XAU/USD: technical analysis 18.07.2019

XAU/USD: technical analysis 18.07.2019

Current trend

XAU/USD quotes attempted to grow, but reaching 1419.50 mark moved to a downward correction. The instrument is now testing the support level of 1421.88 (Murray [8/8]). Assuming the pair’s ability to cross 1421.88 level, the mark of 1417.97 (Murray [7/8]) can be targeted if holding short positions. If the instrument cannot consolidate below the level of 1421.88 during short term period, then it can retest the resistance level of 1429.50. Meanwhile, any attempted recovery seems more likely to get sold into aggressively near the 1425.78 (Murray [+1/8])-1429.69 (Murray [+2/8]) region. Technical indicators mostly reflect the maintenance of the downward potential, , but the upward correction is not excluded. Bollinger Bands are diverging, reflecting the active development of the downward trend. Stochastic has left the overbought area and is pointed downwards, reflecting the high possibility of the downward movement formation. MACD histogram is in the positive zone keeping a signal for the opening of long positions.

Support and resistance

Support levels: 1421.88, 1417.97, 1414.06.
Resistance levels: 1425.78, 1429.69, 1431.17.

Trading recommendations

Short positions can be opened below the level of 1409.40 with the target at around 1406.25 and stop-loss 1410.70.
Long positions can be opened above the level of 1425.78 with the target at around 1429.69 and stop-loss 1424.40.

USD/JPY: technical analysis 17.07.2019

USD/JPY: technical analysis 17.07.2019

Current trend

USD/JPY quotes attempted to grow, but reaching 108.371 mark moved to a downward correction. The first target of the correction is the level of 108.062, which corresponds to the middle line of Bollinger Bands. There is a high chance of an upward rebound, while its breakdown would allow the fall to continue to the area of 107.813 (Murray [0/8]). If the “bulls” manage to raise the rate above the level of 108.322, the upward movement can continue to the area of 108.398 (Murray [3/8]), that holds the gate for its rise to 108.594 (Murray [4/8]) resistance-line. Technical indicators mostly reflect the moderate maintenance of the downward trend. Bollinger Bands are converging, on the background of bearish movement. Stochastic’s lines are pointed downwards. MACD volumes are decreasing in the negative zone, showing the growth of buyers’ moods.

Support and resistance

Support levels: 108.203, 108.008, 107.813, 107.617.
Resistance levels: 108.398, 108.594, 108.789.

Trading recommendations

Short positions can be opened below the level of 108.203 with the target at around 108.008 and stop-loss 108.270.
Long positions can be opened above the level of 108.398 with the target at around 108.594 and stop-loss 108.340.

AUD/USD: technical analysis 17.07.2019

AUD/USD: technical analysis 17.07.2019

Current trend

On 4-hour chart, the instrument shows a negative dynamic. The price went down above the middle line of Bollinger Bands and can fall further to the level of 0.70038 (Murray [7/8]). Assuming the pair’s ability to cross 0.70014 level, the mark of 0.69885 (Murray [6/8]) can be targeted if holding short positions. If the “bulls” manage to raise the rate above the level of 0.70190 (Murray [8/8]),which coincided with the middle line of Bollinger Bands, the correction can continue to the area of 0.70343 (Murray [+1/8]). The technical picture is mixed. Bollinger Bands are converging on the background of bearish movement. MACD volumes are decreasing in the negative zone. Stochastic has left the oversold area and is pointed upwards, reflecting the high possibility of the upward movement formation.

Support and resistance

Support levels: 0.70038, 0.69885, 0.69733.
Resistance levels: 0.70190, 0.70343, 0.70496.

Trading recommendations

Short positions can be opened below the level of 0.70038 with the target at around 0.69885 and stop-loss 0.70088.
Long positions can be opened above the level of 0.70190 with the target at around 0.70343 and stop-loss 0.70145.

GBP/USD: technical analysis 17.07.2019

GBP/USD: technical analysis 17.07.2019

Current trend

The GBP/USD pair begins today’s trading with slight bullish bias on the background of upward correction. At the moment the price has met the resistance at the level of 1.24207 (Murray [-1/8]). If the “bulls” manage to raise the rate above this level, the correction can continue to the area of 1.24512 (Murray [0/8]). There is a chance of an downward rebound, while its breakout would allow the raise to continue to the area of 1.24702. A significant decrease is possible after the breakdown of the level 1.23901 (Murray [-2/8]). In this case, the next targets of sellers will be the area of level 1.23657. Technical indicators mostly keep a sell signal, but the upward correction is possible in the short term. Bollinger Bands are diverging, reflecting the active development of the current trend. The volumes of MACD histogram are growing in the negative zone. Stochastic has left the oversold area and is pointed upwards, reflecting the high possibility of the upward movement formation.

Support and resistance

Support levels: 1.23901, 1.23800, 1.23657.
Resistance levels: 1.24207, 1.24512, 1.24702.

Trading recommendations

Short positions can be opened below the level of 1.23901 with the target at around 1.23800-1.12657 and stop-loss 1.23970.
Long positions can be opened above the level of 1.24207 with the target at around 1.24512 and stop-loss 1.24107.

USD/CHF: technical analysis 16.07.2019

USD/CHF: technical analysis 16.07.2019

Current trend

The USD/CHF pair begins today’s trading with slight bullish bias, but reaching 0.98541 mark moved to a downward correction. If the sellers manage to decline the rate below the level of 0.98419 (Murray [1/8]), the downward movement can continue to the area of 0.98267 (Murray [0/8]). The level of 0.98267 seem tough support as break of which can diver market to 0.98114 (Murray [-1/8]) rest-points. Should prices continue slipping under 0.98114 mark, the level of 0.97961 (Murray [-2/8]) might try activating a upward rebound. Alternatively, pullback above the level of 0.98572 (Murray [2/8]) will let the price to grow to the area of 0.98724 (Murray [3/8]). The technical picture is mixed. Bollinger Bands are directed down. MACD volumes are decreasing in the negative zone. Stochastic is in the overbought zone and is pointed upwards.

Support and resistance

Support levels: 0.98419, 0.98267, 0.98114, 0.97961.
Resistance levels: 0.98572, 0.98724, 0.98877, 0.99030.

Trading recommendations

Short positions can be opened below the level of 0.98419 with the target at around 0.98267 and stop-loss 0.98470.
Long positions can be opened above the level of 0.98572 with the target at around 0.98724 and stop-loss 0.98521.

USD/CAD: technical analysis 16.07.2019

USD/CAD: technical analysis 16.07.2019

Current trend

USD/CAD is in the stage of downward correction after raising to the level of 1.30580. The price is approaching a support in the region of 1.30463 (Murray [3/8]). Assuming the pair’s ability to cross 1.30463 mark, the levels of 1.30360-1.30310 (Murray [3/8]) can be targeted if holding short positions. The upward trend will be restored after the price is set above the level of 1.30615 (Murray [4/8]). In this case, the next targets of buyers will be the level of 1.30768 (Murray [5/8]). The technical picture is mixed. Bollinger Bands are converging on the background of bearish momentum. MACD volumes are decreasing in the negative zone. Stochastic is in the oversold zone and is pointed sideways.

Support and resistance

Support levels: 1.30463, 1.30310, 1.30157.
Resistance levels: 1.30615, 1.30768, 1.30920.

Trading recommendations

Short positions can be opened below the level of 1.30463 with the target at around 1.30310 and stop-loss 1.31510.
Long positions can be opened above the level of 1.30615 with the target at around 1.30768 and stop-loss 1.30564.

EUR/USD: technical analysis 16.07.2019

EUR/USD: technical analysis 16.07.2019

Current trend

On the 4-hour chart, EUR/USD pair continues to consolidate in the side channel with the borders 1.12594-1.12627. If the “bulls” manage to raise the rate above the level of 1.12705, the correction can continue to the area of 1.12831, 1.12915. The level of 1.12915 can prevent the instrument form growing, as the possibility of the reverse of the price is high there. Meanwhile, the breakout of 1.12915 (Murray [2/8]) can accelerate the pair towards 1.13220 (Murray [3/8]). The downward trend will be restored after the price is set below the level of 1.12475. In this case, the next targets of sellers will be the level of 1.12305 (Murray [0/8]), which seem a key level for the sellers in short term period. There is a high chance of an upward rebound, while its breakdown would allow the fall to continue to the area of 1.12152. Now the technical indicators reflect the low trading activity and moderate developing of the current sideway trend. Bollinger Bands are pointed sideways. MACD volumes are in the positive zone and are moving along the zero line. Stochastic has left the oversold area and is pointed upwards, reflecting the high possibility of the upward movement formation.

Support and resistance

Support levels: 1.12475, 1.12305, 1.12152.
Resistance levels: 1.12610, 1.12705, 1.12831.

Trading recommendations

Short positions can be opened below the level of 1.12475 with the target at around 1.12305 and stop-loss 1.12525.
Long positions can be opened above the level of 1.12705 with the target at around 1.12831 and stop-loss 1.12665.

USD/JPY: technical analysis 15.07.2019

USD/JPY: technical analysis 15.07.2019

Current trend

The USD/JPY pair begins today’s trading with slight bullish bias within the correction. Now the price is trying to consolidate above the resistance level of 108.00 (Murray [1/8]). If the “bulls” manage to raise the rate above the level of 108.20 (Murray [2/8]), the correction can continue to the area of level 108.39 (Murray [3/8]). If USD/JPY cannot consolidate above the level of 108.00 during short term period, the downward movement restoration and retest of the level 107.81 (Murray [0/8]) are possible. One may speak about downward movement continuation after the price consolidates below the support level of 107.81. In this case, the next targets of sellers will be the level of 107.61 (Murray [1/8])-107.42 (Murray [-2/8]). Technical indicators mostly keep a sell signal, but the upward correction is possible in the short term. Bollinger Bands are pointed downwards. MACD is slowly growing in the negative zone. Stochastic has left the oversold area and is pointed upwards, reflecting the high possibility of the upward movement formation.

Support and resistance

Support levels: 108.00, 107.81, 107.61, 107.42.
Resistance levels: 108.20, 108.39, 108.59, 108.78.

Trading recommendations

Short positions can be opened below the level of 107.81 with the target at around 107.61-107.42 and stop-loss 107.94.
Long positions can be opened above the level of 108.20 with the target at around 108.39-108.59 and stop-loss 108.07.

NZD/USD: technical analysis 15.07.2019

NZD/USD: technical analysis 15.07.2019

Current trend

On the 4-hour chart, the instrument is growing along the upper line of the Bollinger Bands. The price went up above the level of 0.6713 (Murray [8/8]) and can grow further to the area of 0.6729 (Murray [+1/8]) and 0.6744 (Murray [+2/8]). This area may activate an downward rebound. If the “bulls” manage to decline the rate below the level of 0.6713 (Murray [8/8]), the downward movement can continue to the area of 0.6698 (Murray [7/8])-0.6683 (Murray [6/8]). Technical indicators reflect the maintenance of the current upward potential. Bollinger Bands are pointed upwards. The volumes of MACD histogram are growing in the positive zone. Stochastic is in the overbought zone and is pointed sideways.

Support and resistance

Support levels: 0.6713, 0.6698, 0.6683, 0.6668.
Resistance levels: 0.6729, 0.6744, 0.6763, 0.6795.

Trading recommendations

Long positions can be above the level of 0.6722 with the target at around 0.6744-0.6763 and stop-loss 0.6702.
Short positions can be opened below the level of 0.6713 with the target at around 0.6698-0.6683 and stop-loss 0.6723.

XAU/USD: technical analysis 15.07.2019

XAU/USD: technical analysis 15.07.2019

Current trend

XAU/USD quotes attempted to grow, but reaching 1419.56 mark moved to a downward correction. The first target of the correction is the level of 1409.40, which corresponds to the middle line of Bollinger Bands. Pair’s sustained trading below this level will let XAU/USD fall to the level of 1406.25 (Murray [4/8]), which is the key level for the sellers in short term period. There is a chance of an upward rebound, while its breakdown would allow the fall to continue to the level of 1398.44 (Murray [3/8]). The upward trend will be restored after the price is set above the level of 1421.88 (Murray [6/8]). In this case, the next targets of buyers will be the level of 1427.09. The technical picture is mixed. Bollinger Bands are pointed upwards. MACD is slowly decreasing in the positive zone. Stochastic has left the overbought area and is pointed downwards, reflecting the high possibility of the downward movement formation.

Support and resistance

Support levels: 1409.40, 1406.25, 1398.44.
Resistance levels: 1414.06, 1419.56, 1421.88.

Trading recommendations

Short positions can be opened below the level of 1409.40 with the target at around 1406.25 and stop-loss 1410.70.
Long positions can be opened above the level of 1419.56 with the target at around 1421.88 and stop-loss 1418.80.