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Technical Overview of EUR/USD, USD/JPY, NZD/USD & USD/CHF: 14.08.2018

By:
Anil Panchal
Updated: Aug 14, 2018, 11:19 UTC

EUR/USD While break of 1.1510-1.1500 dragged the EURUSD to thirteen-month low, the 200-week SMA, at 1.1355 now, is likely offering an intermediate halt to

Technical Overview of EUR/USD, USD/JPY, NZD/USD & USD/CHF: 14.08.2018

EUR/USD

While break of 1.1510-1.1500 dragged the EURUSD to thirteen-month low, the 200-week SMA, at 1.1355 now, is likely offering an intermediate halt to the pair’s south-run towards the 1.1300-1.1280 horizontal-region. In case the quote refrains to respect the 1.1280 rest-point, the 1.1210 and the 1.1120 might entertain the sellers. Alternatively, the 1.1440-50 may restrict the pair’s immediate advances before highlighting the 1.1500-1.1510 support-turned-resistance. Given the buyers’ ability to surpass 1.1510 barrier, the 1.1565-70 and the 1.1680 trend-line could gain their attention.

USD/JPY

USDJPY is presently struggling around resistance-line of short-term “Falling Wedge” formation, at 111.15, in order to justify its strength in targeting the 112.15-20 horizontal-line. However, the 111.50 & the 111.80 can act as buffers during the pair’s rise past-111.15 break. Should prices rally beyond 112.20, the 112.65 and the 113.20 may flash in the Bulls’ radar. If the pair fails to confirm the Bullish pattern, the 110.50 and the formation-support of 110.00 are likely numbers to appear on the chart. Moreover, pair’s sustained downturn below 110.00 could avail the 109.65 and the 109.35 stops prior to visiting the 109.00 round-figure.

NZD/USD

Alike EURUSD, the NZDUSD also broke important support on weekly chart, which in-turn signals brighter chances of its further declines; though, the 0.6555 and the 0.6480 seem currently challenging the Bears, break of which can please the Kiwi pessimists with 0.6460 and the 0.6420 supports. On the upside, the 0.6685-90 might confine the pair’s near-term rise, breaking which the 0.6720, the 0.6780 and the 0.6850 could mark their comeback. Assuming that the pair continue trading northwards after 0.6850, the 0.6950-55 and the 0.7000 psychological magnet can become market favorite ahead of putting 200-week SMA level of 0.7075 forward for traders.

USD/CHF

Even if a month-old descending trend-line indicates the USDCHF’s downside, a bit broader ascending TL number of 0.9885, followed by the 0.9855-50 area, can limit the pair’s adjacent declines. Given the pair’s inability to reverse from 0.9850, the 0.9820, the 0.9800 and the 0.9785 are likely consecutive levels that might prove their importance. Meanwhile, the 0.9960 trend-line is likely a door for the pair’s run to 1.0000 landmark whereas the 1.0010, the 1.0040 and the 1.0070 could try questioning the pair’s strength afterwards.

About the Author

An MBA (Finance) degree holder with more than five years of experience in tracking the global Forex market. His expertise lies in fundamental analysis but he does not give up on technical aspects in order to identify profitable trade opportunities.

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