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Market Analysis – 14.09.2020

Technical Outlook on USDCHF

A very clear head and shoulders pattern is clearly visible on the H4 chart of the USDCHF pair, indicating that we should soon see a stronger USD than the CHF.

Our view is long on USDCHF with a near tern target price of 0.91594.

AUDJPY

We are expecting a breakout to the downside on the AUDJPY H4 chart on the trendline, which will give us the go ahead to short sell, which we suspect will happen in today’s trading session at most.

If we do see the expected breakout, we should then aim for the price level of 73.271

CADJPY

We saw a breakout on a long-standing diagonal trend-line to the downside on the CADJPY pair, which gave us the green light to short sell from that point onward.

Our near-term target is the price level of 78.383.

NZDJPY

The technical set up for the NZDJPY pair shows a clear head and shoulders pattern, which indicates that we are heading downwards for the NZDJPY pair.

The near-term target for us is the price level of 68.732 and then 66.447 consecutively.

EURCAD

The EURO has pushed higher and broken out of a bearish channel on the EURCAD pair and has stayed outside of the channel to the upside, confirming that the Bullish direction is now in play.

The next target for the EURCAD pair is 1.61249.

EURAUD

A gartley pattern is clearly visible on the EURAUD pair, which tells us the direction from here is upwards.

Our next target for the EURAUD pair is 1.64512.

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This communication is provided for information purposes only and is not intended as a recommendation or a solicitation to buy, sell or hold any investment product. Customers are solely responsible for their own trading decisions.

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