Andy.atx Posted April 28, 2020 Report Share Posted April 28, 2020 NZD/USD: TECHNICAL ANALYSIS 28.04.20 Current trend On the 4-hour chart, the instrument keeps a negative dynamic. The price went down below the level of 0.60000 (middle line of Bollinger Bands) and can fall further to the level of 0.59814. This mark seems a key support-line, which can activate an upward rebound. Meanwhile, the decisive breakdown of 0.59814 is needed to indicate the downward trend resumption. In this case, the next targets of sellers will be the level of 0.59509. Alternative scenario If the instrument cannot consolidate below the level of 0.59814, the correction to the area of the level of 0.60000 (the middle line of Bollinger Bands) can develop. The pullback above the resistance level 0.60120 will confirm the upward trajectory and give a prospect of the growth to the area of 0.60425. Technical indicators Technical indicators maintain a sell signal. Bollinger Bands are converging on the background of bearish momentum. MACD volumes are decreasing in the positive zone. Stochastic’s lines are pointed downwards and are reaching the oversold area. Support and resistance Support levels: 0.59814, 0.59509, 0.59204. Resistance levels: 0.60120, 0.60425, 0.60730. Trading recommendations Short positions can be opened below the level of 0.59814 with the target at around 0.59509 and stop-loss at 0.59910. Long positions can be opened above the level of 0.60120 with the target at around 0.60425 and stop-loss at 0.60020. Link to comment Share on other sites More sharing options...
Andy.atx Posted April 29, 2020 Report Share Posted April 29, 2020 USD/CHF: TECHNICAL ANALYSIS 29.04.20 Current trend On the 4-hour chart, the instrument keeps a moderate negative dynamic. At the moment the price has met the support at the level of 0.97217. The breakdown of this level can accelerate the plunge towards 0.97046 support. There is a chance of an upward rebound, while its breakdown would allow the fall to continue to the area of 0.96741 support-line. Alternative scenario The upward rebound from 0.97217 and pullback above 0.97351 resistance will be a sign of the upward correction and let the price grow to the area of 0.97497-0.97546 resistance, which coincided with the middle line of Bollinger Bands. This area can prevent the instrument from growing, as the possibility of the reverse of the price is high there. However, the breakout of 0.97546 and the pair’s sustained trading above it will give a prospect of growth to the area of 0.97656-0.97713 resistance zone. Technical indicators Technical indicators maintain a sell signal. Bollinger Bands are pointed downwards. MACD volumes are decreasing in the positive zone. Stochastic lines are pointed downwards. Support and resistance Support levels: 0.97217, 0.97046, 0.96741. Resistance levels: 0.97351, 0.97546, 0.97713. Trading recommendations Short positions can be opened below the level of 0.97217 with the target at around 0.97000 and stop-loss at 0.97289. Long positions can be opened above the level of 0.97351 with the target at around 0.97600 and stop-loss at 0.97267. Link to comment Share on other sites More sharing options...
Andy.atx Posted April 29, 2020 Report Share Posted April 29, 2020 USD/CHF: TECHNICAL ANALYSIS 29.04.20 Current trend On the 4-hour chart, the instrument keeps a moderate negative dynamic. At the moment the price has met the support at the level of 0.97217. The breakdown of this level can accelerate the plunge towards 0.97046 support. There is a chance of an upward rebound, while its breakdown would allow the fall to continue to the area of 0.96741 support-line. Alternative scenario The upward rebound from 0.97217 and pullback above 0.97351 resistance will be a sign of the upward correction and let the price grow to the area of 0.97497-0.97546 resistance, which coincided with the middle line of Bollinger Bands. This area can prevent the instrument from growing, as the possibility of the reverse of the price is high there. However, the breakout of 0.97546 and the pair’s sustained trading above it will give a prospect of growth to the area of 0.97656-0.97713 resistance zone. Technical indicators Technical indicators maintain a sell signal. Bollinger Bands are pointed downwards. MACD volumes are decreasing in the positive zone. Stochastic lines are pointed downwards. Support and resistance Support levels: 0.97217, 0.97046, 0.96741. Resistance levels: 0.97351, 0.97546, 0.97713. Trading recommendations Short positions can be opened below the level of 0.97217 with the target at around 0.97000 and stop-loss at 0.97289. Long positions can be opened above the level of 0.97351 with the target at around 0.97600 and stop-loss at 0.97267. Link to comment Share on other sites More sharing options...
Andy.atx Posted April 29, 2020 Report Share Posted April 29, 2020 EUR/USD: TECHNICAL ANALYSIS 29.04.20 Current trend EUR/USD is in the stage of upward correction after falling to the level of 1.08172, which coincided with the middle line of Bollinger Bands. The first strong resistance for the pair is located on 1.08643 resistance. This level can prevent the instrument from growing, as the possibility of the reverse of the price is high there. However, its breakout can trigger a pair’s active growth to the 1.08879-1.08948 resistance. Alternative scenario The downward rebound from 1.08643 could lead the price back to 1.08337, then 1.08172 support zone. One may speak about downward movement continuation after the price consolidates below the support level of 1.08032. In this case, the sellers will aim for the 1.07727 mark. Technical indicators Technical indicators maintain a buy signal. Bollinger Bands are pointed upwards. MACD is growing in a positive zone. Stochastic is pointed upwards, reflecting the high possibility of upward movement formation. Support and resistance Support levels: 1.08337, 1.08032, 1.07727. Resistance levels: 1.08643, 1.08948, 1.09253. Trading recommendations Short positions can be opened below the level of 1.08032 with the target at around 1.07727 and stop-loss at 1.08132. Long positions can be opened above the level of 1.08643 with the target at around 1.08948 and stop-loss at 1.08550. Link to comment Share on other sites More sharing options...
Andy.atx Posted April 29, 2020 Report Share Posted April 29, 2020 EUR/USD: TECHNICAL ANALYSIS 29.04.20 Current trend EUR/USD is in the stage of upward correction after falling to the level of 1.08172, which coincided with the middle line of Bollinger Bands. The first strong resistance for the pair is located on 1.08643 resistance. This level can prevent the instrument from growing, as the possibility of the reverse of the price is high there. However, its breakout can trigger a pair’s active growth to the 1.08879-1.08948 resistance. Alternative scenario The downward rebound from 1.08643 could lead the price back to 1.08337, then 1.08172 support zone. One may speak about downward movement continuation after the price consolidates below the support level of 1.08032. In this case, the sellers will aim for the 1.07727 mark. Technical indicators Technical indicators maintain a buy signal. Bollinger Bands are pointed upwards. MACD is growing in a positive zone. Stochastic is pointed upwards, reflecting the high possibility of upward movement formation. Support and resistance Support levels: 1.08337, 1.08032, 1.07727. Resistance levels: 1.08643, 1.08948, 1.09253. Trading recommendations Short positions can be opened below the level of 1.08032 with the target at around 1.07727 and stop-loss at 1.08132. Long positions can be opened above the level of 1.08643 with the target at around 1.08948 and stop-loss at 1.08550. Link to comment Share on other sites More sharing options...
Andy.atx Posted April 30, 2020 Report Share Posted April 30, 2020 AUD/USD: TECHNICAL ANALYSIS 30.04.20 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 0.65600 and has the potential of growth to the area of 0.65918. This level seems a strong resistance, which can activate a downward reverse of the price. However, its breakout could trigger a pair' fresh run-up to new highs surrounding 0.66200-0.66528. Alternative scenario The downward rebound from 0.65918 resistance and pullback below 0.65600 will be a sign of the downward correction formation and let the price re-test the 0.65308 support. The breakdown of this level is will confirm the downward correction development and give a prospect of decline to the key correction target in the area 0.65000 (middle line of Bollinger Bands). Technical indicators Technical indicators maintain a buy signal. Bollinger Bands are pointed upwards. MACD is growing in a positive zone. Stochastic is pointed upwards, reflecting the high possibility of upward movement formation. Support and resistance Support levels: 0.65600, 0.65308, 0.65000. Resistance levels: 0.65918, 0.66200, 0.66528. Trading recommendations Long positions can be opened above the level of 0.65660 with the target at around 0.65918 and stop-loss at 0.65574. Short positions can be opened below the level of 0.65308 with the target at around 0.65000 and stop-loss at 0.65400. Link to comment Share on other sites More sharing options...
Andy.atx Posted April 30, 2020 Report Share Posted April 30, 2020 USD/JPY: TECHNICAL ANALYSIS 30.04.20 Current trend USD/JPY is in the stage of a downward correction after growing to the level of 106.871. The price is now testing the support level of 106.450. The area of 106.450-106.352 will be a strong zone, which can activate an upward rebound of the price. Meanwhile, the decisive breakdown of 106.352 will be a signal of the downward trend resumption and give a prospect of decline to the area of 106.250-106.000 support. Alternative scenario The upward rebound from 106.445 and pullback above 106.641 resistance will be a signal of the upward correction formation and let the price grow to the area of 108.836. The main target of the correction movement is located in the 106.900-107.031 resistance zone, which coincided with the middle line of Bollinger Bands. The breakout of 107.031 and pair’s sustained trading above it will be a signal of the upward trend resumption. In this case, the buyers will aim for the 107.227 resistance. Technical indicators Technical indicators maintain a sell signal. Bollinger Bands are pointed downwards. MACD is growing in the negative zone. Stochastic is pointed downwards. Support and resistance Support levels: 106.445, 106.250, 106.000. Resistance levels: 106.641, 108.836, 107.031, 107.227. Trading recommendations Short positions can be opened below the level of 106.352 with the target at around 106.000 and stop-loss at 106.465. Long positions can be opened above the level of 106.641 with the target at around 108.836-107.031 and stop-loss at 106.511. Link to comment Share on other sites More sharing options...
Andy.atx Posted April 30, 2020 Report Share Posted April 30, 2020 GBP/USD: TECHNICAL ANALYSIS 30.04.20 Current trend GBP/USD quotes today attempted to decline, but reaching 1.24283 mark moved to upward correction. The price went up above the strong resistance level of 1.24512 and can grow further to the area of 1.24816-1.24868. This area can activate a downward reverse of the price. In case the pair manage to cross the 1.24868 hurdle, the buyers will aim for the 1.25122 resistance. Alternative scenario The pullback of the price below 1.24512 will let the price re-test the 1.24383 mark, which coincided with the middle line of Bollinger Bands. The downward trend will be restored after the price is set below the level of 1.24300. In this case, the sellers will aim for the 1.23901 support-line. Technical indicators Technical indicators maintain a buy signal. Bollinger Bands are converging on the background of bullish momentum. MACD is growing in a positive zone. Stochastic is pointed upwards, reflecting the high possibility of upward movement formation. Support and resistance Support levels: 1.24512, 1.24383, 1.23901, 1.23600. Resistance levels: 1.24816, 1.25122, 1.25400. Trading recommendations Long positions can be opened above the level of 1.24816 with the target at around 1.25122 and stop-loss at 1.24714. Short positions can be opened below the level of 1.24300 with the target at around 1.24000 and stop-loss at 1.24400. Link to comment Share on other sites More sharing options...
Andy.atx Posted April 30, 2020 Report Share Posted April 30, 2020 GBP/USD: TECHNICAL ANALYSIS 30.04.20 Current trend GBP/USD quotes today attempted to decline, but reaching 1.24283 mark moved to upward correction. The price went up above the strong resistance level of 1.24512 and can grow further to the area of 1.24816-1.24868. This area can activate a downward reverse of the price. In case the pair manage to cross the 1.24868 hurdle, the buyers will aim for the 1.25122 resistance. Alternative scenario The pullback of the price below 1.24512 will let the price re-test the 1.24383 mark, which coincided with the middle line of Bollinger Bands. The downward trend will be restored after the price is set below the level of 1.24300. In this case, the sellers will aim for the 1.23901 support-line. Technical indicators Technical indicators maintain a buy signal. Bollinger Bands are converging on the background of bullish momentum. MACD is growing in a positive zone. Stochastic is pointed upwards, reflecting the high possibility of upward movement formation. Support and resistance Support levels: 1.24512, 1.24383, 1.23901, 1.23600. Resistance levels: 1.24816, 1.25122, 1.25400. Trading recommendations Long positions can be opened above the level of 1.24816 with the target at around 1.25122 and stop-loss at 1.24714. Short positions can be opened below the level of 1.24300 with the target at around 1.24000 and stop-loss at 1.24400. Link to comment Share on other sites More sharing options...
Andy.atx Posted April 30, 2020 Report Share Posted April 30, 2020 GBP/USD: TECHNICAL ANALYSIS 30.04.20 Current trend GBP/USD quotes today attempted to decline, but reaching 1.24283 mark moved to upward correction. The price went up above the strong resistance level of 1.24512 and can grow further to the area of 1.24816-1.24868. This area can activate a downward reverse of the price. In case the pair manage to cross the 1.24868 hurdle, the buyers will aim for the 1.25122 resistance. Alternative scenario The pullback of the price below 1.24512 will let the price re-test the 1.24383 mark, which coincided with the middle line of Bollinger Bands. The downward trend will be restored after the price is set below the level of 1.24300. In this case, the sellers will aim for the 1.23901 support-line. Technical indicators Technical indicators maintain a buy signal. Bollinger Bands are converging on the background of bullish momentum. MACD is growing in a positive zone. Stochastic is pointed upwards, reflecting the high possibility of upward movement formation. Support and resistance Support levels: 1.24512, 1.24383, 1.23901, 1.23600. Resistance levels: 1.24816, 1.25122, 1.25400. Trading recommendations Long positions can be opened above the level of 1.24816 with the target at around 1.25122 and stop-loss at 1.24714. Short positions can be opened below the level of 1.24300 with the target at around 1.24000 and stop-loss at 1.24400. Link to comment Share on other sites More sharing options...
broforex51 Posted April 30, 2020 Report Share Posted April 30, 2020 AUDCAD today as we see here, the price still in bullish trend, so the best option for you is to buy it, you can buy it when the price touch support area at 0.90743 with potential target up to 0.91104 Link to comment Share on other sites More sharing options...
Andy.atx Posted May 1, 2020 Report Share Posted May 1, 2020 EUR/JPY: TECHNICAL ANALYSIS 01.05.20 Current trend EUR/JPY is in the stage of a downward correction after growing to the level of 117.767. At the moment the price has met the support at the level of 117.126. The breakdown of this level and a sustained move below it will be a sign of the downward correction development and let the price decline to the 116.797 support. These level might offer an intermediate halt during the plunge to key correction target around 116.406-116.200. Alternative scenario The upward rebound from 117.126 and pullback above 117.357 resistance will let the price re-test the area 117.504-117.578 resistance. One may speak about upward movement continuation after the price consolidates above the resistance level of 117.767. In this case, the buyers will aim for the 117.969 area. Technical indicators 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 is growing in a 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: 117.126, 116.797, 116.406. Resistance levels: 117.357, 117.504, 117.767, 117.969. Trading recommendations Short positions can be opened below the level of 117.126 with the target at around 116.797 and stop-loss at 117.235. Long positions can be opened above the level of 117.767 with the target at around 117.969 and stop-loss at 117.690. Link to comment Share on other sites More sharing options...
Andy.atx Posted May 1, 2020 Report Share Posted May 1, 2020 NZD/USD: TECHNICAL ANALYSIS 01.05.20 Current trend The NZD/USD pair begins today’s trading with a bearish bias. At the moment the price has met the support at the level of 0.60845, which coincided with the middle line of Bollinger Bands. This level can activate an upward rebound. However, its breakdown will be a signal of the downward trend resumption and give a prospect of decline to the area of 0.60500. Alternative scenario The upward rebound from 0.60845 and pullback above 0.61035 will be a sign of the upward correction formation and let the price grow to the area of 0.61256. The breakout of this level will confirm the upward correction potential and give a prospect of growth to the area of 0.61515. Technical indicators Technical indicators maintain a sell signal. Bollinger Bands are converging on the background of bearish momentum. MACD volumes are decreasing in the positive zone. Stochastic’s lines are pointed downwards and are reaching the oversold area. Support and resistance Support levels: 0.60845, 0.60500, 0.60200. Resistance levels: 0.61035, 0.61256, 0.61515. Trading recommendations Short positions can be opened below the level of 0.60845 with the target at around 0.60500 and stop-loss at 0.60950. Long positions can be opened above the level of 0.61035 with the target at around 0.61256-0.61300 and stop-loss at 0.60946. Link to comment Share on other sites More sharing options...
Andy.atx Posted May 4, 2020 Report Share Posted May 4, 2020 USD/CAD: TECHNICAL ANALYSIS 04.05.20 Current trend On the 4-hour chart, USD/CAD quotes attempted to grow, but reaching 1.41497 mark moved to a downward correction. If the sellers manage to decline the rate below the level of 1.40991, the correction can continue to the area of 1.40748-1.40600. The breakdown of the lower border can accelerate the pair towards 1.40381 support. Alternative scenario If USD/CAD cannot consolidate below the level of 1.40991 during short term-period the upward trend restoration and retest of the level 1.41497 and 1.41602 are possible. The second one seems a strong resistance level, which can activate a downward rebound. However, the breakout of 1.41602 could trigger a pair’s fresh run-up to a two-week high surrounding 1.41935- 1.42000. Technical indicators 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 is growing in a positive zone. Stochastic is preparing to exit the overbought zone and is directed downwards, signaling the development of a downward correction. Support and resistance Support levels: 1.40991, 1.40748. 1.40600, 1.40381. Resistance levels: 1.41602, 1.41935, 1.42200. Trading recommendations Short positions can be opened below the level of 1.40991 with the target at around 1.40600 and stop-loss at 1.41121. Long positions can be opened above the level of 1.41602 with the target at around 1.41935 and stop-loss at 1.41490. Link to comment Share on other sites More sharing options...
Andy.atx Posted May 4, 2020 Report Share Posted May 4, 2020 EUR/USD: TECHNICAL ANALYSIS 04.05.20 Current trend EUR/USD is in the stage of a downward correction after growing to the level of 1.10176. The key target of the correction is located in 1.09100-1.08948 area. This area can activate and upward reverse of the price. Meanwhile, the decisive breakdown of the 1.08948 will be a signal of the downward trend resumption and give a prospect of decline to the area of 1.08643 support. Alternative scenario The upward rebound from 1.09100 and pullback above 1.09558 will give a prospect of growth to the area of 1.09734-1.09863. The upper border of this channel seems a key level for the buyers. Pair’s sustained trading above it will let the price re-test 1.10176 resistance. One may speak about downward movement continuation after the price consolidates above the resistance level of 1.10200. In this case, the next targets of buyers will be the level of 1.10474. Technical indicators Technical indicators maintain a sell signal. Bollinger Bands are diverging on the background of bullish momentum. MACD volumes are decreasing in the positive zone. Stochastic is pointed downwards, reflecting the high possibility of the downward movement formation. Support and resistance Support levels: 1.09253, 1.08948, 1.08643. Resistance levels: 1.09558, 1.09863, 1.10168, 1.10474. Trading recommendations Short positions can be opened below the level of 1.08948 with the target at around 1.08643 and stop-loss at 1.09949 Long positions can be opened above the level of 1.09558 with the target at around 1.09863 and stop-loss at 1.09456. Link to comment Share on other sites More sharing options...
Andy.atx Posted May 4, 2020 Report Share Posted May 4, 2020 USD/CHF: TECHNICAL ANALYSIS 04.05.20 Current trend On the 4-hour chart, the instrument keeps a positive dynamic amid the correction. At the moment the price has met the resistance at the level of 0.96436. Assuming the pair’s ability to cross this mark, the level of 0.96741 can be targeted if holding long positions. The area of 0.96741-0.96782 (middle line of Bollinger Bands) can prevent the instrument from growing, as the possibility of the reverse of the price is high there. However, the decisive breakout of 0.96782 will be a signal of the upward trend resumption and give a prospect of growth to the area of 0.97046. Alternative scenario The downward rebound from 0.96436 could lead the price back to 0.96130 support. Should prices continue slipping below 0.96000, the 0.95825 support might try activating an upward rebound. One may speak about downward movement continuation after the price consolidates below the support level of 0.95800. In this case, the next target of sellers will be the level of 0.95520. Technical indicators Technical indicators maintain a buy signal. Bollinger Bands are converging on the background of bullish momentum. MACD is decreasing in the negative zone. Stochastic is pointed upwards, reflecting the high possibility of upward movement formation. Support and resistance Support levels: 096130, 0.95825, 0.95520. Resistance levels: 0.96436, 0.96741, 0.97046. Trading recommendations Long positions can be opened above the level of 0.96436 with the target at around 0.96741 and stop-loss at 0.96334. Short positions can be opened below the level of 0.96130 with the target at around 0.95825 and stop-loss at 0.96231. Link to comment Share on other sites More sharing options...
Andy.atx Posted May 5, 2020 Report Share Posted May 5, 2020 AUD/USD: TECHNICAL ANALYSIS 05.05.20 Current trend On the 4-hour chart, the instrument keeps a positive dynamic. At the moment the price has met the resistance at the level of 0.64554. Assuming the pair’s ability to cross this level, the mark of 0.64697 can be targeted if holding long positions. This level can prevent the instrument from growing, as the possibility of the reverse of the price is high there. However, the breakout of 0.64700 will be a signal of the upward trend resumption and give a prospect of the growth to the area of 0.65000-0.65308. Alternative scenario The downward rebound from 0.64697 and pullback below 0.64336 will be a sign of the downward correction development and let the price re-test the 0.64087-0.63910 support zone. Should prices continue slipping below 0.63900, the level of 0.63600 and 0.63477 might try activating an upward rebound. Technical indicators Technical indicators maintain a buy signal. Bollinger Bands are converging on the background of bullish momentum. MACD volumes are decreasing in the negative zone. Stochastic is pointed upwards, reflecting the high possibility of upward movement formation. Support and resistance Support levels: 0.64336, 0.64087, 0.63600, 0.63477. Resistance levels: 0.64697, 0.65000, 0.65308, 0.65600. Trading recommendations Short positions can be opened below the level of 0.64000 with the target at around 0.63700 and stop-loss at 0.64216. Long positions can be opened above the level of 0.64700 with the target at around 0.65000 and stop-loss at 0.64600. Link to comment Share on other sites More sharing options...
Andy.atx Posted May 5, 2020 Report Share Posted May 5, 2020 USD/JPY: TECHNICAL ANALYSIS 05.05.20 Current trend The USD/JPY pair begins today’s trading with a slight bearish bias. The price has tested the support level of 106.505 and was slightly corrected upwards, but the general downward trend maintains. The breakdown of 106.500 level will give a prospect of decline to the area of 106.445-106.352 levels, which seem strong support in the short-term period. There is a high chance of an upward rebound. Meanwhile, the breakdown of the 106.352 level can trigger a pair's active plunge to 106.230-106.000 support. Alternative scenario If the "bulls" manage to raise the rate above the level of 106.700, the correction can continue to the area of 106.836 resistance, which coincided with the middle line of Bollinger Bands. This level can prevent the instrument from growing, as the key target of the correction. However, the decisive breakout of 106.836 will let the price re-test the 107.063 resistance. Should prices continue growing above 107.063, the area of 107.227 resistance might try activating a downward rebound. Technical indicators Technical indicators maintain a sell signal. Bollinger Bands are diverging on the background of bearish momentum. MACD is growing in the negative zone. Stochastic’s lines are pointed downwards and are reaching the oversold area. Support and resistance Support levels: 106.445, 106.230, 106.000. Resistance levels: 106.641, 106.836, 107.063, 107.227. Trading recommendations Short positions can be opened below the level of 106.400 with the target at around 106.100 and stop-loss at 106.500. Long positions can be opened above the level of 106.836 with the target at around 107.100 and stop-loss at 106.748. Link to comment Share on other sites More sharing options...
Andy.atx Posted May 5, 2020 Report Share Posted May 5, 2020 GBP/USD: TECHNICAL ANALYSIS 05.05.20 Current trend On the 4-hour chart, the instrument keeps a positive dynamic amid the upward correction. The price went up above the strong resistance level of 1.24512 and can grow further to the level of 1.24860. This level seems a key target of the upward correction and coincided with the middle line of Bollinger Bands. There is a chance of a downward rebound of the price. One may speak about upward movement continuation after the price consolidates above the resistance level of 1.25122. In this case, the next targets of buyers will be the level of 1.25400. Alternative scenario The downward rebound from 1.24860 and pullback below 1.24512 will let the price re-test the 1.24328 support. Pair's sustained trading below will give a prospect of decline to yesterday's low surrounding 1.24044 level. The downward trend will be restored after the price is set below the level of 1.23900. In this case, the sellers will aim for the 1.23600-1.23291 support-zone. Technical indicators The technical picture is mixed. Bollinger Bands are pointed sideways. MACD is growing in the negative zone., keeping a weak sell signal. Stochastic is pointed upwards, reflecting the high possibility of upward movement formation. Support and resistance Support levels: 1.24512, 1.24328, 1.24044, 1.23600, 1.23291. Resistance levels: 1.24860, 1.24512, 1.24860, 1.25122, 1.25400. Trading recommendations Short positions can be opened below the level of 1.24300 with the target at around 1.24000 and stop-loss at 1.24400. Long positions can be opened above the level of 1.25122 with the target at around 1.25400 and stop-loss at 1.25029. Link to comment Share on other sites More sharing options...
Andy.atx Posted May 6, 2020 Report Share Posted May 6, 2020 EUR/JPY: TECHNICAL ANALYSIS 06.05.20 Current trend EUR/JPY is in the stage of upward correction after falling to the level of 115.095, but the general downward trend is still maintained. The decisive breakdown of the 115.000 is needed to indicate the downward trend resumption. In this case, the sellers will aim for the 114.825-114.700 support area. Alternative scenario If the "bulls" manage to raise the rate above the level of 115.300, the correction can continue to the area of 115.625 level. This mark seems a strong resistance, which can activate a downward rebound. However, the breakout of 115.625 will give a prospect of the growth to the area of 116.000. Technical indicators Technical indicators mostly keep a sell signal, but the upward correction is possible in the short term. Bollinger Bands are pointed downwards. MACD is growing in the negative zone. Stochastic is in the oversold area and is pointed upwards, reflecting the high possibility of upward movement formation. Support and resistance Support levels: 115.234, 115.000, 114.825, 114.700. Resistance levels: 115.300, 115.625, 116.000. Trading recommendations Short positions can be opened below the level of 115.000 with the target at around 114.700 and stop-loss at 115.100. Long positions can be opened above the level of 115.625 with the target at around 115.900 and stop-loss at 115.520. Link to comment Share on other sites More sharing options...
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