The Euro against the American dollar has been in the upward trend correction stage for several weeks now. This correction led to the level of 1,1900 being very important for the currency pair. Characteristically, all indicators continue to look up, confirming an upward trend. The current stage is interesting because just recently the price has again tested the level of moving averages from the top down and bounced up. This is roughly what we talked about in the previous week's review. The upward trend is therefore maintained and it is possible to trade upwards, but consider that there is a level of 1,1900 in the direction of movement where a correction or slowdown is likely.
EUR/USD analytics as of 7-11 September
analysis of EUR/USD by moving averages, RSI and MACD
This currency pair provides all opportunities to trade upwards. This is due to the fact that the global trend in the British pound against the American dollar is upward. It is very well traced by the oscillator, which has not been able to fall below 40 for a very long time. However, if you look at the oscillator, you can clearly see that when you reach level 40, it is going upwards. At least 7 points have shown this in the last 3 months. The seventh point was only recently, so it is already possible to trade upwards. This direction is also confirmed by the level of moving averages, which is below the current price but very close to it.
GBP/USD analytics as of 7-11 September
GBP/USD analysis by moving averages, RSI and MACD
The price of the dollar against the Japanese yen is within a range with borders of 105.170 and 106.710. The dynamics are confirmed by all indicators that are close to neutral or zero values. If, looking at the oscillator, we can say at least some small deviations from the neutral values, there are practically no deviations from the zero line on the histogram. In addition, price adheres very strongly to moving averages. It is now very dangerous to trade this asset as we are almost in the middle of a range. We have to wait in which direction the movement will start and trade away from the boundaries of the range.
analytics USD/JPY as of 7-11 September
analysis of USD/JPY by moving averages, RSI and MACD
The uptrend for this currency pair is still dominant, but last week there was a fairly strong downward movement from 0.7400. During this movement, the oscillator almost reached oversold levels. The histogram also fell, although the downward movement was minimal. If you look at the last price chart candlesticks, they have noticeably reduced their volatility near the moving average level. One of them left a very long shadow downwards. Taken together, all of these factors make it possible to consider trading upwards again, but we take into account that the market may soon need to make a significant correction, which means trading upwards in short contracts.
AUD/USD analytics as of 7-11 September
analysis of AUD/USD by moving averages, RSI and MACD
The US dollar against the Canadian dollar is developing in a downward trend and we now have every reason to open the contract immediately. Firstly, here and now the market is testing the trend line, which coincides with the level of 1.3142. On the other hand, the histogram gives a very strong signal for trading. If you look at its maximum values in the positive area, it coincides with the maximum values that were reached the last 3 times during the testing of the trend line. In this way we can look at how the market has worked out similar situations in previous times and expect the same. The previous times we should have seen a fairly strong downward movement. This time we expect the same.
USD/CAD analytics as of 7-11 September
analysis of USD/CAD by moving averages, RSI and MACD
For the dollar vs. the Swiss franc, there are several possibilities at once, which indicate that upward movement options are being considered. First of all, it should be noted that the current price development is one way or another above the strong 0.9061 level. In addition, the price is trying to gain a foothold above the level of moving averages, and these levels are gradually changing from a downward to an upward slope. These are all early signs of an upward movement. Consequently, we are considering upside trading options, but it will only be possible to open a trade if the market is moving above the 0.9130 level.
USD/CHF analytics as of 7-11 September
analysis of USD/CHF by moving average, RSI and MACD
For the dollar against the Russian rouble, the upward trend continues to be the dominant one. This upward movement has only intensified over the past week as there has been a rebound from the average, and the current price is testing 75.18 and is attempting to consolidate above this level. All indicators are looking up and confirming an upward trend. Therefore, it is necessary to consider upward trading options, but it will only be possible to open a deal when the market can consolidate above 75.18.
USD/RUB analytics as of 7-11 September
analysis of USD/RUB by moving averages, RSI and MACD
Gold continues to rest after a strong upward trend and does not show a clear propensity for any directed movement. In addition, the current market segment shows elements of low volatility. This is immediately reflected in all indicators, and especially in the oscillators, which are very close to the 50 mark. Last week, the price moved upwards to 1942.495. Given that the level is very significant, there are no trend movements, a downward correction to at least 1909.434 can be expected.
Gold analytics as of 7-11 September
analysis of Gold by moving averages, RSI and MACD