2018-09-20
Overview:
The EUR/USD pair broke resistance which turned to strong support at the level of 1.1681 yesterday. The level of 1.1681 coincides with a golden ratio (61.8% of Fibonacci), which is expected to act as major support today. The Relative Strength Index (RSI) is considered overbought because it is above 70. The RSI is still signaling that the trend is upward as it is still strong above the moving average (100). This suggests the pair will probably go up in coming hours. Accordingly, the market is likely to show signs of a bullish trend. In other words, buy orders are recommended above 1.1681 with the first target at the level of 1.1740. From this point, the pair is likely to begin an ascending movement to the point of 1.1740 and further to the level of 1.1767. The level of 1.1767 will act as strong resistance on the H1 chart. On the other hand, if a breakout happens at the support level of 1.1657, then this scenario may become invalidated.
Technical analysis of USD/CHF for September 20, 2018
2018-09-20
The EUR/USD pair broke resistance which turned to strong support at the level of 1.1681 yesterday. The level of 1.1681 coincides with a golden ratio (61.8% of Fibonacci), which is expected to act as major support today. The Relative Strength Index (RSI) is considered overbought because it is above 70. The RSI is still signaling that the trend is upward as it is still strong above the moving average (100). This suggests the pair will probably go up in coming hours. Accordingly, the market is likely to show signs of a bullish trend. In other words, buy orders are recommended above 1.1681 with the first target at the level of 1.1740. From this point, the pair is likely to begin an ascending movement to the point of 1.1740 and further to the level of 1.1767. The level of 1.1767 will act as strong resistance on the H1 chart. On the other hand, if a breakout happens at the support level of 1.1657, then this scenario may become invalidated.
Technical analysis of USD/CHF for September 20, 2018
2018-09-20
Overview:
The market is still trading above the pivot point (0.9689). It continued to move downwards from the level of 0.9689 to the bottom around 0.9651. Today, the first resistance level is seen at 0.9728 followed by 0.9776, while daily support 1 is seen at 0.9651. The USD/CHF pair broke support which turned to strong resistance at 0.9776. Right now, the pair is trading below this level. It is likely to trade in a lower range as long as it remains below the support (0.9698) which is expected to act as major support today. This would suggest a bearish market because the moving average (100) is still in a negative area and does not show any signs of a trend reversal at the moment. Amid the previous events, the USD/CHF pair is still moving between the levels of 0.9689 and 0.9600, so we expect a range of 89 pips in coming hours. Therefore, the major resistance can be found at 0.9728 providing a clear signal to sell with a target seen at 0.9651. If the trend breaks the minor support at 0.9651, the pair will move downwards continuing the bearish trend development to the level of 0.9600 in order to test the daily support 2. Overall, we still prefer the bearish scenario which suggests that the pair will stay below the spot of 0.9728.
Technical analysis of USD/CAD for September 20, 2018
2018-09-20
The market is still trading above the pivot point (0.9689). It continued to move downwards from the level of 0.9689 to the bottom around 0.9651. Today, the first resistance level is seen at 0.9728 followed by 0.9776, while daily support 1 is seen at 0.9651. The USD/CHF pair broke support which turned to strong resistance at 0.9776. Right now, the pair is trading below this level. It is likely to trade in a lower range as long as it remains below the support (0.9698) which is expected to act as major support today. This would suggest a bearish market because the moving average (100) is still in a negative area and does not show any signs of a trend reversal at the moment. Amid the previous events, the USD/CHF pair is still moving between the levels of 0.9689 and 0.9600, so we expect a range of 89 pips in coming hours. Therefore, the major resistance can be found at 0.9728 providing a clear signal to sell with a target seen at 0.9651. If the trend breaks the minor support at 0.9651, the pair will move downwards continuing the bearish trend development to the level of 0.9600 in order to test the daily support 2. Overall, we still prefer the bearish scenario which suggests that the pair will stay below the spot of 0.9728.
Technical analysis of USD/CAD for September 20, 2018
2018-09-20
Overview:
The USD/CAD pair has faced strong resistances at the levels of 1.2969 because support had become resistance on September 17, 2018. So, the strong resistance had already formed at the level of 1.2969 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 1.2969, the market will indicate a bearish opportunity below the new strong resistance level of 1.2969 (the level of 1.2969 coincides with the daily pivot point). Moreover, the RSI starts signaling a downward trend, as the trend is still showing strength above the moving average (50). Thus, the market is indicating a bearish opportunity below 1.2969 so it will be good to sell at 1.2969 with the first target of 0.9965. It will also call for a downtrend in order to continue towards 1.2796. The daily strong support is seen at 1.2796. 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 1.3057.
Technical analysis of AUD/USD for September 20, 2018
2018-09-20
The USD/CAD pair has faced strong resistances at the levels of 1.2969 because support had become resistance on September 17, 2018. So, the strong resistance had already formed at the level of 1.2969 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 1.2969, the market will indicate a bearish opportunity below the new strong resistance level of 1.2969 (the level of 1.2969 coincides with the daily pivot point). Moreover, the RSI starts signaling a downward trend, as the trend is still showing strength above the moving average (50). Thus, the market is indicating a bearish opportunity below 1.2969 so it will be good to sell at 1.2969 with the first target of 0.9965. It will also call for a downtrend in order to continue towards 1.2796. The daily strong support is seen at 1.2796. 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 1.3057.
Technical analysis of AUD/USD for September 20, 2018
2018-09-20
Overview:
The AUD/USD pair will be probably continue to rise from the level of 0.7233 in the long term. It should be noted that the support is established at the level of 0.7233 which represents the 508% Fibonacci retracement level on the H4 chart. The price is likely to form a double bottom in the same time frame. Accordingly, the AUD/USD pair is showing signs of strength following a breakout of the highest level of 0.7260. So, buy above the level of 0.7260 with the first target at 0.7309 in order to test the daily resistance 1 and further to 0.7346. Also, it might be noted that the level of 0.7379 is a good place to take profit because it will form a double top. On the other hand, in case a reversal takes place and the AUD/USD pair breaks through the support level of 0.7233, a further decline to 0.7153 can occur which would indicate a bearish market.
The AUD/USD pair will be probably continue to rise from the level of 0.7233 in the long term. It should be noted that the support is established at the level of 0.7233 which represents the 508% Fibonacci retracement level on the H4 chart. The price is likely to form a double bottom in the same time frame. Accordingly, the AUD/USD pair is showing signs of strength following a breakout of the highest level of 0.7260. So, buy above the level of 0.7260 with the first target at 0.7309 in order to test the daily resistance 1 and further to 0.7346. Also, it might be noted that the level of 0.7379 is a good place to take profit because it will form a double top. On the other hand, in case a reversal takes place and the AUD/USD pair breaks through the support level of 0.7233, a further decline to 0.7153 can occur which would indicate a bearish market.
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