Technical analysis from 15 January 2020


Today, NZD / USD was trading in the range of $0.6600-20 and at the time of writing, it fell slightly below the psychological level of $0.6600 reached last week.


Today, USD/JPY is trading in a narrow range of 109.80-110.00 - slightly below the maximum value since the end of May (Y110.20) reached yesterday.


During European trading, USD/CHF declined, reaching a low on December 31 (Chf0.9645), after trading in a narrow range slightly above yesterday's low (Chf0.9665) at the beginning of the session.


Since the beginning of the European session, GBP / USD has fallen to $1.2985 after a slight increase since the beginning of trading to $1.3040. The pair continues to trade near three-week lows.


After falling from the beginning of European trading to $1.1120, EUR / USD made an u-turn and rose to a one-week high of $1.1150. The pair also rose above the MA (200) H1 moving average ($1.1140).


Yesterday, the USD/CAD rose to C$1.3075 in the morning. However, by the end of the bidding, it had lost its previously gained position and dropped to the opening price of the day.


Yesterday AUD/USD traded all day without significant changes in the range of $0.6885-05. This morning Australian currency was also in a narrow range of$ 0.6890-00.


Yesterday, XAU/USD fell during the Asian session to $ 1535, but later recovered and was able to close the day near the opening price of the day.


Yesterday, the price of Brent crude oil slightly increased in the morning to $65.30, but by the end of the day it decreased and closed the day near the opening price.


USD/JPY rose yesterday during the Asian session to Y110.20. However, already during the European and American sessions it was declining and closing the day near the level of opening of the day.


Yesterday, USD/CHF was falling all day and closed the day in the red zone near the level of Chf0.9675. This morning USD/CHF is trading in a narrow range of Chf0.9665-75, staying near weekly lows.


Yesterday, the GBP/USD fell to $1.2955 in the morning and updated the weekly low. However, in the afternoon recovered and closed the day in the green zone.


Yesterday, EUR/USD, pushing off from the resistance line MA 200 H1, fell to the level of $1.1105. In the American session, euro recovered slightly, but closed the day in negative territory.



    Forex analysis is based on monitoring all indicators that affect exchange rate fluctuations. First of all, these are macroeconomic indicators. These include the country's GDP, inflation, interest rates, etc. As a rule, these data are presented in countries' macroeconomic reports. After they are released, the exchange rate may change dramatically. See the economic calendar to learn the frequency of releases of such information.

    Forex technical analysis uses information about exchange rate fluctuations over different time periods. Future exchange rates are forecast based on past or current data on exchange rate fluctuations. This type of analysis of the currency market uses various mathematical forecasting methods to help traders quickly draw conclusions about the situation on the market and make decisions on buying or selling a currency.


    It is not easy for a novice trader to comprehend the wide variety of information coming from Forex and other financial markets. This is when forex analysis, which is provided by major brokers, in particular TeleTrade, comes to the rescue. On the company's website, you will always find forex technical analysis and stock market analysis, as well as fundamental research and forex recommendations. Market analysis is not something a novice can easily do. Therefore, you should only rely on professional research. Thanks to timely and high-quality forex market analytics , you can minimize your risks and make your investments as profitable as possible. You can bet that you will not miss a trend. By the way, it is from professional analysts that you can learn to accurately determine the forex trend, conduct technical analysis of the market and navigate the sea of significant current events in the forex currency market and other markets. The market analysis section is updated daily, so that you can have the whole picture of events.

    Teletrade experts' reports, based on graphical analysis of the dynamics of popular currency pairs and gold, are regularly posted on this page.

    The image combines several types of data: support and resistance lines, trading history, and a candlestick analysis chart . Each reference is accompanied by comments about possible price movements.

    Analytics for various currency pairs are published every 15 minutes. For each tool, a morning and an afternoon reference are available, as well as additional references at night.


    Forex technical analysis is based on three main axioms:

    • Prices include everything

    This implies that all information that can affect the currency exchange rate has already been taken into account, and there is no need to further study the dependence of the exchange rate on political and macroeconomic factors for Forex technical analysis.

    • Price follows the trend

    This axiom means that rates do not change randomly, but follow certain trends or a forex trend. Therefore, time rows of fkuctuations in exchange rates can be divided into intervals, in which the rate moved in one direction, subject to one of the three trends: descending, ascending, or sideways.

    • History repeats

    This axiom means that currency exchange rate fluctuations usually follow a cyclical pattern: rises are followed by recessions, sideways market movements and new rises, and if certain methods of technical analysis have worked in the past, they will work in the future, since they are based on human psychology, which remains unchanged. That is, forex trends tend to repeat themselves.

    The process of technical analysis of the currency market is based on identification of individual trends and (or) so-called patterns—typical chart shapes or formations. Flag, Double Top, and Triple Top are the most famous patterns in technical analysis. The Head and Shoulders formation is a type of a triple top, whose first and the third peaks are lower that the second one. You can also encounter triangular-shaped patterns when analyzing Forex. Based on the identified trends and using various methods of technical analysis, conclusions are drawn about where the currency exchange rate is going, and a decision is made on the best option for entering and exiting a transaction.

    Despite the fact that many currency traders consider it more rational to use technical analysis, in our opinion, one should not rely solely on technical analysis when trading. You should also not limit yourself to only using the fundamental Forex analysis. In reality, correct combination of these two methods is the basis of successful currency trading. Therefore, if you want to earn a high income by trading, you should pay equal attention to both fundamental and technical analysis of Forex.

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