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Technical Analysis 2019-09-13

EUR/USD Intraday: 

Bullish

Pivot: 1.1026

Resistance level 1: 1.1126 Resistance level 2: 1.1187 Resistance level 3: 1.1286

Support level 1: 1.0965 Support level 2: 1.0866 Support level 3: 1.0805

Comment: The bears took over during the European trading session breaking yesterday’s second support level of 1.09467, but the bulls managed to gain momentum taking the pair through the first resistance level of 1.10489. If the bulls continue the price could rise to 1.1126 and possibly extend further to 1.1187. If the bears can regain momentum the pair could fall to the price level of 1.0965 and drop further to the second support level of 1.0866.

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USD/JPY Intraday: 

Bullish

Pivot:  107.93

Resistance level 1: 108.34 Resistance level 2: 108.60 Resistance level 3: 109.00

Support level 1: 107.67 Support level 2: 107.26 Support level 3: 106.99

Comment: The pair is trending bullish managing to break yesterday’s second resistance level of 108.08. If the bulls continue, we could see the price rise to 108.34 and possibly break the second resistance level of 108.60. Alternatively, if the trend reverses, we could see the price drop to 107.67 and plummet further to 107.26.

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GBP/USD Intraday

Neutral

Pivot: 1.2327

Resistance level 1: 1.2371 Resistance level 2: 1.2411 Resistance level 3: 1.2455

Support level 1: 1.2288 Support level 2: 1.2244 Support level 3: 1.2204 

Comment: The pair is trending neutral, as the bulls recouped much of yesterday’s losses during the European trading session. If the bears can regain yesterday’s early momentum, we could see the pair break the first support level of 1.2288 and drop further to 1.2244. However, if the price rises to 1.2371, we could see the pair extend to 1.2411 

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AUD/USD Intraday

Neutral

Pivot: 0.6874

Resistance level 1: 0.6887 Resistance level 2: 0.6908 Resistance level 3: 0.6921

Support level 1: 0.6852 Support level 2: 0.6839 Support level 3: 0.6818

Comment: The pair is trending neutral, with the bulls testing yesterday’s first resistance level, before the bears gained momentum. If the bears manage to gather momentum today, we could see the price drop to 0.6852 and possibly fall further to 0.6839. Alternatively, if the price rises to 0.6887 we might see it continue to the price of 0.6908.

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NZD/USD Intraday

Bearish

Pivot: 0.6419

Resistance level 1: 0.6438 Resistance level 2: 0.6470 Resistance level 3: 0.6489

Support level 1: 0.6387 Support level 2: 0.6367 Support level 3: 0.6336

Comment: The pair was initially trending bullish throughout the day, before the bears took over in the European trading session carrying this momentum throughout the day and testing the first support level. If the bears can continue with this momentum, we could see the price of 0.6387 broken, possibly seeing the pair drop further to 0.6367. Alternatively, the bulls could take the price to 0.6438 and possibly further to 0.6470.

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USD/CHF Intraday

Bearish

Pivot: 0.9910

Resistance level 1: 0.9939 Resistance level 2: 0.9976 Resistance level 3: 1.0006

Support level 1: 0.9874 Support level 2: 0.9844 Support level 3: 0.9808

Comment: The pair is trending bearish throughout the day, breaking the second support level of 0.9860, before the trend reversed in the American trading session taking the pair between yesterday’s first and second support level. If the bulls can continue, the price could reach 0.9939 and possibly extend further to 0.9976. Alternatively, if the bears come out in force again, the price could fall to 0.9874 and possibly test the second support level of 0.9844

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USD/CAD Intraday

Neutral

Pivot: 1.3202

Resistance level 1: 1.3228 Resistance level 2: 1.3246 Resistance level 3: 1.3272

Support level 1: 1.3184 Support level 2: 1.3158 Support level 3: 1.3139

Comment Neither the bulls nor the bears were able to gather momentum today, with the pair trending neutral. If the bears can gain momentum, the support level of 1.3184 might be broken and we could see the second support level of 1.3158 tested. However, if the bulls gather momentum, they could break the price of1.3228 and possibly test the second resistance level of1.3246.

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DOW JONES INDEX

Bullish

Pivot: 27195

Resistance level 1: 27286 Resistance level 2: 27403 Resistance level 3: 27494

Support level 1: 27078 Support level 2: 26987                Support level 3: 26870

Comment: The trend of DOW JONES remains bullish but steadier. During the last trading session, the index was not volatile much and closed slightly above the open price. For the further reference, bulls can remain their advantage and may see the region of 27403 if the price breaks the level of 27286. On the other hand, bears may regain momentum if it breaks below the level of 27078 and may see the area of 26987.

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Gold Spot Intraday

Bullish

Pivot: 1504.2

Resistance level 1: 1519.1 Resistance level 2: 1539.2 Resistance level 3: 1554.1

Support level 1:   1484.1 Support level 2: 1469.2               Support level 3: 1449.1

Comment: The trend of gold becomes bullish. In last trading day, the bulls got momentum at first and managed to break up yesterday’s all resistance levels, once bulling the price up to a region of 1523, from where the bears took over and the price retreated to the level of 1499.1, still above the open one.  If the bulls continue to take advantages, we might see the pair break above the first resistance level of 1519.1 and may rise to 1539.2.  Alternatively, if the bears regain momentum and break below the first support of 1484.1, it may see the price of 1469.2.

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Crude Oil Intraday

Bearish

Pivot: 55.08

Resistance level 1: 56.23 Resistance level 2: 57.42 Resistance level 3: 58.57

Support level 1: 53.89 Support level 2: 52.73 Support level 3: 51.55

Comment: The trend of oil remains bearish. During last trading day, the bears took advantage at first and managed to break below yesterday’s first support level. Afterwards, the bulls took over and rallied it up the level of 55.04, but still below the open. For the further reference, the price climbing above 56.23 may see the it rising to 57.42. On the other hand, if it breaks below support of 53.89, it may see the region of 52.73.

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