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Technical Analysis 2019-09-16

EUR/USD Intraday: 


Pivot: 1.1080

Resistance level 1: 1.1105 Resistance level 2: 1.1134 Resistance level 3: 1.1159

Support level 1: 1.1050 Support level 2: 1.1025    Support level 3: 1.0996

Comment: The trend of EUR/USD remains bullish. During last trading session, the pair was not experiencing much volatile and never attempted to break any resistance or support level, closing slightly above the open. If the bulls remain the advantages, the pair could rise to the level of  1.1105 and may see the 1.1134 region. If the bears can regain momentum the pair could fall to the price level of 1.1050 and drop further to the second support level of 1.1025.


USD/JPY Intraday: 


Pivot:  108.09

Resistance level 1: 108.28 Resistance level 2: 108.44 Resistance level 3: 108.63

Support level 1: 107.92 Support level 2: 107.73 Support level 3: 107.57

Comment: The pair continues enjoying upside momentum on the daily chart and is moving above the 100-day Simple Moving average. If the bulls continue, we could see the price rise to 108.28 and possibly break the second resistance level of 108.44. Alternatively, if the trend reverses, we could see the price drop to 107.92 and plummet further to 107.73.


GBP/USD Intraday


Pivot: 1.2444

Resistance level 1: 1.2563 Resistance level 2: 1.2623 Resistance level 3: 1.2742

Support level 1: 1.2384 Support level 2: 1.2265 Support level 3: 1.2205 

Comment: The pair is trending bullish. During last trading session, the bulls got strong momentum and the price managed to break all resistance levels, closing at 1.2504, 179 points above the open. If the pair rises to 1.2563, we may see the price extend to 1.2623. However, if bears can regain momentum, we could see the pair break the first support level of 1.2384 and drop further to 1.2265.


AUD/USD Intraday


Pivot: 0.6877

Resistance level 1: 0.6895 Resistance level 2: 0.6908 Resistance level 3: 0.6926

Support level 1: 0.6863 Support level 2: 0.6845 Support level 3: 0.6832

Comment: The pair is trending bullish, with the price testing last trading session’s first resistance level, closing at 0.6881, 19 points above the open. If the bears manage to gather momentum today, we could see the price drop to 0.6863 and possibly fall further to 0.6845. Alternatively, if the price rises to 0.6895 we might see it continue to the price of 0.6908.


NZD/USD Intraday


Pivot: 0.6386

Resistance level 1: 0.6400 Resistance level 2: 0.6423 Resistance level 3: 0.6437

Support level 1: 0.6362 Support level 2: 0.6348 Support level 3: 0.6325

Comment: The pair is trending bearish. During last trading day, the price was initially steady before the bears got momentum in the European trading session and managed to break below the first support level. If the bears can continue with this momentum, we could see the price of 0.6362 broken, possibly seeing the pair drop further to 0.6348. Alternatively, if the bulls regain advantage, the price might rise to 0.6400 and possibly go further to 0.6423.


USD/CHF Intraday


Pivot: 0.9888

Resistance level 1: 0.9922 Resistance level 2: 0.9945 Resistance level 3: 0.9979

Support level 1: 0.9866 Support level 2: 0.9832 Support level 3: 0.9809

Comment: The pair is still trending bearish. During last trading day, the bears gathered momentum at first and managed to break below the first support of that day. Then the bulls took over but failed to recoup all the previous lost. If the bulls can continue, the price could reach 0.9922 and possibly extend further to 0.9945. Alternatively, if the bears come out in force again, the price could fall to 0.9866 and possibly test the second support level of 0.9832.


USD/CAD Intraday


Pivot: 1.3256

Resistance level 1: 1.3310 Resistance level 2: 1.3338 Resistance level 3: 1.3392

Support level 1: 1.3228 Support level 2: 1.3174 Support level 3: 1.3147

Comment: The trend of this pair turns to bullish. During last trading day, the bulls gathered momentum throughout the day and managed to break above all the resistance levels. If the bulls can continue, they may break the price of 1.3310 and possibly test the second resistance level of 1.3338. Alternatively, If the bears can gain momentum, the support level of 1.3228 might be broken and we could see the second support level of 1.3174 tested. 




Pivot: 27229

Resistance level 1: 27285 Resistance level 2: 27360 Resistance level 3: 27415

Support level 1: 27155 Support level 2: 27099                Support level 3: 27024

Comment: The trend of DOW JONES remains bullish. During the last trading session, the bulls took advantage after the market opened and the first resistance level of that day was tested. Then the bears got momentum and dragged the price back to the level of 27210, slightly above the open. For the further reference, bulls can remain their advantage and may see the region of 27360 if the price breaks the level of 27285. On the other hand, bears may regain momentum if it breaks below the level of 27155 and may see the area of 27099.


Gold Spot Intraday


Pivot: 1494.4

Resistance level 1: 1503.1 Resistance level 2: 1517.7 Resistance level 3: 1526.4

Support level 1:   1479.9 Support level 2: 1471.2               Support level 3: 1456.6

Comment: The trend of gold becomes bearish. In last trading day, the bulls got momentum at first and once bulled the price up to a region of 1509, from where the bears took over and engulfed all the previous gain, with the price closing at 1488.6. If the bears continue to take advantages, we might see the pair break below 1479.9 and may drop further to 1471.2.  Alternatively, if the bulls regain momentum and break above the first resistance of 1503.1, it may see the price of 1517.7.


Crude Oil Intraday


Pivot: 54.90

Resistance level 1: 55.46 Resistance level 2: 56.15 Resistance level 3: 56.71

Support level 1: 54.21 Support level 2: 53.65 Support level 3: 52.95

Comment: Basing on the daily chart, the trend of crude oil is neutral. During last trading day, the price never tested any resistance or support level. For the further reference, the price climbing above 55.46 may see the it rising to 56.15. On the other hand, if it breaks below support of 54.21, it may see the region of 53.65.



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