by JustForex
Yesterday, the EUR/USD currency pair was traded within the range of 1.1850-1.1890 and showed a positive trend of 0.07%. This morning the pair is growing. An uptrend is observed on the chart, which indicates the predominance of purchases on this asset. On the hourly timeframe, the price is being traded above the moving average MA 200. On the H4 timeframe, the situation is similar. The MACD indicator is in the positive zone. Based on the above, it is worth considering buy positions while the price is above MA200 on the H1 timeframe.
The main scenario for trading EUR/USD: look for buy entry points. We recommend fixing the position at the level of 1.1920.
Alternative scenario: if the price fixes below 1.1842 on the H1 timeframe, the currency pair is likely to decline to 1.1758.
Yesterday, the GBP/USD currency pair was traded in the range of 1.3200-1.3270 and closed the day with a result of +0.45%. On the hourly chart, GBP/USD is being traded above the moving average MA (200) H1. The situation is similar on the four-hour chart. The MACD indicator is in the positive zone. Based on the above, it is necessary to look for buy entry points while the currency pair remains above MA 200 H1.
The main scenario: if the price fixes above the level of 1.3272 (November 17 high), then quotes may move to $1.3312 (November 11 high).
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Alternative scenario: if the price fixes below the moving average MA 200 on H1, then the asset may fall to $1.3104.
Yesterday, the USD/JPY currency pair was traded down and closed the day with a result of -0.37%. Today, the currency pair is already showing a downward movement. On the hourly chart, USD/JPY has broken through and fixed below the MA line (200). On the four-hour chart, the situation is similar. The MACD indicator is in the negative zone. Based on the above, one should consider sales while the pair remains below MA 200 on H1. It is necessary to look for sell entry points to form a correction.
The main scenario for trading USD/JPY is considering selling an asset. It is better to wait for the correction on lower timeframes to the level of 104.37.
The main target is the level of 103.18. An alternative scenario assumes consolidation above 104.37, followed by a rise to 105.12 (November 16 low).
Yesterday, the USD/CAD currency pair was traded in a flat and closed with a result of 0.24%. Today, the pair has fallen slightly, dropping to $1.3080. On the H1 timeframe, USD/CAD is above the MA 200 moving average. On the four-hour chart, the price has not yet tested the moving average. Currently, on the currency pair, there is a prolonged consolidation in the range of 1.3060-1.3110. Based on the above, we recommend trading USD/CAD only when the price exits above or below the trading range.
The main scenario: if the price breaks through and fixes above the level of 1.3116, it is worth considering purchases with a target up to 1.3170.
Alternative scenario: if the price breaks through the level of 1.3063 and fixes below the 200 moving average on H1, one may consider a sell position to the level of 1.2928.
by JustForex
This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.
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