RedstoneFx Analyst
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Redstone Morning Analysis 20/9/2021

GBP/USD

Trend Theme:Sellers seek validation below 61.8% Fibonacci near 1.3720.

Trend Review:GBP/USD turns south in a 30-pips movement on Monday’s morning in the Asian trading session. The pair came under fresh selling pressure on Friday, once bears took the 20-day Simple Moving Average (SMA) at 1.3780 out.

Today Advise:StronglyBearish

Key Levels:

PPResistance*1.3793 *1.3845 **1.3878 ***
1.3761Support*1.3708 *1.3676 ** 1.3624 ***

Position Datas:

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NZD/USD

Trend Theme:NZD/USD stays pressured towards 0.7000 as coronavirus fears joins pre-Fed anxiety.

Trend Review:NZD/USD kick starts the key week around Friday’s close, keeps two-week downtrend. New cases in Waikato, headlines concerning China and Evergrande join tapering tantrums to back the bears. Bank holidays in China and Japan could join light calendar to restrict intraday moves, risk catalysts are important for fresh impulse.

Today Advise:StronglyBearish

Key Levels:

PPResistance*0.7078 *0.7114 **0.7141 ***
0.7051Support*0.7015 *0.6988 **0.6952 ***

Position Datas:

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WTI

Trend Theme:With Russia raising prices overseas and Gulf of Mexico exports recovering, oil prices this week will also depend on Iran’s nuclear program.

Trend Review:U.S. crude hovered around 71.62 in Asian trading. Oil prices fell on Friday as U.S. Gulf of Mexico energy companies restarted production after a series of hurricanes shut down the region. Brent rose 3.3 per cent last week, while US crude rose 3.2 per cent, helped by tight supplies due to hurricane disruptions. Oil prices this week are likely to be influenced more by the Iran nuclear talks, and also by geopolitical concerns.

Today Advise:Bearish

Key Levels:

PPResistance*72.50 *73.22 ** 73.96 ***
71.76Support*71.04 *70.30 **69.58 ***

Position Datas:

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XAU/USD

Trend Theme:Gold: Steady as she goes on Fed week.

Trend Review:Gold is flat during holiday thin markets with both Tokyo and China out today. Gold vs the US dollar has traded in a narrow range between $1,751.27 low and a $1,755.29 high.  

Today Advise:Bullish

Key Levels:

PPResistance*1765.81 *1776.74 **1785.93 ***
1756.62Support*1745.69 *1736.50 **1725.57 ***

Position Datas:

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