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GBP/USD: technical analysis 16.09.2019

GBPUSDH416092019.png

Current trend

GBP/USD is in the stage of downward correction after raising to the level of 1.24645. If the sellers manage to decline the rate below the level of 1.24512 (Murray [8/8], the correction can continue to the area of 1.24397, 1.24258. The key target of the correction is the level of 1.23901 (Murray [7/8]), which corresponds to the middle line of Bollinger Bands. If the instrument cannot consolidate below the level of 1.24512 during short term period, it will begin to grow to the area of 1.25035-1.25122 (Murray [+1/8]). This area can prevent the instrument from growing, as the possibility of the reverse of the price is high there. Meanwhile, the breakout of 1.25122 can accelerate the pair towards 1.25326. Technical indicators mostly keep a buy signal, but the downward correction is possible in the short term. Bollinger Bands are pointed upwards. MACD volumes are decreasing 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: 1.24512, 1.24397, 1.24258, 1.23901.
Resistance levels: 1.25122, 1.25326, 1.25560.

Trading recommendations

Short positions can be opened below the level of 1.24512 with the target at around 1.24397-1.24258 and stop-loss 1.24596.
Long positions can be opened above the level of 1.25122 with the target at around 1.25326 and stop-loss 1.25054.

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USD/JPY: technical analysis 17.09.2019

USDJPYH417092019.png

Current trend

USD/JPY is in the stage of downward correction after raising to the level of 108.365. The first target of the correction is the level of 108.010, which corresponds to the middle line of Bollinger Bands. There is a chance of an upward rebound, while its breakdown would allow the fall to continue to the area of 107.813 (Murray [4/8]). The upward trend will be restored after the price is set above the level of 108.365. In this case, the next targets of sellers will be the level of 108.594 (Murray [6/8]), 108.700. Technical indicators mostly keep a buy signal, but the downward correction is possible in the short term. Bollinger Bands are pointed upwards. MACD volumes are in the positive zone and are moving along the zero line. Stochastic is preparing to exit the overought zone and is directed downwards, signaling the development of an downward correction.

Support and resistance

Support levels: 108.146, 108.000, 107.813.
Resistance levels: 108.365, 108.594, 108.700.

Trading recommendations

Short positions can be opened below the level of 108.146 with the target at around 108.000-107.813 and stop-loss 108.257.
Long positions can be opened above the level of 108.365 with the target at around 108.594-108.700 and stop-loss 108.253.

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XAU/USD: technical analysis 17.09.2019

XAUUSDH417092019.png

Current trend

The XAU/USD pair consolidating below the middle line of Bollinger Bands. The price has tested the resistance level of 1500.81 and was slightly corrected downwards. If the “bulls” manage to raise the rate above the level of 1500.81, the upward movement can continue to the area of 1504.31-1507.81 (Murray [1/8]). Should prices continue raising above 1507.81 mark, the area of 1510.43-1512.11 might try activating a downward rebound.
Alternative scenario.
Pullback and pair’s sustained trading below the 1496.12 level will push the price to 1492.19 (Murray [-1/8]). There is a chance of an upward rebound, while its breakdown would allow the fall to continue to 1488.46-1484.38 (Murray [-2/8]). Technical picture is mixed. Bollinger Bands are pointed sideways. MACD volumes are in the negative zone and are moving along the zero line. Stochastic is preparing to exit the oversold zone and is directed upwards, signaling the development of an upward correction.

Support and resistance

Support levels: 1496.12, 1492.19, 1488.46.
Resistance levels: 1500.00, 1504.31, 1507.81.

Trading recommendations

Short positions can be opened below the level of 1496.12 with the target at around 1492.19-1488.46 and stop-loss 1498.70.
Long positions can be opened above the level of 1500.81 with the target at around 1504.31-1507.81 and stop-loss 1498.80.

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USD/CHF: technical analysis 18.09.2019

USDCHFH418092019.png

Current trend

USD/CHF is in the stage of upward correction after falling to the level of 0.99205. If the “bulls” manage to raise the rate above the level of 0.99383, the correction can continue to the area of 0.99487 (Murray [8/8]). The area of 0.99487-0.99574 seem tough resistance, which can activate a downward rebound. Meanwhile, the breakout and pair’s sustained trading above 0.99574 level will let the price grow to the area of 0.99640 (Murray [+1/8]). Alternative scenario. Pullback and price sustained trading below 0.99252 will let the price fall to the level 0.99182 (Murray [6/8]). There is a chance of an upward rebound, while its breakdown would allow the fall to continue to the level of 0.99030 (Murray [5/8])-0.98877 (Murray [4/8]). The technical picture is mixed. Bollinger Bands are pointed upwards. MACD is slowly growing in the positive zone. Stochastic is pointed sideways.

Support and resistance

Support levels: 0.99252, 0.99182, 0.99030, 0.98877.
Resistance levels: 0.99383, 0.99487, 0.99640.

Trading recommendations

Long positions can be opened above the level of 0.99383 with the target at around 0.99487-0.99640 and stop-loss 0.99297.
Short positions can be opened above the level of 0.99252 with the target at around 0.99182-0.98877 and stop-loss 0.99377.

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USD/CAD: technical analysis 18.09.2019

USDCADH418092019.png

Current trend

The USD/CAD pair begins today’s trading with slight bullish bias. At the moment the price has met the resistance at the level of 1.32563. Assuming the pair’s ability to cross this level, the mark of 1.32751 (Murray [3/8])-1.32832 can be targeted if holding long positions. The area of 1.32751-1.32832 can prevent the instrument from growing, as the possibility of the reverse of the price is high there. Meanwhile, the breakout of 1.32832 can accelerate the pair towards 1.32994-1.33057 (Murray [4/8]). Alternative scenario. If USD/CAD cannot consolidate above the level of 1.32569 during short term period, the downward movemebt restoration and retest of the level 1.32446 (Murray [2/8]) are possible. The breakdown of this level will let USD/CAD fall to the level of 1.32253-1.32141 (Murray [1/8]). Technical indicators mostly reflect the moderate maintenance of the current upward trend. MACD is slowly growing in the positive zone. Stochastic is in the overbought zone and is pointed upwards. Bollinger Bands are pointed sideways, reflecting relative calmness of the markets and sideways movement of the price.

Support and resistance

Support levels: 1.32446, 1.32253, 1.32141.
Resistance levels: 1.32563, 1.32751, 1.32832.

Trading recommendations

Long positions can be opened above the level of 1.32563 with the target at around 1.32751-1.32832 and stop-loss 1.32473.
Short positions can be opened below the level of 1.32446 with the target at around 1.32253-1.32141 and stop-loss 1.32547.

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EUR/USD: technical analysis 18.09.2019

EURUSDH418092019.png

Current trend

EUR/USD is in the stage of downward correction after raising to the level of 1.10755. The first target of the correction is the level of 1.10513, which corresponds to the middle line of Bollinger Bands, where is a chance of an upward rebound. The breakdown and consolidation of the price below the level of 1.10474 (Murray [2/8]) will let EUR/USD fall to the level of 1.10321, 1.10168 (Murray [1/8]). The upward trend will be restored after the price is set above the level of 1.10779 (Murray [3/8]). In this case, the buyers will aim for the level of 1.10931, 1.11084 (Murray [4/8]). The mark of 1.11084 seem a key level for the buyers and can prevent the instrument from growing, as the possibility of the reverse of the price is high there. The technical picture is mixed. Bollinger Bands are pointed sideways. The volumes of MACD histogram are growing in the positive zone. Stochastic is in the overbought zone and is pointed downwards, reflecting the high possibility of the downward movement formation.

Support and resistance

Support levels: 1.10474, 1.10323, 1.10168.
Resistance levels: 1.10779, 1.10869, 1.11084.

Trading recommendations

Long positions can be opened above the level of 1.10779 with the target at around 1.11084 and stop-loss 1.10677.
Short positions can be opened below the level of 1.10474 with the target at around 1.10168 and stop-loss 1.10576.

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AUD/USD: technical analysis 19.09.2019

AUDUSDH419092019.png

Current trend

On the 4-hour chart, the instrument is falling along the lower line of the Bollinger Bands. The price went down below the level of 0.67902 and can fall further to the area of levels 0.67800-0.67749 (Murray [0/8]). The mark of 0.67749 seem a strong support, that can prevent the instrument from falling. Meanwhile, the breakdown and pair’ sustained trading below this level will let AUD/USD fall to the level of 0.67596 (Murray [-1/8]).
Alternative scenario. If the “bulls” manage to raise the rate above the level of 0.67976, the correction can continue to the area of 0.68054 (Murray [2/8])-0.68137. The upward trend will be restored after the price is set above the level of 0.68207 (Murray [3/8]). In this case, the next targets of buyers will be the level of 0.68359 (Murray [4/8]). Technical indicators mostly maintain a sell signal. Bollinger Bands are diverging on the background of bearish momentum. The volumes of MACD histogram are growing in the negative zone. Stochastic’s lines are pointed downwards and are reaching the oversold area.

Support and resistance

Support levels: 0.67749, 0.67596, 0.67444.
Resistance levels: 0.67976, 0.68137, 0.68359.

Trading recommendations

Long positions can be opened above the level of 0.67976 with the target at around 0.68207-0.68359 and stop-loss 0.67848.
Short positions can be opened below the level of 0.67749 with the target at around 0.67596-0.67444 and stop-loss 0.67850.

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USD/JPY: technical analysis 19.09.2019

USDJPYH419092019.png

Current trend

On 4-hour chart, the instrument shows a negative dynamic. At the moment the price has met the support at the level of 107.813 (Murray [4/8]). Assuming the pair’s ability to cross this level, the mark of 107.715-107.617 can be targeted if holding short positions. If the instrument cannot consolidate below the level of 107.813 during short term period , it will begin to grow to the area of 108.090, which is the middle line of Bollinger Bands. There is a chance of an downward rebound, while its breakout would allow the raise to continue to the area of 108.200 (Murray [5/8]). The breakout of 108.200 can accelerate the pair towards 108.473 but this area can restrict further rise. Technical indicators reflect the moderate maintenance of the current downward trend. Bollinger Bands are converging on the background of bearish momentum. MACD volumes are decreasing in the positive zone. Stochastic is pointed downwards.

Support and resistance

Support levels: 107.813, 107.715, 107.617, 107.422.
Resistance levels: 108.090, 108.200, 108.473.

Trading recommendations

Short positions can be opened below the level of 107.813 with the target at around 107.715-107.422 and stop-loss 107.943.
Long positions can be opened above the level of 108.090 with the target at around 108.200-108.473 and stop-loss 107.962.

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GBP/USD: technical analysis 19.09.2019

GBPUSDH41909201.png

Current trend

GBP/USD continues to consolidate in the side channel 1.24588-1.24791. Technicaly the pair is trading above the middle line of Bollinger Bands suggesting bullish momentum. One may speak about upward movement continuation after the price consolidates above the resistance level of 1.25122 (Murray [5/8]). In this case, the buyers will aim for the level of 1.25342, 1.25500. Alternative scenario. Pullback and pair’s sustained trading below the level 1.24512 (Murray [5/8]), which coincided with the middle line of Bollinger Bands, will let GBP/USD fall to the level of 1.24333, 1.24207.Technical indicators reflect the maintenance of the current sideways dynamic. Bollinger Bands and Stochastic are pointed sideways. MACD volumes are in the positive zone and are moving along the zero line.

Support and resistance

Support levels: 1.24512, 1.24333, 1.24207, 1.23901.
Resistance levels: 1.25122, 1.25342, 1.25500.

Trading recommendations

Short positions can be opened below the level of 1.24512 with the target at around 1.24333-1.24207 and stop-loss 1.24613.
Long positions can be opened above the level of 1.25122 with the target at around 1.25342-1.25500 and stop-loss 1.24996.

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GBP/USD: technical analysis 20.09.2019

GBPUSDH420092019.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 1.25732 (Murray [8/8]). There is a chance of an downward rebound, while its breakout would allow the raise to continue to the area of 1.26000. If the sellers manage to decline the rate below the level of 1.25427 level, the downward correction can continue to the area of 1.25122 (Murray [5/8]). Additionally, pair’s sustained trading below the 1.25122 could set the area of 1.24800 on sellers’ radar. Technical indicators maintain a buy signal. Bollinger Bands are diverging, reflecting the active development of the current upward trend. The volumes of MACD histogram are growing in the positive zone. Stochastic’s lines are pointed upwards and are reaching the overbought area.

Support and resistance

Support levels: 1.25427, 1.25122, 1.24800.
Resistance levels: 1.25732, 1.26000, 1.26343.

Trading recommendations

Long positions can be opened above the level of 1.25732 with the target at around 1.26000 and stop-loss 1.25632.
Short positions can be opened below the level of 1.25427 with the target at around 1.25122 and stop-loss 1.25527.

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XAU/USD: technical analysis 20.09.2019

XAUUSDH420092019.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 1505.43 and was slightly corrected downwards. Assuming the pair’s ability to cross 1505.43 mark, the level of 1507.81 can be targeted if holding long positions. Should prices continue rising above 1507.81, the level of 1511.56 might try activating a downward rebound. The downward trend will be restored after the price is set below the level of 1500.00 (Murray [0/8]), which is the middle line of Bollinger Bands. In this case, the next targets of sellers will be the level of 1496.55, 1492.19 (Murray [3/8]). The technical picture is mixed. Bollinger Bands are pointed sideways. MACD volumes are in the negative zone and are moving along the zero line. Stochastic’s lines are pointed upwards and are reaching the overbought area.

Support and resistance

Support levels: 1500.00, 1496.55, 1492.19.
Resistance levels: 1505.43, 1507.81, 1511.56.

Trading recommendations

Short positions can be opened below the level of 1500.00 with the target at around 1496.55-1492.19 and stop-loss 1502.30.
Long positions can be opened above the level of 1507.81 with the target at around 1511.56 and stop-loss 1506.50.

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NZD/USD: technical analysis 20.09.2019

NZDUSDH420092019.png

Current trend

NZD/USD is in the stage of upward correction after falling to the level of 0.62850, but the general downward trend is still maintained.
If the “bulls” manage to raise the rate above the level of 0.63000, the correction can continue to the area of 0.63171,
which coincided with the middle line of Bollinger Bands.
There is a chance of an downward rebound with retest of the support level 0.62866 (Murray [2/8]).
Meanwhile, the breakout of 0.63171 can accelerate the pair towards 0.63248, 0.63324.
The downward trend will be restored after the price is set below the level of 0.62850.
In this case, the next targets of sellers will be the level of 0.62686.

Technical indicators mostly keep a sell signal, but the upward correction is possible in the short term.
Bollinger Bands are diverge on the background of bearish momentum.The volumes of MACD histogram are growing in the negative zone
Stochastic is preparing to exit the oversold zone and is directed upwards, signaling the development of an upward correction.

Support and resistance

Support levels: 0.62866, 0.62686, 0.62561.
Resistance levels: 0.63000, 0.63171, 0.63248.

Trading recommendations

Short positions can be opened below the level of 0.62850 with the target at around 0.62686 and stop-loss 0.62904.
Long positions can be opened above the level of 0.63000 with the target at around 0.63171 and stop-loss 0.62943.

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USD/CHF: technical analysis 23.09.2019

USDCHFH423092019.png

Current trend

USD/CHF is trading side narrow channel 0.98939-0.99215. The general downward trend is still maintained, which is confirmed by technical indicators. If the sellers manage to decline the rate below the level of 0.99073, the downward movement can continue to the area of 0.98877 (Murray [4/8]). The level of 0.98877 seem a strong support. There is a chance of an upward rebound, while its breakdown would allow the fall to continue to the area of 0.98690. Alternative scenario. The upward trend will be restored after the price is set above the level of 0.99357, which is the middle line of Bollinger Bands. In this case, the next targets of buyers will be the level of 0.99487 (Murray [6/8]), 0.99680. The technical picture is mixed. Bollinger Bands are pointed downwards. MACD is slowly growing in the negative zone. Stochastic is pointed sideways.

Support and resistance

Support levels: 0.99073, 0.98877, 0.98690.
Resistance levels: 0.99182, 0.99357, 0.99487, 0.99680.

Trading recommendations

Long positions can be opened above the level of 0.99357 with the target at around 0.99487-0.99680 and stop-loss 0.99249.
Short positions can be opened above the level of 0.99073 with the target at around 0.98877-0.98690 and stop-loss 0.99200.

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USD/CAD: technical analysis 23.09.2019

USDCADH423092019.png

Current trend

The USD/CAD pair begins today’s trading with slight bullish bias. At the moment the price has met the resistance at the level of 1.32751, which coincided with the middle line of Bollinger Bands. If the “bulls” manage to raise the rate above the level of this level, the upward moevemnt can continue to the area of 1.23832, 1.33057 (Murray [4/8]). The area of 1.33057 level can prevent the instrument from growing, as the possibility of the reverse of the price is high there. Alternative scenario. If USD/CAD cannot consolidate above the level of 1.32751 during short term period, the downward movemebt restoration and retest of the level 1.32446 (Murray [2/8]) are possible. The breakdown of this level will let USD/CAD fall to the level of 1.32253-1.32141 (Murray [1/8]). Technical indicators mostly reflect the moderate maintenance of the current upward trend. MACD is slowly growing in the positive zone. Stochastic is pointed upwards. Bollinger Bands are pointed sideways, reflecting relative calmness of the markets and sideways movement of the price.

Support and resistance

Support levels: 1.32675, 1.32446, 1.32253, 1.32141.
Resistance levels: 1.32751, 1.32832, 1.33057.

Trading recommendations

Long positions can be opened above the level of 1.32751 with the target at around 1.32832-1.33057 and stop-loss 1.32649.
Short positions can be opened below the level of 1.32675 with the target at around 1.32446 and stop-loss 1.32751

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EUR/USD: technical analysis 23.09.2019

EURUSDH423092019.png

Current trend

EUR/USD is in the stage of upward correction after falling to the level of 1.09959. The price went up above the level of 1.10168 (Murray [1/8]) and can grow further to the levels of 1.10260 and 1.10425, which coincided with the middle line of Bollinger Bands. The area of 1.10425-1.10474 can prevent the instrument from growing, as the possibility of the reverse of the price is high there. The downward trend will be restored after the price is set below the level of 1.09959. In this case, the next targets of sellers will be the level of 1.09863 (Murray [4/8]). The level of 1.09863 seem a key level for the sellers in short term period. There is a chance of an upward rebound, while its breakdown would allow the fall to continue to the level of 1.09711. The technical picture is mixed. Bollinger Bands are pointed downwards. MACD histogram is in the negative zone keeping a signal for the opening of sell positions. Stochastic has left the oversold area and is pointed upwards, reflecting the high possibility of the upward movement formation.

Support and resistance

Support levels: 1.10168, 1.09959, 1.09711.
Resistance levels: 1.10259, 1.10425, 1.10673.

Trading recommendations

Long positions can be opened above the level of 1.10260 with the target at around 1.10425-1.10673 and stop-loss 1.10122.
Short positions can be opened below the level of 1.09959 with the target at around 1.09863-1.09711 and stop-loss 1.10041.

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AUD/USD: technical analysis 24.09.2019

AUDUSDH424092019.png

Current trend

On 4-hour chart, the instrument shows a moderate positive dynamic. At the moment the price has met the resistance at the level of 0.67856, which coincided with the middle line of Bollinger Bands. Assuming the pair’s ability to cross this level, the mark of 0.68054 (Murray [7/8]) can be targeted if holding long positions. The level of 0.68054 seem a strong resistance, that can activate an downward rebound. If AUD/USD cannot consolidate above the level of 0.67856 during short term period, the downward movement restoration and retest of the level 0.67658 are possible. The general downward trend will be restored after the price is set below the level of 0.67444 (Murray [5/8]). In this case, the next targets of sellers will be the level of 0.67139 (Murray [4/8]). Technical indicators reflect the moderate maintenance of the current upward dynamic. Bollinger Bands are converging on the background of bullish momentum. MACD volumes are decreasing in the negative zone. Stochastic is pointed upwards.

Support and resistance

Support levels: 0.67749, 0.67658, 0.67444.
Resistance levels: 0.67856, 0.68054, 0.68359.

Trading recommendations

Long positions can be opened above the level of 0.67856 with the target at around 0.68054 and stop-loss 0.67790.
Short positions can be opened below the level of 0.67749 with the target at around 0.67658-0.67444 and stop-loss 0.67850.

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USD/JPY: technical analysis 24.09.2019

USDJPYH424092019.png

Current trend

The USD/JPY pair begins today’s trading with slight bullish bias due to upward correction. The key target of the correction is the level of 107.813 (Murray [4/8]), which corresponds to the middle line of Bollinger Bands. There is a chance of an downward rebound, while its breakout would allow the raise to continue to the area of 108.008 (Murray [5/8]). Alternative scenario. Pullback below 107.422 (Murray [2/8]) could lead the price to 107.307 level. The downward trend will be restored after the price is set below the level of 107.227 (Murray [1/8]). In this case, the next targets of sellers will be the level of 107.031 (Murray [0/8]). Technical indicators reflect the maintenance of the upward correction potential. Bollinger Bands are converging, reflecting the development of the current upward trend. MACD volumes are decreasing in the negative zone. Stochastic’s lines are pointed upwards and are reaching the overbought area.

Support and resistance

Support levels: 107.617, 107.422, 107.227.
Resistance levels: 107.813, 108.008, 108.203.

Trading recommendations

Long positions can be opened above the level of 107.636 with the target at around 107.813 and stop-loss 107.577.
Short positions can be opened below the level of 107.422 with the target at around 107.307-107.227 and stop-loss 107.487.

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GBP/USD: technical analysis 24.09.2019

GBPUSDH424092019.png

Current trend

GBP/USD continues to consolidate in the side channel 1.24122-1.24378. If the sellers manage to decline the rate below the support level of 1.24207 (Murray [3/8]), the downward movement can continue to the area of 1.23901 (Murray [2/8]). Pullback above resistance 1.24512 will let the price to grow to the area of 1.24817 (Murray [5/8]),which coincided with the middle line of Bollinger Bands. The area of 1.24817 can prevent the instrument from growing, as the possibility of the reverse of the price is high there. Meanwhile break of this level can accelerate the pair towards 1.25122 (Murray [6/8]). The technical picture is mixed. Bollinger Bands are pointed sideways. MACD histogram is in the negative zone keeping a signal for the opening of sell positions. Stochastic has left the oversold area and is pointed upwards, reflecting the high possibility of the upward movement formation.

Support and resistance

Support levels: 1.24207, 1.23901, 1.23710.
Resistance levels: 1.24512, 1.24817, 1.25122.

Trading recommendations

Short positions can be opened below the level of 1.24207 with the target at around 1.23901 and stop-loss 1.24307.
Long positions can be opened above the level of 1.24512 with the target at around 1.24817 and stop-loss 1.24412.

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USD/CHF: technical analysis 25.09.2019

USDCHFH425092019.png

Current trend

USD/CHF price is correcting up after the fall to the level of 0.98439. The key target of the correction is the area of 0.98877 (Murray [3/8])-0.98947 which corresponds to 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. Meanwhile, the breakout and pair’s sustained trading above this level will let the price price grow to the level of 0.99048-0.99182 (Murray [4/8]).
Alternative scenario. If USD/CHF cannot consolidate above the level of 0.98746 during short term period, the pullback and retest of the level 0.98572 (Murray [3/8]) are possible. The downward trend will be restored after the price is set below the level of 0.98439. In this case, the next targets of sellers will be the level of 0.98267 (Murray [2/8])-0.98160. The technical picture is mixed. Bollinger Bands are pointed downwards. MACD volumes are slowly decreasing 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: 0.98572, 0.98439, 0.98267.
Resistance levels: 0.98746, 0.98877, 0.99048.

Trading recommendations

Short positions can be opened above the level of 0.98572 with the target at around 0.98439-0.98267 and stop-loss 0.98673.
Long positions can be opened above the level of 0.98746 with the target at around 0.98877-0.99048 and stop-loss 0.98645.

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NZD/USD: technical analysis 25.09.2019

NZDUSDH425092019.png

Current trend

NZD/USD quotes attempted to grow, but reaching 0.63477 (Murray [4/8]) mark moved to a decline. If the sellers manage to decline the rate below the level of 0.63171, the correction can continue to the area of 0.62866 (Murray [2/8]), 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 level of 0.62711-0.62561 (Murray [1/8]). The upward trend will be restored after the price is set above the level of 0.63477. In this case, the next targets of buyers will be the level of 0.63614-0.63782 (Murray [5/8]). The technical picture is mixed. Bollinger Bands are diverging on the background of bullish momentum. The volumes of MACD histogram are slowly 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: 0.63171, 0.62866, 0.62711, 0.62561.
Resistance levels: 0.63477, 0.63614, 0.63782.

Trading recommendations

Short positions can be opened below the level of 0.63171 with the target at around 0.62686 and stop-loss 0.63272.
Long positions can be opened above the level of 0.63477 with the target at around 0.63614-0.63782 and stop-loss 0.63375.

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