions. Stochastic is in the oversold area and is pointed sideways.

Support and resistance

Support levels: 0.6485, 0.6469, 0.6454, 0.6439.
Resistance levels: 0.6500, 0.6515, 0.6530, 0.6546.

Trading recommendations

Short positions can be opened below the level of 0.6485 with the target at around 0.6469-0.6439 and stop-loss 0.6503.
Long positions can be above the level of 0.6500 with the target at around 0.6515, 0.6530 and stop-loss 0.6490.

XAU/USD: technical analysis 23.05.2019

XAU/USD: technical analysis 23.05.2019

Current trend

XAU/USD price continues to consolidate in the side channel after a significant decline over the last week. The instrument is now testing the support level of 1273.44 (Murray [2/8]). If the price is set below this level, the downward trend can restore, and the instrument can retest the support level of 1269.53 (Murray [1/8]). There is a high chance of an upward rebound from the level if 1269.53, while its breakdown can diver market to 1265.63 (Murray [0/8]) support zone. Pullback above 1274.74 (middle line of Bollinger Bands) could lead the price back to the 1277.34 (Murray [3/8]) level. Technical picture is mixed. Bollinger Bands are pointed downwards. MACD histogram is in the negative zone keeping a signal for the opening of sell positions. Stochastic’s lines are pointed downwards and are reaching the oversold area.

Support and resistance

Support levels: 1273.44, 1269.53, 1265.63.
Resistance levels: 1274.74, 1277.34, 1281.25.

Trading recommendations

Short positions can be opened below the level of 1273.44 with the target at around 1269.53 and stop-loss 1274.44.
Long positions can be opened above the level of 1274.74 with the target at around 1277.34 and stop-loss 1273.90.

AUD/USD: technical analysis 22.05.2019

AUD/USD: technical analysis 22.05.2019

Current trend

On 4-hour chart, the instrument shows a negative dynamic. The price has tested the support level of 0.6866 (Murray [1/8]) and was slightly corrected upwards, but the downward trend still maintains. One may speak about downward movement continuation after the price consolidates below the support level of 0.6866. In this case, the sellers will aim for the level of 0.6835 (Murray [0/8])-0.6805 (Murray [-1/8]) support zone. If the “bulls” manage to raise the rate above the level of 0.6897 (Murray [2/8]), the correction can continue to the area of 0.6927 (Murray [3/8])-0.6958 (Murray [4/8]). Technical indicators mostly reflect the moderate maintenance of the current downward trend. Bollinger Bands are pointed downwards. MACD histogram is in the negative zone keeping a signal for the opening of sell positions. Stochastic has left the oversold area and is pointed upwards, reflecting the possibility of the upward movement formation.

Support and resistance

Support levels: 0.6866, 0.6835, 0.6805, 0.6774.
Resistance levels: 0.6897, 0.6927, 0.6958, 0.6988.

Trading recommendations

Short positions can be opened below the level of 0.6866 with the target at around 0.6835-0.6805 and stop-loss 0.6886.
Long positions can be opened above the level of 0.6897 with the target at around 0.6927-0.6958 and stop-loss 0.6878.

GBP/USD: technical analysis 22.05.2019

GBP/USD: technical analysis 22.05.2019

Current trend

The price has tested the support level of 1.2696 and was slightly corrected upwards, but the general downward trend maintains. A significant decrease is possible after the breakdown of the level 1.2695. In this case, the next targets of sellers will be the area of levels of 1.2634 (Murray [-1/8])-1.2573 (Murray [-2/8]). This area can prevent the instrument from falling, as the possibility of the reverse of the price is high there. Alternatively, pullback above the level of 1.2730 (middle line of Bollinger Bands) will let GBP/USD raise to the level of 1.2756 (Murray [1/8]), that holds the gate for its rise to 1.2817 (Murray [2/8]) resistance-line. Technical indicators mostly reflect the moderate maintenance of the current downward trend. Bollinger Bands are pointed downwards. Stochactic is ready to enter the negative zone and is pointed downwards. MACD volumes are slowly decreasing in the negative zone.

Support and resistance

Support levels: 1.2695, 1.2634, 1.2573.
Resistance levels: 1.2730, 1.2756, 1.2817, 1.2878.

Trading recommendations

Short positions can be opened below the level of 1.2695 with the target at around 1.2634-1.2573 and stop-loss 1.2716.
Long positions can be opened above the level of 1.2730 with the target at around 1.2756-1.2817 and stop-loss 1.2709.

USD/JPY: technical analysis 22.05.2019

USD/JPY: technical analysis 22.05.2019

Current trend

The USD/JPY pair begins today’s trading with slight bearish bias. The instrument is now testing the support level of 110.35 (Murray [5/8]). If the “bears” manage to decline the rate below the level of 110.35, the fall can continue to the area of 110.15 (Murray [4/8]), which coincided with the middle line of Bollinger Bands. The level of 110.15 seem strong support as break of which can diver market to 109.96 (Murray [3/8])-109.57 (Murray [1/8]) support-zone. If USD/JPY cannot consolidate below the level of 110.15, the upward trend restoration and retest of the level 110.66 are possible. Assuming the pair’s ability to cross 110.66, the levels of 110.93 (Murray [8/8]) and the 111.13 (Murray [+1/8]) can be targeted if holding long positions. Technical indicators mostly keep a buy signal, but the downward correction is possible in the short term. Bollinger Bands are pointed upwards. MACD volumes are slowly decreasing in the positive zone. Stochastic is pointed downwards.

Support and resistance

Support levels: 110.35, 110.15, 109.96, 109.76.
Resistance levels: 110.54, 110.74, 110.93, 111.13.

Trading recommendations

Short positions can be opened below the level of 110.35 with the target at around 110.15-109.96 and stop-loss 110.48.
Long positions can be opened above the level of 110.66 with the target at around 110.93-111.13 and stop-loss 110.48.

EUR/USD: technical analysis 21.05.2019

EUR/USD: technical analysis 21.05.2019

Current trend

The EURUSD pair begins today’s trading with slight bearish bias on its way to the key support line 1.1138 (Murray [-2/8]). There is a high chance of an upward rebound from the level of 1.1138, while its breakdown would allow the fall to continue. Additionally, pair’s sustained trading below the 1.1138 could set 1.1123 and 1.1109 on sellers radar. Pullback above 1.1169 (Murray [0/8]),which is the middle line of Bollinger Bands, could lead the price to the 1.1184 (Murray [1/8]) and 1.1215 (Murray [3/8]) level. Technical indicators reflect the maintenance of the downward potential. Bollinger Bands are pointed downwards. MACD histogram is in the negative zone keeping a signal for the opening of sell positions. Stochastic’s lines are pointed downwards.

Support and resistance

Support levels: 1.1154, 1.1138, 1.1123, 1.1109.
Resistance levels: 1.1169, 1.1184, 1.1200, 1.1215.

Trading recommendations

Short positions can be opened below the level of 1.1154 with the target at around 1.1138-1.1109 and stop-loss 1.1139.
Long positions can be opened above the level of 1.1169 with the target at around 1.1200-1.1215 and stop-loss 1.1155.

USD/CAD: technical analysis 21.05.2019

USD/CAD: technical analysis 21.05.2019

Current trend

On 4-hour chart, USD/CAD price has tested the support level of 1.3415 and was slightly corrected upwards. Now the instrument is trying to consolidate above the strong resistance level of 1.3427 (Murray [0/8]). If the price is set above the level of 1.3427, the correction can continue to the area of the resistance level 1.3445, which coincided with the middle line of Bollinger Bands. The upward trend will be restored after the price is set above the level of 1.3445. In this case, the buyers will aim for the 1.3458 (Murray [2/8])-1.3488 (Murray [3/8]) resistance-zone. If the instrument cannot consolidate above the level of 1.3427 during short-term period, the falling to the area of the level of 1.3397 (Murray [-1/8]) can develop. Technical picture is mixed. Bollinger Bands are pointed downwards. MACD histogram is in the negative zone keeping a signal for the opening of sell positions. Stochastic is pointed upwards.

Support and resistance

Support levels: 1.3458, 1.3427, 1.3397, 1.3366.
Resistance levels: 1.3488, 1.3519, 1.3549, 1.3580.

Trading recommendations

Short positions can be opened below the level of 1.3415 with the target at around 1.3397-1.3366 and stop-loss 1.3428.
Long positions can be opened above the level of 1.3445 with the target at around 1.3488 and stop-loss 1.3431.

USD/CHF: technical analysis 21.05.2019

USD/CHF: technical analysis 21.05.2019

Current trend

USD/CHF price is restoring after the fall to the level of 1.0079. The price went up above the level of middle line of Bollinger Bands 1.0101 (Murray [3/8]) and can grow further to the level of 1.0131 (Murray [4/8]). Probably, any attempted recovery seems more likely to get sold into aggressively near the 1.0131 region, while its breakout would allow the raise to continue to the level of 1.0162 (Murray [5/8]). The downward trend will be restored after the price is set below the level of 1.0090. In this case, the next targets of sellers will be the area of 1.0070 (Murray [2/8])-1.0040 (Murray [1/8]). Technical indicators mostly keep a buy signal. Bollinger Bands and Stochastic are pointed upwards. MACD histogram is ready to enter the positive zone.

Support and resistance

Support levels: 1.0101, 1.0070, 1.0040, 1.0009.
Resistance levels: 1.0131, 1.0162, 1.0192.

Trading recommendations

Long positions can be opened above the level of 1.0101 with the target at around 1.0131-1.0162 and stop-loss 1.0081.
Short positions can be opened below the level of 1.0090 with the target at around 1.0070-1.0040 and stop-loss 1.0106.

NZD/USD: technical analysis 20.05.2019

NZD/USD: technical analysis 20.05.2019

Current trend

NZD/USD is in the stage of upward correction after falling to the level of 0.6513. The first target of the correction is the level of 0.6544 , which corresponds to the middle line of Bollinger Bands. If the “bulls” manage to raise the rate above the level of 0.6544, the correction can continue to the area of 0.6561 (Murray [7/8])-0.6591 (Murray [8/8]). The downward trend will be restored after the price is set below the level of 0.6513. In this case, the next targets of sellers will be the area of 0.6500 (Murray [5/8])-0.6469 (Murray [4/8]). Technical picture is mixed. Bollinger Bands are pointed downwards. MACD volumes are decreasing in the negative zone. Stochastic’s lines are pointed upwards.

Support and resistance

Support levels: 0.6530, 0.6500, 0.6469.
Resistance levels: 0.6561, 0.6591, 0.6622.

Trading recommendations

Short positions can be opened below the level of 0.6513 with the target at around 0.6469 and stop-loss 0.6527.
Long positions can be above the level of 0.6544 with the target at around 0.6591 and stop-loss 0.6530.