USD/JPY continues selling pressure after a retest at level 104.80

USD/JPY continues selling pressure after a retest at level 104.80

Key Resistance Levels: 111.000, 112.000, 113.000
Key Support Levels: 104.000, 103.000, 102.000

USD/JPY Price Long-term Trend: Bearish
The USD/JPY pair is on a downward move. A green candle body tested a 50% Fibonacci retracement level. The Yen will fall and reach a low of 2.0 Fibonacci extension level. In other words, the downtrend will extend to the low of level 103.50.

USD/JPY – Daily Chart

Daily Chart Indicators Reading:
The 50-day SMA and 21-day SMA are sloping downward indicating the bearish trend. The Yen is currently at level 32 of the daily Relative Strength Index. This indicates that the market is approaching the oversold region and below the centerline 50.

USD/JPY Medium-term Trend: Bearish
On the 4-hour chart, the Yen was earlier in a sideways trend between level 105.30 and 106.50. The current downtrend reaches the low of level 104.00. Buyers pushed price upward but it retested 104.800 and resumed the downward move. The downtrend is likely to continue.

USD/JPY – 4 Hour Chart

4-hour Chart Indicators Reading
The Yen is currently below the 80% range of daily stochastic. It is in a bearish momentum. The SMAs are sloping downward indicating the downtrend.


General Outlook for USD/JPY
The USD/JPY pair is now in a downward move. According to the Fibonacci tool, the Yen will fall and reach a level at 2.0 Fibonacci extension level. That is, the pair will reach level 103.50.



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S&P 500 Stays Mildly Heavy After a Bearish Run Beneath 3318 Level

S&P 500 Stays Mildly Heavy After a Bearish Run Beneath 3318 Level

S&P 500 Price Analysis – September 22

The S&P 500 increases to 3301 levels up 0.33% on a day, during early Tuesday. In doing so, the equity derivative rises from the 5th day in a row plunge. The S&P 500 plummeted further in the previous day as fears of the coronavirus (COVID-19) resurgence roiled the global markets.

Key Levels
Resistance Levels: 3400, 3350, 3318
Support Levels: 3192, 3118, 3000
S&P 500 Long term Trend: Bullish
The S&P 500 has managed to depart from its daily lows. The S&P 500 is up 0.33% and down about 9% from its all-time high set at the beginning of this month. If the index fails to close the day above the moving average 5 and 13, which is currently seen above the level at 3318, the selling pressure could remain intact.

The MA 5 and MA 13 seem to have formed a strong resistance in the 3318-3350 area. On the downside, 3192 (psychological level) aligns with the ascending trendline as key support. A daily close below that level could force the index to extend its slide toward the 3118 levels.
S&P 500 Short term Trend: Bearish
On the 4-hour time frame, although the S&P 500 index is looking ready to recoup previous losses, buying exposure may not increase unless the price overcomes the 3318 barriers. In the event, the market pulls back below the 4-hour moving average 13, and the ascending trendline support, it may open towards the 3192 floors.

The RSI has posted higher lows, indicating an improving short-term bias. However, any additional upside correction may not be attractive enough unless the index jumps past the 3350 levels. However, if the bears win the battle at this point, a more aggressive sell-off may prevail.

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USDCHF Increases for the 3rd Day in a Row Towards 0.9181 Level

USDCHF Increases for the 3rd Day in a Row Towards 0.9181 Level

USDCHF Price Analysis – September 22

USDCHF increases for the 3rd day in a row as the pair remains mildly bid while trading near 0.9160 level on Tuesday. The pair is aiming to breach upwards the 0.9181 level in the present session.

Key Levels
Resistance Levels: 0.9902, 0.9467, 0.9200
Support Levels: 0.9050, 0.8845, 0.8639
USDCHF Long term Trend: Bearish
The pair bulls successfully broke the descending trendline amid bullish RSI conditions but the horizontal resistance line 0.9181 level seems to limit the immediate upside. Even if the quote closes beyond the resistance level of 0.9181, a seven-week-old resistance line near 0.9198 level may question further upside by USDCHF.

On the contrary, a downside break of moving average 5 and 13, currently around 0.9116 level, will not be enough to recall the sellers as there are multiple supports adjacent to 0.9050/45 levels that also includes September 10 bottom.
USDCHF Short term Trend: Ranging
Range trading continues in USDCHF and intraday bias remains to the upside. On the downside, a break of 0.8998 level will resume a larger downtrend. Nevertheless, a break of 0.9200 level will resume the rebound towards 38.2% retracement of 0.9902 to 0.8998 at 0.9321 level.

The sustained trading below 100% projection of 1.0342 to 0.9181 from 1.0231 at 0.9050 level will pave the way to 138.2% projection at 0.8639 level. On the upside, a break of the 0.9370 resistance level is needed to be the first sign of medium to short term bottoming.

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Litecoin (LTC) Plunges to $41 Low, May Resume Upward Move

Litecoin (LTC) Plunges to $41 Low, May Resume Upward Move

Key Highlights
The bears broke the range-bound movement as price reaches the low of $39
Litecoin will reverse at the low of $39

Litecoin (LTC) Current Statistics
The current price: $43.68
Market Capitalization: $2,861,261,200
Trading Volume: $2,310,511,995
Major supply zones: $70, $80, $90
Major demand zones: $50, $30, $10

Litecoin (LTC) Price Analysis September 22, 2020
Following the last bearish impulse on September 3, LTC has been range-bound between $45 and $51. Yesterday, the bears broke the range-bound movement as the coin dropped to $41 low. With this breakdown, the coin may reach a low of $39 before resuming an upward move.Alternatively, the coin may rebound and resume the upward move. Buyers are expected as price approaches the oversold region.

LTC/USD – Daily Chart

Litecoin (LTC) Technical Indicators Reading
LTC is below 25 % of the daily stochastic. It indicates that the coin is in a bearish momentum. LTC is in the bearish trend zone as the price is below the EMAs. The coin will fall as long as the price is below the EMAs.

LTC/USD – Daily Chart

Conclusion
Litecoin has fallen to $41 after breaking the $45 support. According to the Fibonacci tool, the retraced candle body tested the 78.6% Fibonacci retracement level. This implies that the crypto will fall and reach the 1.272 Fibonacci extension level or $39 low. The altcoin will reverse when price reaches that level.


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Germany 30 (DE30EUR) Plunges to Level 12495, May Resume Downtrend

Germany 30 (DE30EUR) Plunges to Level 12495, May Resume Downtrend

Key Resistance Zones: 13600, 14000, 14400
Key Support Zones: 11200, 10800, 10400

Germany 30 (DE30EUR) Long-term Trend: Ranging
The index is range-bound between levels 12200 and 13200. Buyers face rejection at level 13200. The index has been fluctuating for over three months. The index has plunged to the lower price range.

DE30EUR – Daily Chart

Daily Chart Indicators Reading:
Presently, the SMAs are sloping horizontally indicating the sideways move. The index is at level 39 of the Relative Strength Index period 14. This indicates that the market is in the downtrend zone and below the centerline 50.

Germany 30 (DE30EUR) Medium-term Trend: Bearish
On the 4- hour chart, the index is in a downward move. The index faces rejection at level 13200 as it plunges to level 12494. The price fell to the oversold region of the market. Buyers are likely to emerge.

DE30EUR – 4 Hour Chart

4-hour Chart Indicators Reading
The market is below the 20% range of the daily stochastic. It indicates that the market is in a bearish momentum. Meanwhile, the 50-day SMA and the 21-day SMA are sloping downward indicating the downtrend.

General Outlook for Germany 30 (DE30EUR)
DE30EUR is fallen to the lower price range. A break below the lower range will signal the resumption of the downtrend. The index is trading now at the support line of the channel.



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EUR/CHF Is in a Sideways Trend, Resumes Uptrend

EUR/CHF Is in a Sideways Trend, Resumes Uptrend

Key Resistance Levels: 1.0800, 1.0900, 1.1000
Key Support Levels: 1.0600, 1.0500, 1.0400

EUR/CHF Price Long-term Trend: Ranging
EUR/CHF is in a sideways trend. The market is fluctuating between level 1.0750 and 1.0850. The pair is now trading at a lower level of 1.0755. The sideways trend has been ongoing since July. A bullish trend is drawn showing the support levels of the market. The pair will resume a downtrend if price breaks below the trend line.

EUR/CHF – Daily Chart

Daily Chart Indicators Reading:
The pair is at level 47 of the Relative Strength Index period 14. It implies that the market is in the downtrend zone and above the centerline 50. The 50-day SMA and 21-day SMA are sloping upward. It indicates the sideways trend.

EUR/CHF Medium-term Trend: Ranging
On the 4-hour chart, the pair fell to 1.0760 and resume an upward move. A red candle body tested the 50% Fibonacci retracement level. It indicates that the pair will reach the level 2.0 Fibonacci extension level. That is the high of 1.0870.

EUR/CHF – 4 Hour Chart

4-hour Chart Indicators Reading

The 50-day and 21-day SMAs are sloping sideways indicating the previous trend. The pair is below the 80% range of the daily stochastic. It indicates that the market is in a bearish momentum.

General Outlook for EUR/CHF
EUR/CHF is in a sideways move below level 1.0850. The pair fell to level 1.0760 and has resumed an upward move. According to the Fibonacci tool, the market will reach a high of 1.0870.


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EUR/GBP Fluctuates between Levels 0.9100 and 0.9200, May Resume uptrend

EUR/GBP Fluctuates between Levels 0.9100 and 0.9200, May Resume uptrend

 

Key Resistance Levels: 0.9200, 0.9400, 0.9600
Key Support Levels: 0.8800, 0.8600, 0.8400

EUR/GBP Price Long-term Trend: Bullish
The EUR/GBP pair is attempting to resume an upward move. The pair is facing rejection at level 0.9200. A red retraced candle body tested the 61.8% Fibonacci retracement level. The pair will rise and reach the 1.618 extension level. That is the market will reach a low of level 0.9557.

EUR/GBP – Daily Chart

Daily Chart Indicators Reading:
The 50-day and 21-day SMAs are sloping upward indicating the uptrend. The pair is at level 59 of the Relative Strength Index period 14. This indicates that price is in the uptrend zone and above the centerline 50.

EUR/GBP Medium-term Trend: Bearish
On the 4-hour chart, the EUR/GBP pair is in a downward move. The bulls are facing rejection at level 0.9150 and 0.9200. The pair is approaching the recent high to break above it.

EURGBP – 4 Hour Chart

4-hour Chart Indicators Reading
The 50-day SMA and 21-day SMA are sloping downward. The pair is below 80% range of the daily stochastic. Sellers are likely to emerge to push prices down. It is in the overbought region of the market.EUR/GBP is in a bearish momentum.

General Outlook for EUR/GBP
The EUR/GBP pair is now in an upward move. The bulls have earlier attempted to push into the previous highs but face rejection. According to the Fibonacci tool, the pair will rise and reach the high of either 0.9557.


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EURUSD’s Uptrend at Risk Following Price Movement Below the 1.18 Mark

EURUSD’s Uptrend at Risk Following Price Movement Below the 1.18 Mark

EURUSD Price Analysis – September 21

The continuation of the upside momentum in the EURUSD is at risk following the price movement below the 1.18 mark. The better start of the week in the greenback is forcing EURUSD to recede to fresh 2-day lows in the sub-1.18 area on Monday. Concerns about the second wave of the COVID-19 infections weighed on investors’ sentiment.

Key levels
Resistance Levels: 1.2011, 1.1965, 1.1852
Support Levels: 1.1750, 1.1685, 1.1422
EURUSD Long term Trend: Ranging
As observed on the daily, momentum indicators are turning lower and EUR could continue to trade quietly, expected to be between 1.1750 and 1.1852 levels. From a technical perspective, the emergence of some dip-buying near ascending trendline support at 1.1750 may favor bullish traders.

Hence, any subsequent positive move is more likely to confront a stiff resistance near the 1.1900 marks. That said, some follow-through buying might trigger some near-term short-covering move and push the pair further beyond the 1.1916-40 supply zone, towards reclaiming the key 1.2000 psychological marks.
EURUSD Short term Trend: Bearish
Looking at the 4-hour chart, the pair traded as low as 1.1737 last week before starting a fresh increase. However, there is the battle raging between bears and bulls and the EURUSD is within the bearish zone now.

Intraday bias in EURUSD stays neutral for the moment. On the downside, below 1.1737 level will reaffirm the bearish case, which is the fall from 1.2011 level is correcting the whole rise from 1.0635 level. On the upside, though, a break of the 1.1916 level will revive near term bullishness and bring retest of the 1.2011 resistance level first.

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Silver Price: XAGUSD Pullback Movement Continues From $26.50 Level

Silver Price: XAGUSD Pullback Movement Continues From $26.50 Level

XAGUSD Price Analysis – September 21

XAGUSD pullback movement continues from to $26.50 level during the early European session on Monday. The white metal dropped from $26.96 to $26.45 levels at the start of the day’s trading. The price moved lower after some USD strength earlier in the session and has been moving pretty sideways for a while now.

Key levels
Resistance Levels: $30.00, $28.90, $27.15
Support Levels: $26.20, $25.00, $23.78
XAGUSD Long term Trend: Ranging
Looking at the daily chart, the main feature is the large consolidation pattern from Aug 14. The bottom trendline from late March remains intact and had not been pierced. This support matched up with several horizontal support zones with a key one at $25.75 level.

Other than that, the indicators are pretty flat as the market is moving sideways. The Relative Strength Index is about to move beneath its midline and the moving averages 5 and 13 is just about to signal a change of trend.
XAGUSD Short term Trend: Ranging
The 4-hour time frame suggests continuous consolidation, alternatively, a downside break of the short-term horizontal support, near the $26.20 level, will quickly recall the $26.00 threshold on the chart before targeting the monthly low close to the $25.85 level.

Considering the range like formation and the normal RSI conditions, the white metal traders are likely to remain standby unless silver prices offer any notable breakout. We’ll target short positions below $27.00 handle with targets at $26.20 & $26.00 levels in extension.

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Bitcoin SV Price May Reverse at Support Level of $153

Bitcoin SV Price May Reverse at Support Level of $153

Bitcoin SV Price Analysis – September 21

The closing of a daily bearish candle below the support level at $153 may push the coin down to the support levels at $134 and $130. Should the support level of $153 holds the price, then, it will bounce and reverse to face the resistance levels at $171, $185, and $198.

BSV/USD Market
Key Levels:

Resistance levels: $171, $185, $198
Support levels: $153, $134, $130

BSV/USD Long-term Trend: Bearish

The Crypto was consolidating below the dynamic resistance levels for almost a week after the Bitcoin SV breaks down the $171 price level. On September 20, the bears gained more momentum and the price decreased yesterday with -4.8%. This is noticed on the daily chart with the formation of a daily strong bearish candle that penetrates the support level at $153 level. The daily bearish candle closes above the support level at $171.

BSVUSD Daily chart, September 21

Today, the BSV market opens with a bullish candle, which indicates the tendency for the crypto to reverse at the $153 support level. Nevertheless, the price still remains below the 9 periods EMA and 21 periods EMA as a sign of bearish movement. The closing of a daily bearish candle below the support level at $153 may push the coin down to the support levels at $134 and $130. Should the support level of $153 holds the price, then, it will bounce and reverse to face the resistance levels at $171, $185, and $198.

BSV/USD Medium-term Trend: Bearish

BSVUSD is bearish in the 4-hour chart. The coin is testing the support level of $152 the second time. The first attempt was on September 03; the price decline and found support at $152 level. It may bounce and experience a bullish reversal movement in case the bears defend the $152 level.

BSVUSD 4-hour chart, September 20

BSV is trading below the 9 periods EMA and 21 periods EMA in which the two EMAs are well separated from each other which indicates an increase in the bears’ pressure. The relative strength index period 14 is rising from the oversold region suggest an increase in the price of BSVUSD.

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