2018-09-12
Overview:
The NZD/USD pair continues to move downwards from the level of 0.6580. Yesterday, the pair dropped from the level of 0.6580 to the bottom around 0.6498. But the pair has rebounded from the bottom of 0.6498 to close at 0.6520. Today, the first support level is seen at 0.6452, the price is moving in a bearish channel now. Furthermore, the price has been set below the strong resistance at the level of 0.6580, which coincides with the 23.6% Fibonacci retracement level. This resistance has been rejected several times confirming the veracity of a downtrend. Additionally, the RSI starts signaling a downward trend. As a result, if the NZD/USD pair is able to break out the first support at 0.6452, the market will decline further to 0.6406 in order to test the weekly support 2. Consequently, the market is likely to show signs of a bearish trend. So, it will be good to sell below the level of 0.6539 with the first target at 0.6452 and further to 0.6406. However, stop loss is to be placed above the level of 0.6580.
Technical analysis of AUD/USD for September 12, 2018
2018-09-12
The NZD/USD pair continues to move downwards from the level of 0.6580. Yesterday, the pair dropped from the level of 0.6580 to the bottom around 0.6498. But the pair has rebounded from the bottom of 0.6498 to close at 0.6520. Today, the first support level is seen at 0.6452, the price is moving in a bearish channel now. Furthermore, the price has been set below the strong resistance at the level of 0.6580, which coincides with the 23.6% Fibonacci retracement level. This resistance has been rejected several times confirming the veracity of a downtrend. Additionally, the RSI starts signaling a downward trend. As a result, if the NZD/USD pair is able to break out the first support at 0.6452, the market will decline further to 0.6406 in order to test the weekly support 2. Consequently, the market is likely to show signs of a bearish trend. So, it will be good to sell below the level of 0.6539 with the first target at 0.6452 and further to 0.6406. However, stop loss is to be placed above the level of 0.6580.
Technical analysis of AUD/USD for September 12, 2018
2018-09-12
Overview:
Pivot point: 0.7143.
The AUD/USD pair fell from the level of 0.7186 towards 0.7100. Now, the price is set at 0.7123. On the H4 chart, the resistance is seen at the levels of 0.7186 and 0.7239. Volatility is very high for that the AUD/USD pair is still expected to be moving between 0.7143 and 0.7045 in coming hours. However, if the pair fails to pass through the level of 0.7143, the market will indicate a bearish opportunity below the level of 0.7143. So, the market will decline further to 0.7045 in order to return to the daily pivot point (0.7143). Moreover, a breakout of that target will move the pair further downwards to 0.7045. On the other hand, we expect the AUD/USD pair to continue to trade in a bullish trend from the new support level of 0.7045 to form a bullish channel in the long term. Besides, it should be noted that major resistance is seen at 0.7239, while immediate resistance is found at 0.7186. According to the previous events, the pair is likely to move from 0.7143 towards 0.7186 and 0.7240as targets.
GBP/USD analysis for September 12, 2018
2018-09-12
Recently, the GBP/USD pair has been trading downwards. As I expected, the price tested the level of 1.2964. According to the M30 time – frame, I found the breakout of the support trendline in the background, which is a sign that sellers are in control. I also found a hidden bearish divergence on the MACD oscillator and rejection of the resistance trendline, which is another sign of weakness. My advice is to watch for selling opportunities. The downward target is set at the price of 1.2920.
Pivot point: 0.7143.
The AUD/USD pair fell from the level of 0.7186 towards 0.7100. Now, the price is set at 0.7123. On the H4 chart, the resistance is seen at the levels of 0.7186 and 0.7239. Volatility is very high for that the AUD/USD pair is still expected to be moving between 0.7143 and 0.7045 in coming hours. However, if the pair fails to pass through the level of 0.7143, the market will indicate a bearish opportunity below the level of 0.7143. So, the market will decline further to 0.7045 in order to return to the daily pivot point (0.7143). Moreover, a breakout of that target will move the pair further downwards to 0.7045. On the other hand, we expect the AUD/USD pair to continue to trade in a bullish trend from the new support level of 0.7045 to form a bullish channel in the long term. Besides, it should be noted that major resistance is seen at 0.7239, while immediate resistance is found at 0.7186. According to the previous events, the pair is likely to move from 0.7143 towards 0.7186 and 0.7240as targets.
GBP/USD analysis for September 12, 2018
2018-09-12
Recently, the GBP/USD pair has been trading downwards. As I expected, the price tested the level of 1.2964. According to the M30 time – frame, I found the breakout of the support trendline in the background, which is a sign that sellers are in control. I also found a hidden bearish divergence on the MACD oscillator and rejection of the resistance trendline, which is another sign of weakness. My advice is to watch for selling opportunities. The downward target is set at the price of 1.2920.
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