$USDCAD - BUY at support level

The USDCAD currency pair has reached a critical support level at 1.37321 to 1.37379, with RSI indicator showing a bullish divergence. This suggests that the selling momentum for the currency pair is slowing. Traders may look out for potential buying opportunities. However, if the price breaks below the support level, traders may look for selling opportunities instead.

Resistance: 1.37618
Support: 1.37321

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$XAUUSD - BUY

Based on the FIBONACCI RETRACEMENT strategy, a BUY signal was found at 1,995.33 on the 1-HOUR chart. Traders may monitor for BUY opportunities at this price level.

Take Profit: 2,009.94
Stop Loss: 1,988.6131/10/2023, 15:45

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Post CharlesLew

$GBPJPY - Buy as price fails to break below recent support

The GBPJPY currency pair recently experienced selling pressure and has come to the recent support level of 181.20-181.45. As the price has been consolidating around the support level and has not been able to break below it, it is expected that an upward reversal trend to happen soon. Besides, the RSI indicator is showing a bullish divergence, which further suggests that there is an increase in buying momentum. Traders may monitor for a buying opportunity around the support level.

Support: 181.45
Resistance: 182.45

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$USDCAD - Buyers beware, Downtrend may be comingThe USDCAD currency pair has recently broken above the resistance level of 1.37052 and has been trading near the level without a clear upward trend since the breakout. Yesterday, the price briefly tested the level but did not break below it. However, the RSI indicator showing a hidden bearish divergence suggests a reversal may be coming.

Traders planning to buy this counter may need to monitor carefully on possible reversal trends. If the price is confirmed to break below the 1.37052 level, traders may monitor for SELL opportunities.

Overall, there is a high chance that the price movement is heading downtrend.

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$USDCAD - SELL

The USD/CAD currency pair has reached a 2-week high area, near the trend line and resistance zone. Besides, the RSI indicator shows that the pair is trading in an overbought zone and the MACD indicator shows a bearish divergence. These indicate that there are high probability that the price will be reversing to downtrend soon. Traders may monitor for SELL opportunities around 1.3735 area.

Support: 1.3628
Resistance: 1.3735

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$GBPAUD - BUY when the price fails to break below the support level

The GBPAUD has come to the support level of 1.92031 to 1.92235. As the price momentum is still in a bullish trend, a rebound is expected as the price moves near the support level. Traders may monitor for a BUY opportunity as long as the price does not break below it.

Support: 1.92235
Resistance: 1.93347

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$GBPJPY - Short-term Sell

The GBPJPY currency pair has reached the resistance level at 182.86 - 183.11. The pair has tested the level a few times in the past 2 weeks but failed to break above. Today, the price has re-tested the resistance level again with a double-top formation found and the RSI indicator hovering around the overbought zone. These suggest a high potential that the price movement will turn bearish. Traders may monitor for a short-term SELL opportunity.

Support: 183.11
Resistance: 182.34

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$GBPJPY - Buy

The GBPJPY currency pair recently has experienced a corrective pullback after reaching a recent high of 182.996 and has rebounded from the golden level of 0.5 - 0.618 based on the Fibonacci Retracement strategy. As long as the recent low of 180.875 is not broken, the currency pair will still be considered to be in an uptrend. Hence, traders may capture a BUY opportunity from this corrective pullback.

Support: 180.875
Resistance: 182.996

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$USDJPY - Buy with RSI bullish divergence

The USDJPY currency pair has rebounded from the recent low of 148.33. Besides, the RSI indicator shows a bullish divergence suggesting that the buying momentum has been on the rise. Traders may monitor to BUY the currency pair.

Support: 148.783, 149.095
Resistance: 148.33

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$USDCAD - SellThe USDCAD currency pair is seen to lose its bullish momentum as the price trades near the resistance level of 1.3585. The RSI indicators showing a bearish divergence suggest that the upward momentum has reduced. Traders may monitor for a SELL opportunity when the price drops further below the resistance level. Support: 1.35394Resistance: 1.3585

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$USDJPY - Sell as price failed to break above the resistance level

The USDJPY currency pair was in a bullish trend the past week, but have failed to break above the critical resistance level of 148.469, suggesting that the price may reverse to bearish trend. Besides, the bullish divergence found in the RSI indicator further confirm the potential of a bearish trend.

Support: 148.227 (which coincide with FBI retracement 0.236 level)
Resistance: 148.469

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$XAUUSD - SELLBased on the RSI DIVERGENCE strategy, a SELL signal was found at 1,933 - 1,935 on the 1-HOUR chart. Traders may monitor for SELL opportunities at this price level.Take Profit: 1930Stop Loss: 193619.09.2023, 11:00 AM

Post CharlesLew

$XAUUSD - Sell when double top formation confirmed

XAUUSD pair has reached a critical resistance level of 1929.34. This level has been reached multiple times in the past 2 weeks but it has failed to break above, suggesting that the resistance level is strong. Besides, the RSI indicator has shown a bearish divergence. Traders may monitor for SELL opportunities once the double-top pattern is formed at the resistance level.

Support: 1923.43
Resistance: 1929.34

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$GBPJPY - Monitor for BUY at trendline support level

The GBP/JPY currency pair saw a strong uptrend from late July into August, but this momentum waned after failing to break resistance at 184.40, leading to a retreat guided by a short-term trendline. Currently, the pair is above a critical support level at 183.70. Should this support fail, selling pressure may escalate, targeting the psychological support at 183.30, with a potential breakdown exposing the 183.00 level. Conversely, a decisive move above resistance at 183.7 could reinforce bullish sentiment, potentially propelling GBP/JPY toward higher points than the resistance level.

Resistance: 184.40
Support: 183.70, 183.30

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$XAUUSD - Buy as the price firms above the SMA 50 trend line and resistance level.

XAUUSD's price has recently broken above the SMA 50 trend line and the resistance level at 1,923.63, which both will then turn to become support levels for the pair. Once the price manages to stand firm above these levels, it will confirm a bullish trend continuation. Traders may find buy opportunities around this level.

Support: 1,923.63, SMA 50 trend line
Resistance: 1,927.49

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$USDCAD - BUY

Strategy: Hanging Man candlestick, failed to break below the support level of 1.36556
Price range: 1.36556 - 1.36602
Support: 1.36556
Resistance: 1.36871

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Post CharlesLew

$XAUUSD - SELL

Strategy: Double Top, failed to break the resistance level of 1927.52
Price range: 1925.13 - 1927.52
Support: 1921.11
Resistance: 1927.52

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Post CharlesLew

$AUDUSD - Short term buy as price retest demand zone the 4th time

AUDUSD price has retested the demand zone for the 4th time with the Stochastic RSI line at the oversold zone. With the price still below SMA 50 trend line, traders may monitor for a short-term BUY opportunity at the demand zone level.

Support: 0.63567
Resistance: 0.63841

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$XAUUSD - Buy at the demand zone

XAUUSD pair has again reached the demand zone at 1,934.84 - 1,935.65 suggesting that the pair may be turning upward. Besides, the bullish divergence found on the MACD and Stochastic RSI indicators helps further confirm a potential bullish reversal. Traders may monitor for a BUY opportunity around the demand zone.

Support: 1,934.84
Resistance: 1,938.83

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$USDJPY - Buy as price enters brief correction

The USDJPY recently experienced a bullish momentum after a slowdown yesterday. The MACD and Stochastic RSI indicators have both shown a bullish divergence as the price rises near the SMA 20 trend line in the 30-minute chart. Traders may find BUY opportunities as the price is now experiencing a correction.

Resistance: SMA trend line
Support: 144.935, 144.640

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$XAUUSD - Buy momentum slowing

XAUUSD bearish momentum has slowed as it reached the previous resistance level of 1,920.76. Besides, the MACD indicator has shown a bearish divergence and the Stochastic RSI indicator has reached the overbought zone. Long traders may watch out for possible pullback on this pair, while short traders may find short-term SELL opportunities.

Resistance: 1,920.76
Support: SMA trend lines

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$XAUUSD - Sell as retracement momentum slows

XAUUSD pair has reached near the SMA 50 trend line on the 30-minute chart. Given the recent bearish momentum and no major news to signal a trend reversal, the pair is expected to continue its mid to long-term downtrend. Besides, the Stochastic RSI indicator has reached the overbought zone, showing a high potential for a downward trend. Traders can monitor to sell this pair as long as it does not break above the SMA 50 trend line.

Resistance: SMA 50 trend line
Support: 1,886

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$GBPUSD - Buy opportunities based on divergence theories

The GBPUSD currency pair is currently consolidating around the 1.27174 price level. There are bullish divergences found in both the MACD and Stochastic RSI indicators, suggesting that the currency pair is preparing for an upward breakout. Traders may find BUY opportunity when the price pulls back down, as long as the price does not break below the support level.

Resistance: 1.27394, SMA 50 trendline
Support: 1.27034, 1.26820

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$GBPJPY - Look out for selling momentum

The GBPJPY currency pair has been consolidating since 31/7/2023. However, there is an obvious bearish divergence formed in the MACD momentum indicator. This suggests that the buying momentum is slowing down and traders may monitor for a possible bearish trend in the near future.

Support: 183.592
Resistance: 183.217

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$XAUUSD - BUY on correction

The XAU/USD pair has been in the bullish trend since 26/7/2023 and has reached a weekly high point. The recent trend reversal is viewed as a short-term correction. Traders may monitor for buy opportunity as the pair corrects lower to the support level at the Bollinger Bands Mid-line (at 1,974). Next support level will be the SMA 50 trend line.

Support: Bollinger Bands mid-line, SMA 50 trend line
Resistance: 1,984

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$USDJPY - Buy on rebound

The USDJPY currency pair has come near the SMA 50 trendline. If the price did not break below the SMA 50 trendline, it will suggest that the uptrend momentum is still intact. Besides, a bullish divergence is observed in the MACD indicator and the Stochastic RSI indicator is in an oversold zone. These suggest that the market may prepare for a rebound. Traders may monitor for buying opportunities.

Support: SMA 50 trendline
Resistance: 141.637

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$XAUUSD - Short-term sell opportunity

The up-trending XAU/USD pair has experienced a resistance to break above the resistance level of 1939.52. Besides, the MACD indicator is showing a bearish divergence, suggesting that the buying momentum has slowed down. This presents a short-term sell opportunity for traders.

Support: 1934.85, SMA 20 trend line
Resistance: 1939.52

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$USDJPY - short-term SELL opportunity

The Japanese Yen has attracted some sellers for the second consecutive day. Investor sentiment is being weighed down by concerns over economic headwinds caused by the sharp increase in borrowing costs and the deteriorating relations between the United States and China. This has led to a generally weaker tone in the equity markets as worries persist.

On the 30-minute time frame chart, USD/JPY currency pair has been in a downtrend since the sell-down started yesterday. SMA 20 trend line crossed below SMA 50 trend line. The chart presents a short-term SELL opportunity as the price edge around the SMA 20 trend line. With the downward pressure, the price may be pushed down slightly further when it reached around the SMA 20 trend line. This creates an opportunity for short-term traders to SELL and lock in some profit.

Support level: 143.873
Resistance level: 144.236

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USD/JPY - Upward momentum reduced, short-term correction likely

Blog Technical analysis on CFDs

The $AUDUSD pair struggled to maintain its initial gains and is trading near 0.6800 in early Thursday morning, reflecting market uncertainty following mixed signals from US Federal Reserve Chairman Jerome Powell and China. The pair rebounded on Wednesday, indicating a possible end to the correction from previous highs, and is currently above key SMAs on the daily chart. Technical indicators on the 4-hour chart support the Aussie, but it needs to hold above 0.6800 and surpass the 20-period SMA and downtrend line around 0.6815/20 for further gains towards 0.68360. However, if it fails to hold above 0.6800, the pair may continue in corrective mode, with potential sell targeting 0.6720 after breaking the support at 0.6783.

Support level: 0.6783, 0.6720
Resistance level: 0.68059, 0.68360

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