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XAU/USD: technical analysis 27.08.2019

XAUUSDH427082019-1024x576.png

Current trend

XAU/USD continues to consolidate in the narrow side channel after a significant raise over the past two trading days. If the โ€œbullsโ€ manage to raise the rate above the level of 1531.25 (Murray [2/8]), the upward movement can continue to the area of 1537.18, which can activate an doward rebound. The downward trend will be restored after the price is set below the level of 1526.52. In this case, the next targets of sellers will be the level of 1518.00, 1515.63 (Murray [1/8]), which coincided with the middle line of Bollinger Bands. Technical picture is mixed. Bollinger Bands are pointed sideways. MACD volumes are slowly decreasing in the positive zone. Stochastic is in the oversold zone and is pointed sideways.

Support and resistance

Support levels: 1526.52, 1518.00, 1515.63.
Resistance levels: 1531.25, 1537.18, 1544.09.

Trading recommendations

Short positions can be opened below the level of 1526.52 with the target at around 1518.00 and stop-loss 1528.00.
Long positions can be opened above the level of 1531.25 with the target at around 1537.18 and stop-loss 1529.00.

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NZD/USD: technical analysis 27.08.2019

NZDUSDH427082019-1024x576.png

Current trend

The NZD/USD pair begins todayโ€™s trading with slight bearish bias. The price went down below the level of 0.63782 (the middle line of Bollinger Bands) and can fall further to the levels of 0.63629 (Murray [1/8]). There is a chance of an upward correction, while its breakdown would allow the fall to continue to the level of 0.63477 (Murray [0/8]), which seem a key level for the sellers in short term period. Alternative scenario. Pullback and pairโ€™ sustained trading above the level of 0.63782 will let the price to grow to the area of 0.63934 (Murray [3/8]). Technical indicators mostly reflect the moderate maintenance of the current downard trend. Bollinger Bands are pointed downwards. MACD is slowly growing in the negative zone. Stochastic is pointed downwards.

Support and resistance

Support levels: 0.63629, 0.63477, 0.63400.
Resistance levels: 0.63782, 0.63934, 0.64087.

Trading recommendations

Short positions can be opened below the level of 0.63629 with the target at around 0.63477 and stop-loss 0.63679.
Long positions can be opened above the level of 0.63782 with the target at around 0.63934 and stop-loss 0.63731.

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AUD/USD: technical analysis 28.08.2019

AUDUSDH428082019.png

Current trend

On 4-hour chart, the instrument shows a negative dynamic. The price went down below the level of 0.67444 (Murray [2/8]) and can fall further to the levels of 0.67291 (Murray [1/8]). A significant decrease is possible after the breakdown of the level 0.67291, which can develop to the levels of 0.67190, 0.67139 (Murray [0/8]). Alternative scenario. Pullback and pairโ€™s sustained trading above the level of 0.67444 (Murray [2/8]) will let the price to grow to the area of 0.67528 the middle line of Bollinger Bands. The breakout of 0.67528 can accelerate the pair towards 0.67596 (Murray [3/8]) resistance. Technical indicators reflect the moderate maintenance of the current downward trend. Bollinger Bands are diverging in the background of bearish momentum. MACD histogram is in the negative zone keeping a signal for the opening of sell positions. Stochastic is in the oversold zone and is pointed sideways.

Support and resistance

Support levels: 0.67291, 0.67190, 0.67139.
Resistance levels: 0.67444, 0.67528, 0.67596.

Trading recommendations

Short positions can be opened below the level of 0.67291 with the target at around 0.67190 โ€“ 0.67139 and stop-loss 0.67341.
Long positions can be opened above the level of 0.67444 with the target at around 0.67528-0.67596 and stop-loss 0.67393.

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USD/JPY: technical analysis 28.08.2019

USDJPYH428082019.png

Current trend

USD/JPY continues to consolidate in the side channel with the boreders 105.690-105.888. There is a slight upward dynamic but the price is still trading below middle line of Bollinger suggesting bearish momentum. If the โ€œbullsโ€ manage to raise the rate above the level of 105.859 (Murray [7/8]), the upward correction can continue to the area of 106.066-106.145. The key level for the buyers is the 106.250 (Murray [8/8]) mark. Hence, any attempted raise seems more likely to get sold into aggressively near the 106.250-106.413 region. If USD/JPY cannot consolidate above the level of 105.859 during short term period, the downward trend restoration and retest of the level 105.647 are possible. Should prices continue slipping under 105.647 mark, the level of 105.469 (Murray [6/8]) might try activating an upward rebound. The technical picture is mixed. Bollinger Bands are converging on the background of bearish momentum. MACD volumes are in the negative zone and are moving along the zero line. Stochasticโ€™s lines are pointed upwards.

Support and resistance

Support levels: 105.647, 105.469, 105.273.
Resistance levels: 105.859, 106.066, 106.145, 106.250.

Trading recommendations

Long positions can be opened above the level of 105.859 with the target at around 106.066-106.145 and stop-loss 105.763.
Short positions can be opened below the level of 105.647 with the target at around 105.469-105.273 and stop-loss 105.771.

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GBP/USD: technical analysis 28.08.2019

GBPUSDH428082019.png

Current trend

The GBP/USD pair begins todayโ€™s trading with slight bearish bias due to downward correction. The first support level for the pair is the level if of 1.22681 (Murray [+1/8]). If the sellers manage to decline the rate below this level, the correction can continue to the area of 1.22530, which coincided with 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 1.22375. The upward trend will be restored after the price is set above the level of 1.23091 (yesterdayโ€™s high). In this case, the next targets of sellers will be the level of 1.23291 (Murray [+2/8]). The technical picture is mixed. Bollinger Bands are pointed sideways. The volumes of MACD histogram are growing 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: 1.22681, 1.22530, 1.22375, 1.22070.
Resistance levels: 1.23091, 1.23291, 1.23452.

Trading recommendations

Short positions can be opened below the level of 1.22681 with the target at around 1.22530-1.22375 and stop-loss 1.22783.
Long positions can be opened above the level of 1.23091 with the target at around 1.23291-1.23452 and stop-loss 1.22970.

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USD/CHF: technical analysis 29.08.2019

USDCHFH429082019.png

Current trend

The USD/CHF pair begins todayโ€™s trading with slight bearish bias. At the moment the price has met the support at the level of 0.97994, which is the middle line of Bollinger Bands. The breakdown and consolidation of the price below the level of 0.97994 will let USD/CHF reach the level of 0.97813. Assuming the pairโ€™s ability to cross 0.97813 mark, the level of 0.97656 (Murray [0/8]) can be targeted if holding short positions. If the instrument cannot consolidate below the level of 0.97994 during short term period, it will begin to grow to the area of 0.98239-0.98267 (Murray [2/8]). The area of 0.98239-0.98267 can prevent the instrument form growing, as the possibility of the reverse of the price is high there. Meanwhile, the breakout of 0.98267 can accelerate the pair towards 0.98445 mark. Technical indicators mostly reflect the moderate maintenance of the current downward trend. Bollinger Bands are converging on the background of bearish momentum. MACD volumes are slowly decreasing in the positive zone. Stochasticโ€™s lines are pointed downwards and are reaching the oversold area.

Support and resistance

Support levels: 0.97961, 0.97813, 0.97656.
Resistance levels: 0.98085, 0.98239, 0.98445.

Trading recommendations

Short positions can be opened below the level of 0.97994 with the target at around 0.97656 and stop-loss 0.98095.
Long positions can be opened above the level of 0.98239 with the target at around 0.98445 and stop-loss 0.98170.

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USD/CAD: technical analysis 29.08.2019

USDCADH429082019.png

Current trend

On 4-hour chart, the instrument shows a positive dynamic. If the current trend maintains the next targets of buyers will be the level of 1.33209 (Murray [5/8]), that can prevent the instrument form growing, as the possibility of the downard rebound of the price is high there. In case the pair manage to cross the 1.33209 hurdle the raise may continue to the level of 1.33362 (Murray [6/8]).
Alternative scenario.
Pullbacks below 1.33057 level could lead the price to the 1.32904 (Murray [3/8]) level. The breakdown and pairโ€™ sustained trading below this level will let the price fall to the 1.32751 (Murray [2/8]) mark.
Technical indicators reflect the moderate maintenance of the current upward trend. Bollinger Bands are diverging on the background of bullish momentum. MACD is slowly growing in the positive zone. Stochasticโ€™s lines are pointed upwards and are reaching the overbought area.

Support and resistance

Support levels: 1.33057, 1.32904, 1.32751.
Resistance levels: 1.33209, 1.33362, 1.33514.

Trading recommendations

Long positions can be opened above the level of 1.33209 with the target at around 1.33362 and stop-loss 1.33107.
Short positions can be opened below the level of 1.33057 with the target at around 1.32904-1.32751 and stop-loss 1.33159

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EUR/USD: technical analysis 29.08.2019

EURUSDH429082019.png

Current trend

EUR/USD continues to consolidate in the side channel 1.10761-1.10864. In order to continue the downward movement, itโ€™s necessary to consolidate below 1.10761 level. In this case, the next targets of sellers will be the level of 1.10626 (Murray [2/8]). The level of 1.10626 seem a strong key level which can activate an upward rebound. Meanwhile, pairโ€™s sustained trading below this level could be a signal for downward trend forming. If the โ€œbullsโ€ manage to raise the rate above the level of 1.10864, the correction can continue to the area of 1.11000-1.11084 (Murray [4/8]). Technical picture is mixed. Bollinger Bands are slightly leaned downwards, reflecting the moderate developing of the downward trend. 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: 1.10761, 1.10626, 1.10528.
Resistance levels: 1.10864, 1.10931, 1.11084.

Trading recommendations

Short positions can be opened below the level of 1.10761 with the target at around 1.10626-1.10528 and stop-loss 1.10838.
Long positions can be opened above the level of 1.10864 with the target at around 1.11000-1.11084 and stop-loss 1.10790.

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USD/JPY: technical analysis 30.08.2019

USDJPYH430082019.png

Current trend

USD/JPY is in the stage of downward correction after rasing to the level of 106.641. If the current trend maintains the sellers will aim for the 106.250 (Murray [8/8]) support zone. There is a chance of an short-term upward rebound. Meanwhile pairโ€™s sustained trading below the 106.250 will let the price to fall to the area of 106.037 which is the middle line of Bollinger Bands. Alternative scenario. A rebound from the level of 106.250 and price consolidation above the level 106.641 (Murray [+1/8]) will let the price to grow to the area 106.782-107.031. The technical picture is mixed. Bollinger Bands are diverging on the background of bearish momentum. MACD histogram is in the positive zone keeping a signal for the opening of buy positions. Stochastic has left the overbought area and is pointed downwards, reflecting the high possibility of the downward movement formation.

Support and resistance

Support levels: 106.250, 106.037, 105.859.
Resistance levels: 106.641, 106.782, 107.031.

Trading recommendations

Short positions can be opened below the level of 106.250 with the target at around 106.037 and stop-loss 106.321.
Long positions can be opened above the level of 106.641 with the target at around 106.782-107.031 and stop-loss 106.511.

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XAU/USD: technical analysis 30.08.2019

XAUUSDH430082019.png

Current trend

XAU/USD is in the stage of upward correction after falling to the level of 1519.53, but the general downward trend is still maintained. Meanwhile 1526.58-1527.34 area could restrict further rise. The breakout of level 1527.34 can accelerate the pair towards 1531.25 (Murray [4/8]). The downward trend will be restored after the price is set below the level of 1523.44 (Murray [2/8]). In this case, the next targets of sellers will be the level of 1519.53 (Murray [1/8]). Now the technical indicators reflect the low trading activity and moderate developing of the general downward dynamic. Bollinger Bands and Stochasctic are pointed sideways. MACD volumes are decreasing in the positive zone.

Support and resistance

Support levels: 1523.44, 1519.53, 1515.63.
Resistance levels: 1527.34, 1531.25, 1537.18.

Trading recommendations

Short positions can be opened below the level of 1523.44 with the target at around 1519.53 and stop-loss 1524.70.
Long positions can be opened above the level of 1527.34 with the target at around 1531.25 and stop-loss 1526.00.

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NZD/USD: technical analysis 30.08.2019

NZDUSDH430082019.png

Current trend

NZD/USD quotes attempted to grow, but reaching 0.63467 mark moved to a decline. As part of a downtrend, the pair tested the mark of 0.62866 (Murray [-2/8]) that seem a key support level, which can activate a upward rebound.The downward trend will be restored after the price is set below the level of 0.62866. In this case, the next targets of sellers will be the level of 0.62666. If the โ€œbullsโ€ manage to raise the rate above the level of 0.63073, the correction can continue to the area of 0.63171 (Murray [-1/8]). Assuming the pairโ€™s ability to cross 0.63171 mark , the level of 0.63358 can be targeted if holding short positions. Technical indicators mostly keep a sell signal, but the upward correction is possible in the short term. Bollinger Bands are pointed downwards. The volumes of MACD histogram are growing in the negative zone. However, as the Stochastic is in the oversold area, and the price has broken the lower border of Bollinger Bands, the upward correction is not excluded.

Support and resistance

Support levels: 0.62866, 0.62666, 0.62500.
Resistance levels: 0.63073, 0.63171, 0.63358.

Trading recommendations

Short positions can be opened below the level of 0.62866 with the target at around 0.62666 and stop-loss 0.62932.
Long positions can be opened above the level of 0.63073 with the target at around 0.63171-0.63358 and stop-loss 0.62978.

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USD/CHF: technical analysis 02.09.2019

USDCHFH402092019.png

Current trend

On the 4-hour chart, the instrument is growing along the upper line of the Bollinger Bands. If the current trend maintains the next targets of buyers will be the level of 0.99182 (Murray [5/8]), which can prevent the instrument from growing, as the possibility of the reverse of the price is high there. The breakout of 0.99182 will let the price to grow to the area of 0.99323-0.99487 (Murray [6/8]).
Alternative scenario. The downward trend will be restored after the price is set below the level of 0.98877 (Murray [4/8]). In this case, the next targets of sellers will be the level of 0.98724 โ€“ 0.98572 (Murray [3/8]). Technical indicators mostly reflect the moderate maintenance of the current upward trend. Bollinger Bands are pointed upwards. The volumes of MACD histogram are growing in the positive zone. Stochasticโ€™s lines are pointed upwards.

Support and resistance

Support levels: 0.98877, 0.98724, 0.98572.
Resistance levels: 0.99182, 0.99323, 0.99487.

Trading recommendations

Short positions can be opened below the level of 0.98877 with the target at around 0.98724-0.98572 and stop-loss 0.98978.
Long positions can be opened above the level of 0.99182 with the target at around 0.99323 and stop-loss 0.99080.

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USD/CAD: technical analysis 02.09.2019

USDCADH402092019.png

Current trend

Today USD/CAD quotes attempted to grow, but reaching 1.33246 mark moved to a downward correction. This dynamic may continue after price is set below the level of 1.33120. In this case, the next targets of sellers will be the level of 1.33057 (Murray [4/8])-1.33000. Additionally, pairโ€™s sustained trading below the 1.33000 could set the levels of 1.32904-1.32851 as next sellers targets. The upward trend will be restored after the price is set above the level of 1.33246. In this case, the buyers will aim for the level of 1.33362 (Murray [6/8])-1.33514 (Murray [7/8]) level. Technical indicators reflect the moderate maintenance of the current upward trend. Bollinger Bands are pointed upwards. MACD is slowly growing in the positive zone. Stochasticis in the overbought area and is pointed sideways.

Support and resistance

Support levels: 1.33057, 1.32904, 1.32751.
Resistance levels: 1.33209, 1.33362, 1.33514.

Trading recommendations

Long positions can be opened above the level of 1.33246 with the target at around 1.33362-1.33514 and stop-loss 1.33156.
Short positions can be opened below the level of 1.33000 with the target at around 1.32904-1.32751 and stop-loss 1.33083.

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EUR/USD: technical analysis 02.09.2019

EURUSDH402092019.png

Current trend

EUR/USD is in the stage of upward correction after falling to the level of 1.09628. Now the price is trying to consolidate above the resistance level of 1.09863 level. If the โ€œbullsโ€ manage to raise the rate above the level of 1.09964, the correction can continue to the area of 1.10168 (Murray [1/8]). The area of 1.10168 can prevent the instrument from growing, as the possibility of the reverse of the price is high there. Meanwhile, the breakout of 1.10168 can accelerate the pair towards 1.10321-1.10474 (Murray [2/8]).
Alternative scenario. The downward trend will be restored after the price is set below the level of 1.09628. In this case, the next targets of sellers will be the level of 1.09253. Technical indicators mostly keep a sell signal, but the downward correction is possible in the short term. Bollinger Bands are diverging, reflecting the active development of the general downward trend. The volumes of MACD histogram are growing in the negative zone. Stochastic has left the oversols area and is pointed upwards, reflecting the high possibility of the upward movement formation.

Support and resistance

Support levels: 1.09863, 1.09628, 1.09253.
Resistance levels: 1.09964, 1.10168, 1.10321, 1.10474.

Trading recommendations

Short positions can be opened below the level of 1.09628 with the target at around 1.09253 and stop-loss 1.09988.
Long positions can be opened above the level of 1.09964 with the target at around 1.10168 and stop-loss 1.09896.

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USD/CAD: technical analysis 04.09.2019

USDCADH404092019.png

Current trend

The USD/CAD pair begins todayโ€™s trading with slight bearish bias. The price is approaching a support in the region of 1.33209 (Murray [5/8]), which coincided with the middle line of Bollinger Bands. Assuming the pairโ€™s ability to cross 1.33209 hurdle, the level of 1.33057 (Murray [4/8]) can be targeted if holding short positions. The level of 1.33057 seem a strong support level.There is a chance of an upward rebound, while its breakdown would allow the fall to continue to the area of 1.32904 (Murray [3/8]).
Alternative scenario.
If the โ€œbullsโ€ manage to raise the rate above the level of 1.33514 (Murray [7/8]), the raise can continue to the area of 1.33667 (Murray [8/8]), that holds the gate for its rise to 1.33820 (Murray [+1/8]) resistance-line. Technical picture is mixed. Bollinger Bands are pointed upwards. MACD volumes are decreasing in the positive zone. Stochasticis in the oversold area and is pointed downwards.

Support and resistance

Support levels: 1.33209, 1.33057, 1.32904.
Resistance levels: 1.33362, 1.33514, 1.33667, 1.33820.

Trading recommendations

Long positions can be opened above the level of 1.33514 with the target at around 1.33667-1.33820 and stop-loss 1.33412.
Short positions can be opened below the level of 1.33209 with the target at around 1.33057-1.32904 and stop-loss 1.33310

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XAU/USD: technical analysis 04.09.2019

XAUUSDH404092019-1.png

Current trend

XAU/USD is in the stage of downward correction after raising to the level of 1550.01. At the moment the price has met the support at the level of 1540.05. The breakout and consolidation of the price below this level will let XAU/USD reach the level of 1536.71-1531.25 (Murray [4/8]). The level of 1531.25 seem a key level for the sellers in short term period. There is a high chance of an upward rebound. One may speak about downward movement continuation after the price consolidates above the resistance level of 1546.88 (Murray [6/8]). In this case, the next targets of buyers will be the level of 1550.01. Assuming the pairโ€™s ability to cross 1550.01 mark, the level of 1554.69 can be targeted if holding long positions. Technical picture is mixed. Bollinger Bands are diverging on the background of general upward trend. MACD histogram is in the positive zone keeping a signal for the opening of buy positions. Stochastic has left the overbought area and is pointed downwards, reflecting the high possibility of the downward movement formation.

Support and resistance

Support levels: 1539.06, 1536.71, 1531.25.
Resistance levels: 1546.88, 1550.01, 1554.69.

Trading recommendations

Short positions can be opened below the level of 1539.06 with the target at around 1536.71 and stop-loss 1540.70.
Long positions can be opened above the level of 1546.88 with the target at around 1550.01 and stop-loss 1545.80.

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NZD/USD: technical analysis 04.09.2019

NZDUSDH40409201922.png

Current trend

On 4-hour chart, the instrument shows a positive dynamic. At the moment the price has met the resistance at the level of 0.63477 (Murray [4/8]), which seem a key level in short term period. The upward trend will be restored after the price is set above this level. In this case, the next targets of buyers will be the level of 0.63660-0.63782.
Alternative scenario. Pullbacks below 0.63280 and pairโ€™s sustained trading below this level will let NZD/USD fall to the level of 0.63171 (Murray [3/8]). Should prices continue slipping under 0.63171, the mark of 0.63040 (coincided with the middle line of Bollinger Bands) might try activating a upward rebound. Technical indicators mostly keep a buy signal, but the downward correction is possible in the short term. Bollinger Bands are diverging on the background of bullish momentum. MACD volumes are decreasing in the negative zone. Stochastic is in the oversbought area and is pointed sideways.

Support and resistance

Support levels: 0.63280, 0.63171, 0.63040.
Resistance levels: 0.63477, 0.63660, 0.63782.

Trading recommendations

Long positions can be opened above the level of 0.63477 with the target at around 0.63660-0.63782 and stop-loss 0.63375.
Short positions can be opened below the level of 0.63280 with the target at around 0.63171-0.63040 and stop-loss 0.63360.

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USD/CHF: technical analysis 05.09.2019

USDCHFH4050920192.png

Current trend

The USD/CHF pair begins todayโ€™s trading with slight bullish bias due to upward correction. The price went up above the resistance level of 0.98267 (Murray [2/8]) and can grow further to the levels of 0.98572 (Murray [3/8]). There is a chance of an downward rebound, while its breakout would allow the raise to continue to the area of 0.98734 (middle line of Bollinger Bands). Pullbacks below 0.98267 mark could lead the price to the 0.97995 support level. The downward trend will be restored after the price is set below the level of 0.97961 (Murray [1/8]). In this case, the next targets of sellers will be the level of 0.97775-0.97656 (Murray [0/8]). Technical indicators mostly reflect the moderate maintenance of the current upward ัorrection. Bollinger Bands are diverging on the background of bullish momentum. Stochastic has left the oversold area and is pointed upwards, reflecting the high possibility of the upward movement formation. MACD volumes are slowly decreasing in the negative zone.

Support and resistance

Support levels: 0.98267, 0.97961, 0.97656.
Resistance levels: 0.98572, 0.98734, 0.98877.

Trading recommendations

Long positions can be opened above the level of 0.98426 with the target at around 0.98572-0.98734 and stop-loss 0.98323.
Short positions can be opened below the level of 0.98267 with the target at around 0.97961 and stop-loss 0.98369.

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USD/CAD: technical analysis 05.09.2019

USDCADH405092019.png

Current trend

On the 4-hour chart, the instrument is falling along the lower line of the Bollinger Bands. The price is approaching a strong support in the region of 1.32141 (Murray [-2/8]). There is a chance of an upward rebound, while its breakdown would let the price the fall to the level of 1.32024-1.31923. Pullback above the level of 1.32294 (Murray [-1/8]) will let the price to grow to the area of 1.32446 (Murray [0/8]), that seem a strong resistance area. Meanwhile, pairโ€™s sustained trading above the level of 1.32446 could set the level of 1.32599 (Murray [1/8]) on buyersโ€™ radar. Technical indicators reflect the maintenance of the current downward trend. Bollinger Bands are diverging on the background of bearish momentum. MACD histogram is in the negative zone keeping a signal for the opening of sell positions. Stochastic is in the oversold zone and is pointed downwards.

Support and resistance

Support levels: 1.32141, 1.32024, 1.31923.
Resistance levels: 1.32294, 1.32446, 1.32599.

Trading recommendations

Long positions can be opened above the level of 1.32294 with the target at around 1.32446-1.32599 and stop-loss 1.32192.
Short positions can be opened below the level of 1.32141 with the target at around 1.32024-1.31923 and stop-loss 1.32213.

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EUR/USD: technical analysis 05.09.2019

EURUSDH405092019.png

Current trend

EUR/USD is in the stage of downward correction after raising to the level of 1.10389. If the sellers manage to decline the rate below the level of 1.10168, the correction can continue to the area of 1.09863 (Murray [4/8]), which is the middle line of Bollinger Bands. The upward trend will be restored after the price is set above the resistance level of 1.10474 (Murray [6/8]). In this case, the next targets of buyers will be the level of 1.10779 (Murray [7/8]). Technical indicators mostly keep a buy signal, but the downward correction is possible in the short term. Bollinger Bands are diverging on the background of bullish momentum. MACD volumes are decreasing in the negative zone. Stochastic is in the oversold zone and is pointed downwards, reflecting the high possibility of the downward movement formation.

Support and resistance

Support levels: 1.10168, 1.09863, 1.09558.
Resistance levels: 1.10474, 1.10779, 1.11084.

Trading recommendations

Short positions can be opened below the level of 1.10168 with the target at around 1.09863 and stop-loss 1.10268.
Long positions can be opened above the level of 1.10474 with the target at around 1.10779 and stop-loss 1.10374.

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