Technical analysis of NZD/USD for September 13, 2017
2017-09-13
NZD/USD is expected to trade with a bullish bias above 0.7255. Despite the recent pullback from 0.7320 (the high of September 12), the pair is still trading above the rising 50-period moving average. The relative strength index is mixed to bullish. The downside potential should be limited by the key support at 0.7255.
Hence, as long as this key level is not broken, look for a further rebound to 0.7340 and even to 0.7370 in extension.
The black line shows the pivot point. Currently, the price is above the pivot point, which indicates the bullish position. If it remains below the pivot point, it will indicate the short position. The red lines show the support levels and the green line indicates the resistance levels. These levels can be used to enter and exit trades.
Resistance levels: 0.7340, 0.7370, and 0.7415
Support levels: 0.7240, 0.7220, and 0.7200
Intraday technical levels and trading recommendations for EUR/USD for September 13, 2017
2017-09-13
Monthly Outlook
In January 2015, the EUR/USD pair moved below the major demand levels near 1.2050-1.2100 (multiple previous bottoms set in July 2012 and June 2010). Hence, a long-term bearish target was projected toward 0.9450.
In March 2015, EUR/USD bears challenged the monthly demand level around 1.0500, which had been previously reached in August 1997.
In the longer term, the level of 0.9450 remains a projected target if any monthly candlestick achieves bearish closure below the depicted monthly demand level of 1.0500.
However, the EUR/USD pair has been trapped within the depicted consolidation range (1.0500-1.1450) until the current bullish breakout was executed above 1.1450.
The current bullish breakout above 1.1450 allows a quick bullish advance towards 1.2100 where price action should be watched for evident bearish rejection and a valid SELL Entry.
Daily Outlook
In January 2017, the previous downtrend reversed when the Head and Shoulders pattern was established around 1.0500. Since then, evident bullish momentum has been expressed on the chart.
As anticipated, the ongoing bullish momentum allowed the EUR/USD pair to pursue further bullish advance towards 1.1415-1.1520 (Previous Daily Supply-Zone).
The daily supply zone failed to pause the ongoing bullish momentum. Instead, evident bullish breakout is being witnessed on the chart. The next Supply level to meet the pair is located around 1.2100 (Level of previous multiple bottoms) where bearish rejection and a valid SELL entry can be anticipated.
On the other hand, If bearish pullback persists below 1.1800 and 1.1700, the price zone of 1.1415-1.1520 can be watched for a valid BUY entry
NZD/USD Intraday technical levels and trading recommendations for September 13, 2017
2017-09-13
Daily Outlook
In February 2017, the depicted short-term downtrend was initiated around the depicted supply zone (0.7310-0.7380).
However, a recent bullish breakout above the downtrend line took place on May 22. Since then, the market has been bullish as depicted on the chart.
The price zone of 0.7150-0.7230 (Key-Zone) stood as a temporary resistance zone until a bullish breakout was expressed above 0.7230.
This resulted in a quick bullish advance towards the next supply zone around 0.7310-0.7380 which was temporarily breached to the upside.
Recent bearish pullback was executed towards the price zone of 0.7310-0.7380 (newly-established demand-zone) which failed to offer enough bullish support for the NZD/USD pair.
Re-consolidation below the price level of 0.7300 enhances the bearish side of the market. This brings the NZD/USD pair again towards 0.7230-0.7150 (Key-Zone) where recent weak bullish recovery was manifested earlier in September.
An atypical Head and Shoulders pattern is being expressed on the depicted chart indicating high probability of bearish reversal.
The current price levels of 0.7320-0.7350 can be watched for a valid SELL entry if enough bearish rejection is expressed.
Breakdown of the neckline 0.7150 confirms the reversal pattern. Expected bearish targets are located around 0.7050, 0.6925 and eventually 0.6800.
Technical analysis of GBP/JPY for September 13, 2017
2017-09-13
All our targets which we posted in our targets have been hit. The pair remains supported by its rising trend line on an intraday basis. The 20-period moving average is heading upward, and should continue to push the prices higher. Moreover, the relative strength index is bullish, and calls for further upside.
In which case, above 145.25, look for further advance to 146.65 and 147.30 in extension.
Alternatively, if the price moves in the direction opposite to the forecast, a short position is recommended below 145.25 with the target at 144.80.
Strategy: BUY, Stop Loss: 145.25, Take Profit: 146.65.
Chart Explanation: the black line shows th-e pivot point. The price above the pivot point indicates the bullish position; and when it is below the pivot points, it indicates a short position. The red lines show the support levels and the green line indicates the resistance levels. These levels can be used to enter and exit trades.
Resistance levels: 146.65, 147.30, and 147.80
Support levels: 144.80 144.20, and 143.55
Technical analysis of USD/CHF for September 13, 2017
2017-09-13
2017-09-13
NZD/USD is expected to trade with a bullish bias above 0.7255. Despite the recent pullback from 0.7320 (the high of September 12), the pair is still trading above the rising 50-period moving average. The relative strength index is mixed to bullish. The downside potential should be limited by the key support at 0.7255.
Hence, as long as this key level is not broken, look for a further rebound to 0.7340 and even to 0.7370 in extension.
The black line shows the pivot point. Currently, the price is above the pivot point, which indicates the bullish position. If it remains below the pivot point, it will indicate the short position. The red lines show the support levels and the green line indicates the resistance levels. These levels can be used to enter and exit trades.
Resistance levels: 0.7340, 0.7370, and 0.7415
Support levels: 0.7240, 0.7220, and 0.7200
Intraday technical levels and trading recommendations for EUR/USD for September 13, 2017
2017-09-13
Monthly Outlook
In January 2015, the EUR/USD pair moved below the major demand levels near 1.2050-1.2100 (multiple previous bottoms set in July 2012 and June 2010). Hence, a long-term bearish target was projected toward 0.9450.
In March 2015, EUR/USD bears challenged the monthly demand level around 1.0500, which had been previously reached in August 1997.
In the longer term, the level of 0.9450 remains a projected target if any monthly candlestick achieves bearish closure below the depicted monthly demand level of 1.0500.
However, the EUR/USD pair has been trapped within the depicted consolidation range (1.0500-1.1450) until the current bullish breakout was executed above 1.1450.
The current bullish breakout above 1.1450 allows a quick bullish advance towards 1.2100 where price action should be watched for evident bearish rejection and a valid SELL Entry.
Daily Outlook
In January 2017, the previous downtrend reversed when the Head and Shoulders pattern was established around 1.0500. Since then, evident bullish momentum has been expressed on the chart.
As anticipated, the ongoing bullish momentum allowed the EUR/USD pair to pursue further bullish advance towards 1.1415-1.1520 (Previous Daily Supply-Zone).
The daily supply zone failed to pause the ongoing bullish momentum. Instead, evident bullish breakout is being witnessed on the chart. The next Supply level to meet the pair is located around 1.2100 (Level of previous multiple bottoms) where bearish rejection and a valid SELL entry can be anticipated.
On the other hand, If bearish pullback persists below 1.1800 and 1.1700, the price zone of 1.1415-1.1520 can be watched for a valid BUY entry
NZD/USD Intraday technical levels and trading recommendations for September 13, 2017
2017-09-13
Daily Outlook
In February 2017, the depicted short-term downtrend was initiated around the depicted supply zone (0.7310-0.7380).
However, a recent bullish breakout above the downtrend line took place on May 22. Since then, the market has been bullish as depicted on the chart.
The price zone of 0.7150-0.7230 (Key-Zone) stood as a temporary resistance zone until a bullish breakout was expressed above 0.7230.
This resulted in a quick bullish advance towards the next supply zone around 0.7310-0.7380 which was temporarily breached to the upside.
Recent bearish pullback was executed towards the price zone of 0.7310-0.7380 (newly-established demand-zone) which failed to offer enough bullish support for the NZD/USD pair.
Re-consolidation below the price level of 0.7300 enhances the bearish side of the market. This brings the NZD/USD pair again towards 0.7230-0.7150 (Key-Zone) where recent weak bullish recovery was manifested earlier in September.
An atypical Head and Shoulders pattern is being expressed on the depicted chart indicating high probability of bearish reversal.
The current price levels of 0.7320-0.7350 can be watched for a valid SELL entry if enough bearish rejection is expressed.
Breakdown of the neckline 0.7150 confirms the reversal pattern. Expected bearish targets are located around 0.7050, 0.6925 and eventually 0.6800.
Technical analysis of GBP/JPY for September 13, 2017
2017-09-13
All our targets which we posted in our targets have been hit. The pair remains supported by its rising trend line on an intraday basis. The 20-period moving average is heading upward, and should continue to push the prices higher. Moreover, the relative strength index is bullish, and calls for further upside.
In which case, above 145.25, look for further advance to 146.65 and 147.30 in extension.
Alternatively, if the price moves in the direction opposite to the forecast, a short position is recommended below 145.25 with the target at 144.80.
Strategy: BUY, Stop Loss: 145.25, Take Profit: 146.65.
Chart Explanation: the black line shows th-e pivot point. The price above the pivot point indicates the bullish position; and when it is below the pivot points, it indicates a short position. The red lines show the support levels and the green line indicates the resistance levels. These levels can be used to enter and exit trades.
Resistance levels: 146.65, 147.30, and 147.80
Support levels: 144.80 144.20, and 143.55
Technical analysis of USD/CHF for September 13, 2017
2017-09-13
Overview:
The USD/CHF pair has faced strong resistances at the levels of 0.9596 because support had become resistance on the H4 chart. So, the first resistance has been already formed at the level of 0.9596 and the pair is likely to try to approach it in order to test it again. However, if the pair fails to pass through the level of 0.9596, the market will indicate a bearish opportunity below the new strong resistance level of 0.9596 (the level of 0.9596 coincides with a ratio of 50% Fibonacci). Moreover, the RSI starts signaling a downward trend, as the trend is still showing strength above the moving average (100) and (50). Thus, the market is indicating a bearish opportunity below 0.9596 so it will be good to sell at 0.9596 with the first target of 0.9554. It will also call for a downtrend in order to continue towards 0.9503. The daily strong support is seen at 0.9503. On the other hand, the stop loss should always be taken into account, for that it will be reasonable to set your stop loss at the level of 0.9638.
Technical analysis of NZD/USD for September 13, 2017
2017-09-13
Overview:
The NZD/USD pair is moving in the bullish trend from the support levels of 0.7231 and 0.7293. Right now, the price is in a bullish channel. This is confirmed by the RSI indicator signaling that it is still in a bullish trending market. As the price is still above the moving average (100), immediate support is seen at 0.7293, which coincides with a golden ratio (38.2% of Fibonacci). Hence, the first support is set at the level of 0.7293. So, the market is likely to show signs of a bullish trend around the spot of 0.7293. In other words, buy orders are recommended above the price of 0.7293 with the first target at the level of 0.7343. Furthermore, if the trend is able to breakout through the first resistance level of 0.7343. Moreover, the pair could climb towards the double top (0.7393). It would also be wise to consider where to place a stop loss; this should be set below the second support of 0.7230.
Technical analysis of USD/CHF for September 13, 2017
2017-09-13
Our initial target in our previous analysis has been hit. USD/CHF is expected to continue the upside movement. The pair recorded higher tops and higher bottoms since September 8, which confirmed a positive outlook. The rising 50-period moving average suggests that the prices have potential for a further upside. The relative strength index lacks downward momentum.
US dollar gained modestly yesterday after its biggest downward rally in nearly eight months as investors are waiting for important data due to announced today.
Investors are also waiting for US inflation data due to be announced today at 12:30 GMT, it is expected that the producer price index will have increased to 0.3% in August against the -0.1% in July and Core PPI is expected to come out at 0.2% as compared to -0.1% previously.
Therefore, as long as 0.9570 is support, expect a new challenge to 0.9630 and even to 0.9655 in extension.
Chart Explanation: The black line shows the pivot point. The present price above the pivot point indicates a bullish position, and the price below the pivot points indicates a short position. The red lines show the support levels and the green line indicates the resistance levels. These levels can be used to enter and exit trades.
Strategy: BUY, Stop Loss: 0.9570, Take Profit: 0.9630
Resistance levels: 0.9630, 0.9655, and 0.9700
Support levels: 0.9545, 0.9510, and 0.9460
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