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XAU/USD: TECHNICAL ANALYSIS 02.07.20
XAUUSDH402072020.png

Current trend

 

On the 4-hour chart, the instrument keeps a downward potential. At the moment the price has met the support at 1765.63 support-line. The breakdown of this level will give a prospect of decline to the 1759.22 mark. This level can prevent the instrument from growing, as the possibility of the reverse of the price is high there. However, its breakdown will be a signal of the downward trend resumption and let the price decline to the 1755.26-1750.00 area.

 

Alternative scenario

 

If the instrument cannot consolidate below the level of 1765.63, the correction to the area of the level of 1775.00 (the middle line of Bollinger Bands) can develop. As the key correction target, this level can stop the upward dynamic. Herewith, the breakout of 1775.00 and a sustained move above 1776.00 will be a signal of the upward trend resumption and give a prospect of growth to the area of 1781.25 resistance-line.

 

Technical indicators

 

Technical indicators maintain a sell signal.

 

Bollinger Bands are diverging on the background of bearish momentum.

 

MACD volumes are decreasing in the positive zone.

 

Stochastic is pointed downwards.

 

Support and resistance

 

Support levels: 1765.63, 1759.22, 1755.26, 1750.00.
Resistance levels: 1775.00, 1781.25, 1788.26.

 

Trading recommendations

 

Short positions can be opened below the level of 1765.63 with the target at around 1760.00 and stop-loss at 1767.50.
Long positions can be opened above the level of 1775.00 with the target at around 1781.25 and stop-loss at 1773.25.

 

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EUR/JPY: TECHNICAL ANALYSIS 02.07.20
EURJPYH402072020.png

Current trend

 

On 4-hour chart, EUR/JPY is trading above the middle line of Bollinger Bands suggesting bullish momentum. At the moment the price has met the resistance at the level of 121.099. Assuming the pair’s ability to cross this mark, the area of 121.289-121.383 can be targeted if holding long positions. This area is a strong resistance area, which can activate a downward reverse of the price. One may speak about upward movement continuation after the price consolidates above the resistance level of 121.484. In this case, the buyers will aim for the 121.856 level.

 

Alternative scenario

 

The downward reverse from the 121.094 could lead the price back to 120.898-120.845 area, which coincided with the middle line of Bollinger Bands. The breakdown of 120.845 and the pair’s sustained trading below 120.703 will be a signal of the downward trend resumption and give a prospect of decline to the area of 120.508-120.313.

 

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: 120.898, 120.703, 120.508, 120.313.
Resistance levels: 121.094, 121.289, 121.484.

 

Trading recommendations

 

Short positions can be opened below the level of 120.703 with the target at around 120.400 and stop-loss at 120.803.
Long positions can be opened above the level of 121.100 with the target at around 121.289-121.400 and stop-loss at 121.000.

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EUR/USD: TECHNICAL ANALYSIS 03.07.20
EURUSDH403072020.png

Current trend

 

On a 4-hour chart, the pair is trading below the middle line of Bollinger Bands, suggesting bearish momentum. The first strong support for the pair is located on the 1.12227 level. The breakdown of this mark will be a signal of the downward trend resumption and let the price decline to the area of 1.12000. This level seems a key bearish target for the short-term period. There is a chance of an upward rebound, while its breakdown would allow the fall to continue to the area of 1.11843-1.11694.

 

Alternative scenario

 

The upward rebound from 1.12227 and pullback above 1.12485 will be a signal of the upward trend formation and give a prospect of the growth to the area of 1.12610-1.12812. Should prices continue growing above 1.12812, the area of 1.12915-1.13021 levels will be a next bullish target.

 

Technical indicators

 

Technical indicators mostly keep a sell signal, but the upward correction is possible in the short term.

 

Bollinger Bands are diverging on the background of bearish momentum.

 

MACD volumes are decreasing in the positive 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: 1.12227, 1.12000, 1.11694.
Resistance levels: 1.12485, 1.12610, 1.12915.

 

Trading recommendations

 

Short positions can be opened below the level of 1.12227 with the target at around 1.12000-1.11930 and stop-loss at 1.12320.
Long positions can be opened above the level of 1.12610 with the target at around 1.12915 and stop-loss at 1.12510.

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USD/CAD: TECHNICAL ANALYSIS 03.07.20
USDCADH403072020.png

Current trend

 

On the 4-hour chart, the instrument keeps a negative dynamic. The price is approaching strong support in the region of 1.35498. There is a chance of an upward rebound, while its breakdown would accelerate the plunge towards 1.35193-1.35000. The lower border of this range can prevent the instrument from falling, as the possibility of the reverse of the price is high there. Meanwhile, the decisive breakdown of 1.35000 and pair’s sustained trading below 1.34888 is needed to indicate the downward trend resumption. In this case, the sellers will aim for the 1.34583 support-line.

 

Alternative scenario

 

If the "bulls" manage to raise the rate above the level of 1.35803, the correction can continue to the area of 1.35950 level around the middle line of Bollinger bands. As the key target of the correction, this mark seems a strong hurdle, which can activate a downward reverse of the price. One may speak about upward movement continuation after the price consolidates above the resistance level of 1.36108. In this case, the next targets of buyers will be the level of 1.36414.

 

Technical indicators

 

Technical indicators mostly keep a sell signal, but the upward correction is possible in the short term.

 

Bollinger Bands are converging on the background of bearish momentum.

 

MACD is 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: 1.35498, 1.35193, 1.34888.
Resistance levels: 1.35803, 1.36108, 1.36414.

 

Trading recommendations

 

Short positions can be opened below the level of 1.35498 with the target at around 1.35193 and stop-loss at 1.35599.
Long positions can be opened above the level of 1.35803 with the target at around 1.36108 and stop-loss at 1.35703.

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USD/CHF: TECHNICAL ANALYSIS 03.07.20
USDCHFH403072020.png

Current trend

 

On the 4-hour chart, the instrument keeps a moderate positive dynamic. At the moment the price has met the resistance at 0.94604. This level can prevent the instrument from growing, as the possibility of the reverse of the price is high there. The upward trend will be restored after the price is set above the level of 0.94757, which is the middle line of Bollinger Bands. In this case, the next targets of buyers will be the level of 0.94910-0.95000.

 

Alternative scenario

 

If the price cannot consolidate above the level of 0.94604, the price can reverse and retest the support level of 0.94452. The breakdown of this level is needed to confirm the downward movement. In this case, the price can decline to the area of 0.94299-0.94255. This area can activate an upward reverse of the price. However, the breakdown of 0.94255 can accelerate the plunge towards 0.94000-0.93842.

 

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 decreasing in the negative zone.

 

Stochastic lines are pointed downwards.

 

Support and resistance

 

Support levels: 0.94452, 0.94299, 0.94147, 0.94000.
Resistance levels: 0.94604, 0.94757, 0.94910, 0.95062.

 

Trading recommendations

 

Short positions can be opened below the level of 0.94452 with the target at around 0.94299-0.94200 and stop-loss at 0.94536.
Long positions can be opened above the level of 0.94757 with the target at around 0.94910-0.95062 and stop-loss at 0.94655.

 

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