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Technical Analysis

21 January 2020
  • 06:19

    Brent oil continues to adjust

    Yesterday, the price of Brent crude oil was trading in the range of $65.05-75, without showing significant changes. This morning, oil fell slightly to $64.90. In general, oil is still continuing to adjust to the general downtrend of January 8th. On the hourly chart, Brent is trading below the MA (200) H1 moving average ($65.65). On the four-hour chart, the situation is similar.

    • Resistances levels are at: $66.30-60, $68.50, $69.55

    • Support levels are at: $63.75-05, $62.40, $60.90

    The publication of analysis is a marketing communication and does not constitute recommendation, investment advice or research by TeleTrade. Analysis is not prepared in accordance with legal requirements promoting independent investment research. It is intended solely for informational and educational purposes and shall not be understood as an offer or solicitation to buy or sell financial instruments. Indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.

  • 06:00

    USD/JPY to form a correction

    Yesterday, USD/JPY was trading all day in the range of Y110.10-20, remaining at monthly highs. This morning the USD/JPY fell to Y109.90. Thus, the USD/JPY began to form a correction to the general uptrend of January 8. On the hourly chart, the USD/JPY is still trading above the moving average level MA (200) H1 (Y109.85), however, it has already come very close to it. On a four-hour chart, is held significantly above MA 200 H4 (Y109.20).

    • Resistances levels are at: Y110.30-35, Y110.65, Y110.95

    • Support levels are at: Y109.80, Y109.45, Y109.00

    The publication of analysis is a marketing communication and does not constitute recommendation, investment advice or research by TeleTrade. Analysis is not prepared in accordance with legal requirements promoting independent investment research. It is intended solely for informational and educational purposes and shall not be understood as an offer or solicitation to buy or sell financial instruments. Indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.

  • 05:43

    USD/CHF is testing MA 200 H1

    Yesterday, USD/CHF was trading in the range of Chf0.9670-95 and closed the day without significant changes, near the opening price of the day. This morning the USD/CHF was trading in a narrow range of Chf0.9670-85, remaining near the level of yesterday's close. On the hourly chart, USD/CHF approached the resistance line of the moving average MA (200) H1 (Chf0.9695) and is testing this level for strength for the second day in a row. On the four-hour chart, USD CHF also remains well below MA (200) H4 (Chf0.9775).

    • Resistances levels are at: Chf0.9710, Chf0.9735, Chf0.9760

    • Support levels are at: Chf0.9645, Chf0.9615, Chf0.9500

    The publication of analysis is a marketing communication and does not constitute recommendation, investment advice or research by TeleTrade. Analysis is not prepared in accordance with legal requirements promoting independent investment research. It is intended solely for informational and educational purposes and shall not be understood as an offer or solicitation to buy or sell financial instruments. Indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results

  • 05:20

    GBP/USD forms a correction

    Yesterday, the GBP/USD fell to $1.2960 in the morning. However, already during the European session it began to recover sharply and managed to close the day in the green zone near the level of $1.3005. Today the pound is trading in a narrow range of $1.2995-05, remaining near yesterday's closing price. Thus, the GBP/USD began to form a correction to the general downtrend of January 17. On the hourly chart, the British currency is still trading below the MA (200) H1 moving average line ($1.3030). On the four-hour chart, the situation is similar.

    • Resistances levels are at: $1.3030, $1.3055, $1.3115

    • Support levels are at: $1.2955-60, $1.2905-20, $1.2880

    The publication of analysis is a marketing communication and does not constitute recommendation, investment advice or research by TeleTrade. Analysis is not prepared in accordance with legal requirements promoting independent investment research. It is intended solely for informational and educational purposes and shall not be understood as an offer or solicitation to buy or sell financial instruments. Indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.

  • 05:19

    EUR/USD remains under pressure

    Yesterday, the EUR/USD fell to the level of $1.1075, updating the weekly low. Later, the couple managed to recover slightly and close the day near the opening price. This morning, the euro was trading in a narrow range of $1.1085-95, remaining near yesterday's closing price. On the hourly chart, the euro is still below the MA (200) H1 moving average line ($ 1.1120). On a four-hour chart, a similar situation.

    • Resistance levels are at: $1.1115-20, $1.1140, $1.1170

    • Support levels are at: $1.1065-75, $1.1040, $1.1005

    The publication of analysis is a marketing communication and does not constitute recommendation, investment advice or research by TeleTrade. Analysis is not prepared in accordance with legal requirements promoting independent investment research. It is intended solely for informational and educational purposes and shall not be understood as an offer or solicitation to buy or sell financial instruments. Indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.

21 January 2020

All posted material is a marketing communication solely for informational purposes and reliance on this may lead to loss. Past performance is not a reliable indicator of future results. Please read our full disclaimer.

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