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Technical Analysis 2019-09-17

EUR/USD Intraday: 


Pivot: 1.1026

Resistance level 1: 1.1059 Resistance level 2: 1.1119 Resistance level 3: 1.1153

Support level 1: 1.0966 Support level 2: 1.0933    Support level 3: 1.0873

Comment: The pair was trending bearish throughout the day, breaking the first support level of 1.1050 during the European trading session, and continued through the second support level, testing the third support level, before momentum was lost. If the bears can continue, the price could fall to 1.0966 and possibly extend lower to 1.0933. Alternatively, if the bulls come out in force again, the price could rise to 1.1059 and possibly test the second resistance level of 1.0933


USD/JPY Intraday: 


Pivot:  107.85

Resistance level 1: 108.25 Resistance level 2: 108.49 Resistance level 3: 108.89

Support level 1: 107.61 Support level 2: 107.21 Support level 3: 106.97

Comment: The pair opened near the third support level; the bulls managed to recoup their early losses throughout the day allowing the pair to trade near Fridays closing price. If this upwards momentum continues, we could see the pair rise to 108.25 and extend further to the price of 108.49. On the other hand, if momentum is lost and the pair trends downwards, the price could fall to 107.61 and possibly break the second support of 107.21.


GBP/USD Intraday


Pivot: 1.2443

Resistance level 1: 1.2486 Resistance level 2: 1.2547 Resistance level 3: 1.2590

Support level 1: 1.2383 Support level 2: 1.2339 Support level 3: 1.2279 

Comment: The pair is trending neutral, with neither the bulls nor the bears gaining any momentum. If the bulls can gather steam and break the first resistance level of 1.2486, the pair could continue further to 1.2547. Alternatively, if the bears gain momentum, the price could drop to 1.2383 and possibly plummet further to 1.2339.


AUD/USD Intraday


Pivot: 0.6877

Resistance level 1: 0.6881 Resistance level 2: 0.6897 Resistance level 3: 0.6911

Support level 1: 0.6851 Support level 2: 0.6838 Support level 3: 0.6821

Comment: The pair was initially trending bearish before the bulls took over landing the pair to trend neutral. If the bulls can regather this momentum today, we could see the price of 0.6881 broken, possibly seeing the pair rise further to 0.6897. Alternatively, the bears could take the price to 0.6851 and possibly further down to 0.6838.


NZD/USD Intraday


Pivot: 0.6359

Resistance level 1: 0.6376 Resistance level 2: 0.6409 Resistance level 3: 0.6427

Support level 1: 0.6326 Support level 2: 0.6308 Support level 3: 0.6275

Comment: The pair continued to trend bearish breaking the second support level of 0.6348 during the European trading session. If this downwards momentum continues, we could see the pair drop to 0.6326 and possibly fall further to 0.6308. Alternatively, the bulls could reverse yesterday’s trend, taking the price to 0.6376 and possibly increasing further to 0.6409.


USD/CHF Intraday


Pivot: 0.9910

Resistance level 1: 0.9956 Resistance level 2: 0.9985 Resistance level 3: 1.0031

Support level 1: 0.9880 Support level 2: 0.9835 Support level 3: 0.9805

Comment: The pair is trending bullish breaking yesterday’s first resistance level of 0.9922. If this trend continues the first resistance level of 0.9956 might be broken, possibly seeing the price further to 0.9985. If the bears reverse this trend, the price could drop to 0.9880 and possibly fall further to 0.9835.


USD/CAD Intraday


Pivot: 1.3240

Resistance level 1: 1.3271 Resistance level 2: 1.3302 Resistance level 3: 1.3332

Support level 1: 1.3209 Support level 2: 1.3179 Support level 3: 1.3148

Comment: The bulls lost momentum today, with the pair trending neutral. If the bulls can regain momentum, we could see the first resistance level of 1.3271 broken and see the price rise further to 1.3302. If the price drops to the first support level of 1.3209, we could see the pair fall further to 1.3179.




Pivot: 27088

Resistance level 1: 27180 Resistance level 2: 27254 Resistance level 3: 27346

Support level 1: 27014 Support level 2: 26922                Support level 3: 26848

Comment: The trend of DOW JONES became neutral during the last trading session, the index was opened with a downward trend and all support levels were tested, before it bounced up and recouped the loss, closing slightly above the open. For the further reference, bulls may regain momentum and may see the region of 27254 if the price breaks the level of 27180. On the other hand, if the price breaks below the support level of 27014 and may see the area of 26922.


Gold Spot Intraday


Pivot: 1502.1

Resistance level 1: 1508.3 Resistance level 2: 1518.3 Resistance level 3: 1524.5

Support level 1: 1492.0      Support level 2: 1485.8               Support level 3: 1475.8

Comment: The trend of gold remains bearish. In last trading day, gold was opened as high as 1504.2 and once broke the first resistance level, but bears regained the momentum afterward and dragged the price down to 1498.3. If the bears continue to take advantages, we might see the pair break below 1492.0 and may drop further to 1485.8.  Alternatively, if the bulls regain momentum and break above the first resistance of 1508.3, it may see the price of 1518.3.


Crude Oil Intraday


Pivot: 61.11

Resistance level 1: 63.64 Resistance level 2: 65.64 Resistance level 3: 68.18

Support level 1: 59.11 Support level 2: 56.57 Support level 3: 54.57

Comment: The trend of crude oil becomes bullish. It was opened as high as 59.61, above all the resistance levels, then the price went further up to a level of 61.64. For the further reference, the price climbing above 63.64 may see the it rising to 65.64. On the other hand, if it breaks below support of 59.11, it may see the region of 56.57.



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